PDA

View Full Version : ROC whatsup!



whatsup
15-09-2004, 10:55 AM
Sellers .20 NO buyers has it all turned to custard with the Hawk!

Snow Leopard
15-09-2004, 11:57 AM
You seem to be caught between a ROC and a hard place :D

PT [:o)]

hirzelz
12-10-2004, 08:46 AM
What about the latest move of Allan Hawkins with Rocom creating a Financing setup.Exactly the same as in the early days of Eqitycorp. Some people in those early days made some very good money, me included. That is why I put some hard cash in this.

hirzelz
13-10-2004, 11:18 AM
Now it is getting to be interesting.Share price increased by 45% since last friday and sellers have dried up

saintjohn
13-10-2004, 05:39 PM
Over 300% since I bought in June. Allan isn't too popular on this site, but most know he is a very clever man and doesn't deserve the rolling eyeballs we get from most brokers.

Critic's need look no further than Trans Rail for far worse people who should be doing time.

peterafaj
16-11-2004, 08:16 PM
As already acknowledged not popular on this site, however, since going ex 1.1 at 5 cents the pre entitlement equivalent price is now 50 cents.

Very nice thank-You

Farouk
25-11-2004, 02:24 PM
Has had good rises last day or 2. Farouk was talking to a broker who was having a wee chat with the Hawk. The Hawk tells this man something is up. Appears to Farouk that this could be soon.......
p.s. Farouk has loaded up.

saintjohn
25-11-2004, 03:57 PM
Been with the Hawk from day one. Anything can happen with this Man in charge.
Great ride so far.

hirzelz
23-02-2005, 11:44 AM
now is a good time to ask the question. I had faith in the man.

Steve
23-02-2005, 12:19 PM
Well, the recent drop in shareprice since the start of the year has only been on small volumes. Possibly little speculators loosing interest because things are not happening as quick as they would like?

Disc:Have a buy order in...

Steve
26-02-2005, 10:35 AM
Should a profit announcement be due in Feb? If so, it would have to be on Monday...

IcedPaladin
27-02-2005, 03:34 PM
Another shark from '87 days re-entering the ASX.
Bruce Judge with the same or similar ideas to the Hawk.
Targeting niche financial markets.
BKV share price has price has done much the same as ROC.

whatsup
02-06-2005, 09:46 AM
Rebirth completed, Cyntech where to from here?

Gryffyn
02-06-2005, 09:51 AM
02.06.05

by Liam Dann and NZPA

Allan Hawkins - the 1980s high flyer who spent six years in jail for fraud - is once again inspiring investor confidence.

A share offer for his NZAX-listed company Cynotech has closed oversubscribed. The company has successfully issued 20 million new ordinary shares and 10 million warrants at 17.5c a share.

In 1989, after the collapse of Equiticorp, Hawkins was jailed on fraud and conspiracy charges involving $520 million.

He returned to the public eye last year when he purchased a stake in listed technology company Rocom and took over as chief executive.

Rocom has since been folded into Hawkins' investment company Cynotech Holdings.

Cynotech also owns finance company Budget Loans and Mellon Foods.

Last year, Hawkins told the Herald that he would not change any of his past actions, even if he would change the outcome. "I don't want to even think about that. One of the advantages I've got is that people do know me. Everything about me has been written in the Herald over the years so I am what I am."

Cynotech shares closed at 18c yesterday.

hirzelz
05-06-2005, 06:13 PM
My apologies to A Hawkins for loosing faith in him.
It has been restored together with the share price which now shows me a profit and I am happy to hold.Also happy with the over-subscribing showing others feel the same trust. Wish my crystal ball could tell me where the share price will be May 2006/2007
Hirzelz

Bling_Bling
06-06-2005, 04:38 PM
quote:Originally posted by hirzelz

My apologies to A Hawkins for loosing faith in him.
It has been restored together with the share price which now shows me a profit and I am happy to hold.Also happy with the over-subscribing showing others feel the same trust. Wish my crystal ball could tell me where the share price will be May 2006/2007
Hirzelz


The old trick of holding up the price to keep the shareholders happy inthe short term straight after a placement techique?

saintjohn
06-06-2005, 05:05 PM
quote:Originally posted by Bling_Bling

The old trick of holding up the price to keep the shareholders happy inthe short term straight after a placement techique?


Bling-- how very, very true!!

crisstoff
05-08-2005, 06:53 PM
The price has slowly firmed up from 16-18 range to 20 this afternoon. Maybe the market is starting to register the half year result anouncement from last week.

CYT
29/07/2005
HALFYR

REL: 1148 HRS Cynotech Holdings Limited

HALFYR: CYT: Cynotech Group Releases Half Year Results to 30 June 2005

CYNOTECH GROUP RELEASES HALF YEAR RESULTS TO 30th June 2005.

The Directors of Cynotech Holdings Ltd announce a net surplus of $441,552
(unaudited) for the six month period to the end of June 2005. This compares
to the loss of $978,982 for the last half year to June 2004 and the annual
loss of $1,250,193 for the year to December 2004.

The surplus for the 6 month period comprises
Net operating profit for the half year: 57,849
Less share placement costs: -115,954
Plus extraordinary gain from the sale of assets: 499,657
Net surplus for the half year: 441,552

All Divisions and Subsidiaries have contributed positively to the result in
this period and are expected to contribute at an increasing rate in the
second half of the financial year to 31st December.

The purchase of Merlin Foods Ltd was completed on 18th May 2005 and the
results of Merlin have been consolidated into the Group as from that date.

During the period under review Cynotech Holdings Ltd successfully placed
20,000,000 new shares and raised new equity funds of $3,500,000. The issue
closed oversubscribed.

In addition the Company issued 34,130,404 warrants entitling the holders to
take up new shares at 25 cents per share in either 2006 or 2007.
End CA:00118671 For:CYT Type:HALFYR Time:2005-07-29:11:48:31

Not bad, considering most people had written Rocom of. I think we shall see how good the Hawk is at putting this company in to top 50. But maybe I am being optimistic:D

Either way it has been great so far and I am sure the run is not finished.[:p]

saintjohn
05-08-2005, 08:40 PM
quote:Originally posted by crisstoff

not bad, considering most people had written Rocom of. I think we shall see how good the Hawk is at putting this company in to top 50. But maybe I am being optimistic:D

Either way it has been great so far and I am sure the run is not finished.[:p]
Never forget the Hawk will look after number one first, but having said that I have done very well out of this stock.
"Equiticorp mark two" in the making ? Anything is possible with this guy.........SJ

Steve
07-08-2005, 11:39 AM
I notice that the Directors have been buying recently. This could explain the increased volume of late...

Disc:Hold CYT from the 17.5c placement

swissboy
31-05-2006, 04:27 PM
now i am beginning to worry. Down to 10c with a 37.5% drop in the last3 weeks. Half yearly result out next month too. whatsup.

shasta
16-10-2008, 09:28 PM
now i am beginning to worry. Down to 10c with a 37.5% drop in the last3 weeks. Half yearly result out next month too. whatsup.

ROC - Investor Presentation

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=525124

Now they have secured AZA, i'm having a look at them again ;)

trader10
27-02-2009, 05:06 PM
My new acquisition for today another oiler PRODUCER I like the Presentation and report...

ROC has released its Preliminary Final Report (Appendix 4E), Directors’ Report and Annual Financial Report for the Financial Year ended 31 December 2008. The key highlights are:



FINANCIALS


• Sales revenue of US$358.2 million (2007: US$208.5 million); up 72% on the previous year.

• Average sales price of US$92.06/BBL (before hedging); a 5.3% discount to the Brent oil
average price of US$97.26/BBL.

• Net cash flow from operations of US$182.5 million (2007: US$138.1 million); up 32%.

• Trading profit of US$163.8 million (2007: US$104.7 million); up 56%.

• EBITDAX (and impairments) of US$312.3 million (2007: $US112.3 million); up 178%.

• Net loss after income tax of US$278.4 million (2007: loss of US$84.4 million) including:

- non-cash asset impairments of US$376.9 million;

- exploration expensed of US$112.7 million; and

- hedging gain of US$38.6 million.


• Normalised net loss after income tax US$66.5 million (2007: loss of US$28.0 million) after
adjusting for significant items.

• Amortisation expense of US$120.4 million (2007: US$81.4 million); up 48%.

• Year end debt of US$168.7 million (2007: US$133.3 million), partially offset by cash of
US$54.3 million (2007: US$41.4 million).

• Funding in 2009 largely underpinned by existing cash flow, existing bank loan facilities and new loan facilities established subsequent to year end.


OPERATIONS


• Production of 4.0 MMBOE from seven producing fields in Australia, Africa, China and UK
compared to 3.5 MMBOE produced from six fields in 2007; up 14%.


• Exploration and appraisal expenditure of US$115.2 million (2007: US$94.7 million) relating
to:

- eight exploration wells (one discovery at Coco-1, onshore Angola);

- six appraisal wells;

- three 3D seismic surveys; and

- one aeromagnetic survey.


• Development expenditure of US$76.2 million (2007: US$57.4 million) relating to:

- Construction, fabrication and installation of new facilities, as well as development drilling activities at Zhao Dong Block, Bohai Bay, offshore China; and

- Ongoing expansion activity at Basker-Manta-Gummy Oil and Gas Fields, offshore Victoria.
Commenting on the 2008 Financial Results, ROC’s Chief Executive Officer, Mr Bruce Clement,
stated:

"ROC’s 2008 Financial Results are dominated by non-cash balance sheet asset
impairments that largely resulted from the fall in oil price during the year. The oil price fell 62% year-on-year and by 64% since the acquisition of Anzon in September. Asset revaluations have resulted in write-downs and impairments of US$376.9 million (before tax), which was a major contributor to the reported loss of US$278.4 million (after tax).

However, underlying these results is a healthy business, with a sound operational and cash flow base, substantial 2P Reserves (24 MMBOE) and development potential from Contingent Resources (23.9 MMBOE). The Anzon acquisition contributed 7.7 MMBOE of 2P Reserves and 18.7 MMBOE of Contingent Resources. The 2008 cash flow from operations was US$182.5 million from production of 4.0 MMBOE.

Current production exceeds 12,000 BOEPD and average operating cost is approximately US$15/BBL. Even in today’s US$40/BBL oil price environment, ROC continues to generate positive operating cash flow.


Importantly, the funding for ROC’s 2009 business plans is largely underpinned by operating cash flow and support from existing lenders. In particular, a new US$35 million bridge facility has been provided by CBA to support development activities in 2009 and the term of the existing US$30 million working capital facility from CBA has been extended to 30 June 2010.


In this uncertain global financial environment and with oil prices at four year lows, ROC’s business strategy is to steward financial resources and to continue focusing on production and development operations. ROC has taken positive action to ensure the business operates effectively in this environment. Exploration expenditure for 2009 has been minimised, development programmes have been structured to focus on delivering optimal financial returns and opportunities are already being pursued to enhance production performance and to take advantage of cost reductions now being experienced in the industry.

ROC is well positioned to take advantage of improvements in oil price, whenever this
may occur, through strong production and development opportunities within its
existing asset base."

trader10
27-02-2009, 05:55 PM
Interesting times ahead for some oilers PRODUCERS....;)



http://www.brr.com.au/event/55258


ROC OIL COMPANY LIMITED

ROC - 2008 Full Year Results Presentation - Mr Bruce Clement, CEO and Mr Anthony Neilson, CFO
Fri, 27 Feb 2009 11:00AM

http://www.brr.com.au/event/55258

:)

JBmurc
27-02-2009, 08:47 PM
been buying up of late as well trader a really good buy at these levels if you want a solid Oil producer for peanuts ROC fits close to the top of the list holding near 80,000 now av 45c Oil could well move north as fast as it fell if the demand starts to outpace production which will happen because of the massive slow down in exploration an alt energy technology the million's of new western's consumers will soak up any built-up reserves quick smart once the cash starts to flow once again

JBmurc
27-02-2009, 08:53 PM
4Q08 production rose 38% to a record 1.3mmboe but below expectations. The increase came due to commissioning of new production facilities at Zhao Dong in China and a full quarter's contribution from the BMG oil fields following the Anzon takeover. This despite a planned 14 day maintenance shut-down of the BMG FPSO. Hallelujah! The Chinguetti-20 infill well raised production 36% there. The notoriously complex field has been a constant disappointment since production began three years ago. Further infill drilling is planned for BMG in 1H09 and Chinguetti in 2010. Sales revenue declined 16% in US$ terms with the weaker oil price, but rose 12% in A$ terms to a record $122m due to currency weakness.

Business Impact: We maintain our Buy recommendation. Underlying production remains strong and ROC says it continues to operate with good margins even at US$40/bbl oil prices. Earnings before interest, tax, depreciation, amortisation and exploration (EBITDAX) margin was 80% in 1H08, a measure we forecast will be substantially maintained in 2H08. EBITDAX has trended favourably, rising for six consecutive halves from $11.3m in 1H06 to $134m in 1H08. Our forecast for 2H08 is $168m. We expect the rising trend to continue to at least 2010, despite weaker oil prices, thanks to higher production and a weaker A$. We sharply reduce our FY08 earnings forecast from 15cps to 4cps due to lower than anticipated 4Q08 volumes and pricing but mostly due to higher exploration. We assume all FY08 exploration expenditure is written off, equivalent to negative 20cps. Our FY09 EPS forecast is marginally weaker at 23cps assuming around 5.0mmboe of output, an oil price of US$45/bbl and A$/US$ of 0.62. We lower our valuation from $3.20ps to $2.95ps after cutting our Tiof valuation. Tiof sits adjacent to Chinguetti in Mauritania but requires more appraisal.

trader10
01-03-2009, 06:32 PM
Dear JBmurc,

Thanks for the thoughts and for the analyses from the broker......btw which broker is this one mentioning a buy ?

$2.95 ???? what time frame ? I think it's a bit too rich IMHO........ I see value on the company but I do not believe in brokers these days.....

cheers ;)

JBmurc
01-03-2009, 07:04 PM
huntleys ---recommend it as a BUY
Yeah 2.95 is way high in the current climate still if for some many reasons OIL increased back to high levels where ROC once traded quit cheaply in some brokers an investors eyes above huntleys value

I'll be really stoked to see it trade over $1 this year which I'm counting on happening

Junior80
02-03-2009, 11:44 AM
I have just picked up a small parcel myself. Let's hope it takes off.

JBmurc
02-03-2009, 11:52 AM
well it costs them $15bbl to get out of the ground so at $44bbl their still making a few dollars on their production

Junior80
05-03-2009, 01:58 PM
A nice little bounce today. Back to my buying price. Let's hope for a couple more days of increase like today. :):)

JBmurc
10-03-2009, 03:31 PM
Austock -report couple months old
ROC looking cheap today with OIL up.

http://www.austock.com/pdf/ROC1.pdf

dayz
11-03-2009, 12:17 PM
I see Huntleys now recommends ROC as a buy as from about a week ago.

