NOVEMBER 2000- RELEASES

1. SALTFLEETBY-5 NAMURIAN GAS COMES ON TO PRODUCTION Onshore U.K. (ROC: 100%)

Saltfleetby-5 was hooked up for production into the sales gas pipeline as scheduled on 1 November 2000 since when it has flowed at test rates up to 16.8 MMSCFD. As a result of the well's success the nominated field sales gas rate has been increased from 36 MMSCFD to 43 MMSCFD. This newly nominated rate for late 2000 is essentially the same as the 44 MMCFD average rate achieved by the field between its mid-December 1999 start up and end-October 2000, during which time a total of 14 BCF was produced. (Attachment 1). Attachments (2) and (3) place Saltfleetby production in an Australian context.

2. KYLE EXTENDED WELL TEST ("EWT") FINISHES U.K. North Sea (ROC: 12.5%)

The EWT of the Kyle 29/2c-12z well was terminated at midnight on 5 November 2000, according to plan. Reservoir pressure will be monitored until 10 November 2000 before the Petrojarl-1 production vessel is released from site. Cumulative gross EWT production over its 162 days duration was 1.51 MMBBL (9,321 BOPD) oil and 1.66 BCF gas. Data from the test will be used to optimise the full field development, which is now progressing (see ROC's ASX release dated 23 October 2000). First oil is expected to flow through the full field development by the end of first quarter 2001, subject to UK Government approval.

3. KYLE NORTHEAST WELL RIG RELEASE U.K. North Sea (ROC: 12.5%)

The Sovereign Explorer rig was released on 31 October 2000, having suspended the Kyle 29/2c-13 well (Kyle Northeast) for later production. The well will be tied back for production during the first phase of full field production in early 2001.

4. CHESTNUT EWT PLAN PROGRESSING U.K. North Sea (ROC: 29.75%)

Plans to drill a new well and carry out an EWT at the Chestnut Field are progressing on schedule. A rig has been contracted and the well is expected to commence in mid-December 2000, with first EWT oil late in the first quarter of 2001. ROC will be free carried through the well and the EWT by the Contractor. 5. CLAYMORE - INFILL WELL DRILLING U.K. North Sea (ROC: 0.4605%) Talisman Energy, as Operator of the Claymore Field, has started operations on the 14/19-C64 well. The well is a lateral re-drill of a previously suspended well and which targets by-passed oil in a fault block in the main part of the field. Operation at 0600 (UK time) on 7 November 2000 was milling casing prior to setting cement plug and kicking off.

Dr John Doran
Chief Executive Officer
E-mail: jdoran@rocoil.com.au

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