YEAR 2000 DISCLOSURE (28/9/99)

In accordance with the requirements of the Australian Stock Exchange ("ASX"), ROC Oil Company Limited hereby responds to the questions asked by the ASX in relation to the Year 2000 issue:

"Has your Company's assessment of its overall potential exposure to the Year 2000 problem changed materially from one the market has previously been told? If it has, your response should describe the change."

The Company's assessment of its potential exposure to the Year 2000 problem was initially disclosed to the market in the Company's Prospectus dated 21 June 1999, issued in conjunction with the Company's initial public offering. The Company's shares were listed on the Australian Stock Exchange on 5 August 1999.

Under the heading "Year 2000 Date Change" on page 55 of the Prospectus, the Company commented on the Year 2000 problem. These comments included the following statement:

"In common with other users of computers and other systems utilising digital technology, the Company is investigating if, and to what extent, the date change from 1999 to 2000 may affect its systems. The Company has established a programme designed to ensure that the impact on the Company of the transition to the Year 2000 is minimised by seeking to ensure that the Company¹s key networks and systems are Year 2000 compliant before 31 December 1999."

The Company's assessment of its potential exposure to the Year 2000 problem has not changed materially from that stated in its Prospectus.

"Has your Company initiated any material action to address the Year 2000 problem beyond actions previously disclosed to the market or does it propose to initiate any such action? If it has, your response should describe the action."

Please refer to the response to question 1 above and to the responses to the other questions set out below.

"Please provide details of your Company's progress in relation to its activities to address the Year 2000 problem, including the date by which your Company expects to have completed those activities."

Following the acquisition by the Company of the United Kingdom assets of Morrison Middlefield Resources Limited (as described in the Company's Prospectus), the Company's activities are managed from offices in three locations, namely:

• Sydney, Australia (head office);
• Saxilby and Welton in Lincolnshire, United Kingdom; and
• Mongolia.

Details of the Company's progress in relation to addressing the Year 2000 problem with respect to each of the above locations are set out as follows:

Sydney Office
The Company established a Year 2000 project in early 1999 with the objective of ensuring that its core business areas and processes will continue to function without disruption beyond 31 December 1999.

The key area of exposure has been identified to be the Company's information technology systems including personal computers, work stations and network facilities.

All Sydney Office information technology systems and related equipment have been independently tested by an external consultant, Lanrex Consulting Services Pty Ltd, and have been found to be Y2K compliant.

The manufacturers of potentially date sensitive office equipment (such as photocopiers and printers) have confirmed that such equipment is Y2K compliant. Since ROC is a relatively young company, having been founded in late 1996, its systems and equipment are also relatively young and this has been a significant factor in the Company's Y2K compliance programme.

Saxilby-Welton (Lincolnshire)
Roc Oil (UK) Limited (formerly known as Candecca Resources Limited prior to the completion of the takeover of its parent company, Morrison Middlefield Resources Limited, by ROC Oil Company Limited) ("Roc UK") instituted a Y2K compliance programme in early 1998.

The programme identified date sensitive embedded systems in Roc UK's Welton Gathering Centre facility and well-sites as the major area of concern.

A programme of inventory, risk assessment, replacement and testing was then carried out to the standards required by the British Standards Institution DISC PD2000 series of documents to ensure that IT systems were Y2K compliant. The only outstanding project in this programme is to upgrade a telemetry system at the Welton Gathering Centre and this will be completed by the first week of November 1999.

Third party supplier Y2K audits and suppliers' Y2K compliance documentation in respect of critical components will also be completed or obtained by the first week of November 1999. In addition, installation and testing of all relevant and currently available Y2K computer software upgrade programmes will be complete by that date. The entire Roc UK Y2K compliance programme will then be complete.

Mongolia
The Company has two sites in Mongolia, the main office in Ulaanbaatar and a field base camp in Zuunbayan, some 500km south of the main office.

In the main office in Ulaanbaatar, testing has been carried out on IT systems as well as on all other date dependent office equipment, and some older computers have been identified as not Y2K compliant. It is intended to replace these non-compliant computers with Y2K compliant units by the end of October 1999, since this is the most cost-effective solution. When these computers are replaced, a further compliance test of Ulaanbaatar office IT systems will be carried out.

ROC is testing the IT systems and date dependent equipment in the field camp facility. However, since modern computers and related equipment have recently been installed, no compliance issues are expected to arise. Testing is due to be completed by the end of October 1999.

