ROC OIL COMPANY LIMITED (ROC) STOCK EXCHANGE RELEASE by eel17334

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									20 December 2005


                             ROC OIL COMPANY LIMITED ("ROC")

                                   STOCK EXCHANGE RELEASE


                       DRILLING ACTIVITY UPDATE
           FAUCON-1 EXPLORATION WELL, OFFSHORE MAURITANIA


ROC advises that since the Company’s last "Drilling Activity Update" on 13 December,
2005, the "Stena Tay" drilling rig has drilled Faucon-1 a further 496 metres to a Total
Depth of 4,170 metres without encountering any significant hydrocarbons. The current
operation is preparing to plug and abandon the well as a regionally significant but sub-
commercial, discovery.

Therefore, the main outcome of the drilling of Faucon-1 remains as reported last week: it
encountered two hydrocarbon-bearing sandstones some 150 metres apart. The upper
sandstone is gas-bearing and four metres thick while the lower 40 metres thick sandstone
has a 10 metre interval at the top of it which appears to contain light oil or liquids-rich gas-
condensate. The composition of the hydrocarbon fluid cannot be finally determined until
the downhole pressurised fluid samples recovered from the well have been fully analysed
in an onshore laboratory.

Faucon-1 is located in 1,162 metres of water, 140 km south of the Chinguetti Oil Field.

Commenting on the Faucon-1 results, ROC’s CEO John Doran said:

      "Any time you find net hydrocarbon pay in the Cretaceous in a previously undrilled
      area 140 km from Chinguetti, you have to be encouraged. Exploration offshore
      Mauritania is still in its infancy: more than 14 million acres/50,000 sq km; barely
      scratched by the drill bit."

The Joint Venture Interests in Block 1 are:
                                                                                 Equity
          Dana Petroleum (E&P) Limited (Operator)                                36.0%
          Gaz de France UK B.V.                                                  24.0%*
          Tullow Oil                                                             20.0%
          Hardman Petroleum (Mauritania) Pty Limited                             18.0%
          Roc Oil (Mauritania) Company                                            2.0%
        * Subject to farmin from Dana


                                                                                For further information please contact:
                                                                                                      Dr John Doran on
                                                                                                 Tel: +61-2-8356-2000
                                                                                                 Fax: +61-2-9380-2635
                                                                                          Email: jdoran@rocoil.com.au
                                                                           Or visit ROC’s website: www.rocoil.com.au




                                    Roc Oil Company Limited (ACN 075 965 856)
      Level 14, 1 Market Street, Sydney NSW 2000, Australia. Telephone: +61 2 8356 2000 Facsimile: +61 2 9380 2066
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