The two lead by two strokes over Brett Rumford and Craig Parry, and by three over four others including Brett Ogle.
For the 41-year-old Fowler, the round comes not only as a new course record at this Huntingdale Golf Club, but as his finest single day performance since the week in 1993 when he won the BMW Open.
'This was the simplest round of golf I've played since I won the BMW Open,' he stated. 'I decided to take the approach of some of the young guys - to grip it and rip it.'
Speaking of young guys gripping it and ripping it, Cocking seems to be off to just the kind of start any twenty-something amateur could hope for.
'I played solidly until 12, the last few holes were a struggle,' Cocking said. 'I putted very well, only missed one green until the 12th and just had one of those days.'
Despite his first round success, a couple other youngsters did not fare quite as well on Thursday. Two-time Australian Open champion and last week's winner of the Greg Norman Holden International Aaron Baddeley went around in even-par 72. Likewise, Spain's Sergio Garcia - who finished second to Baddeley last week - struggled to a 3-over 75.
'Everything was wrong today,' said the 21-year-old. 'Not only the driver, everything. The 3-wood, the irons, the putting.'