"Are there areas of your Company's activities where, in your Company's assessment, material Year 2000 risks will remain after the Company's activities to address the Year 2000 problem are completed? Examples might include dependencies on third parties such as utilities. If there will be remaining risks, your response should describe them."

Obviously, the Company is dependent upon utilities providers such as electricity, water, and telecommunications suppliers being Y2K compliant.

The building occupied by the Company's Sydney head office is managed by Westfield Shopping Centre Management (QLD) Pty Limited and the Company is in discussion with the building manager regarding Y2K compliance of building services and systems. Building services to the offices in Saxilby, Welton and Ulaanbaatar are not date dependent.

In relation to the Roc UK operations, the third party supplier audit and critical component Y2K documentation referred to above will ensure that third party suppliers of IT related services and equipment meet the British Standards Institution DISC PD2000 series of documents and will therefore be Y2K compliant. If such compliance cannot be verified, Roc UK will have the option to re-source the service.

"Please describe your Company's contingency plan in relation to Year 2000 issues."

Roc UK has contingency plans in place in relation to each critical aspect of the UK production operations, which will permit continuing production from the Welton Gathering Centre.

In the case of Mongolia, a "state of the art" satellite telephone system has been installed and can be used in the event that the local telephone system breaks down. A power switch-over system is already in place and if the local power supply fails, all systems can be powered by the Company's generator, which is not date dependent. In any event, it is intended to shut-in production operations in Mongolia during the northern winter.

Bruce Clement
Company Secretary

For further information please contact: Bruce Clement on + 61 2 8356 2000

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ACTIVITIES UPDATE    (21/9/99)

1. SALTFLEETBY GAS FIELD DEVELOPMENT (ROC 100%)

1.1 Well Tests

Since last week's Activity Report, commission testing of the two final wells in the Saltfleetby Field has commenced. Saltfleetby-1u tested at rates of 13.5mmscf/d and 450bbl condensate on a 36/64" choke. Saltfleetby-4, the most recent well in the field but previously untested, is currently being tested with initial cleanup flows of 15.4 mmscf/d and 524bbl condensate on a 40/64" choke. Both flows are in line with expectations.

1.2 Construction

Construction of the Saltfleetby export pipeline was completed two weeks ahead of schedule. Delivery, installation and hook-up of the pre-fabricated well site process equipment packages are proceeding on schedule. Construction work on the gas reception facilities within the Theddlethorpe Gas Terminal is also proceeding on schedule.

2. SEISMIC ACTIVITY

2.1 UK Onshore (ROC 100%)

The 55 sq km Salteast 3D Seismic Survey designed to appraise the eastern extent of the Saltfleetby Gas Field is continuing with approximately 50% of the acquisition now complete.

2.2 Mongolia (ROC 100%)

The 1,035 km Jochi Seismic Survey continued in the Gobi Desert. As of Monday 20 September, a total of 674 km (65%) of seismic had been acquired at recording rates as high as 25 km/day which compares very favourably with the 14 km average daily acquisition rate for the 1998 seismic survey in the same basin.

2.3 Australia (ROC Farm-in Option)

Scouting ahead of the 568 km Michelle Seismic Survey in the Offshore Perth Basin permits WA-286-P and TP/15 continued.

3. BOARD COMPOSITION

Bob Boyson In order for Mr Boyson to focus more fully on the provision of technical advice to ROC, he has submitted his resignation from ROC's Board of Directors effective 22nd September 1999. ROC will continue to benefit from direct access to Mr Boyson's technical skills through an extension of the existing consultancy arrangement which the company has with Mr Boyson. To reflect his new role, Mr Boyson's title will be "Technical Adviser to the Board" and in this capacity he will continue to attend and participate in ROC's Board Meetings and will remain a key member of the company's Executive Committee.

Douglas Manner Because of the continuing demands of Mr Manner's executive role as Chief Operating Officer of Gulf Canada Resources Limited ("Gulf") and the fact that Gulf Canada's shareholding in ROC has been diluted to less than 2% as a result of ROC's recent public listing, Mr Manner has submitted notice of his resignation from ROC's Board of Directors effective 22nd September 1999. Mr Manner will continue a close association with ROC through his role as Gulf Canada's representative in the Gulf Canada-ROC Joint Venture which was established in December 1996 and continues to be active.

