ROC OIL COMPANY LIMITED
ABN 32 075 965 856

Drilling Activity Update: Flying Foam-1

14 NOV 05

KEY POINT

- Flying Foam-1, a wildcat exploration well in the offshore Northern Perth Basin, is drilling ahead after encountering oil shows in tight sands.

Roc Oil (WA) Pty Ltd, Operator for and on behalf of the WA-327-P Joint Venture, advises that, as at 05.00 hrs Western Standard Time, Monday, 14 November, Flying Foam-1, a wildcat exploration well in the offshore Northern Perth Basin, is drilling ahead at 1,360 metres Below Rotary Table (“mBRT”) towards a revised Total Depth of 1,370 mBRT. The well has drilled a gross 45 metre interval of sandstones with oil shows. Subject to more complete log evaluation at Total Depth, the initial indication is that these sands display very poor reservoir quality.

Unless significantly better reservoir is encountered, it is anticipated that the well will be plugged and abandoned after Total Depth has been reached and logging completed.

Flying Foam-1 is located in 65 metres of water, 160km northwest of Geraldton, Western Australia.

Following Flying Foam-1, the ENSCO 67 jack-up drilling rig will relocate to the Cliff Head Oil Field, 230 km to the southeast, where the WA-286-P Joint Venture will utilise it for the installation of production facilities and development drilling of Cliff Head.

For further information see: Stock Exchange Release 14.11.05