JBmurc
11-03-2009, 12:37 PM
Now we just need the market to gain an oz of confidence , a fair oil price $60+ be a good start to wake up the very scared investors IMHO ROC will once again be priced at a fair value $1+ before the yrs out

Ketel One
17-03-2009, 05:00 PM
ROC chart potentially looking good for an entry:
http://iforce.co.nz/i/37c7123e032d1d6f826da0070a68bed1.png

OBV on the up, support in the low 30's, and will break above the current downwards trendline if it closes over 35.5c today.

Huang Chung
18-03-2009, 09:52 PM
In today near the close at 35.5c.

Not sure as yet if this one will be a trade or a keeper....

shasta
19-03-2009, 05:41 PM
In today near the close at 35.5c.

Not sure as yet if this one will be a trade or a keeper....

I like ROC except for it's debt, a cash cow with 10,000bopd + should really be in a better cashflow position.

Management have stuffed up the hedging/impairment side of things, but the purchase of AZA was ultimately a good one.

Not much in the way of reserves (compared to say BPT?)

If/when Oil sails above $US60/bbl, ROC should come good...

JBmurc
20-03-2009, 04:52 PM
I like ROC except for it's debt, a cash cow with 10,000bopd + should really be in a better cashflow position.

Management have stuffed up the hedging/impairment side of things, but the purchase of AZA was ultimately a good one.

Not much in the way of reserves (compared to say BPT?)

If/when Oil sails above $US60/bbl, ROC should come good...

Well with a EBIT of $350,000+ each day their not going broke in a hurry even with the large dept of alittle over 100mill ROC are pulling back exploration massively so they should pay down alot of their current dept this year ,Like most Oilers ROC will look to farm down more of their exploration target's reducing some costs & risks

Ketel One
20-03-2009, 05:10 PM
In today near the close at 35.5c.

Not sure as yet if this one will be a trade or a keeper....

We've had really quite significant volumes over the last couple of days, but the price hasn't gone anywhere. Market sentiment and the price of oil are both positive, so that perhaps accounts for the demand, but it looks to me like there's still a big seller(s?) offloading at 35-36c which means the price hasn't moved.

If that's so, then the price should move north quickly once the seller(s) disappear. (Assuming of course oil/market sentiment don't take another tumble, which is all too likely it seems!) That's my theory anyway :cool:

http://iforce.co.nz/i/22fea468ca00bb01e1a1719b0dce9ca8.png

Phaedrus
20-03-2009, 05:48 PM
We've had really quite significant volumes over the last couple of days...... Sure - but see how the big volumes were on down days. This is bearish.

Superficially, the break of the confirmed trendline looks positive, but see how it was broken by the SP merely crabbing sideways. ROC has been in a trading range for a couple of weeks now.

Need a clincher? Look at the OBV. It is clearly still falling - and in fact its downtrend has accelerated.

Ketel One
20-03-2009, 06:01 PM
Sure - but see how the big volumes were on down days. This is bearish.

Superficially, the break of the confirmed trendline looks positive, but see how it was broken by the SP merely crabbing sideways. ROC has been in a trading range for a couple of weeks now.

Need a clincher? Look at the OBV. It is clearly still falling - and in fact its downtrend has accelerated.

I agree, the continued falling OBV is bearish. Thought it was potentially looking good with the previous chart, but as you say there was no real SP movement out of the trading range, just more sideways.

Thanks for the comments, am a big fan of your posts; I always learn something useful from them.

Huang Chung
20-03-2009, 06:45 PM
OK, dumb question...what does 'On Balance Volume' mean?

Phaedrus
20-03-2009, 07:36 PM
On Balance Volume relates volume to price change. It is calculated by adding the day's volume to a cumulative total when the security's price closes up, and subtracting the day's volume when the security's price closes down.

On Balance Volume is a running total of volume. It seeks to show if volume is flowing into or out of a security. When the security closes higher than the previous close, all of the day's volume is considered up-volume. When the security closes lower than the previous close, all of the day's volume is considered down-volume.
The basic assumption, regarding OBV analysis, is that OBV changes precede price changes. The theory is that smart money can be seen flowing into the security by a rising OBV. When the public then moves into the security, both the security and the OBV will surge ahead.
If the security's price movement precedes OBV movement, a "non-confirmation" is said to have occurred. Non-confirmations can occur at bull market tops (when the security rises without, or before, the OBV) or at bear market bottoms (when the security falls without, or before, the OBV).

The OBV is said to be in a rising trend when each new peak is higher than the previous peak and each new trough is higher than the previous trough. Likewise, the OBV is in a falling trend when each successive peak is lower than the previous peak and each successive trough is lower than the previous trough. When the OBV is moving sideways and is not making successive highs and lows, it is in a doubtful trend.
Once a trend is established, it remains in force until it is broken. There are two ways in which the OBV trend can be broken. The first occurs when the trend changes from a rising trend to a falling trend, or from a falling trend to a rising trend.

The second way the OBV trend can be broken is if the trend changes to a doubtful trend and remains doubtful for more than three days. Thus, if the security changes from a rising trend to a doubtful trend and remains doubtful for only two days before changing back to a rising trend, the OBV is considered to have always been in a rising trend.
When the OBV changes to a rising or falling trend, a breakout is said to have occurred. Since OBV breakouts normally precede security breakouts, investors should buy long on OBV upside breakouts. Likewise, investors should sell short when the OBV makes a downside breakout. Positions should be held until the trend changes (as explained in the preceding paragraph).

Huang Chung
21-03-2009, 12:18 AM
A very quick 'thank you' phaedrus for your detailed answer. I'll re-read and have a think about what you've said over the weekend.

Cheers.

Phaedrus
21-03-2009, 06:55 AM
Not a word of it was mine, HC.
It was all cut, paste and breach copyright!

STRAT
21-03-2009, 12:29 PM
Not a word of it was mine, HC.
It was all cut, paste and breach copyright!Hi Phaedrus,
That was a timely post. I have been watching VPE like a hawk over the last week or so and have noticed on more than one day a higher high was obtained with the last small trade in the after close auction without which the day would have ended flat or possibly down. I was considering the possibility of manipulation but more importantly how this could make the OBV misleading.

Phaedrus
21-03-2009, 12:55 PM
Strat, If you consider this to be a potential problem (I don't) there are other, more complex volume indicators that you could use, eg :-

Price/Volume Trend
Trade Volume Index
Accumulation/Distribution

In actual practice, all of these give near identical plots, so which you use is really just a matter of personal preference.

STRAT
21-03-2009, 01:21 PM
Strat, If you consider this to be a potential problem (I don't) there are other, more complex volume indicators that you could use, eg :-

Price/Volume Trend
Trade Volume Index
Accumulation/Distribution

In actual practice, all of these give near identical plots, so which you use is really just a matter of personal preference.Not a problem as such Phaedrus and as you say the other examples you have given plot in a similar fashion. As an apprentice I just like to nut out possible pitfalls in the design of any tools I use. Helps me with both understanding them and assessing their reliability. Im treating this trade/purchase (vpe so sorry for being off topic everyone ) as an educational exersise a little more than usual.

Huang Chung
23-03-2009, 06:18 PM
Phaedrus,

ROC finished today at 39.5c, which looks to be both clearly breaking the trend line (previous page graph), and (less clearly), moving up from that sideways crab. Vol 6m today, which (as I understand it) claws back some, but not all of that negative OBV indicator.

Enough of my crap though, how do you see today's action?

Phaedrus
23-03-2009, 08:31 PM
Phaedrus, how do you see today's action?Very positively! ROC now has :-
(1) A break of a well-confirmed trendline.
(2) A new uptrend.
(3) A break above the resistance at 38 cents.
(4) An end to the trading range (upside breakout)
While the Up day volume is still less than those big Down days, it is above average - and rising (green bars).

http://h1.ripway.com/78963/ROC323.gif

Huang Chung
23-03-2009, 08:46 PM
Woohoo!

Hope you're right P :).

Huang Chung
24-03-2009, 07:31 PM
A bit of a disappointing finish after reaching 43.5c this morning. Still, ROC's up over 10% in 2 days, so I can't complain.

JBmurc
24-03-2009, 09:06 PM
A bit of a disappointing finish after reaching 43.5c this morning. Still, ROC's up over 10% in 2 days, so I can't complain.

No not at all I think will see 50's very soon once the major seller if he's not already sold out of his holding
On HC their was talk of quite a large amount short sold (which with SP growth lately would have burnt a few of them)maybe some covering of these shorts will give us the big boost back to a fair value for that 47mmboe ROC has in reserves

Huang Chung
25-03-2009, 06:56 PM
Sold on the close at 43.5c.

Mixed feelings here..ROC's run hard over the last few trading days, so may be due for a pull back, but closing on the day's highs might suggest more to come.

Will look to re-enter in the mid to high 30s, if the market will let me.

Good luck JBM.

JBmurc
25-03-2009, 07:24 PM
Sold on the close at 43.5c.

Mixed feelings here..ROC's run hard over the last few trading days, so may be due for a pull back, but closing on the day's highs might suggest more to come.

Will look to re-enter in the mid to high 30s, if the market will let me.

Good luck JBM.

Your never go broke making a profit so aways good to take some if your like myself a Tax paying trader personal I think we'll see ROC move a lot higher over the next couple months talk going round STO will be taken over soon which will be a great news for other ASX oilers with large reserves like the undervalued ROC I'm holding out for $1+ unless oil tanks I wouldn't be surprised at all to see this SP before the yrs out...when sentiment in a sector of the market changes with many positive OIL price, STO takeover(image all the million's of $$$ STO shareholders will look to invest back into the sector which they just got taken out of ROC,AWE,NZO,WPL etc will all have new investors lining up to invest some of their profits back into the undervalued sector ROC by far has been sold down the most by shorters,an major funds selling which in turn need to raise cash to payout their cash strapped investors.

JBmurc
25-03-2009, 08:35 PM
Also talking about taking profits from well oversold shares I did the exact same as you did with OGC paid 18c sold 45c OGC is now 73c it did hit 96c only weeks after I sold IMHO their no reason ROC can do the same esp. if theirs a takeover of a major ASX oiler

Wednesday, 25 March 2009

RUMOURS of an impending takeover continue to swirl around Santos, with old favourites BP and Shell named as likely candidates.



An artists' impression of cargo loading at Gladstone LNG

Reports from Reuters and the Australian Financial Review yesterday named Shell as a possible bidder for Australia’s third-largest oil and gas company with the AFR suggesting that Shell might team up with AGL Energy to launch a joint bid before dividing the assets up between them.

Reuters added BP and Eni to the mix, while an industry source told PetroleumNews.net that besides BP and Shell, BG might also be feeling that it could stomach more after digesting Queensland Gas Company and Pure Energy.

The source did note that while BP was looking for new liquefied natural gas projects or assets, and was considering coal seam gas as an option, the British supermajor could be looking at its options in China and India rather than in Australia.

The speculation comes as little surprise to PetroleumNews.net starting as it did after Santos’s government-imposed 15% shareholder cap was lifted on November 29 last year.

Most of the talk then had revolved around China National Petroleum Corporation, though Santos was quick to say that as far as it knew the reports were pure speculation.

Reuters noted in its latest report that with the close scrutiny over the number of Chinese investments in Australia, it was unlikely that a Chinese bid would be forthcoming.

Santos’s large reserves base and liquefied natural gas projects coupled with the lower Australian dollar make it an attractive buy to any potential predators.

And, it is not impossible for any potential bidders to find partners interested in the Santos assets that do not fit well into their strategy. Cue the various alliances with AGL speculation pieces.

Of the possible bidders mentioned so far, Shell has already made its move in the coal seam gas-to-LNG sector with its farm-in to Arrow Energy’s CSG assets in Australia and overseas.

Some see Shell’s decision to sell its stake in Pure Energy to BG rather than joining the fray as a sign the Anglo-Dutch company is eyeing other targets.

BP, on the other hand, is believed to be keen to bulk up its LNG portfolio with Bloomberg quoting BP exploration and production head Andy Inglis as saying that the company was looking at new opportunities and different sources of gas to expand its LNG production.

With Santos’s Gladstone LNG project with Petronas, its stake in the ExxonMobil-led PNG LNG venture in Papua New Guinea and its interest in the producing Bayu Undan LNG project, Santos no doubt appears to be the perfect candidate for BP’s ambitions.

The latter two stakes are also believed to be the motivation for Italian major Eni’s interest.

Eni has said previously it is keen to expand into Papua New Guinea and it also holds a stake in Bayu Undan.

However, Santos will not be an easy target for any takeover bids.

The company is sitting on a strong cash balance – thanks, in no small part, to its deal with Petronas – and it recently reported a 42% increase in its 2008 underlying profit to $A571.6 million.

Shares in Santos have also defied pressure from the global financial crisis, making it likely that any bidders would have to be prepared to pay a premium, especially if a bidding war breaks out.

JBmurc
27-03-2009, 11:47 AM
Strong buying great bid depth 50c is a coming current SP-45.5c

Huang Chung
27-03-2009, 08:39 PM
aaarrrgh!!.....looks like I made the wrong call :(.

soulman
28-03-2009, 01:22 AM
HC, it's those Insider Trader "stock pick of the week" column. It's ROC for this week and I suppose subscriber buys ROC on their recommendation and conversely, they dumped them for a nice handy gain. Like they say, timing is everything.

whatsup
28-03-2009, 10:44 AM
Soulman can you cut and paste the article, thanks?

Huang Chung
31-03-2009, 07:28 PM
Back in today at 41c with a partially filled order (probably miss out on the balance, but I've bought enough to keep me amuzed..). If ROC has a ROCky day tomorrow, I might manage to pick up the balance of the order.

soulman
31-03-2009, 07:42 PM
Soulman can you cut and paste the article, thanks?

Sure can.

Hi Everyone,

The oil price is low, but it won't stay that way forever.

Roc Oil is one of Australia's leading oil and gas companies and the share price has been hammered recently. There are some signs of a recovery starting to appear though. Directors have been buying and buyer demand has been increasing over the last few days.

Stock Pick of the Week: Roc Oil (ROC) Thursday, 26 March 2009

ROC is one of Australia’s leading independent upstream oil and gas companies.

Incorporated in Australia, ROC listed on the Australian Stock Exchange (ASX) in 1999 and on the Alternative Investment Market (AIM) of the London Stock Exchange in 2004. ROC currently has approximately 590 million shares on issue.

