roc oil releases drilling update on banda east

Roc Oil Releases Drilling Update on Banda East

11-06-2008

Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, reports that the Banda East-1B appraisal well had achieved a depth of 2,443 mBRT. Current operation was to prepare to run Core#2 from 2,443 mBRT.

The Banda East appraisal well was spudded on October 4, 2008 and the forward program is to continue drilling to a planned Total Depth of approximately 2,800 mBRT.

Banda East-1B is appraising the Banda Oil and Gas Field. The Banda Oil and Gas Field was discovered in 2002 and is located approximately 80 kilometers from the Mauritanian coast in 300 meters of water, spanning PSC Area A and PSC Area B.

Participating Interests in the PSC Area A Joint Venture are:

Roc Oil (Mauritania) Company.............................................4.155%
PC Mauritania I Pty Ltd (Operator)......................................53.846%
Hardman Petroleum (Mauritania) Pty Ltd..........................21.300%
Planet Oil (Mauritania) Limited .............................................3.000%
Mauritania Holdings B.V.......................................................13.084%
Fusion Mauritania A B.V..........................................................3.000%
FP Mauritania A B.V.................................................................1.615%