Mauritania -Notice of Dispute

Roc Oil Company Limited
03 February 2006


3 February 2006


                         ROC OIL COMPANY LIMITED ('ROC')
                             STOCK EXCHANGE RELEASE

                           MAURITANIA OFFSHORE UPDATE
                            NOTIFICATION OF DISPUTE

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

'Woodside Petroleum Ltd. has been advised by the Mauritanian Government that it
disputes amendments to four offshore production sharing contracts operated by
the company's wholly-owned subsidiary, Woodside Mauritania Pty Ltd.

The amendments, which are supplementary to the production sharing contracts,
were negotiated with the Ministry of Energy and Petroleum and approved by the
Mauritanian Government and the Mauritanian Parliament before becoming law in
2005. Woodside is confident that the amendments are proper, valid and binding on
all parties.

Woodside Mauritania Pty Ltd is in discussions with the Mauritanian Government to
explore ways of resolving the dispute.

Woodside welcomes the Government's willingness to address the matter under the
dispute resolution procedures of the production sharing contracts. If the
dispute cannot be resolved through discussion, the parties are likely to begin
arbitration under the contract terms.

The dispute does not affect the Chinguetti project which remains on schedule to
produce first oil this month.

Woodside operates the Chinguetti Joint Venture and the four offshore production
sharing contracts on behalf of several joint venturers, including Hardman, BG,
Premier, Roc Oil, Fusion, Petronas, Dana Petroleum, Energy Africa and the
Government-owned Societe Mauritanienne des Hydrocarbures.'

The disputed amendments refer to the following offshore production sharing
contracts ('PSC'):

 +---------------------------+--------+--------+----------+---------+---------+
 |          Company          | PSC-A  | PSC-B  |Chinguetti| PSC-C,  | PSC-C,  |
 |                           |        |        |  Joint   | Block 2 | Block 6 |
 |                           |        |        | Venture  |         |         |
 +---------------------------+--------+--------+----------+---------+---------+
 |Woodside group companies   |53.846% |53.846% |47.38448% |  41.750%| 37.578% |
 |(Operator)                 |        |        |          |         |         |
 +---------------------------+--------+--------+----------+---------+---------+
 |Hardman group companies    |24.300% | 21.6%  |19.00800% |  28.800%| 22.422% |
 +---------------------------+--------+--------+----------+---------+---------+
 |Societe Mauritanienne des  |   --   |   --   |12.00000% |   --    |   --    |
 |Hydrocarbures (formerly    |        |        |          |         |         |
 |GPC)                       |        |        |          |         |         |
 +---------------------------+--------+--------+----------+---------+---------+
 |BG group companies         |13.084% | 11.63% |10.23440% |   --    |   --    |
 +---------------------------+--------+--------+----------+---------+---------+
 |Premier group companies    |   --   | 9.231% | 8.12328% |   --    |   --    |
 +---------------------------+--------+--------+----------+---------+---------+
 |Roc Oil group companies    | 4.155% | 3.693% | 3.24984% |   3.200%| 5.000%  |
 +---------------------------+--------+--------+----------+---------+---------+
 |Fusion group companies     | 4.615% |   --   |    --    |   --    |   --    |
 +---------------------------+--------+--------+----------+---------+---------+
 |Petronas Carigali Overseas |   --   |   --   |    --    |   --    | 35.000% |
 |Sdn Bhd                    |        |        |          |         |         |
 +---------------------------+--------+--------+----------+---------+---------+
 |Energy Africa              |   --   |   --   |          |  20.000%|   --    |
 +---------------------------+--------+--------+----------+---------+---------+
 |Dana Petroleum (E&P)       |   --   |   --   |          |   6.250%|   --    |
 |Limited                    |        |        |          |         |         |
 +---------------------------+--------+--------+----------+---------+---------+

Michelle Manook                          For further information please contact:
General Manager - Corporate Affairs                             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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