Quarterly Activities Report

Roc Oil Company Limited
29 July 2005




                             ROC OIL COMPANY LIMITED
                              (ABN 32 075 965 856)

                             REPORT TO SHAREHOLDERS
                 Activities for the Quarter Ended 30 June 2005

SUMMARY

Almost 80% of the reported Quarterly expenditure of $25 million was spent on
oilfield development projects. Both the Chinguetti and Cliff Head oil fields
continued their progress towards first production in 1Q2006. Immediately
subsequent to quarter end, the Blane and Enoch fields in the North Sea also
moved into development mode with first oil targeted for 4Q2006. A significant
seismic survey commenced in Angola, which marked the return of onshore oil
exploration activities to that country after an absence of more than 30 years.
During July ROC's share price reached a record closing high of $2.30, equivalent
to a market capitalisation of about $430 million.

--------------------------------------------------------------------------------

HIGHLIGHTS

AUSTRALIA
Cliff Head Oil Field Development,    Four months after project sanction, with
offshore Western Australia, on       75% of the $227 million budget committed
target for 1Q2006.                   and 40% of the non-drilling activity
                                     completed, the development remains within
                                     budget and on schedule.

Farmin to WA-351-P offshore          A farmin to a BHP Billiton-operated area
Western Australia.                   offshore Western Australia will provide ROC
                                     with a 20% interest in the very large, but
                                     very high risk, Jacala Prospect.
                                     Exploration success at Jacala would be a
                                     company-changing event.

WEST AFRICA
Chinguetti Oil Field Development,    All 12 development wells have now been
offshore Mauritania, continues       drilled as this major deep water project,
towards targeted first production    with a gross budget of towards
during 1Q2006.                       US$700million/A$920million(1), including
                                     contingencies, moves towards production.

Multi-well exploration programme,    Following joint venture agreement regarding
offshore Mauritania, agreed.         the location of the next three exploration
                                     wells, drilling activity offshore
                                     Mauritania is expected to start in 3Q2005.

A very significant seismic survey    The start of a combined 2D and 3D
begins onshore Angola.               ROC-operated seismic survey marked the
                                     resumption of onshore oil exploration
                                     activity in Angola after a hiatus of more
                                     than 30 years.

NORTH SEA
Blane Oil Field moves into the       Subsequent to Quarter-end, the £165million/
development phase.                   A$391 million(2) Blane Field development is
                                     now underway following receipt of UK and
                                     Norwegian Government approvals.

Enoch Oil and Gas Field moves        Subsequent to Quarter-end, the £75million/
into the development phase.          A$178 million2 Enoch Field development
                                     received project sanction following receipt
                                     of approvals from the UK and Norwegian
                                     Governments.

Financing of the redevelopment of    As a result of the appointment of an
the Ardmore Field terminated.        Administrative Receiver to Acorn North Sea
                                     Limited, ROC expects to recover in excess
                                     of $2.5 million from the Ardmore project,
                                     approximately 25% of the Company's
                                     investment in the project.

CHINA
Negotiations continue regarding      The Overall Development Plan for the
field development, offshore          Wei-12-8 West Field in Block 22/12 in the
China.                               Beibu Gulf is nearing completion as ROC and
                                     its co-venturers continue to liaise closely
                                     with the regional subsidiary of the giant
                                     Chinese oil company, CNOOC, in an effort to
                                     determine whether or not the field merits
                                     commercial development.

CORPORATE
Australian-International             Consistent with Australian accounting
financial reporting standards        requirements, ROC has adopted A-IFRS. While
adopted.                             this change does not have any material
                                     effect on ROC's cash flow, business
                                     practices or activities it will be
                                     reflected in the Company's 2005 profit
                                     statement. For example, as a result of
                                     adopting the new standards ROC's reported
                                     after tax profit on the December 2004 $110
                                     million sale of the Saltfleetby Gas Field
                                     in the UK will increase from about $70
                                     million to $81 million.

Hedging strategy completed.          The purchase of options over 200,000
                                     barrels at US$40/bbl Brent completes ROC's
                                     hedging strategy by providing it with a
                                     price floor while at the same time
                                     maintaining the Company's exposure to the
                                     spot market.

With cash and receivables of         Almost 80% of the Company's reported $25
A$154 million at Quarter-end, ROC    million expenditure incurred during the
remains well funded and              Quarter was spent on field development
debt-free.                           activities.

For a copy of ROC's complete 2Q2005 Report, please see our website:
http://www.rocoil.com.au/Pages/Company_Reports/company-reports.html

                                         For further information please contact:
Michelle Manook                                                    Dr John Doran
General Manager - Corporate Affairs                         Tel: [phone]
Tel: [phone]                                        Fax: [phone]
Fax: [phone]                                 Email: [e-mail]
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]


------------------------------

(1)  Please note:  basic project expenditure is in US$ converted in this report 
     to A$ at the current exchange rate = 0.76
(2)  Please note:  basic project expenditure is in pounds sterling converted in 
     this report to A$ at the current exchange rate = 0.42
(3)  Please note:  basic project expenditure is in pounds sterling converted in 
     this report to A$ at the current exchange rate = 0.42



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