ROC - Debt Refinancing

Roc Oil Company Limited
21 August 2007

21 August 2007


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


                CORPORATE UPDATE: ROC COMPLETES DEBT REFINANCING


Consistent with its previously advised financial strategy, ROC is pleased to
announce that the refinancing of its existing 12 month bridge loan facility has
been completed with the execution of a new US$200 million four year loan
facility with the Commonwealth Bank of Australia, Societe Generale and BOS
International (Australia) Limited.

The remaining US$167.5 million of the original bridge loan facility which was
established last year to fund the US$275 million acquisition of ROC's interest
in the Zhao Dong Project, in the Bohai Bay, offshore China will be repaid in
full from the initial drawdown under the new loan facility.

Commenting on the refinancing, ROC's Chief Executive Officer, John Doran stated
that:

'The completion of the refinancing marks another key milestone for the Company
and underscores confidence in ROC's corporate growth plans, including aggressive
active exploration and/or development programmes in Australia, Angola and China.
The establishment of an overall senior debt facility also provides the necessary
capacity and flexibility to continue to grow our business in line with ROC's
strategic objectives.''



Damian Fisher
General Manager
External Affairs & Investor Relations

                                         For further information please 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]
                                            Mob: [phone]
                                                      Email: [e-mail]

                                                                    Michael Shaw
                                    Oriel Securities Limited (Nominated Adviser)
                                                        Tel: [phone]




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