Mauritania Drilling Update

Roc Oil Company Limited
02 November 2004


2 November 2004


                        ROC OIL COMPANY LIMITED ('ROC')
                             STOCK EXCHANGE RELEASE
                                        
                      MAURITANIA OFFSHORE DRILLING UPDATE


ROC advises that the following release was made earlier today by Woodside
Petroleum Limited:

'Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum
Ltd., reports the following activity offshore Mauritania since the last report
issued on 26 October 2004.

                   PSC-B, Block 4 Tiof-3 ST2 and Capitaine-1A

Tiof-3 ST2 Appraisal well
Preparations to flow test the well continued on the 'West Navigator' drill ship.

Capitaine-1A Exploration Well
The 'Stena Tay' rig drilled the 12-1/4 inch hole to 2718 metres where 9-5/8 inch
casing was set. At midnight on 1 November the rig was preparing to run a casing
hanger seal assembly prior to drilling ahead in 8-1/2 inch hole to the planned
total depth of approximately 3125 metres.

All reported drilling depths are referenced to the rig rotary table and all
times are Universal Time (UTC) (Mauritanian time).

The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and
exploration wells to be drilled early in the 2004-05 drilling campaign are shown
on the attached map.*

Wells are expected to be drilled in three production sharing contract areas
during the campaign.'

Dr John Doran, Chief Executive Officer of ROC commented that:

'ROC believes that it is now likely that the Mauritanian Government will
exercise its entitlement to acquire a 12% interest in the Chinguetti Field
Development on a prorata basis from all current Chinguetti participants prior to
that entitlement lapsing on 20 November, 2004. In the event that the Government
does exercise its right in this respect it will be responsible for its share of
development and past exploration costs associated with the Chinguetti Oil 
Field.'

Participating Interests in those areas are:

   +-------------------------------------+-----------+----------+----------+
   |               Company               |   PSC-A   |  PSC-B   |  PSC-C2  |
   +-------------------------------------+-----------+----------+----------+
   |Woodside group companies (Operator)  |  53.846%  | 53.846%  |   48%    |
   +-------------------------------------+-----------+----------+----------+
   |Hardman group companies              |   24.3%   |  21.6%   |  28.8%   |
   +-------------------------------------+-----------+----------+----------+
   |BG group companies                   |  13.084%  |  11.63%  |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Premier group companies              |    --     |  9.231%  |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Fusion group companies               |  4. 615%  |    --    |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Roc Oil group companies              |  4.155%   |  3.693%  |   3.2%   |
   +-------------------------------------+-----------+----------+----------+
   |Energy Africa                        |    --     |    --    |   20%    |
   +-------------------------------------+-----------+----------+----------+

*Map attached to the copy of this release on ROC's website
(http://www.rocoil.com.au/Pages/ASX_Releases/asx-releases/November-2004.html)

Bruce Clement                                 For further information please
Chief Operating Officer                                             contact:
                                                            Dr John Doran on
                                                        Tel: [phone]
                                                        Fax: [phone]
                                                E-mail: [e-mail]
                                                     Or visit ROC's website:
                                                           www.rocoil.com.au

                                                               Dr Kevin Hird
                                        General Manager Business Development
                                                   Tel:  [phone]
                                                   Fax:  [phone]
                                                 Email:  [e-mail]
                                                                                
                                               Ann-Marie Wilson/Nick Lambert
                                        Bell Pottinger Corporate & Financial
                                                  Tel:  [phone]



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