Roc Oil Acquires New Permit Offshore Perth Basin

Roc Oil is pleased to advise that, by prior agreement with Voyager Energy Limited, it will exercise an option to acquire a 50% interest in, and operatorship of, a newly awarded permit in the offshore Perth Basin, near Geraldton. The balance of the permit interest will be held by Voyager.

The 725 sq km area is currently designated WO3-14 and covers a portion of the geological trend which, to the south, includes the Cliff Head Oil Field. The area is contiguous with three licenses in which ROC and Voyager already hold interests, all of which are operated by Roc.

Commenting on the permit acquisition, Roc's Chief Executive Officer, Dr. John Doran, stated: "The acquisition is consistent with Roc's consolidation of its interests in the northern part of the offshore Perth Basin where Roc now holds between 20% and 50% in approximately 7 million gross acres/almost 30,000 sq km, together with an option to acquire a 7.5% interest in WA-226-P where the Fiddich-1 exploration well is expected to be drilled during 2004."