ROC OIL COMPANY LIMITED
ABN 32 075 965 856

• In 2000 ROC acquired 60% interest in deep water Blocks H15 and 16 from Atlas Petroleum International Limited and Osborne Resources Limited.  Through subsequent changes to the Joint Venture, ROC's current equity is 18.75%.

• ROC is the Technical Manager of the blocks.

• In 2001 ROC acquired a 1,403 sq km 3D survey over almost the entire area of the two blocks.

• In 2004 ROC successfully operated the drilling of Bravo-1, which was ROC's first deep water operated well.

• Offshore Rio Muni Basin has proven oil potential, evidenced by the presence of the producing Ceiba Oil Field and other oil fields in the Amerada Hess-operated blocks some 65 km to the south.
  

• The blocks are located in the northern Rio Muni Basin, an Early to Mid-Cretaceous rift basin.

• Stratigraphically-trapped Cretaceous turbidites and Tertiary channel sands form the major plays in the blocks.

* Following the settlement of a dispute in September 2008 between ROC and its co-venturers with Pioneer, Pioneer's 50% interest is assigned to ROC, Atlas and Osborne, subject to relevant Government approvals and satisfaction of conditions of the settlement.