2009-04-30-2009-04-30-2009-04-30

Farmed in 45% interest into onshore block in Cabinda Onshore South Block in Angola.

Roc Oil (Cabinda) Co. a subsidiary of Roc Oil Company Ltd., Sydney, Australia, (Australia: ROC) has entered a farmout agreement with Pluspetrol Angola Corp., a subsidiary of Buenos Aires, Argentina-based Pluspetrol Resources Corp., for 45% interest (56.25% paying interest) in the Cabinda Onshore South Block in Angola. Pluspetrol will also become operator of the block. Roc will retain a 15% interest (18.75% paying interest) in the block through its subsidiary, Lacula Oil Co. Ltd., which will be free-carried through the full 2009 work program and budget, planned to include the testing of the Coco discovery. Roc will also be reimbursed for its share of the joint venture's working capital effective Dec. 31, including its share of drilling inventory to be used in 2009. Completion of the agreement is subject to government and joint venture approvals. Roc chief executive Bruce Clement says, "Roc is pleased to announce the introduction of a new partner, Pluspetrol, into the Cabinda Onshore South Block joint venture. Pluspetrol will bring new ideas and investment to the joint venture. The farmout also achieves an important part of Roc's business strategy, which is to reduce risk in the company's asset portfolio and to minimize 2009 exploration expenditure. While reducing Roc's equity in the block to 15%, the company will continue to be exposed to the potential upside at no cost in 2009. In the meantime, Roc will be able to focus its capital resources on development projects in China and Australia."