The Sydney-based company has a strong operating emphasis, an international focus and a global workforce of over 250 employees. ROC’s value drivers include:

* proven team with strong technical, operational and financial abilities;

* balanced and diversified asset portfolio;

* exploration in established and frontier regions;

* pipeline of multiple development projects; and

* production from six fields.

Although ROC’s assets are spread across four geographic regions (Australia, China, Africa and UK), the company is predominantly Asian-focused with Australian and Chinese assets providing almost 80% of production and 90% of 2P Reserves.

ROC constantly evaluates the cost effective development and acquisition of new and existing exploration and production assets. ROC’s preference is to take meaningful interests of between 30-40% in such assets, preferably as operator. ROC utilises established relationships with partners, governments and national oil companies to identify and develop opportunities: ROC is the only foreign company operating for Sonangol, PetroChina, CNOOC and Sinochem.

ROC is operator of the following production assets: the Cliff Head Oil Field, offshore Perth Basin, Western Australia; the Basker-Manta-Gummy Oil and Gas Fields, Bass Strait, Australia; the Zhao Dong C&D Oil Fields, Bohai Bay, offshore China. ROC is also the operator of exploration and appraisal assets in: offshore Perth Basin, Australia; Beibu Gulf, offshore China; Cabinda South Block, onshore Angola; Belo Profund Block, offshore Madagascar.

ROC’s exploration activities in 2009 are expected t o include drilling wells offshore Equatorial Guinea, Mauritania and Western Australia and an onshore well in Angola.

ROC successfully completed a merger with Anzon Energy Limited (AEL) in September 2008 and an off-market takeover of Anzon Australia Limited (AZA) in October 2008. This takeover increased ROC’s 2P reserves by approximately 50% to 47 MMBOE (including best estimate gas and condensate Contingent Resources) and is expected to provide production growth beyond 2009.

Huang Chung
05-04-2009, 10:44 PM
Out on Friday at 44c.

See if we can get back in around 40c again for another trade......

Ketel One
04-05-2009, 10:17 AM
Looks like ROC has broken out of its trading range:
http://iforce.co.nz/i/qawn3iq1.png

Have bought and sold between support and resistance a couple of times, but don't hold atm (doh!).

JBmurc
04-05-2009, 12:02 PM
ROC is aware of market rumours that the Company may be subject to a takeover bid. ROC has not received any takeover proposal.
Consistent with previous public statements, ROC continues to evaluate all strategic alternatives concerning the Company's assets, ownership and capital position in the current operating environment.
ROC is in compliance with and will continue to comply with its continuous disclosure obligations.
Bruce Clement
Chief Executive Officer

mmmm can have my 80,000 for $2

ELYOB
04-05-2009, 12:11 PM
A key analyst with the fundies has put a strong recom forward ... A bit of competition to get through the door . ROC has some problems , the Fundies keep seeing these only .....but there also is a good side . The only solution for ROC is a higher POO>>going forwards.........

whatsup
04-05-2009, 12:29 PM
BIG volumn somethingsup! WHATSUP , take over at last after a loooooooong down ward slide!!!

JBmurc
04-05-2009, 12:57 PM
BIG volumn somethingsup! WHATSUP , take over at last after a loooooooong down ward slide!!!

yes very big volume someone want's a piece or the whole lot with maybe first buying up a decent amount cheap .......

JBmurc
04-05-2009, 01:38 PM
By Ross Kelly
Of DOW JONES NEWSWIRES

SYDNEY (Dow Jones)--ROC Oil Co. Ltd. (ROC.AU) Chief Executive Bruce Clement said Monday the oil and gas producer would be happy to consider takeover offers for the company.

Clement said advisor Gresham Investment House has been working with ROC since the start of the year on a strategic review of its business.

"Clearly one of the alternatives is ownership and that includes raising equity and if someone comes along with an offer, we'd be happy to consider it," Clement told Dow Jones Newswires in an interview.

Clement declined to comment on whether ROC is opening a data room. "We're not at liberty to discuss details of what we're doing, but we're looking at alternatives," he said.

"There are lots of alternatives available to us, and like we should be, the board is considering all of them."

Earlier Monday, ROC said in a statement that it hasn't received any takeover proposal.

"Consistent with previous public statements, ROC continues to evaluate all strategic alternatives concerning the company's assets, ownership and capital position in the current operating environment," it said in the statement.

Clement told Dow Jones Newswires that ROC was partly prompted to make the statement by a near 33% rally in its AIM-listed shares in London on Friday.

"We haven't been specifically saying we're out doing equity deals or anything like that, but that we're considering our strategic alternatives and that's equity as well as debt and assets," he said.

"I don't think that should come as a surprise because we've had a lot of feedback in terms of our balance sheet - we had just under US$100 million net debt at the end of the quarter."

"Whilst we feel we can manage that for 2009 without any problems, we need to think about longer term development projects in BMG (Basker-Manta-Gummy) and China that we want to pursue."

ROC said last week that cost cutting has helped it reduce its net debt by US$16.8 million to US$97.7 million by March 31. The company said that it's secured additional debt funding from Commonwealth Bank of Australia through a new 12-month US$35 million bridge facility.

JBmurc
05-05-2009, 09:52 AM
I here on lateline AUS last nite a broker reckon the takeover of ROC was the real deal
interesting days ahead for the smart ROC buyers of late not selling 1 share under $1
with a average holding of 45c I'm very happy with current takeover talk..

Huang Chung
05-05-2009, 06:58 PM
Well done JB...I bailed some time ago unfortunately :(.

JBmurc
05-05-2009, 07:48 PM
Well done JB...I bailed some time ago unfortunately :(.

well it's still got pently to go 40% growth min IMHO
CUE PSA STX are all still cheap buying

whatsup
06-05-2009, 07:32 AM
Have a look at ROC on the AIM via the London Stock Exchange, .32 p up .05 p last night which should under pin the Aussie price today. .32p is what price Aussie?

JBmurc
06-05-2009, 08:47 AM
Have a look at ROC on the AIM via the London Stock Exchange, .32 p up .05 p last night which should under pin the Aussie price today. .32p is what price Aussie?

think it would be round 65c could well be wrong eitherway it's up

whatsup
06-05-2009, 09:31 AM
Its a far cry from the 1.30 pounds, $2.70 Aussie, that AZA traded for when listed in the AIM/ U K .

shasta
14-05-2009, 09:03 PM
Its a far cry from the 1.30 pounds, $2.70 Aussie, that AZA traded for when listed in the AIM/ U K .

Bought some ROC seemingly at the top of it's run, but Huntleys rate them a buy & have slapped on a recent $2.65 valuation.

12,000bopd+ production & almost all oil, means this is a great leverage play to the price of oil.

This wee retrace, might give me an opportunity to accummulate...

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=ROC&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=MACD&ra=2

Corporate
15-05-2009, 06:26 AM
Bought some ROC seemingly at the top of it's run, but Huntleys rate them a buy & have slapped on a recent $2.65 valuation.

12,000bopd+ production & almost all oil, means this is a great leverage play to the price of oil.

This wee retrace, might give me an opportunity to accummulate...

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=ROC&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=MACD&ra=2


Have you got stop loss orders set for ROC Shasta? Or is this more of a LT trade/investment

JBmurc
15-05-2009, 07:06 AM
took small profit an sold 7000 of my 80000 holding at 67.5c wish I sold the lot now... =could have been looking to re-enter at a nice low 50s now still end of year we should be alot higher

shasta
15-05-2009, 11:34 PM
Have you got stop loss orders set for ROC Shasta? Or is this more of a LT trade/investment

I'm not holding anything longer than need be at the mo.

As for ROC, never got around to putting a stop loss in, & plus its volatile i dont wanna get kicked out too often...

Buying more av around 60c, by year end ROC will be $1+ :cool:

shasta
18-05-2009, 05:06 PM
I'm not holding anything longer than need be at the mo.

As for ROC, never got around to putting a stop loss in, & plus its volatile i dont wanna get kicked out too often...

Buying more av around 60c, by year end ROC will be $1+ :cool:

Bailed out at 55c today...

Small loss & will re-assess things

JBmurc
18-05-2009, 05:19 PM
Bailed out at 55c today...

Small loss & will re-assess things

think we'll see ROC hold round the low 50c IMHO still holding pently will move north soon enough still glad to have sold a few at 67.5c

Oil could well bounce over $60bbl soon--------

shasta
18-05-2009, 05:31 PM
think we'll see ROC hold round the low 50c IMHO still holding pently will move north soon enough still glad to have sold a few at 67.5c

Oil could well bounce over $60bbl soon--------

ROC will need oil heading north to reverse it's trend...

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=ROC&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=RSI&ra=2

JBmurc
19-05-2009, 12:42 PM
Bailed out at 55c today...

Small loss & will re-assess things

ROC up 10% today to bad ya didn't wait a day shasta

shasta
19-05-2009, 09:10 PM
ROC up 10% today to bad ya didn't wait a day shasta

Ah yes, but will oil keep rising?

I'm still in NZO so will benefit from a strong tapis price ...

JBmurc
21-05-2009, 07:42 AM
Ah yes, but will oil keep rising?

I'm still in NZO so will benefit from a strong tapis price ...

Oil breaking out of it's 50-60 trend now $61.89

ROC up yesterday to 63c should move higher but...........

"AMID the rush to raise equity, ROC Oil's annual meeting today will seek clearance to raise up to 30 per cent of its issued capital at some point in the future for an unspecified purpose

Might look at taking me short term profits today

JBmurc
21-05-2009, 11:22 AM
I'm out of my ROC postion for a nice profit will be keeping an eye on ROC see how far the cap raising affects sp -as cap raising not annouced yet........

shasta
25-05-2009, 07:17 PM
I'm out of my ROC postion for a nice profit will be keeping an eye on ROC see how far the cap raising affects sp -as cap raising not annouced yet........

ROC - Presentation

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=551696

Primarily an oil producer with ~12000 bopde, some debt but worth watching, with China the joker in it's pack?

tricha
03-06-2009, 08:49 PM
ROC - Presentation

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=551696

Primarily an oil producer with ~12000 bopde, some debt but worth watching, with China the joker in it's pack?

Someone wanted a mouthfull of Rock today, I still hold some from my bad Anzon experience, now down only :( 38%.
Looks like we should have been buying the ROCK Shasta, not Beach.


ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 18.4T
72.5
http://www.stocknessmonster.com/images/arrow_up.gifLast
73
http://www.stocknessmonster.com/images/green_round_small.gif 7 10.6%
6:59 pm
High 73.5
Open 66
Volume 12,010,421
73

Sell 40T
Low 65.5
Prev. Close 66
Turnover $8,419,096

shasta
03-06-2009, 09:18 PM
Someone wanted a mouthfull of Rock today, I still hold some from my bad Anzon experience, now down only :( 38%.
Looks like we should have been buying the ROCK Shasta, not Beach.



ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 18.4T

72.5

http://www.stocknessmonster.com/images/arrow_up.gifLast
73

http://www.stocknessmonster.com/images/green_round_small.gif 7 10.6%
6:59 pm
High 73.5
Open 66
Volume 12,010,421
73

Sell 40T
Low 65.5
Prev. Close 66
Turnover $8,419,096

Debt is still a 4 letter bad word in this market.

Im happy with BPT & NZO getting the Tapis price ;)

tricha
03-06-2009, 10:05 PM
Debt is still a 4 letter bad word in this market.

Im happy with BPT & NZO getting the Tapis price ;)

Yeah but they just put a big hunk of their debt to bed :D


SALE OF 10% INTEREST IN BASKER MANTA GUMMY ("BMG") PROJECT TO PERTAMINA
Anzon Australia Pty Limited ("AZA"), a wholly owned subsidiary of ROC, has executed an agreement for the sale of a 10% participating interest in Production Licences VIC/L26, VIC/L27 and VIC/L28, offshore Victoria, which include the BMG project, to PT Pertamina Hulu Energi, a subsidiary of the Indonesian National Oil Company ("Pertamina"). Total cash consideration for the sale is US$31.5 million, including working capital. Through AZA, ROC will retain a 30% participating interest in and remain operator of the BMG project

trackers
04-06-2009, 08:13 AM
Someone wanted a mouthfull of Rock today, I still hold some from my bad Anzon experience, now down only :( 38%.
Looks like we should have been buying the ROCK Shasta, not Beach.


ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 18.4T
72.5
http://www.stocknessmonster.com/images/arrow_up.gifLast
73
http://www.stocknessmonster.com/images/green_round_small.gif 7 10.6%
6:59 pm
High 73.5
Open 66
Volume 12,010,421
73

Sell 40T
Low 65.5
Prev. Close 66
Turnover $8,419,096

Been watching ROC over the last week with a view to entry (figured it would rerate from the high POO in line with other stocks like TAP) but other opportunities stopped me from pulling the trigger. May look at an entry today on any weakness

tricha
04-06-2009, 06:41 PM
Been watching ROC over the last week with a view to entry (figured it would rerate from the high POO in line with other stocks like TAP) but other opportunities stopped me from pulling the trigger. May look at an entry today on any weakness

Looks like your wish has been granted Trackers.

ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 17T
69
http://www.stocknessmonster.com/images/arrow_down.gifLast
69
http://www.stocknessmonster.com/images/red_round_small.gif 4 5.5%
5:12 pm
High 71
Open 71
Volume 4,361,118
70

Sell 109.3T
Low 68.5
Prev. Close 73
Turnover $3,066,757

shasta
04-06-2009, 08:55 PM
Looks like your wish has been granted Trackers.


ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 17T

69

http://www.stocknessmonster.com/images/arrow_down.gifLast
69

http://www.stocknessmonster.com/images/red_round_small.gif 4 5.5%
5:12 pm
High 71
Open 71
Volume 4,361,118
70

Sell 109.3T
Low 68.5
Prev. Close 73
Turnover $3,066,757

Yet BPT was up 2.5c (3.1%) to 84c :D

That $US31.5m doesn't clear ROC's debt, but does reduce it ;)

trackers
05-06-2009, 10:46 AM
Looks like your wish has been granted Trackers.

ROCROC Oil Company Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/ROC
Buy 17T
69
http://www.stocknessmonster.com/images/arrow_down.gifLast
69
http://www.stocknessmonster.com/images/red_round_small.gif 4 5.5%
5:12 pm
High 71
Open 71
Volume 4,361,118
70

Sell 109.3T
Low 68.5
Prev. Close 73
Turnover $3,066,757

Yuuup, and its going to have a nice bounce today

Lego_Man
05-06-2009, 12:57 PM
Get on it boys, time to ride this mofo to 3 bucks!

COLIN
10-06-2009, 04:57 PM
Thought it was about time I caught the rising tide on this one so bought a few yesterday. I have no complaints about today's 7% rise!
The level of debt doesn't seem to be of too much concern to the market?

