net oil within the 10-40% range

Dr John Doran, Chief Executive Officer of ROC commented that: "The net oil pay within the overall gross oil column drilled at Tiof-4 lies within the 10% to 40% range established by the other discoveries and successful appraisal wells in the area.

MAURITANIA OFFSHORE DRILLING UPDATE
ROC advises that the following release was made earlier today by Woodside Petroleum Limited: "Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum Ltd., reports the following activity offshore Mauritania since the last report issued on 9 November 2004. PSC-B, Block 4 Tiof-3 ST2 and Capitaine-1A Tiof-4 Appraisal well The "Stena Tay" drill rig arrived at the Tiof-4 location on 9 November 2004 and drilled the bottom hole section to a final total depth of 2,908 metres. Evaluation of logs acquired while drilling and wireline logging operations, including fluid sampling and downhole pressure measurements, has established that the well intersected a gross oil column of approximately 113 metres, containing several individual sands of variable thickness. The result was in line with pre-drill expectations. At midnight on 15 November 2004 the ”Stena Tay" was preparing to plug and abandon the Tiof-4 appraisal well as planned. The "Stena Tay" will then move to the Merou-A location. Tiof-3 ST2 Appraisal Well During the week some mechanical problems have resulted in a delay to commencing flow test operations. At midnight on 15 November 2004 the current operation was continuing preparations to flow text the well. All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and exploration wells to be drilled early in the 2004-05 drilling campaign are shown on the attached map. Wells are expected to be drilled in three production sharing contract areas during the campaign." Dr John Doran, Chief Executive Officer of ROC commented that: "The net oil pay within the overall gross oil column drilled at Tiof-4 lies within the 10% to 40% range established by the other discoveries and successful appraisal wells in the area. 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
Participating Interests in the areas are: Company PSC-A PSC-B Woodside group companies (Operator) 53.846% 53.846% Hardman group companies 24.3% 21.6% BG group companies 13.084% 11.63% Premier group companies -- 9.231% Fusion group companies 4. 615% -- Roc Oil group companies 4.155% 3.693%