Bun Hung In order to fill the casual vacancy created by Mr Manner's resignation, ROC is pleased to advise that its Board of Directors has agreed to appoint Mr Bun C Hung as an Executive Director, effective 23rd September 1999. For most of this year Mr Hung has provided legal and administrative consulting services to ROC and in this capacity he was deeply involved in both the acquisition of Morrison Middlefield Resources Limited and ROC's public listing on the Australian Stock Exchange. Following the public listing, Mr Hung, who is a lawyer by training, joined ROC in a full-time capacity as "General Manager ­ Legal & Administration". Mr Hung graduated from Sydney University in 1974 and, since 1982, has worked exclusively within the Australian and international oil and gas industry holding senior executive positions with Nomeco Oil & Gas and Command Petroleum Limited. Most recently, Mr Hung was Managing Director of Cairn Energy Asia Pty Ltd.

Commenting on the Board composition, ROC's Chairman Andrew Love stated that:

"The rationale underlying the changes to the Board relates directly to ROC's transition from a privately owned company to a publicly listed company. Both Doug Manner and Bob Boyson have made very valuable contributions to ROC in its private capacity and the entire company looks forward to continuing productive relationships with both gentlemen on a technical advisory and joint venture level. Similarly, ROC warmly welcomes Mr Bun Hung to its Board which will now consist of eight directors, four of whom have financial backgrounds, three of whom have technical backgrounds and one of whom has a legal background."

DR JOHN DORAN Chief Executive Officer

For further information please contact: Dr John Doran on 61 2 8356 2000

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WEEKLY DRILLING REPORT   (14/9/99)

1. SALTFLEETBY-4 WEEKLY DRILLING UPDATE

Roc Oil Company Limited ("ROC") hereby advises that since the last weekly drilling report, the rig was released from the onshore UK Saltfleetby-4 well in PEDL 005 (ROC-operated with 100% working interest) after the well had been completed as a future gas producer.

The rig, which is self-owned by ROC, will be laid down for approximately one month during which time a forward drilling program will be planned for the balance of 1999 and early 2000.

2. SALTFLEETBY GAS FIELD DEVELOPMENT (ROC 100%)

Commissioning equipment arrived on site at the Saltfleetby Gas Field on 9 September and a commissioning test program commenced on 11 September. As of the time of this report, two Saltfleetby wells have been tested with results that are consistent with expectations. Saltfleetby-3 produced at 13.5 mmscf/d and 480 barrels condensate per day on 36/64 inch choke. Saltfleetby-2 tested 10.0 mmscf/d and 319 barrels of condensate per day on 32/64 inch choke.

Top soil re-instatement on the export gas pipeline is complete. The main control building has been erected on Saltfleetby "B" site and installation of the control system has started.

Fabrication of process skids and site construction activities remain on schedule.

3. SEISMIC ACTIVITY

In the UK the 55 sq km Salteast 3D Seismic Survey commenced acquisition on Sunday 12 September following 3-D and 2-D acquisition parameter testing. The survey is designed to define the eastern limit of the Saltfleetby Gas Field which is believed to extend, at least a small distance, beyond the limit of the current 3-D seismic grid.

In Mongolia the 1,035 km Jochi Seismic Survey continued in the Gobi Desert. As of Monday 13 September a total of 525 km of seismic had been acquired at recording rates as high as 25km/day which compares very favourably with the 14km average daily acquisition rate for the 1998 seismic survey in the same basin.

Dr John Doran Chief Executive Officer

For further information please contact: Dr John Doran on 61 2 8356 2000

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ACTIVITIES UPDATE   (7/9/99)

1. SALTFLEETBY-4 WEEKLY DRILLING UPDATE

Roc Oil Company Limited ("ROC") hereby advises that since the last weekly drilling report the onshore UK Saltfleetby-4 well in PEDL 005 (ROC-operated with 100% working interest), has been completed as a future gas producer. As of 9.00 am on Monday, 6 September 1999 (UK time), the well was being rigged down in preparation for rig release.

The drilling program for Saltfleetby-4 required a horizontal section of approximately 300 metres to be drilled in the lower part of the Saltfleetby gas reservoir and the well achieved this objective on schedule and within budget.