Archer
10-06-2009, 05:08 PM
The level of debt doesn't seem to be of too much concern to the market?[/QUOTE]

That's because the debt is being reigned in due to consistent cash flow with emphasis on production. FYO8 EBIT - $270 M - FY09 projected to be similar if not higher due to cost reduction offsetting lower POO. Definitely on my watch very closely . A

shasta
10-06-2009, 07:05 PM
The level of debt doesn't seem to be of too much concern to the market?

That's because the debt is being reigned in due to consistent cash flow with emphasis on production. FYO8 EBIT - $270 M - FY09 projected to be similar if not higher due to cost reduction offsetting lower POO. Definitely on my watch very closely . A[/quote]

ROC has been doing well of late, & i sold out at a loss :confused:

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=ROC

JBmurc
11-06-2009, 07:03 PM
Yeah I'm gutted to have sold ROC bad move 91c last I seen it so much for the upcoming raising dam rumors still I didn't make a loss paying av 45c selling 64c

tricha
11-06-2009, 08:16 PM
Yeah I'm gutted to have sold ROC bad move 91c last I seen it so much for the upcoming raising dam rumors still I didn't make a loss paying av 45c selling 64c

Yeah still a dam good profit JBmurc, Brokers, where on earth do they get these numbers from :confused:
I'm still hanging in there cause I want my money back, what a poor excuse. :(
I'm still down around 20% from when they stole my AZA.

Roc Oil Company Limited (ROC)
Last Updated: 11 June, 2009

.useHand { CURSOR: hand }Aspect Huntley RecommendationValuation Price: $2.40 https://ost.asbbank.co.nz/images/Aspect_Buy.jpg Valuation Date: 09/06/2009

tricha
18-06-2009, 06:19 PM
Rock on, back on track and the green shoot, :p

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=554217




•Underlying business is healthy
–anticipate 2009 operating cash flow exceeding US$100 million at a Brent oil price less than US$50/BBL
–production ~12,000 BOEPD year to date
–funding in place to underpin 2009 business plans, which includes US$90 million to US$100 million development investment

tricha
27-06-2009, 08:41 AM
Rock on, back on track and the green shoot, :p

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=554217





•Underlying business is healthy
–anticipate 2009 operating cash flow exceeding US$100 million at a Brent oil price less than US$50/BBL
–production ~12,000 BOEPD year to date
–funding in place to underpin 2009 business plans, which includes US$90 million to US$100 million development investment


WELL looks like they are going to Rock on and will I top up on this opportunity ??? WE shall just have to see what happens to the price on Monday.


26 June 2009

ROC OIL COMPANY LIMITED ("ROC")
STOCK EXCHANGE RELEASE

Not for release or distribution into the United States or to U.S. Persons Roc Oil Company Limited (ACN 075 965 856) Level 14, 1 Market Street, Sydney NSW 2000, Australia. Telephone: +61 2 8023 2000 Facsimile: +61 2 8023 2222 Page 1

ROC SUCCESSFULLY COMPLETES A$68.8 MILLION SHARE PLACEMENT
ROC has successfully raised proceeds of approximately A$68.8 million in equity capital through a fully underwritten placement of approximately 88 million new ordinary shares. The placement attracted strong interest from a range of existing and new institutional investors at an issue price of A$0.78 per share, determined following a bookbuild.
The placement was oversubscribed with strong demand from Australian and international investors.
Commenting on the equity capital raising, ROC's Chief Executive Officer, Bruce Clement said:
"ROC is pleased with the response to the placement from existing and new institutional shareholders. The equity capital raising will strengthen ROC's financial position, providing the Company with the capacity to move its key development projects forward and to be in a position to commit to investments in the BMG Phase 2 Gas and Beibu Gulf Oil Projects. In conjunction with ROC's operating cash flow, we will be well positioned to exploit existing reserves and resources to grow the business."
Settlement of the placement is scheduled to take place on 2 July 2009, with the issue of placement shares to occur on 3 July 2009.
As previously announced, ROC will also offer eligible shareholders the opportunity to purchase up to A$15,000 (subject to the grant of relief from the Australian Securities Exchange ("ASX")) worth of ROC ordinary shares via a share purchase plan ("SPP"). The record date for participation in the SPP by eligible shareholders is 7:00 pm (AEST) on Tuesday, 30 June 2009. Accordingly, this will include persons who acquired shares on ASX on Thursday, 25 June 2009 and who have not sold those shares and who are otherwise eligible to participate. Further details of the SPP will be provided to eligible shareholders in due course.
The placement was fully underwritten by Morgan Stanley Australia Securities Limited. The SPP will be managed by Commonwealth Securities Limited on behalf of the Company. ROC is being advised by Gresham Partners and Allens Arthur Robinson.
The trading halt that was implemented this morning on the ASX is expected to be lifted prior to the commencement of trading on ASX on Monday, 29 June 2009. There will be no trading halt on AIM during the course of the trading day on Friday, 26 June 2009.

COLIN
29-06-2009, 10:29 PM
WELL looks like they are going to Rock on and will I top up on this opportunity ??? WE shall just have to see what happens to the price on Monday.


[/SIZE]

Tricha - you've seen what happened to the price. Now, what's your strategy?

whatsup
30-06-2009, 09:13 AM
Colin, most of the "selling " imho was shareholders/day traders selling at the "higher " price hoping to tade advantage of the SPP at .78 , even a 10% arbatage is worth it in this market if it comes off but in several recent cases it hasnt .

tricha
30-06-2009, 08:22 PM
Tricha - you've seen what happened to the price. Now, what's your strategy?

WELL at.785 Colin, its not worth buying another 15K worth of shares, @ 78 cents.

whatsup
01-07-2009, 08:30 AM
Tric---,m ROC wont be around at these prices for long, look to the future of the company, .78 just puts a floor under the share price.

tricha
01-07-2009, 07:51 PM
Tric---,m ROC wont be around at these prices for long, look to the future of the company, .78 just puts a floor under the share price.

So does that mean u will be taking the rights issue up, actuually I think there is a 5% below clause included in the issue as well, 5 % in this market is a bonus I suppose.

whatsup
02-07-2009, 08:35 AM
Tric---,m, look at the long term and take advantage of these short window of opportunities, its pretty hard to be right all the time !

tricha
07-07-2009, 09:48 PM
Tric---,m, look at the long term and take advantage of these short window of opportunities, its pretty hard to be right all the time !




•Eligible ROC shareholders to have opportunity to purchase up to A$15,000 worth of ROC shares (subject to ASX approval)•Offer price at lower of placement price or 5% discount to 5 day VWAP prior to offer close•

The way this is shaping, big discount to issue price.:rolleyes:

Lego_Man
07-07-2009, 09:51 PM
Good to see the instos screwed...

JBmurc
03-11-2009, 12:47 PM
ROC OIL COMPANY LIMITED ("ROC")
STOCK EXCHANGE RELEASE
FARMOUT OF CABINDA ONSHORE SOUTH BLOCK, ANGOLA
Lacula Oil Company Limited, a wholly owned subsidiary of ROC, has agreed to farm-out a 5% interest (6.25% paying interest) in the Cabinda Onshore South Block, Angola to Cuba Petroleo ("Cupet"), Cuba’s national oil company. The assignment is on similar terms to the farm-out by Roc Oil (Cabinda) Company to Pluspetrol Angola Corporation announced on 28 April 2009.
ROC will retain a 10% interest (12.5% paying interest) in the block and will be free-carried by Pluspetrol and Cupet through the full 2009 work programme and budget, including the testing of the Coco-1 discovery and the drilling of the Castanha-1 exploration well.
Subject to execution of documentation and receipt of relevant approvals, Cabinda Onshore South Block joint venture participant interests will be:
Pluspetrol Angola Corporation (Operator)......................45%
Force Petroleum de Angola, S.A....................................20%
Sonangol P&P................................................. ...............20%
Lacula Oil Company Limited (ROC)...............................10%
Cuba Petroleo.......................................... ........................5%

evilroyrule
03-02-2010, 11:28 AM
anyone see todays fall as buying opportunity. how much of overall productions does this one downgrade relate to?

looks like i might have missed the window. gotta be quick round here

Doyle
03-02-2010, 11:47 AM
It a a big downgrade, has a big effect on future profitability. Still a see this as a buying oppertunity and will try to pick some up at the right price of course.

evilroyrule
03-02-2010, 12:14 PM
thanks doyle. ill think ill just watch for a bit while i do some homework.

pigeon
03-02-2010, 03:46 PM
not happy :(

Corporate
03-02-2010, 04:14 PM
what a bunch of clowns!

Junior80
05-02-2010, 04:56 PM
Glad I got out a couple of months ago. :)

Can someone with more FA skills than myself put up some numbers to value this company? Is this way oversold or is there a way to go? Thanks in advance.

JBmurc
19-02-2010, 10:27 AM
Oil close to $80bbl

ROC oversold 38c
- market cap 280mill ? there penalty explorers with market values round ROC's with no reserves no production just high hopes...

-Management are rubbish their assets are not at these values a Takeover target?

-ROC has interests in six producing fields including Chinguetti in Mauritania, Cliff Head in WA, BMG in Victoria, Zhao Dong in China and Blane and Enoch in the North Sea. Reported bottom line earnings have been clipped by substantial exploration write-offs under successful efforts accounting

-Even with the downgrade in reserves ROC still has a 2p of 18mmboe
they are likely to poduce 5,000boe per day next fin yr


-Latest news-new oil find??
-CABINDA ONSHORE SOUTH BLOCK, ANGOLA: ACTIVITY UPDATE
Lacula Oil Company Limited, a wholly owned subsidiary of ROC, provides an update on activity at the Cabinda Onshore South Block, Angola.
Production testing is currently in progress on the Castanha-1 exploration well. The Operator has advised that an initial test recovered 400 BBLs of 33ş API oil to surface from a 4 metre test interval (between 2,217 mBRT and 2,221 mBRT) in the pre-salt Chela Formation, which was reported as a maximum flow rate of 2,275 BOPD through a 5/8 inch choke. As previously advised, the well encountered a gross hydrocarbon column of approximately 15 metres between 2,214 mBRT and 2,229 mBRT.
Production testing is continuing and a full evaluation of results will be required before the potential of the discovery can be determined.
Participating Interests in the Cabinda Onshore South Block are:
Pluspetrol Angola Corporation (Operator).......................45%
Force Petroleum de Angola, S.A.....................................20%
Sonangol P&P................................................. ................20%
Lacula Oil Company Limited (ROC)................................10%
Cuba Petroleo.......................................... ..........................5

-JBMURC holds roc an is buying more sub 40c

macduffy
19-02-2010, 11:11 AM
I think you're onto something here, JB.

ROC seems to have found a bottom following the hefty downward revision in the BMG reserves.

I've put it on my watchlist but don't see any hurry to buy until the SP shows some strength.

:cool:

JBmurc
19-02-2010, 11:34 AM
I think you're onto something here, JB.

ROC seems to have found a bottom following the hefty downward revision in the BMG reserves.

I've put it on my watchlist but don't see any hurry to buy until the SP shows some strength.

:cool:

no worry's I might sell some of my 38.5 to you at 60c+ mid year

JBM holding 132000 ROC av 52.5c

JBmurc
26-02-2010, 08:53 AM
I see ROC's likely gross Sales is round $200m costs 60-70m not bad numbers for a 260m market value oiler

could will see the bottom today IMHO wish I waited now already have my lot

JBmurc
01-03-2010, 01:43 PM
-35.5c ROC lowest point will it go lower IMHO no

got of HC


JB Were (25.2.10) have a 12 month price target of $0.55 on ROC.

Comments from their report are below:

"Result:
� ROC's underlying NPAT US$3.7m was below our forecast ($18.9m),with higher costs, higher tax and higher exploration write-off than we expected.
Key Take-outs:
� Basker-5 Decision: The BMG JV will need to make a decision on whether to invest further cash into optimisation activities at BMG - in the short term, a workover of B5 is an option being considered - a Kan
Tan IV rig slot is available and ROC suggests the workover would cost US$40m gross. While the workover could potentially add 1-2mbbls of recoverable oil reserves in the success case, we note ROC encountered difficult conditions when it attempted a workover of this well last year and hence the risk/reward of drilling the well looks uncertain.
� New Opportunities: ROC has a team looking at new opportunities in SE Asia & Australasia. It does have some incremental opportunities in existing projects (eg. Cliff Head), however these don't appear material.
� Likely to Take Higher Risks: Following the earlier than expected decline of BMG, Roc faces a shortened average reserves life (~4 years avg on current production rates or ~6 years if Beibu Gulf progresses).
US$77m of equity was raised in CY09, and hence Roc now has available liquidity in excess of US$100m (US$40m unused debt facility + US$67m gross cash at Dec-09). We believe these two factors combined mean that a higher risk strategy is likely to be pursued in CY10 and on - acquisitions or high risk exploration farm-ins. Given the significant tax losses now held in Roc's Australian entity that appear
unlikely to be used (post-BMG downgrade), this may enhance/distort Roc's view on project economics from potential Australian projects.
� Beibu Gulf Oil: This is ROC's only new growth project, however very little was mentioned today on this project (it comprises 8cps of our 77cps valuation). We see this project as a source of valuation risk given the uncertainty around tolling & processing commercial terms.
Earnings and Valuation Impact:
� We downgraded our earnings outlook in CY10 and CY11 which primarily reflects deferred production (today's guidance for CY10 of 8-9kbd was below our estimate). Our valuation is largely unchanged at 77cps..."

JBmurc
16-03-2010, 06:14 PM
ROC banging on ROCK bottom IMHO brought another truckload today 34.5c average down my total holding of 320k to 42c can't wait to the shorters have to covers their shorts if it can be during a surge upwards on good news all the better ROC should well bounce strongly-

-As at 15 March short selling:
ROC OIL COMPANY LIMITED FPO 6.94%

Dec qtr sales steady at US$51m. Cash of US$67m and gross debt of US$49m after cap raising and asset sale. P‟dn of 0.7mmboe 19% down on last qtr. 2P reserves of 47 mmboe.(think this is now 18mmboe) P‟dn (mostly oil) from six fields in Africa, North Sea, Australia and China. Exploration activity to step up in 2010.

