The following is a review of recent events at ROC assets that includes: strong production performance at the Zhao Dong oil fields; production interruptions at the Basker-Manta-Gummy ("BMG") project; and the planned shutdown at the Blane oil field. ROC's production guidance for 2010 remains unchanged at 8,000-9,000 BOEPD.

Zhao Dong Oil Field, Offshore China

Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, advises that Zhao Dong oil field production is currently averaging over 24,000 BOPD and total year-to-date production to 31 May was approximately 2.5 MMBBL. Despite the production downtime caused by severe winter weather and sea-ice conditions in the Bohai Bay during 1Q 2010, production is still expected to meet the budget target of over 7 MMBBL for the year.

Following a delayed start due to the severe winter weather, the planned 2010 development drilling programme is underway with 6 of the planned 24 wells completed within budget and now contributing over 5,000 BOPD to current production. To mitigate the delayed start, parallel drilling operations on the C4 platform and the Zhao Dong platform are taking place to accelerate the programme and deliver earlier production. Several well workovers and pump change-outs have also been completed to improve the performance of existing wells.

Preparations are in progress for the construction of the gas pipeline from Zhao Dong to shore. The commencement of gas sales is planned for 4Q 2010.

Participating interests in Zhao Dong C and D and ERA Oil Fields are:

Roc Oil (Bohai) Company (Operator).....................................24.5%
PetroChina Company Limited..................................................51.0%
New XCL-China LLC..................................................................24.5%

Participating interests in the unitised C-4 field are:

Roc Oil (Bohai) Company (Operator).....................................11.58%
PetroChina Company Limited..................................................76.85%
New XCL-China LLC..................................................................11.58%

BMG Oil and Gas Field, Bass Strait, Australia

Roc Oil (Vic) Pty Limited (formerly Anzon Australia Pty Limited), a wholly owned subsidiary of ROC, provides an update on BMG oil and gas field operations.

Following unplanned maintenance and repairs to the Crystal Ocean FPSO's disconnectable turret mooring and mooring buoy that had shut-in the BMG field since 4 May, production recommenced on 6 June. Repairs were completed without incident.

Participating interests in the BMG Project are:

Roc Oil (Vic) Pty Limited (Operator).......................................30%
Beach Energy Limited.................................................................30%
CIECO Exploration and Production (Australia) Pty Ltd..........20%
Sojitz Energy Australia Pty Ltd....................................................10%
Pertamina Hulu Energi Australia Pty Ltd..................................10%

Blane Oil Field, North Sea, UK

Roc Oil (GB) Limited, a wholly owned subsidiary of ROC, advises that the planned maintenance programme of the production system downstream of the Blane oil field facilities started on 6 June (previously advised in the 1Q 2010 Report). Blane production will be shutdown for most of June. The planned Blane shutdown is already factored ROC's 2010 production guidance. The production rate at Blane averaged approximately 10,400 BOPD (ROC: 1,300 BOPD) in May and overall year-to-date production for the field has exceeded budget.

Participating interests in the Blane Oil Field are:

Roc Oil (GB) Limited.....................................................................12.5%
Talisman Energy (UK) Limited (Operator)................................25.0%
Talisman Energy Norge AS..........................................................18.0%
MOC Exploration (UK) Limited.....................................................14.0%
Eni UK Limited................................................................................13.9%
Eni ULX Limited.................................................................................4.1%
Dana Petroleum (BVUK) Limited.................................................12.5%

2010 Production

ROC's production guidance for 2010 remains unchanged at 8,000-9,000 BOEPD.