Some substance to give support to assertions made re. ROC for...

Some substance to give support to assertions made re. ROC for those interested. In contrast, BPT has no such programme or potential imo.

- ROC has a producing asset (the Saltfleetby Gas Field) in the UK. By the time this field is exhausted in about 10 yrs time it will have yielded a pre-tax cashflow for ROC of over A$180 million. Further drilling this year could extend the Saltfleetby's proved and probable gas reserves beyond the remaining 39 BCF.

-ROC has a modest market cap of around $295m and holds a 3.693% interest in the Chinguetti oil field. ROC's share of this production per annum is estimated to be around 0.9mmbls and should generate an additional cash flow of in excess of A30m p/a.

- Phase 2 drilling in offshore Mauretania is to begin soon - 10 exploration and appraisal wells and 10 developmental wells are planned. The Tiof discovery could well proceed to the developmental stage and add to ROC's coffers.

- ROC has a 37.5% interest in the offshore Nth Perth basin Cliffhead Oil Field which contains an estimated 21mmbls of recoverable oil. ROC's share is around 2.0 mmbbls per annum generating a pre tax cash flow of A80m each year once production starts.

- by 2006 production from Cliffhead and Chinguetti should see ROC's 2003 production levels doubled to 3.6mmboe. ROC stands to earn, by this time, a profit of almost 30c per share (around A$52m p/a) on a PE below 6

- also, later this year the Cliffhead joint venture partners will be undertaking further drilling targetting large prospective oil targets of 20 to 50 mmbl.

- ROC is undervalued on the basis of both its future growing oil production and its participation in exploration programmes in prospective and exciting large target areas.

- ROC will be one to rock onto the Aussie oil stage imo.