Dr_Who
16-03-2010, 06:16 PM
JB Mure, check your PM mate. :)

JBmurc
30-03-2010, 11:14 AM
ROC growing legs- short covering -burn shorters burn IMHO we have see the bottom in ROC sp for many years to come onwards an upwards
38c close would be very bullish short term

JBmurc
30-03-2010, 06:23 PM
Yes just what I wanted a 38c close even with my novice T/A skills I know this is bullish -how about some T/A experts show as why this is now breakout territory

Sold TAP 1.06 Sold CUE 23.5c brought truckloads of ROC 34.5c Yeah

Ketel One
30-03-2010, 07:01 PM
Yes just what I wanted a 38c close even with my novice T/A skills I know this is bullish -how about some T/A experts show as why this is now breakout territory

Sold TAP 1.06 Sold CUE 23.5c brought truckloads of ROC 34.5c Yeah

Just a TA novice here too, but it certainly looks like it's changing direction:

-OBV turning up
-previous resistance broken / higher highs
-ADX flat/turning up with Pos > Neg
-RSI

http://iforce.co.nz/i/woaw5cg5.png

JBmurc
12-04-2010, 06:25 PM
Enjoying the movement of ROC lately 43c close on the release of their 09 Ann report--

----Interesting piece on their NZ permit------

Canterbury Basin (New Zealand)
The Operator of PEP38259 has
worked to enhance the imaging of the
2D seismic survey which was acquired
over the Barque lead in early 2009.
Results from a Pre-Stack Depth
Migration project are expected during
2010. During 2010, the joint venture will
consider whether to commit to drill
Barque-1, which addresses a mean
recoverable gas reserve of 1.3 TCF and
200 MMBBL of associated condensate

ROC and partners applied for an
exploration licence in New Zealand’s
offshore Taranaki Basin, during 2009.
The submission of a “Priority in Time”
application was for a 232 km2 permit
which contains the Kaheru prospect,
on trend with the Rimu oil/gas and Kauri
gas/condensate fields. The proposed
work programme for the five-year term
would include an exploration well
(Kaheru-1) in 2012. The result of the
application process is expected during
2010. If granted, ROC will operate the
licence with a 50% interest

sharer
28-04-2010, 01:40 PM
ROC quarterly report on operations out today seems quite favourable in parts, but down a bit here or there, another Curate's Egg. They are up to the neck in oil wells all over the Earth - is that a problem? With widely varying shares in various enterprises it is very hard to estimate how the overall business & shareholders' interests are going.
Having got stuck with this one by a side-swipe (Anzon takeover), i keep getting a hankering for something a lot simpler than what we're reading.
JBmurc, i'm looking out for your expert comments when you've had a chance to read the report.

JBmurc
28-04-2010, 03:52 PM
ROC quarterly report on operations out today seems quite favourable in parts, but down a bit here or there, another Curate's Egg. They are up to the neck in oil wells all over the Earth - is that a problem? With widely varying shares in various enterprises it is very hard to estimate how the overall business & shareholders' interests are going.
Having got stuck with this one by a side-swipe (Anzon takeover), i keep getting a hankering for something a lot simpler than what we're reading.
JBmurc, i'm looking out for your expert comments when you've had a chance to read the report.

well actually sold my ROC holdings for a nice profit so am busy with other new investments SSN,PEN,ARD,NAV etc
I'm counting on a higher gold silver price with Nat Gas also moving north at some time soon

sharer
29-04-2010, 01:26 PM
well actually sold my ROC holdings for a nice profit so am busy with other new investments SSN,PEN,ARD,NAV etc
I'm counting on a higher gold silver price with Nat Gas also moving north at some time soon

Thanks. I should be paying more attention to a profitable strategy!

JBmurc
29-04-2010, 04:16 PM
Thanks. I should be paying more attention to a profitable strategy!

Mate I could name you over a doz shares I've sold way to early ROC IMHO will most likely be one ,One hard lesson a trader my learn is not to over trade...
ROC is a great longer term hold if you brought it cheap

h2so4
24-05-2010, 01:34 PM
Bought a pet ROC today.

Assets value probably matches market cap but amazing cash yield at the moment.

Corporate
24-06-2010, 11:51 AM
There has been a lot of director buying lately! Maybe it's time to run the ruler over ROC again.

h2so4
03-07-2010, 10:10 AM
Bought a pet ROC today.

Assets value probably matches market cap but amazing cash yield at the moment.

Stuffed up my cash yield calculation. I'll be outa this one.

JBmurc
27-07-2010, 12:42 PM
Qtr report out -glad to have brought up again at 33c recently---Fact-months ago Obama stated we must deep sea drill because we desperately need to lift are US oil production---

ROC CEO COMMENTS TODAY
Production during the Quarter averaged 8,207 BOEPD, down 5% compared to the previous quarter. ROC is on target to meet its 2010 production guidance of between 8,000-9,000 BOEPD: year-to-date production to 18 July was 8,545 BOEPD.
Production from Zhao Dong improved significantly, recovering after severe winter weather disruptions and achieving production rates that exceeded 25,000 BOPD at Quarter-end. The level of facility downtime due to unplanned maintenance at the Basker-Manta-Gummy ("BMG") and Enoch fields during the Quarter was disappointing.
Year-to-date sales revenue of US$100.2 million strengthened ROC’s net cash position to US$52.7 million at Quarter-end. However, development and exploration expenditure is planned to increase during 2H 2010. Exploration and appraisal activity in 3Q 2010 will include the drilling of the Tuatara-1 exploration well in New Zealand and the drilling of the Castanha-2 appraisal well in Angola.
Progress continued on the Beibu Gulf project during the Quarter: commercial terms for sharing facilities with CNOOC were agreed; documentation of the Supplemental Development Agreement progressed; and internal CNOOC review and approval processes continued. First oil production at the Beibu Gulf project is anticipated in 2H 2012.
Engineering evaluation of development options for the BMG Phase-2 Gas project continued during the Quarter

JBmurc
27-07-2010, 01:25 PM
UBS Australasian Daily Summary 27th July 2010:

ROC Oil. ROC.AX. / June ?10 Qtr: downtime expected in 3Q

* Event: Production and revenue below our expectations:
* Sales revenue of US$50.8m (A$57.7m) was 15% below our forecast and
6% above the March ?10 qtr. Roc claims it is still on target to meet
2010 production guidance of 8,000 to 9,000 boepd (UBSe 8,000boepd),
despite further downtime expected at Blane and Enoch in the Sept qtr.
Mediation regarding the BW Offshore claim commences on 9 Aug.

* Impact: EPS forecasts reduced: ?10 -36.3%, ?11 34.2% & ?12 5.6%:
* After updating the June 2010 qtr with actual data and reviewing our
forecasts, our 2010 EPS forecast has reduced by 36.3%, largely due to
the additional downtime expected over the remainder of 2010 and
adjustments to our operating cost assumptions. Our 2011 and 2012 EPS
forecasts have also decreased by 34.2% and 5.6% respectively due to
revised production expectations and delay of Wei start up to 2H 2012.

* Action: Neutral rating maintained:
* Timing for first oil from the proposed Wei oil development offshore
China has slipped to 2H 2012 (prior 1H 2012). Roc believes FID for Wei
is possible in 3Q 2010. Drilling activity is picking up with three
wells scheduled to commence drilling in the Sept qtr.

* Valuation: $0.49, DCF at 10%
* Our ROC NAV/share estimate is based on a DCF (10% nominal discount
rate) of forecast cash flow over the 2P reserve life of producing
assets and all committed and highly probable projects. Our price
target is equal to our valuation.

----------------------------------------
KeyStatistics
----------------------------------------
Price (23 Jul 2010) A$0.35
US$0.30
12-month rating Neutral (Unchanged)
12m price target A$0.49/US$0.43
Mkt Cap A$0.25bn/US$0.22bn

Full-Year EPS
2010E A$0.02
2011E A$0.02

shasta
03-08-2010, 07:13 PM
UBS Australasian Daily Summary 27th July 2010:

ROC Oil. ROC.AX. / June ?10 Qtr: downtime expected in 3Q

* Event: Production and revenue below our expectations:
* Sales revenue of US$50.8m (A$57.7m) was 15% below our forecast and
6% above the March ?10 qtr. Roc claims it is still on target to meet
2010 production guidance of 8,000 to 9,000 boepd (UBSe 8,000boepd),
despite further downtime expected at Blane and Enoch in the Sept qtr.
Mediation regarding the BW Offshore claim commences on 9 Aug.

* Impact: EPS forecasts reduced: ?10 -36.3%, ?11 34.2% & ?12 5.6%:
* After updating the June 2010 qtr with actual data and reviewing our
forecasts, our 2010 EPS forecast has reduced by 36.3%, largely due to
the additional downtime expected over the remainder of 2010 and
adjustments to our operating cost assumptions. Our 2011 and 2012 EPS
forecasts have also decreased by 34.2% and 5.6% respectively due to
revised production expectations and delay of Wei start up to 2H 2012.

* Action: Neutral rating maintained:
* Timing for first oil from the proposed Wei oil development offshore
China has slipped to 2H 2012 (prior 1H 2012). Roc believes FID for Wei
is possible in 3Q 2010. Drilling activity is picking up with three
wells scheduled to commence drilling in the Sept qtr.

* Valuation: $0.49, DCF at 10%
* Our ROC NAV/share estimate is based on a DCF (10% nominal discount
rate) of forecast cash flow over the 2P reserve life of producing
assets and all committed and highly probable projects. Our price
target is equal to our valuation.

----------------------------------------
KeyStatistics
----------------------------------------
Price (23 Jul 2010) A$0.35
US$0.30
12-month rating Neutral (Unchanged)
12m price target A$0.49/US$0.43
Mkt Cap A$0.25bn/US$0.22bn

Full-Year EPS
2010E A$0.02
2011E A$0.02

ROC - Presentation at Australasian Pace Setters Conference

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=600604

FY10 target 8,000 - 9,000 BOEPD

Net cash $52.7m

Active drilling campaign for the remainder of 2010

JBmurc
04-08-2010, 09:22 PM
[QUOTE=h2so4;309936]Stuffed up my cash yield calculation. I'll be outa this one.[/QUOT

Glad I did up 12% in under 2 weeks

JBmurc
09-08-2010, 05:46 PM
Enjoying the ROC ride of late surprised more aren't involved when it was in the low 30's closed today at -41.5c with much buying pressure behind it mid 40's likely this week well over 50c if they have a commercial discovery at Tuatara 1 + Castanha-2 appraisal well in Angola + Beibu Gulf ongoing work going to plan the ROC could well make the investors some tidy profits

Roc Oil (Tasman) Pty Limited, a wholly owned subsidiary of ROC, advises that at 0600 hours today the Tuatara-1 exploration well was drilling ahead at a measured depth of 982 metres. Intermittent gas shows have been encountered in the well over the drilled interval between 780 and 900 metres. The significance of these shows will be fully assessed by wireline logs after drilling to total depth. No oil shows have been reported to date.
Tuatara-1 is located in PEP38524, Offshore Taranaki, New Zealand.
Tuatara-1 is targeting approximately 80 MMBBL of potential recoverable oil reserves in a typical Taranaki Basin-style trap similar to the Maari oil field, which is located 80 kilometres to the northwest. The well is located in 50 metres of water, around 15 kilometres offshore to the north of the South Island. Tuatara-1 will be drilled to a proposed total depth of 2,025 metres.
Participating interests in PEP38524 are:
AWE New Zealand Pty Limited (Operator)................60%
Roc Oil (Tasman) Pty Limited....................................20%
Kea Oil and Gas Limited........................................... .10%
Carnarvon (NZ) Pty Limited.......................................10%

Corporate
29-08-2012, 09:12 PM
Roc is worth a look in my view


It looks to me that ROC are back on track and squarely focussed on their areas of expertise. Production guidence of 6000-7000 barrels of oil per day confirmed (not gas equivalents).

NPAT of $28m for the HALF YEAR (no fair value adjustment)

Operating cash flow of $50m for the HALF YEAR!

PE of 4!!

Operating costs of $13 per barrel!

Very cheap

Corporate
07-09-2012, 07:12 AM
Good write up for anyone interested

http://www.reuters.com/article/2012/09/06/midcap-rocoil-idUSL4E8K52K020120906

JBmurc
13-09-2012, 05:26 PM
yes got a good amount today been awhile since I've held ROC ,,, even though I missed out on the start of this up trend I think ROC has enough going for it to continue towards the mid 40's without much trouble...4 more drills this year in the Beibu Gulf, Offshore China will keep the interest high in the last Qtr

Corporate
10-10-2012, 03:15 PM
Roc is going great with another discovery, 59m of oil and right next to the current development.

JBmurc
10-10-2012, 03:34 PM
Roc is going great with another discovery, 59m of oil and right next to the current development.

too right trying to get a transfer sorted so I can buy truckloads ROC $1+ likely within short term ...don't think the market really has keeped up to date with ROC forward production and cashflows

Corporate
11-10-2012, 11:59 AM
too right trying to get a transfer sorted so I can buy truckloads ROC $1+ likely within short term ...don't think the market really has keeped up to date with ROC forward production and cashflows

JB, today would be a good one if that transfer has come through.

ROC is cheap on every metric.

6,000 barrels of oil per day and growing

Average production costs of $13 per barrel of oil

Market cap of $290m

$1 not out of the question in the next 12 months

ELYOB
11-10-2012, 01:36 PM
60c in 6 months is my prediction . ASX is not healthy for good valuations

JBmurc
11-10-2012, 01:57 PM
60c in 6 months is my prediction . ASX is not healthy for good valuations

hope your wrong ...Once Beibu gulf is in full production 20,000 bopd of which 20% goes to ROC 4,000 bopd which is $450k a day to ROC $165M p.a to ROC (at current brent prices) Not adding in the recent discovery.....

then you have Malaysia contracts .....

JBmurc
24-10-2012, 01:03 PM
BALAI CLUSTER APPRAISAL DRILLING (BENTARA-2)
ROC advises that BC Petroleum Sdn Bhd ("BCP"), the Company incorporated to operate and manage the Balai Cluster Risk Service Contract ("RSC") in Malaysia, has drilled the Bentara-2 well to a total depth of 2755 metres TVDss (TD) and has encountered hydrocarbons. Shareholders of BC Petroleum Sdn Bhd ("BCP") are ROC (48%), Dialog Group (32%) and PETRONAS Carigali (20%).
The Bentara-2 well is the first well in the predevelopment phase drilling and is located in the Bentara field, offshore East Malaysia. The Bentara-2 well reached TD on 21 October 2012.
Initial assessment based on preliminary logging results indicates an estimated net hydrocarbon pay in excess of 100 metres across a total interval of 650 metres. The logs indicate the presence of multiple hydrocarbon bearing reservoirs. The well confirms the downdip extension of the hydrocarbon columns observed in the Bentara structure. Following conclusion of the logging programme, the well will be cased and completed in preparation for well testing.
Rolf Stork, the Chief Operating Officer for ROC, and also Chief Executive Officer for BCP, said: "This is a very pleasing start to the drilling programme and represents another positive
milestone for both ROC and BCP operations in the region."
The Balai Cluster RSC consists of four fields: Balai, Bentara, West Acis and Spaoh fields. The drilling of the appraisal wells is part of the pre-development phase which commenced in early 2012. On successful completion of the pre-development phase and agreement on the economic viability of the fields, BCP will submit a field development plan and progress to development of the fields.
Alan Linn
Executive Director and CEO
For further information please contact:
David Slack-Smith
General Manager

gazprom1
03-11-2012, 01:07 PM
ROC activities report out for the quarter. Cash balance up to $50 mil from $35.9mil at end of first half. The more I run the ruler over ROC the more compelling the story is. IMO they possibly lost their way in the past few years but with the focus squarley on Asia now they are highly profitable.

