Protected lubricant reservoir for sealed bearing earth boring drill bit

A rotary cone rock bit, comprises a bit body including a plurality of legs extending therefrom, each of the legs having an outer surface that includes a leading surface and a trailing surface, a roller cone rotatably supported on each of the legs, a bearing system between each cone and the leg on which it is supported, and a lubricant reservoir in fluid communication with the bearing system. The reservoir can be provided with a wear resistant plug, if desired. In the present bit, the reservoir has at least one opening positioned in either the leg's leading surface, trailing surface, center surface, shoulder surface or some combination of these. Alternatively, the reservoir can be formed inside the bit body, preferably by means of a canister, which can be provided with venting means as desired.