Signing of Revised PSCs

Roc Oil Company Limited
07 June 2006


7 June 2006

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

          SIGNING OF REVISED MAURITANIAN PRODUCTION SHARING CONTRACTS

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

'Woodside Mauritania Pty Ltd., a wholly owned subsidiary of Woodside Petroleum
Ltd., and its joint venture participants in Mauritania have signed revised
production sharing contracts (PSCs) for offshore zones A, B, C2 and C6.

In a signing ceremony in Nouakchott overnight, representatives of Woodside, its
joint venturers and the Islamic Republic of Mauritania formally agreed to the
revised contracts for the four offshore zones.

The revised contracts reflect an agreement signed by Woodside and the
Mauritanian Government in March this year which resolved a dispute between the
parties over previous amendments to the original PSCs.

The major elements of the resolution, reflected in the revised PSCs, are:

•   Exploration periods are secured in line with previous arrangements;

•   A Chinguetti Project bonus of US$100 million shall be paid by the zone B
    joint venturers to the Mauritanian Government approximately 14 days
    following the approval of the revised PSC B and subsequent to the gazettal
    of the revised contract;

•   Fiscal incentives which will provide a greater share of revenue from the
    Chinguetti project to the Mauritanian Government during periods of high oil
    prices; and

•   Establishment of an Environmental Commission, funded through a total
    annual payment of US$1 million by the joint venturers during the life of
    production from the revised PSCs.

The revised PSCs come into effect after their formal gazettal in the Official
Journal in the Islamic Republic of Mauritania.

The signing of the revised contracts establishes greater fiscal certainty and
allows increased co-operation between Woodside, its joint venture participants
and the Islamic Republic of Mauritania.'

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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