Near term drivers are:

1. Beibu exploration wells...first was a success and news due out on 2nd well any day.
2. Balai Cluster apprasial activity - first well a success and 2nd well underway.
3. Zhao Dong exploration well this quarter - should add to productivity in 2013
4. Beibu Gulf development wells and first production year end - coming in on budget and on time. Will materially increase ROC's earnigns but numbers still to be quantified.
5. Block H exploration well 1st quarter next year - White Rse can buy ROC out for $16 million odd.
6. Highly prospective Bohai Bay exploration 2nd half next year.

Only potential stumbling block is the POI. While production costs are low, taxes and royalties take the cream off.

SP has recovered from the bottom but looks ready to run further on continued exploration/ apprasial activity. Is near a 52 week high but along way off its multi year highs.

Here's hoping that ROC rocks!!!=)

Gaz

JBmurc
03-11-2012, 01:23 PM
ROC activities report out for the quarter. Cash balance up to $50 mil from $35.9mil at end of first half. The more I run the ruler over ROC the more compelling the story is. IMO they possibly lost their way in the past few years but with the focus squarley on Asia now they are highly profitable.

Near term drivers are:

1. Beibu exploration wells...first was a success and news due out on 2nd well any day.
2. Balai Cluster apprasial activity - first well a success and 2nd well underway.
3. Zhao Dong exploration well this quarter - should add to productivity in 2013
4. Beibu Gulf development wells and first production year end - coming in on budget and on time. Will materially increase ROC's earnigns but numbers still to be quantified.
5. Block H exploration well 1st quarter next year - White Rse can buy ROC out for $16 million odd.
6. Highly prospective Bohai Bay exploration 2nd half next year.

Only potential stumbling block is the POI. While production costs are low, taxes and royalties take the cream off.

SP has recovered from the bottom but looks ready to run further on continued exploration/ apprasial activity. Is near a 52 week high but along way off its multi year highs.

Here's hoping that ROC rocks!!!=)

Gaz

Yes I think ROC will rock ....EPS--- 10c-12c next year ....a spike in Oil will see that increase(likely after the US election imho) ...
more good discoveries and $1+ is certainly likely 2013....got another bid in to buy more 43.5c

Corporate
03-11-2012, 01:54 PM
Glad you guys are picking up on ROC. I managed to get a stack at ~32c!

JBmurc
03-11-2012, 02:50 PM
Glad you guys are picking up on ROC. I managed to get a stack at ~32c!

yeah great buying is always on my watchlist but ended up buying MPO @ 40's selling 60's at that time still brought my first lot of ROC 37.5c from the MPO sale....

ROC , OXX my two fav oil&gas plays for the next 12months hope to make back my VIL,SSN 2012 losses :(

gazprom1
05-11-2012, 04:33 PM
Once again, another discovery...or extension that is going to be tied back. 58 net oil pay with a single zone at 38m. SP reaction very disappointing - big seller at 45 cents. What does ROC have to do I wonder?? Meo is up 19% today on a potential discovery not 58m net oil.

Time??

Gaz

Discl Hold
Discl

gazprom1
09-11-2012, 04:29 PM
Yes I think ROC will rock ....EPS--- 10c-12c next year ....a spike in Oil will see that increase(likely after the US election imho) ...
more good discoveries and $1+ is certainly likely 2013....got another bid in to buy more 43.5c


JB,

Did you manage to pick up more at 43.5 cents and is it now your biggest holding? I know it has been there a couple of times this week. ROC is my largest holding with an average price of 42 cents so I am very happy with current SP at 45.5....every half a cent gain is a cause for celebration.

Should have more news next week out of Malaysia and the week after out of China.

Gaz

JBmurc
09-11-2012, 05:09 PM
JB,

Did you manage to pick up more at 43.5 cents and is it now your biggest holding? I know it has been there a couple of times this week. ROC is my largest holding with an average price of 42 cents so I am very happy with current SP at 45.5....every half a cent gain is a cause for celebration.

Should have more news next week out of Malaysia and the week after out of China.

Gaz

yeah placed the 43.5c order week ago come back from work and filled so stoked with latest 45.5c sp
my average 39c ......a great core holding IMHO

gazprom1
12-11-2012, 03:14 PM
ROC at an 18 month high.....46.5 cents. Hindsight is a wonderful thing but wish I kept on buying at 43.5-44!!! HZN (one of ROC's partners in China) also at an 18 month high.

Gaz

gazprom1
20-11-2012, 01:40 PM
Bentara 2 Testing news. Testing done on one zone....9.3 meters net oil....1600-2200stb/d. ROC stating that up to 14 zones with hydrocarbon pay potential of over 100 meters. My read is that it is all good news and they are moving onto Balai.

Gazprom

JBmurc
20-11-2012, 04:40 PM
Bentara 2 Testing news. Testing done on one zone....9.3 meters net oil....1600-2200stb/d. ROC stating that up to 14 zones with hydrocarbon pay potential of over 100 meters. My read is that it is all good news and they are moving onto Balai.

Gazprom

yes just checkout the chart tells the story of the complete turn round in the sentiment towards ROC from July 26c to now 48c and still far from overvalued I wouldn't be surprised to see as high as 70-80c early next year

gazprom1
27-11-2012, 09:20 PM
More news today re Zhanghai Block, Bohai Bay and Balai Cluster. Spurred the SP from 44 cents up to 46 cents. SP was retracing back from touching 49 cents to 43.5 cents y'day. Seems to have support around that 44 cent level but many investors still sitting on good profits at 44 cents if bought in late 20's, early 30's. Any technical guys have a view of the ROC chart and where the various levels of support are??

Cheers
Gaz

JBmurc
27-11-2012, 09:55 PM
4230IMHO strong support on the 50 day SMA ...which looks to be round 42.5c ..

4229



looking at the 3yr looks like ROC has made a major resistance round 50c a break above this be very bullish T/A wise


Disc - sold half my holding @ 46c (25% return) trying to buy MPO for a swing trade 42.5c or less

gazprom1
27-11-2012, 10:16 PM
Thanks JB. 50 cents will be a difficult nut to crack.

Good luck with your MPO trade.

Gaz

JBmurc
28-11-2012, 04:05 PM
Thanks JB. 50 cents will be a difficult nut to crack.

Good luck with your MPO trade.

Gaz

yes we going need some big news to drive past 50c onwards to a new muti-year high territory.....ended up buying more OXX but still like to swing trade MPO at these levels

gazprom1
25-12-2012, 01:48 AM
Currently freezing up in the arctic circle....a bit like ROC's share price recently. Have conviction and have bought more yday and at the beginning of the week. Getting set up for a run next year....

Gaz

Corporate
25-12-2012, 06:40 AM
Currently freezing up in the arctic circle....a bit like ROC's share price recently. Have conviction and have bought more yday and at the beginning of the week. Getting set up for a run next year....

Gaz

Same here Gaz.I got a bunch yesterday at 40c - buying in a downtrend and all. I still have a lot of powder dry and if the price did get back to 30c, I would be increasing my holding by many multiples.

I look at ROCs market capitalisation and the margin they make on each barrel, and compare this to other oilers and I can't believe what I see. To think we will be adding another 2,000 bopd in the new year :-)

ELYOB
25-12-2012, 03:47 PM
What is the effect of this current well being done . Has it been reported , I think the SP is diving because of a bad result . Has ROC a problem .

gazprom1
25-12-2012, 07:09 PM
Hi Corporate

Yeah, the downtrend buying tends to get some spicey reaction from some folk
but it doesnt worry me unduly. The revenues are there and the projects are there
so it is just a matter of time IMHO. I had a similar experience with HZN and made
a lot of money. I had a target of 2 million shares when I started buying and currently
at just over 1.3 million so still have a few to buy. Will buy through the holiday period if it continues to trend down.
For me, it is a once in a 2/3 year trade for me.

Hope all is well with you and that 2013 will be prosperous.

Gaz

gazprom1
25-12-2012, 07:16 PM
ELYOB

I have no idea about the current well but there has been no news about the well that
I have heard. There could be some leaked news but it would not be the end of the world.
It is just one well. If there was something wrong with the project that is due online in January
that would be very bad. IMHO I think some traders/ inveators have just taken some profit off
the table and maybe a.seller that wanted to offload before the.end of the year.

Long term ROC is a good buy IMHO and do not like any other ASX oiler more. 2013
could be an outstanding one for ROC...I hope so!!!

Gaz

JBmurc
27-12-2012, 03:02 PM
I think it will and have kept hold of my lot outside a small sell @46c ..cashflow's should impress next year

gazprom1
27-12-2012, 08:07 PM
SP up 10% today on no news. Confirms my belief that the recent sell off was not based on any specific news vut rather profit taking and/ or a seller liquidating a position.

SP could go either way over the next couple of weeks on light volume unless we have news from the company.
Will take time to re-rate and will require stable markets.

Gaz

Corporate
29-12-2012, 08:37 AM
Glad to have purchase a few at 40c the other day :-)

COF going well for me also!

Hope you are well Gaz.

Corporate
06-01-2013, 08:46 AM
ROC closed at 46.5 on Friday. With positive markets nex week I think we will see a push for the 50c barrier. If this is broken I'd suggest holding tight but 80c+ in the near term.

ROC is the most underrated oiler around IMO.

gazprom1
07-01-2013, 01:12 AM
Hi Corporate

Hope the new year has started off well for you. Been out of coverage for the week but happy to see ROCs SP at 46.5. Agree with you that 50 cents is a barrier but could push through it with some good news re start up of production in china. Have not heard a peep re the lastest drill so not sure what the story is there. Under the continuous disclosure requirements one would have though that either they have found nothing or found something. Who knows. Should also be some news out of malaysia re.drilling.

Looking forward to the week ahead.

Gaz

JBmurc
10-01-2013, 04:29 PM
I so should be swing trading ROC(was very close to selling @ 47c) how many times have we seen this range trade from Oct 8th when ROC broke into a 40c close since then we have been down 39c to high 48c ....a good three swing trades of min 10% could have been made easy if one was committed ....all I've done was sell half at 46.5c .....39c coming again ?? time to top up if it does ....and if it moves back towards 47-48c a sell to buy lower .....all dependent on news of course as I do think ROC will break into its next trading range before mid year 50c-60c etc

JBmurc
11-01-2013, 10:15 PM
Roc Oil weathers big chill in China
PAUL GARVEY
January 10, 2013 12:00AM
ROC Oil's operations in the Bohai Bay of China have managed to withstand the region's coldest winter in more than 40 years, with the company's Zhao Dong oil field avoiding the shutdowns being experienced by other platforms in the region.
David Slack-Smith, a spokesman for Sydney-based Roc, told The Australian the company's experience in the region meant it was well prepared to deal with the recent weather extremes.
Mr Slack-Smith said the company had previously taken steps to protect Zhao Dong from the harsh winter conditions, including the installation of pipelines to replace barges that had previously unloaded oil from the production platform. The company and its partners in the field had also contracted an icebreaker vessel for the duration of the winter. "It's slightly more extreme than usual this year, but it's not impacting on our daily production at all," he said.
Chinese oil and gas giant CNOOC has had to call in a fleet of 13 icebreakers to help ensure that production can continue at its fields in Bohai Bay.

gazprom1
15-01-2013, 11:58 PM
Hi JB

Yep, Would have been great to trade the past several weeks. Has a chance to go to 40 cents again especially if the market is weak. Volumes are reasonably low so can be pushed down easily. Sentiment towards the stock seems fairly neutral. I am going to buy again around 40 cents. I am waiting for that breakout above 50 cents and hope it goes.

News from Balai drilling was good but not amazing. Not as good as previous Balai cluster drill. Depends on the liquids / gas mix and the production test results.

No news re impending hook up of new field!!!

Gaz


I so should be swing trading ROC(was very close to selling @ 47c) how many times have we seen this range trade from Oct 8th when ROC broke into a 40c close since then we have been down 39c to high 48c ....a good three swing trades of min 10% could have been made easy if one was committed ....all I've done was sell half at 46.5c .....39c coming again ?? time to top up if it does ....and if it moves back towards 47-48c a sell to buy lower .....all dependent on news of course as I do think ROC will break into its next trading range before mid year 50c-60c etc

Corporate
25-01-2013, 07:24 PM
Bought some roc at 42c today. Such good buying

gazprom1
01-02-2013, 06:42 PM
.....finished at 50 cents today...impressive week for ROC. The activities report didn't set the world alight IMO but the target of first oil in Q1 2013 is still there so management must be highly confident. Balai Cluster announcement today that 3rd well has spudded.

Gaz

Corporate
01-02-2013, 07:22 PM
.....finished at 50 cents today...impressive week for ROC. The activities report didn't set the world alight IMO but the target of first oil in Q1 2013 is still there so management must be highly confident. Balai Cluster announcement today that 3rd well has spudded.

Gaz

Gaz I think it was horizon's more bullish quarterly....reserve and production upgrade mentioned!

gazprom1
01-02-2013, 07:43 PM
Gaz I think it was horizon's more bullish quarterly....reserve and production upgrade mentioned!

Thanks Corporate. I will take a look at it. ROC's volume has been healthy the past three days. SP looks bullish but the market will tell us next week.

Your buy last week was excellent. My bids were too low so missed out.

Gaz

JBmurc
01-02-2013, 08:41 PM
well always liked ROC fundamentally with brent oil @ $115bbl (likely they would even get higher tapis prices ?)

but now it's broken out of the resistance @ 48c and throw in the massive volume traded .....last time we had that kind of volume ROC moved from low 30's to 45c ....

think we''ll see it move towards 57-58c without much resistance .(going off the last trading range)

---last time ROC was at 50c was some 3yrs ago !! the Bull trend continues ....

I see the crazy bots didn't like the price moving up ...with many stupid small sells into the bids

sold my MPO and doubled my ROC holding only wish it was last week ....

