Production for the year totalled 3.5 million barrels of oil equivalent from six producing fields in Australia, Africa, China and the United Kingdom, up 77% from the 2006 result of 2MMboe.

Roc's sales revenue was 90% higher at $US208.5 million, while trading profit was up 284% to $87.4 million.

However, the company's huge exploration budget was partly responsible for a net loss after income tax of $US83.3 million, nearly double that of the previous year.

Last year, Roc said it spent $88.9 million on exploration, which resulted in four discoveries from the six exploration wells completed during the year.

These included the "potentially significant" Massambala-1 heavy oil discovery, onshore Angola, and three discoveries, two of which are potentially commercial, in the north Perth Basin, offshore Western Australia.

Also during the year, Roc spent $57.4 million on development costs to complete the Enoch and Blane fields in the North Sea, appraise the Zhao Dong C & D fields offshore China and complete the Chinguetti-18 well, offshore Mauritania.

Progress was also made on the Wei 6-12 and Wei 6-12 South pre-development project in China's Beibu Gulf, with a development decision expected mid year.

Debt at the end of 2007 was $133.3 million, roughly on a par with the $137.5 million 2006 result.