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ROC, ROC OIL COMPANY LIMITED
raauul
post Posted: Aug 4 2014, 10:59 PM
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In Reply To: henrietta's post @ Aug 4 2014, 12:11 PM

I hear ya about the franking credits.

With 60mil cash, the co could offer 9c ff special dividend and lower the offer same? Surely that wouldn't have been too hard to negotiate directors!!

We should probably play hard ball and sit on script or cross fingers another interested party is flushed out.

 
henrietta
post Posted: Aug 4 2014, 12:11 PM
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In Reply To: mercury's post @ Aug 4 2014, 11:25 AM

Hi Merc
I don't know the real value of ROC, but I'm happy to get out at 69. The majority of mine were bought at 41, so I'm happy to consolidate a profit in the present state of financial markets.
I think it will go.
Cheers
J

Ps. Would have been nicer to get the franking credits as well.

 
mercury
post Posted: Aug 4 2014, 11:25 AM
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who is watching this stock? any suggestions as to its speculated value (other than the Chinese bid)?
I hold

 
mercury
post Posted: Jun 27 2014, 02:21 PM
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In Reply To: henrietta's post @ Jun 26 2014, 03:55 PM

look Henrietta....if you hear of some analyst putting a price target on ROC ...let me know will you?

Pity ROC can't say what the out of the blue non-binding offer is.

Yes Horizon won't be pleased. But I would love to know what you and others think ROC is worth.

Merc

 
henrietta
post Posted: Jun 26 2014, 03:55 PM
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In Reply To: henrietta's post @ Apr 1 2014, 05:44 PM

Four year high for ROC amid merger and takeover discussions. Horizon will undoubtedly be unimpressed with latest developments.
Meanwhile the share price rises. smile.gif

Cheers
J

 
henrietta
post Posted: Apr 1 2014, 05:44 PM
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Today's announcements seem pretty positive for ROC. They have extricated themselves from an iffy Basker Manta Gummy venture, and have gained a 50% share in another Asian , shallow water venture, with Petronas. Reserves have increased significantly with the new joint venture, and they sound pretty confident of increasing this with their recent experience in the gulf.

Cheers

J


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jbmurc
post Posted: Jan 23 2014, 08:44 PM
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In Reply To: nipper's post @ Nov 1 2013, 10:02 AM

Looking forward to the Qtr report should be a ripper ....the likes of CNOCC will be as well ....why spend hundreds millions on a couple major wells when you could prob get 8,000boepd for not much more once you take out ROC burgeoning Cash balance



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nipper
post Posted: Nov 1 2013, 10:02 AM
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- Strong Beibu production to continue
-Merrills suggests North Sea sale

-Question of where to invest
-Is Myanmar worth the risk?

By Eva Brocklehurst - FNARena

Mid cap oil producer Roc Oil (ROC) has several options for growth ahead but honing of the development and exploration focus may be necessary. Brokers also have suggestions for what the company can do with its robust cash flow.

BA-Merrill Lynch has a Buy rating and wants to see non-core assets sold. In particular, this means the assets in the UK North Sea. Talisman, the operator of what the broker considers is Roc's underperforming and over-taxed North Sea assets, has flagged a divestment plan. This could be the opportunity for Roc, as packaging its assets for sale with Talisman could result in a higher price. Merrills currently values these assets at US$8m, which is below recent North Sea transaction multiples of US$11/boe of 2P assets. Applying such a multiple to Roc's assets generates a US$16m valuation.

Merrills expects the company to generate substantial free cash flow in 2013/14 of around US$120m and believes it is well placed to fund the longer term organic growth projects. Hence, surplus capital from any North Sea sale could - or should? - be returned to shareholders.

Roc has two Buy ratings and two Hold ratings on the FNArena database. The consensus target is 65c, suggesting 32.1% upside to the last share price. Roc's main assets - African assets are being sold - are in China, Australia and the UK. Production comes from six core producing oilfields, two operated by Roc, with a seventh under development. Sales revenue was up 14% in the September quarter to $68m, on higher oil volumes and a 6% increase in realised oil prices. The flagship Zhao Dong project, in China, is producing solidly and the new Beibu Gulf project, in China, has reached initial targets. The Australian asset, Cliff Head, offshore Perth Basin, is in decline.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: abner29  razer  
 
henrietta
post Posted: Jun 20 2013, 10:49 AM
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Sorry, double post ........ SS website not responding.

Cheers
J

 
henrietta
post Posted: Jun 20 2013, 10:49 AM
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At about 1 million barrels per year for ROC this should be a nice earner for them.


http://www.asx.com.au/asxpdf/20130620/pdf/42gktk3h6g0s3n.pdf


Cheers
J


 
 


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