Press Releases

Sydney, Jan 23, 2008 (ABN Newswire) - Wei 6-12W-1 Exploration Well, Beibu Gulf Block 22/12, Offshore China

Drilling ahead at a depth of 2,106 mBRT

Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that since its last Stock Exchange release on 16 January 2008, the Wei 6-12W-1 exploration well in Block 22/12 in the Beibu Gulf, offshore China, has set 9-5/8 inch casing at 1,837 mBRT. As at 0600 hours (local time) the current operation was drilling ahead at 2,106 mBRT towards a prognosed Total Depth of 2,425 mBRT.

The Wei 6-12W-1 well, located in 30 metres of water, is being drilled by the Premium "Murmanskaya" jack-up drilling rig approximately 2.5 kilometres northwest of the Wei 6-12S-1 oil discovery.

Participating Interests in the Block 22/12 Joint Venture are:

Roc Oil (China) Company.............40% (Operator)
Horizon Oil Limited.................30%
Petsec Petroleum*...................25%
Oil Australia Pty Ltd**..............5%

The above interests are subject to Government participation in developments of up to 51%

* a subsidiary of Petsec Energy Ltd
**A subsidiary of First Australian Resources

Contact

Dr John Doran Tel: +61-2-8356-2000 Fax: +61-2-9380-2635 Email: jdoran@rocoil.com.au WEB: www.rocoil.com.au