JBmurc
14-02-2013, 07:14 PM
ROC is ROCKin 60c close .......sold my lot 59c think it would range trade before moving much higher,,,, fingers crossed we'll see mid 50's next week so I can buy back in again

JBmurc
20-02-2013, 01:07 PM
Sold bit early but now it looks like a retrace mid 50,s will do

JBmurc
12-03-2013, 03:30 PM
Back in now at 52c after finally getting away from rms with a slim profit

Penfold
12-03-2013, 06:47 PM
Tempted to buy more... any thoughts before I push the button? There's a lot to like about this company. Exposure to Asia the main one. Balance sheet looks fine too. I see its value north of 60c and don't understand why its so unloved.

gazprom1
12-03-2013, 07:26 PM
Hi Penfold,

As you may know, I am a big fan of ROC but I ligthened up when it went over 60 cents. My reason was that it had come from sub 30 cents so lots of punters sitting on 100% plus (I was not one of those but still sitting on clsoe to 50% up) in a relatively short period of time. Beibu gulf announcement is imminent as is an update on the Balai cluster drilling.

ROC's balance sheet is rock solid=)=)

Gazprom

Discl: hold

JBmurc
12-03-2013, 07:53 PM
Yes I think the recent retrace in the oil price and the presentation
Putting some conservative numbers on production put most of the downwards pressure along with profit takers
Ended up buying another lot .515c ......think you see the same sellers coming back over the next fortnight buying up to over 60

Penfold
12-03-2013, 08:28 PM
Thanks guys. My take was profit taking was having a major effect, so it lines up with your thinking. I bought in the low 40's, so understood the temptation to sell at 60. I will accumulate more tomorrow instead. Its got a nice stream of relatively positive news and a solid balance sheet. I would like to see it sell its UK assets... especially the field that requires work to get it back online. Flick the African assets too. Focus on Asia and Australia.

gazprom1
13-03-2013, 02:55 PM
Hi Penfold,

I am sitting on the bid at 50.5 this afternoon trying to buy a few but not too many.

Re their African assets, I think White Rose (? or something like that) has an option to pay ROC out before a drill on their patch - I do not believe the market attributes any value to this asset. From ROC's presentations, they are focussed almost entirely on Asia which IMHO is a great thing. They have relationships with the chinese majors which can only bode well for them. Not sure they will be too active in Australia unless something very attractive comes along.

Waiting for news...
Gazprom

JBmurc
13-03-2013, 04:50 PM
Hi Penfold,

I am sitting on the bid at 50.5 this afternoon trying to buy a few but not too many.

Re their African assets, I think White Rose (? or something like that) has an option to pay ROC out before a drill on their patch - I do not believe the market attributes any value to this asset. From ROC's presentations, they are focussed almost entirely on Asia which IMHO is a great thing. They have relationships with the chinese majors which can only bode well for them. Not sure they will be too active in Australia unless something very attractive comes along.

Waiting for news...
Gazprom

--Yes ROC focus on Asia is a smart move(Biggest growth in demand) and I would be happy to see ROC diverse non-core assets or J.v down the risk/costs................
---IMHO with Roc's focus and success you could see the likes of a Asian major running the ruler over ROC .....In many metric's ROC is cheap to peers

I'm continuing to buy 51c LOL now once again my biggest holding

gazprom1
22-03-2013, 02:41 PM
Announcemnt out re Beibu gulf development....oil is flowing!!! ROC's announcement is conservative and lacking detail as per normal but HZN's announcement has more info concerning reserve upgrade and potential flow rate. ROC did say that the development will exceed project expectation.

SP has done nothing......friday afternoon/ priced in...???

Gaz

JBmurc
28-03-2013, 12:32 PM
Well like the title of the thread ...WHATSUP ROC.....was smashed down to 43c !!!!on average volume now bounced back to 48c.....days like this I wish I had a low ball bid in ROC....

JBmurc
07-04-2013, 07:28 PM
Can't say I know of a better Oil producer.. currently looking forward to a solid bounce back in ROC's SP.....value wise the numbers tell the story the SP isn't showing us ..like the 15mboo 2p reserves ...at ROC's current market value those reserve oil barrels are only worth $22ea
that of course gives Zero value to so many assets ,permits,production,90mill in cash & investments,mgmt etc

JBmurc
23-04-2013, 05:06 PM
Am flabbergasted at ROC sp movement 37c??? marketvalue=266mill

From 2012 ann report
- 106mill trading profit
- 57mill in cash
-15mmboe in 2p reserves (thats 6.5 yrs of production at 6500boepd)
-costs to produce only $15

and best of all 2013/14 looking good to grow those numbers...

now I know Brent oil had dropped 10% but ...ROC shareholders WHATSUP!!

JBmurc
23-04-2013, 05:09 PM
Am flabbergasted at ROC sp movement 37c??? marketvalue=266mill

From 2012 ann report
- 106mill trading profit
- 57mill in cash
-15mmboe in 2p reserves (thats 6.5 yrs of production at 6500boepd)
-costs to produce only $15

and best of all 2013/14 looking good to grow those numbers...

now I know Brent oil had dropped 10% but ...ROC shareholders WHATSUP!!

Disc -brought more today bringing me average down to--47c

Penfold
23-04-2013, 08:23 PM
ROC shareholders WHATSUP!!

I doubled my holding today too. I really can't work ROC out. Unless we are about to find out some horror news, it is likely small investors spooked by the fall in oil prices are driving this.

I live in hope Woodside or someone wanting some Asian oil will take advantage of the weakness and try and buy them out. I need the money to lose on something else.

JBmurc
23-04-2013, 08:57 PM
'The key to making money in stocks is not to get scared out of them.'
– Peter Lynch

esp when they are making a mozza profit and growth path is strong......

Corporate
27-04-2013, 07:22 AM
JB

I bought back in at 39.5c/40c yesterday :-) far to cheap

JBmurc
27-04-2013, 02:01 PM
JB

I bought back in at 39.5c/40c yesterday :-) far to cheap

yeah certainly is as everything's going to plan outside shareholders losing there heads so much value here ..you should see 50%-100% return for a year hold IMHO

Corporate
27-04-2013, 04:10 PM
yeah certainly is as everything's going to plan outside shareholders losing there heads so much value here ..you should see 50%-100% return for a year hold IMHO

Agreed! I'm going to get some more next week as well.

zigzag
28-04-2013, 10:32 AM
I don't think this valuation complaint is specfic to ROC. It seems to be a common problem across the whole sector. Punters on other threads such as TAP, OEL etc are pretty much echoeing opinions expressed on this thread. At some stage of a global recovery you could reasonably expect this sentiment to change for the better. I've held SXY and BRU for a couple of years now, with mixed results, and have been looking for an oil play, to diversify from the unconventional gas thing. However I got a bit waylaid and bought into DTE at 5.6c. Next one will be a more conventional oil company.

JBmurc
28-04-2013, 03:03 PM
If there was ever a time to BUY ROC this would be it ---Beibu development adding more production ann. due any day now .....recently reserves increased 3p-- 36mmbls ..ROC 19.6% interests my est.2500boepd+ (HZN has 26.95% interest and believes it will add 4,000boepd+ to it's bottom line production)

Also with the fourth "Balai cluster" well drilled with 20m net HC play .....ROC has 48% interest in the balai cluster development ...we get a right flow-rates and it's announced economic ROC SP will get another strong kick higher 70c+

-Going from the ann. report ROC was producing at 6,500 boepd DEC12 ...you add the upside to production above ..and you can see why ROC is such a good growth stock....and worth much more than 270-280mill the market gives it ..

"Lincoin Best ASX 10 stock picks for 2013"

http://www.asx.com.au/resources/investor-update-newsletter/201212-lincolns-best-stock-picks-for-2013.htm

-8 of the 10 have done very well so far in 2013 PNA & ROC the only two down

9. Roc Oil Company (ROC): Strong

A Stock Doctor Star Stock, ROC is an oil and gas company with a main focus in Australia, China, United Kingdom and South-East Asia. ROC achieved a high level of success with its drilling results at the Beibu Gulf project. Production from the asset is expected to begin in early FY13 and this should translate into strong results in FY13 and FY14. There is potential for further upside to resource reserves and production estimates as further exploration wells are being drilled.

Penfold
29-04-2013, 12:53 PM
Quarterly production report out this afternoon. Initial reaction looks pretty positive. http://http://www.asx.com.au/asxpdf/20130429/pdf/42fj1hplz6jdmr.pdf

gazprom1
04-05-2013, 05:36 PM
Been buying ROC the past couple of weeks. Way overweight but numbers should be compelling. Oil prices have recovered somewhat and are at a one month high. ROC management do not seem overly interested in promoting the company/ SP which is a bit of a worry. HZN provide a lot more detail re production from Beibu than ROC....looks like total production from beibu will ramp to 18,000bopd in q3. Around 3,500 net to ROC. Will take ROCs production to around 10,000 bopd....$1 million per day gross.

Gaz

ELYOB
04-05-2013, 06:12 PM
I joined the Rocky Road yesterday , after pondering HZN for months . In the end , I worried about HZN PNG sovereignty issues and the large debt burden . HZN has not progressed with farm out of PNG assets, to lighten the load ! So , the road forward is here . Can understand Roc not saying everything in detail as some would want , as in reality , it may end up being different . I think there are plenty on the side lines waiting for a moment of entry , I have an insight here . There is another group who dream of ROC crashing back to <35c on a bad day like previous dip, but they are unlikely to get that now . More buying for me this coming week ! It will get harder to enter , and a slight change to ASX sentiment will make this pop! Watch for a new ROC model coming out soon by a Perth broker. [don't ask me ! please]

JBmurc
10-05-2013, 11:13 AM
AGM presentation live in 50mins .....Big sellers look to have run out of stock of late strong move up today likely 50's next week

48c and rising

gazprom1
10-05-2013, 11:24 AM
AGM presentation live in 50mins .....Big sellers look to have run out of stock of late strong move up today likely 50's next week

48c and rising

Hey JB,

It is incredible really.....less than two weeks ago it touched 33 cents....nearly a 50% gain since then. All on the back of NO news. Just shows the panic selling that prevails sometimes. Key is to have cash to take advantage at those times. Not sure we will get anything too exciting out of the AGM???!!!!

Gaz

JBmurc
10-05-2013, 11:31 AM
Hey JB,

It is incredible really.....less than two weeks ago it touched 33 cents....nearly a 50% gain since then. All on the back of NO news. Just shows the panic selling that prevails sometimes. Key is to have cash to take advantage at those times. Not sure we will get anything too exciting out of the AGM???!!!!

Gaz

Yes wasn't sane selling more so had to sell NOW .... now looks like we are back to normal rid of the dead wood holder ....nothing but buyers today ...looking back at the 33c low madness was 3.4mill vol that day ..since then we've had round 7mill volume to see as now back at 48c

gazprom1
10-05-2013, 12:17 PM
Did Love mention 8,000bopd JB??

I see the slide at the end of presentation states objective is 6,500-7,000bopd.

JBmurc
10-05-2013, 12:41 PM
talk of average 2013 8,000-8,500 boepd ..

gazprom1
10-05-2013, 12:45 PM
....comment was average for Beibu for the year so ramp looks good.

MOST interestingly so far was his comments on 09/05 Bohai Bay. Risked reserves of 43mln/bl. CEO said he couldn't possibly give/ disclose the unrisked numbers because they are so large!!! Mmmmm!!!!

JBmurc
10-05-2013, 12:50 PM
....comment was average for Beibu for the year so ramp looks good.

MOST interestingly so far was his comments on 09/05 Bohai Bay. Risked reserves of 43mln/bl. CEO said he couldn't possibly give/ disclose the unrisked numbers because they are so large!!! Mmmmm!!!!

Yes beibu my connection keeps breaking having to resent ....wasn't 100% ....still ROC Boepd growth wise is looking great

did just sell my 38c purchase for 48c.....hope to buy back 45-46c or less

gazprom1
10-05-2013, 12:52 PM
Yes beibu my connection keeps breaking having to resent ....wasn't 100% ....still ROC Boepd growth wise is looking great

did just sell my 38c purchase for 48c.....hope to buy back 45-46c or less

...I am laughing here at home as I sold my 36.5 of two weeks ago at 47.5!!!!!!

ROC looks in safe hands at the moment.....will probably under-promise and over-deliver. Good stategy.

gazprom1
10-05-2013, 01:34 PM
SP 49 cents....hope we can hang onto that until the close. Been an excellent couple of weeks in terms of SP movement.

ELYOB
11-05-2013, 12:05 PM
Lets hope the steady buying keeps on for a few more days next week I am looking for 56c . Peter Strachan is saying we are headed for a trading target 60c a couple days ago..... well maybe!

JBmurc
15-05-2013, 09:52 PM
Lets hope the steady buying keeps on for a few more days next week I am looking for 56c . Peter Strachan is saying we are headed for a trading target 60c a couple days ago..... well maybe!

ROC trading history looks to nearly away trade in ranges 40-50 etc ...have currently got a bid 46.5c sell at 50c (moved it down from 55.5c from start of the week) hoping take some profits from the swings in the ranges(have done before).....think it could as easy hold 50-55 range on good ann..60's for sure round mid-year ...

sharer
17-05-2013, 01:04 PM
....think it could as easy hold 50-55 range on good ann..60's for sure round mid-year ...

Reading the latest report yesterday,have overcome difficulties of recent 12-18 mths, production stats again favorable, except for Ni price still depressed.
As usual the new prospects seem good. Cu & Au might become significant sometime soonish. Still no debt to worry about.
I foresee a prosperous retirement, some day ...

JBmurc
17-05-2013, 01:47 PM
Reading the latest report yesterday,have overcome difficulties of recent 12-18 mths, production stats again favorable, except for Ni price still depressed.
As usual the new prospects seem good. Cu & Au might become significant sometime soonish. Still no debt to worry about.
I foresee a prosperous retirement, some day ...

think you posted on the wrong thread mate...

As for ROC low volume no real direction today pulled my bid lifted my sell to 56c.....

Corporate
19-05-2013, 06:31 AM
JB I think be careful with selling Roc. I believe we will head towards $1 this year

JBmurc
19-05-2013, 06:39 PM
JB I think be careful with selling Roc. I believe we will head towards $1 this year

Yes for sure ...just trying to increase my holding through swing trading ROC ....so far I've done not to bad ...but yes is risky if ROC does breakout strongly an i have to pay more to get back on board .....so far my trade prices.....Brought 38c-42c-50c sold 56c-59c ....re-brought 52c-51c-38c sold a few 48c-49.5c ...
hoping to either buy a few more mid 40's sell mid 50's to buy low 50's to high 40's) all depends on short term direction...be nice to have 100,000 shares when i started with 70k odd before take-off towards $1

sharer
21-05-2013, 01:36 PM
... think you posted on the wrong thread mate...

My apologies JB, you are quite right. It was meant for MCR, another of my chronic anxieties.

