Roc Oil Blows Bubbles at Lilac-1

Roc Oil Pty Limited, a wholly owned subsidiary of ROC, advises that the Lilac-1 exploration well in WA-286-P, in the North Perth Basin, offshore Western Australia, has drilled to a Total Depth of 1455 mBRT and wireline logging is underway.

The Lilac-1 exploration well encountered sands with weak gas shows and fluorescence. However, preliminary interpretation of mud log, Logging While Drilling (LWD) and drill data indicates that the primary reservoir is water bearing. A final analysis will be made once wireline logging is completed. It is expected that the well will be plugged and abandoned.

The forward program for the Premium WilCraft jackup drilling rig is to move to the second well of the current program, Frankland-2, also in WA-286-P. Frankland-2 will appraise a structure about one kilometer northeast of Frankland-1 which discovered gas in 2007. Frankland-2 is expected to be completed by the end of February 2008.

Participating Interests in the WA-286-P joint venture are Roc Oil with 37.5%, AWE Oil with 27.5%, ARC Energy with 30% and CIECO Exploration and Production with 5%.