Mauritania Media Speculation

Roc Oil Company Limited
18 January 2006


18 January 2006



                        ROC OIL COMPANY LIMITED ('ROC')
                                        
                             STOCK EXCHANGE RELEASE
                                        
                     OFFSHORE MAURITANIA: MEDIA SPECULATION


ROC advises that in the last 24 hours it has become aware of media speculation
regarding certain recent events in Mauritania and their postulated relationship
to contracts with foreign companies, including offshore Production
Sharing Contracts ('PSCs') operated by Woodside Mauritania Pty Ltd ('Woodside').
In this context, ROC offers the following comments which are provided on the 
basis of its best understanding of the current situation:

   • The Chinguetti Development Project remains on schedule for first oil in
     late February 2006.

   • As Operator of the relevant Joint Ventures, Woodside is continuously and
     routinely engaged in discussions with the Mauritanian Government. 
     Most recently, some of those discussions have focused on certain
     elements of documents which are ancillary to the PSCs (the 'Ancillary
     Documents').

   • The Ancillary Documents refer to amendments and clarifications to the
     PSCs which were negotiated with the Government of Mauritania by Woodside on
     behalf of the Joint Ventures and approved by the Government of Mauritania, 
     prior to becoming law in 2005.

As a non-operating participant with small interests in offshore areas operated
by Woodside, it is not appropriate for ROC to comment further, other than to say
that discussions such as those occurring between Woodside and the Government of
Mauritania are not uncommon in the international oil and gas industry. Often 
this is due to the need for clarification of various non-core elements in 
documented agreements, which typically arises as a Joint Venture moves from 
early stage exploration to first oil production.



Michelle Manook                              For further information please
General Manager - Corporate Affairs                                contact:
                                                           Dr John Doran on
                                                       Tel: [phone]
                                                       Fax: [phone]
                                                Email: [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]
                                                                           
                                                               Nick Lambert
                                       Bell Pottinger Corporate & Financial
                                                  Tel:  [phone]
                                                                                


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