Update by way of interview with the ROC CEO.

Roc Oil Company Limited
20 January 2005


Attention ASX Company Announcements Platform
Lodgement of Open Briefing



Roc Oil Company Limited
Level 14
Market St
Sydney NSW 2000



Date of lodgement: 20-Jan-2005
Title: Open Briefing. Roc Oil. Update on Operations

Record of interview:

corporatefile.com.au
The joint venture partners involved in the Mauritanian drilling program have
released a lot of information to ASX over the last few months. What is ROC's
view on the drilling results and the progress you've made over the last few
months?

CEO John Doran
ROC's view of what is happening in Mauritania hasn't changed in the last many
months. The area is developing into an important new petroleum province offshore
Northwest Africa - but it is still very early days. We still have a huge amount
to learn about the detailed nature of the various oil and gas plays - and, in
this regard, every new well helps.

Development of the Chinguetti Field is progressing and first oil in still
expected in early 2006. It's worth reminding ourselves that this is a deep water
development in a remote part of Northwest Africa where, until very recently,
there was no industry infrastructure. Consequently, the development of
Chinguetti is a significant project for Woodside as operator.

Clearly, the Tiof Field is large. However, with six wells drilled into the
reservoir and, for a variety of valid operational reasons, none tested, I think
we would all like to flow oil and recover some oil samples to help us determine
the best way to develop this substantial resource. A testing programme is
scheduled to happen soon.

The Tevet discovery gave us a 1 in 4 success rate from the exploration wells
drilled in late 2004. That is less than our previous strike rate, which was 100%
for the Miocene Channel play. Of course, if you are batting at a 100% success
rate there's only one way it can go - sooner or later, it will change for the
worse and you will inevitably drill some dry exploration holes. In our case, it
just so happened that those wells were the ones that were drilled most recently.
Elsewhere in the petroleum world a 1 in 4 exploration success rate would be
considered a good result.

We should also remember that ROC has interests throughout offshore Mauritania,
not just in the Woodside-operated area. Although the other offshore sub-basins
are at an even earlier point on the exploration learning curve than the
Woodside-operated area, there is no reason why, given time, they shouldn't also
enjoy a similar measure of success.

Perhaps, the biggest danger that faced the market in relation to Mauritania last
year was an understandable over exuberance fuelled by expectations that were
unrealistically high and running well ahead of industry statistics - but, then,
I guess, that's just a normal situation in an area where the drilling results
have been so good.


corporatefile.com.au
Thank you John.

Price dropping back, it will I suppose till the tall ships return to flow test.

Problem is, doi I sell at my current profit or hold and buy more at the new low where ever that is?

I guess around 62p without any other news.

That's it, I will hold and top up if the opportunity arrives.

I'm doing the same SWW.

I'm holding because I've got no choice. As soon as I get back to break-even I'm out. There are much better investments out there.

MS

Probably right ms.

You have been tettering for a while.

Me I will stick to my 6 month game plan and see what happens. I am still in profit so I can do that, but it may not suit all.

LOL then SWW.

MS

Reading the signs I think you have done well with soco ms.

http://boards.fool.co.uk/Messages.asp?mid=9052893&bid=50765

Is a good place to have a look see whats occuring there.

Like all successes it's never enough. Now if SEY comes good that could make my life a lot easier.

MS

ms I missed that boat altogether.

gav has given me loads of info, and checked me before I bought in, just as well as consolidation set in then.

I would like to be on that but it's picking the moment.

Some on TMF say that anything under 5.50 is a good buy in price, and that is the best place to bone up on E & P, probably more.....

Not quite caught up yet need to see whats happening today.

All the very best Old Fellow.

Chin, chin, and all that.

Hardman Quaterly Report

http://moneyam.uk-wire.com/cgi-bin/articles/200501310930539782H.html

No nonesense, dynamic and exciting.

This is looking very good people.

Quite a change of style already from Ted Ellyard's last.

All imho etc.

Flow testing Tiof 6 now result before the end of the month this should fly if it's good.

Remember MS, oil floats on water and has a gas cap when laid down in rock.

As Tiof 6 showed no water or gas, then this is most likely a very significant find.

You may do wrong to fly this one, CSH columns are minor in comparison to the Mauritannian ones.

I feel patience as you have with SEY would be benficial in the long run.

Up to you though.

http://boards.fool.co.uk/Message.asp?mid=9080886

Just saw this on TMF which explains my last in great detail.

I'm still holding, so lets wait and see.

LOL

MS

I'm sure you guys will appreciate this:

http://boards.fool.co.uk/Message.asp?mid=9081035&sort=postdate

Ha gav, I had not got that far.

Nice round up.

My firm belief is that this will go once tiof 6 is flow tested assuming sucess.

Same goes for SEY.

HNR have many more irons in the fire which are expected to be reported on soon, so there is great potential upside and not too far away.

In my bullish estimation we could see 1 to 1.30 this year and once Chinguetti comes on line again assuming sucess, next year it will fly, followed by sequential increases every year.

I'm suprised the lull has lasted so long.

Mmmm....

Me too.

Proptrade did warn of this happening to SEY before the drilling campaign, so I am not surprised.

What I was surprised at was the subsequent discount after I sold at 97p.

There was no way I would not buy in again at the sub 60p level an then again just over.

I camn not see those levels being reached again once this is away from here.

I think progress immediately depends on Tiof 6 flow test, then we wave bye bye to 70 p levels.

Course I could be wrong, but elsewhere they think the same.

SWW

Hope you're right.

MS

I think the tide is changing. If it get's through 70p then we are on the way. Let's see what tomorrow brings.

LOL

MS

Up again 3.57% overnight in Oz where holders state has hit a resisance point of $1.77 AUS.