JBmurc
28-05-2013, 03:36 PM
Roc's Vic gas project set for sale
May 28, 2013, 7:22 am
Peter KlingerThe West Australian

Roc Oil and partners in the Basker Manta Gummy gas project off Victoria have begun the process of selling the mothballed asset after appointing Tim Woodall's Miro Advisors to find a buyer.
Mothballed for about a year, Basker Manta Gummy is thought to contain a 350 billion cubic feet gas resource.

Roc and partners, which include Beach Energy and Indonesia's Pertamina Hulu, are hoping that rising east coast gas prices will spark significant interest for BMG, in the Gippsland Basin.


Japan's Sojitz, which is a minority partner in BMG, is understood to not yet have agreed to a sale, although that should not impede the Miro process, given it has a mandate from about 87 per cent of the project's owners.

BMG was a much-hyped asset and has produced three million barrels of oil for its owners since 2006, until a decision was taken in 2011 to shut down the operation and leave the gas undeveloped.

Despite the fast-rising east coast gas price, BMG is no longer considered core for Roc, which has a new focus on South East Asia, and Beach, which is a big player in the Cooper Basin and earlier this year cemented a farm-in deal with Chevron over some of Beach's shale acreage

JBmurc
29-05-2013, 01:17 PM
Well wish I never left a 47c buy order in(went to work believing ROC would likely hold the low 50's by now) now after selling half at 49.5c ....42c is a screaming buy ....ROC will for sure bounce back towards 50c unlikely like most of the resource/energy sectors to see TAX loss selling ...planning to buy more if my OGC trade sells

ELYOB
30-05-2013, 12:15 AM
Luck saw me sell at 50c , now sitting at 40c . Might step up and get my fill again .... waiting! I am sure no matter what punters have done , this will be a winner for all in good time . Interest in AWE was strong today as love started to return to the patch ! There is going to be more of this , after a lousy 18 months for oil&gas. I am looking at 60c in next 6 months for ROC , and if this doesn't happen , it is time to give the game away ....

gazprom1
19-07-2013, 02:14 PM
POO is US$108......with the correction of the AUD and the ramp up of Beibu oil I am expecting a good quarterly report but the numbers should only improve as the production increases. Quarterly due out on the 30th. Hope we see more guidance on the production numbers.

SP 51 cents.....looks good buying with a mkt cap of only $350mil and revenue of close to $900k - $1mil per day.

Gaz

gazprom1
01-10-2013, 10:44 PM
ROC down to 47.5 cents. Disappointing. Previous quarterly was no-where as good as I would have thought. This quarterly should be significantly better given Beibu was pumping more oil than previous quarter and the POO was probably a good 5-10% higher than previous quarter. Management IMO do nothing to promote the company and very little detail is ever given about how our Malay project is going. No news on farm out of Bohai Bay. As JBM has stated elsewhere, it seems that some oilers are run more for the benefit of management than shareholders. I have written several times to the company and while they do write back, their responses are meaningless and lack detail....IMO it looks like shareholders are just an irritation!!!! On a positive note, ROC is very profitable and its prospects are good. I have realised good profits historically and believe that there is more to be made.

Not yet willing to buy more at this level but another 2-3 cents down and I will be a buyer again.

Gaz

JBmurc
01-10-2013, 10:59 PM
ROC down to 47.5 cents. Disappointing. Previous quarterly was no-where as good as I would have thought. This quarterly should be significantly better given Beibu was pumping more oil than previous quarter and the POO was probably a good 5-10% higher than previous quarter. Management IMO do nothing to promote the company and very little detail is ever given about how our Malay project is going. No news on farm out of Bohai Bay. As JBM has stated elsewhere, it seems that some oilers are run more for the benefit of management than shareholders. I have written several times to the company and while they do write back, their responses are meaningless and lack detail....IMO it looks like shareholders are just an irritation!!!! On a positive note, ROC is very profitable and its prospects are good. I have realised good profits historically and believe that there is more to be made.

Not yet willing to buy more at this level but another 2-3 cents down and I will be a buyer again.

Gaz

Yeah is bloody infuriating Gaz ..Can't believe ROC isn't higher this Qtr their sales average should top $110bbl AUD oil price
I do like ROC but as we can see S/P isn't major concern for mgmt ..now I'm sure if their pay was connected to S/P performance they'd
push the company more to the market,,,,but really we're just mushrooms to them 99% of the time

Corporate
02-10-2013, 01:40 AM
I have always like ROC and I don't mind at all that they aren't out there trying to pump the share price. I'd much rather they focus on the business in front of them.

What I would like to see, however, is greater clarity on how they are going to extract value from their malaysia activities. They've now spent over $50m and I still haven't seen a clear presentation of what the returns are likely to be. It is also very hard to assess the risk - could ROC end up writing off the investment entirely?

JBmurc
02-10-2013, 02:38 PM
I have always like ROC and I don't mind at all that they aren't out there trying to pump the share price. I'd much rather they focus on the business in front of them.

What I would like to see, however, is greater clarity on how they are going to extract value from their malaysia activities. They've now spent over $50m and I still haven't seen a clear presentation of what the returns are likely to be. It is also very hard to assess the risk - could ROC end up writing off the investment entirely?

I don,t think they,d have to go overboard like some micro oilers do
Just give us a forward plan with forecast numbers on current energy prices
Across all the projects

gazprom1
09-10-2013, 11:16 PM
Roc mkt cap $317m.....SP 46.5 cents. I can't work it out.....will be interesting to see the numbers for the last quarter. Could go lower in the coming days....

Gaz

gazprom1
10-10-2013, 01:49 PM
....good news, 3D Seismic completed early for 09/05 and 40% farm out to HZN...interesting. Option to farm in for 40% on a 2 for 1 promote for 2 wells. SP up 8.6%. They could get their act together and get the drill sorted a bit earlier than anticipated.

gaz

JBmurc
31-10-2013, 02:45 PM
Been buying again of late the higher AUD lower Oil price keeping a lid on the SP also no divi talked about think many S/H hoped to see one ...3rd Qtr read pretty well--7,215 boepd
-70.6mill AUD revenue
- 46mill in cash

----4Q should see a much higher net profit with less costs and the highest production number for the 2013 year 7500boepd+

thought we would have been much higher by now ....glad I just trade rather than buy and hold long term etc ROC been great for trading..
think we will see 70's now not to next year

ELYOB
02-11-2013, 12:06 AM
Also, if one reads latest Presentation close , the next 12 months will see the high leverage block 09/05 commence drilling . Close study of the block sees much work done and advanced . 6 leads surrounded in an oily area , and ext. to producing assets. We are possibly talking over 100mmbbloe here . HZN are entering the game too...

Corporate
05-11-2013, 11:24 AM
Also been buying this morning. ROC represents great value at these prices!

JBmurc
12-11-2013, 05:40 PM
the balai cluster looking good
ROC advises that BC Petroleum Sdn Bhd (BCP), the company incorporated to operate and manage the Balai Cluster RSC in Malaysia, has commenced a programme of Extended Well Testing (EWT) on the Balai-2 well utilising the recently commissioned Early Production Vessel (EPV) “Balai Mutiara”.
The EWT programme is designed to provide additional production and reservoir performance information, required from the oil fields to support the field development planning process. The EWT programme is the final operational phase in the pre development programme for the Balai cluster fields.
Subject to commercial viability, BCP aims to submit a Field Development Plan and move towards Final Investment Decision by the end of 2013.
Shareholders of BCP are ROC (48%), Dialog Group (32%) and PETRONAS Carigali (20%).

The EWT commenced on 6 November 2013 and flowed for approximately 24 hours before shutting in to obtain pressure performance data. The production is from two perforated intervals in the upper reservoir sands (1,895 – 1,901m MDRT and 1,906 - 1,912m MDRT) and the initial average rate was in the range 4,000 to 4,200 bopd and the oil gravity was measured at 39 deg API.
Following a short shut in period, EWT production has recommenced and will continue for an extended period.

Corporate
12-11-2013, 11:11 PM
the balai cluster looking good
ROC advises that BC Petroleum Sdn Bhd (BCP), the company incorporated to operate and manage the Balai Cluster RSC in Malaysia, has commenced a programme of Extended Well Testing (EWT) on the Balai-2 well utilising the recently commissioned Early Production Vessel (EPV) “Balai Mutiara”.
The EWT programme is designed to provide additional production and reservoir performance information, required from the oil fields to support the field development planning process. The EWT programme is the final operational phase in the pre development programme for the Balai cluster fields.
Subject to commercial viability, BCP aims to submit a Field Development Plan and move towards Final Investment Decision by the end of 2013.
Shareholders of BCP are ROC (48%), Dialog Group (32%) and PETRONAS Carigali (20%).

The EWT commenced on 6 November 2013 and flowed for approximately 24 hours before shutting in to obtain pressure performance data. The production is from two perforated intervals in the upper reservoir sands (1,895 – 1,901m MDRT and 1,906 - 1,912m MDRT) and the initial average rate was in the range 4,000 to 4,200 bopd and the oil gravity was measured at 39 deg API.
Following a short shut in period, EWT production has recommenced and will continue for an extended period.

A very pleasing result indeed :-) I am looking forward to more news flow as we get closer to FID.

JBmurc
04-12-2013, 05:10 AM
ROC getting silly cheap once again brought a few more at 44c bringing my average down to 48c
Balai cluster Ann soon ,,,, Dec qtr results should be impressive
Esp. With oil sales at $122bbl aud we are talking close to 1mill
Per day in oil sales

JBmurc
12-12-2013, 03:57 PM
Leaky ship ??? someone wants out.. ROC has lost some 20% over the last few weeks yet oil sales prices haven't changed more than a couple dollars ...bids 39.5c thinking bout buying more cheap shares but geez thought that at 44c >>>On the back of the increase in production / cashflows ROC should be 70-80c ++

JBmurc
27-01-2014, 05:05 AM
Well think this will be one of the best qtry reports in recent ROC history

Aud Brent oil High at -$124bbl

Fundamentally undervalued this report will show it in black n white

Baha'i update do we get millions back or do will add $,0000bbl extra to our BOEPD

Non core projects movement

gazprom1
27-01-2014, 07:08 AM
Hey JB,

You are no doubt correct re the quarterly. However, I do not believe management will share, via a dividend, any of the profits to us long suffering shareholders. Despite having a large shareholding, I have become very disillusioned with the management of ROC. They do not communicate - we get such limited information around Baha'i or any other project for that matter. Alan Linn has a nice little package and is probably happy wining and dining the chinese - disappointing, very disappointing. I have listened to their half and full year reports and Linn comes across as arrogant and disinterested in engaging us shareholders.

I had been hoping to exit when the shares rallied into the mid 50's but I may be waiting a long time.

Good luck to us all and, you never know, there maybe talk of a dividend - yeah right!!!!

Gaz

JBmurc
27-01-2014, 10:29 AM
Yeah I here u gaz ... Still at just over 300mill market cap for a successive producer with ROC fundamentals is a joke compare it to the likes of AUT 1.27bill market cap producers twice the BOEPD but has huge debt high costs lower sales prices= low margins
Is in shale oil so fast decline rates ...likely they may have to raise funds going from their last qtr yet the market believes its worth 900 mill more than ROC ...doesn,t matter how anti-shareholders mgmt are when a major comes knocking Won,t be long at these levels IMHO

gazprom1
26-06-2014, 06:32 AM
ROC ended up at 60 cents yesterday after coming out with a very short statement that they have received a non-binding, unconditional, incomplete offer for all the share capital of ROC. ROC and HZN are supposed to be merging so whether or not this is an effort to frustrate that merger is anyone's guess. The largest shareholder of ROC is unhappy with the merger and is trying to prevent it. Will be interesting whether a formal binding offer materializes.

Took the opportunity to sell some at 59.5 and 60 cents. Continue to hold with the intention to sell down further.

Gazprom

JBmurc
28-06-2014, 12:09 PM
ROC ended up at 60 cents yesterday after coming out with a very short statement that they have received a non-binding, unconditional, incomplete offer for all the share capital of ROC. ROC and HZN are supposed to be merging so whether or not this is an effort to frustrate that merger is anyone's guess. The largest shareholder of ROC is unhappy with the merger and is trying to prevent it. Will be interesting whether a formal binding offer materializes.

Took the opportunity to sell some at 59.5 and 60 cents. Continue to hold with the intention to sell down further.

Gazprom


Yes talked my mate into loading up with ROC in the mid 40's recently ....temped to tell him to sell at these levels ,,still would need a higher offer price than 60c to T/O ROC IMHO ... talk round of 80c ish ...It's certain a HOLD currently but with so many undervalued Resource Stocks it may well be a smart time to jump ship with a tidy ST profit

gazprom1
01-08-2014, 06:21 AM
ROCs production in excess of 11,000bopd...up 39%. Bentara production has commenced. SP trending up. Half yearly results out on 27 August.

Gaz

JBmurc
04-08-2014, 10:50 AM
China's Fosun agrees $441 million takeover of Australia's Roc Oil

MELBOURNE Sun Aug 3, 2014 7:21pm EDT

(Reuters) - Australia's Roc Oil Co Ltd (ROC.AX) on Monday accepted a A$474 million ($441 million) takeover offer from Chinese conglomerate Fosun International Ltd (0656.HK), saying it was better than its plan to merge with Horizon Oil Ltd (HZN.AX).
Fosun has offered A$0.69 a share, a 10 percent premium to Roc's close last Friday and a 23 percent premium to Roc's share price the day before it announced it had received a tentative takeover proposal from an unidentified party.
"The proposal to purchase all of Roc's shares for cash is superior when considered against the alternative merger of equals with Horizon and offers a significant premium to share
price performance," ROC Chairman Mike Harding said in a statement.

gazprom1
04-08-2014, 11:59 AM
Too cheap JB but still a good result for shareholders. SP has not been near 69 cents for 18 months. Cash offer so clean and done and dusted.

Insider trading must have occurred on Friday....market was down a lot and ROC traded to 64.5. I sold a few so missed out on $A5k.

I am happy though....

Gaz

JBmurc
04-08-2014, 12:23 PM
Too cheap JB but still a good result for shareholders. SP has not been near 69 cents for 18 months. Cash offer so clean and done and dusted.

Insider trading must have occurred on Friday....market was down a lot and ROC traded to 64.5. I sold a few so missed out on $A5k.

I am happy though....

Gaz

Yeah sold a good size chunk in the low 60's re-invested into AKK - HZN ....HZN taking a beating on the T/O over ...do think the merger would be better for long term holders ....would think if the T/O goes through many ROC ex holders would shift funds to the likes of HZN

macduffy
03-11-2016, 11:25 AM
No, not a reincarted ROC, but an interesting read for those who remember its history.

https://www.investsmart.com.au/investment-news/5-from-15-rocs-in-our-heads/138399?utm_source=isgroup&utm_medium=email&utm_campaign=free-midweek-021116