2. SALTFLEETBY GAS FIELD DEVELOPMENT (ROC 100%)

The Saltfleetby Gas Field Development continues to progress and the target date for first gas remains November 1999 as forecasted in the ROC Prospectus. More specifically:

3. KYLE OIL FIELD DEVELOPMENT (KYLE DEVELOPMENT) (ROC 12.5%)

Subsequent to recent informal industry and sharemarket comment in London, ROC believes that the status of the Kyle Development in the UK North Sea may be suffering from some inadvertent misperceptions in Australia. In this context, ROC hereby provides the following update with regard to the Kyle Development:

• During July and August 1999, several Kyle Joint Venturers, including ROC, issued separate formal notices to relevant Stock Exchanges and media outlets to the effect that delays in the completion of the processing facilities on the neighbouring Banff Floating Production and Storage Facility ("Banff FPSO") could cause the Kyle Development to be delayed because, as then contemplated, the Kyle Development required access to the Banff FPSO. The releases also stated that in order for the Kyle Joint Venture to achieve its previously stated first oil target date of end 1999, it was actively considering alternative development scenarios including the use of an early production system that did not depend upon access to the Banff FPSO.

• During August 1999 the operator of the Kyle Joint Venture, Ranger Oil (UK) Limited ("Ranger") continued to review various development scenarios. If the Kyle Joint Venture decides to develop the Kyle Field via the Banff FPSO, the most probable date for first oil would be between April and November 2000. If the Kyle Joint Venture chooses to utilise an early production system first, oil production around the end of the year remains a valid target date. A decision as to which development option is most appropriate is expected within six weeks.

4. ROC ACQUIRES OPTIONS OVER OFFSHORE PERTH BASIN PERMITS

ROC hereby advises that it has entered into an agreement with Premier Oil Australia Pty Ltd ("Premier"), a wholly owned subsidiary of UK-based Premier Oil plc, with regard to two juxtaposed exploration permits in the offshore Perth Basin: WA-286-P and TP/15 (Attachment 1). WA-286-P covers approximately 14,500 sq km. The adjacent TP/15 covers about 1,207 sq km parallel to the West Australian coast immediately offshore from a number of oil and gas fields and infrastructure.

The main elements of the transaction include:

• In consideration for paying 100% of Premier's share of the cost of the 568 km Michelle Seismic Survey (up to a maximum of A$880,000), ROC will earn an option to acquire between 30% and 75% of WA-286-P by funding proportionately between 40% and 100% of the cost of the next well scheduled to be drilled in that permit.

• If ROC exercises its WA-286-P option, it will also earn a further option to acquire between 10% and 25% of TP/15 in consideration for paying proportionately between 20% and 50% of the cost of the next well to be drilled in that permit.

• If, through exercise of its WA-286-P option, ROC acquires 40% or more interest in that permit, or if ROC becomes the largest contributor to the cost of the next well to be drilled in WA-286-P, ROC shall be appointed operator of the permit, which is currently 100% owned by Premier. A similar arrangement has been put in place for ROC to be appointed operator of TP/15, subject to it acquiring a 25% interest and receiving necessary government and joint venturer approvals.

The Michelle Seismic Survey, which is scheduled for October-November 1999, is designed to mature some large leads into drillable prospects which would be ready for drilling during the second part of 2000.

The transaction is subject to normal industry terms and conditions including receipt of necessary approvals from relevant government authorities, the execution of a mutually acceptable Farm-in Agreement and, in the case of WA-286-P, a Joint Venture Operating Agreement.

Commenting on the farm-in ROC¹s CEO Dr John Doran stated that:

"In ROC's recent Prospectus, the Company stated that it would have been delighted if it could have identified an appropriately attractive asset acquisition opportunity in Australia, although up to that point in time all the Australian opportunities reviewed by ROC had been judged to have been either too risky or too expensive. In ROC's opinion, the option arrangement relating to the two offshore Perth Basin permits doesn't fall into either of those categories.

The natural risk, which is always associated with exploration projects, is mitigated because the farm-in is based on a series of options over two shallow water permits in an area where the target horizons are relatively close to the surface and drilling is relatively inexpensive.

Of particular interest to ROC is the geological play concept upon which the transaction is based which invokes the possibility that the structures targeted for seismic later this year may display significantly better reservoir quality than is normally encountered in other parts of the Perth Basin. If this concept proves to be valid, the offshore Perth Basin will take on a whole new dimension as far as oil and gas exploration is concerned."

Dr John Doran Chief Executive Officer

For further information please contact: Dr John Doran on + 61 2 8356 2000

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