ROC - Roc Oil Company

skc · 3 February 2010

YELNATS said:
Roc has today announced about a 70-80% downgrade in its Basker-Manta-Gummy project in Bass Strait. As a result its share price has been decimated by about 30% to about 45c.

On the other hand Beach Energy, also a 30% partner in the project, has had its share price only move a few cents today.

I wonder why the sp of the two companies has reacted differently today. Is it because Beach has already written down its estimate of the project in June 2009 by about 60%?

If so, why has it taken Roc so long to correct their estimate of the project?

Their interest in the project may be the same, but it surely depends on what that account's for the company's overall portfolio of projects?

It may be 1 of 2 projects for ROC, and 1 of 8 projects for BPT?

YELNATS · 3 February 2010

skc said:
Their interest in the project may be the same, but it surely depends on what that account's for the company's overall portfolio of projects?

It may be 1 of 2 projects for ROC, and 1 of 8 projects for BPT?

Point taken, but I still wonder about the timing of ROC's downgrade versus the one done by BPT about 7 months earlier.

dutchie · 3 February 2010

A bad day for ROC about 10% of shares traded.

Support at 40c?

Looks like a bit of inside trading on Monday.

jancha · 4 February 2010

skc said:
Their interest in the project may be the same, but it surely depends on what that account's for the company's overall portfolio of projects?

It may be 1 of 2 projects for ROC, and 1 of 8 projects for BPT?

ROC has 6 producing fields with a P/E Ratio of 7.10.
Huntleys recommendation was a buy but now currently under review.
Wonder what they come up with after they do their sums.
Personally i think its been over sold.
Surely one project doesn't constitute a 35% drop in their sp.

oldblue · 4 February 2010

jancha said:
ROC has 6 producing fields with a P/E Ratio of 7.10.
Huntleys recommendation was a buy but now currently under review.
Wonder what they come up with after they do their sums.
Personally i think its been over sold.
Surely one project doesn't constitute a 35% drop in their sp.

Only if it also represents about 35% of their reserves.

According to reports, the downgrade drops their 2P reserves by 20-25% but then there's also the impact on ROC's credibility.

I also think that the SP drop's been a bit overdone but then I don't hold ROC.

jancha · 4 February 2010

oldblue said:
Only if it also represents about 35% of their reserves.

According to reports, the downgrade drops their 2P reserves by 20-25% but then there's also the impact on ROC's credibility.

I also think that the SP drop's been a bit overdone but then I don't hold ROC.

Cheers for that Old Blue.
Noticed that there was a (becoming a substantial holder in Blackrock investments) in trading news after the close of trade,
Shouldn't it be ceasing to be substantial holder under the circumstances?

zzaaxxss3401 · 4 February 2010

dutchie said:
Looks like a bit of inside trading on Monday.

How does this figure? Most stocks dropped on Monday due to the negative lead from the US on Friday evening. If there was "inside trading" on Monday, then why was Tuesday almost dead flat (but gained) prior to the announcement Wednesday - wouldn't you expect a drop on Tuesday as well?

Current holder of ROC (bought @ 44c Wednesday).

SteeleBryant · 14 February 2010

Roc Oil right down at the moment. They are making their announcement for 2009 on the 23rd of February (or there abouts). They have already made an announcement showing the downgrade of their oil reserves from 18million barrels to 3-5 million barrels. Should be an interesting one to watch up until that date?

rogerpet · 6 March 2010

Notice that orbis mis have been increasing (doubling) their holding in ROC throughout the recent plunge in ROC's SP.

Does anyone have views on what their interest might be? Easy to see from their website that they are openly contrariarian and like to invest in companies whose share prices "do not reflect the intrinsic value of the underlying business".

Seems like a rather big "Punt" - or can they see value that the rest of us can't.

4therecord, I hold ROC (unfortunatley)

Efresh · 21 March 2010

So ROC rallied hard on friday, up 7.4% with no announcement on a generally flat day. Anyone have an idea on what might be behind it? Big Insto buying?

jonnycage · 11 June 2010

ah good old Roc oil, anyone see any glimer of hope in the future
for these guys ? had too many chances ?

j c

jonnycage · 13 July 2010

ok because i enjoy pain got back in at 33.5cents today, might be a quick
flick if there is a bounce : )

j c

Mister Mark · 13 July 2010

I still hold roc (sadly) from cr, dream of a revival one day but not confident, but in my limited knowledge maybee not a bad short trade?

jonnycage · 27 July 2010

anyone following this trainwreck still ? lol ah the days of 80 cents seem so
far away. where to from here ?

j c

cupnoodle · 1 September 2010

I'm looking to join in @ 0.355. Fingers crossed, their previous quarterly report looked promising.

WaveSurfer · 16 January 2011

Potential accumulation taking place. Could take a while to manifest, but this one's on my watch list. Plenty of room to the upside

If it gets back down towards the 30c area on low volume, I might take and punt and buy a little with a tight stop.

zzaaxxss3401 · 25 January 2011

WaveSurfer said:
If it gets back down towards the 30c area on low volume, I might take and punt and buy a little with a tight stop.

I'm anticipating a breakout very shortly - up. Low volumes. Wedge forming. Any reason why you think it might head south?

WaveSurfer · 27 January 2011

zzaaxxss3401 said:
I'm anticipating a breakout very shortly - up. Low volumes. Wedge forming. Any reason why you think it might head south?
View attachment 41026

Hey zz,

Yeah for sure mate, technically she's looking ripe for a move up. Not sure what the funnymentals are saying about this one, I rarely take any notice anyway

What got me interested was this wide spread down on ridiculous volume. I like the close to be up off the low a bit more, but we can't have it all text book. It has knocked the price sideways for the past year.

Can think of a million reasons why it could go south, but the upside is looking like the better punt. Seems to be well supported at 30c with strong resistance just under a buck.

jonnycage · 28 January 2011

2 great recent posts there guys cheers. i did get out earlier in the year after a quick gain, but these guys definately back in the radar zone for me also

jc

wilto · 6 October 2012

No ones posted here for a while. Does any one have an opinion on ROC, I am about to grab a parcel.

ROC - Roc Oil Company

skc

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YELNATS

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dutchie

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oldblue

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SteeleBryant

rogerpet

Efresh

jonnycage

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Mister Mark

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cupnoodle

WaveSurfer

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zzaaxxss3401

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