Australian (ASX) Stock Market Forum

ROC - Roc Oil Company

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Hi,
Any chartist out there? What do you think about ROC? I've been topping up on this one with a base cost of 40c. At what price would you sell it at? I read somewhere that you sell at a 10% loss & a 25% profit. Any thoughts on this method of selling as i find it hard to sell on something i like & i wine up buy more instead of selling. No dicipline.
 
2million volume at 40/41 cents??

Anyone got a current analysis on ROC??
The 1million volume has been at 41c for the past week. Good number of buyers. Seems like this has been solid support for quite a while now. Very leveraged to the POO, so this is about the only catalyst I can see for the next month or so. But is smart money starting to head into this stock?
Seems very undervalued, but then again it has been for the last couple of years.
 
41 cents is what i got in at a few weeks ago, and holding firm.

id be interested to hear other thoughts also

jc
 
Re: 2million volume at 40/41 cents??

I should add that I have averaged down a purchase at .45c about a month ago today with a purchase at .415 today.
I am thinking that the buildup of US oil inventories must be very close to reversing, I don't reckon that wasting gas guzzling country can resist buring some oil this summer at 2 bucks a gallon (.60c a litre) when last year it was 4.20 (1.20c a litre). They didn't get their summer holiday last year, so they may make up for it!
 
fair points! seems to be on the up today, 43 cents currently.

just needs some big backing to keep climbing : )

jc
 
IF i remember correctly NXS still holds about 14m shares in ROC. And the company isn't in a good shape and dumping stocks at market on a regular basis, which kept the SP down. and the last annual report wasn't pleasing either, due to the purchase of AZN, right before the oil price tanked, so a $300m write down...

If you want to compare valuation between these small oil producers, take a look at AWE, valued at 1.2b. producing about 10kbopd very very similar to ORC, but 5 times the market cap... I've been accumulating when it was pushed to low 30s, been holding since. been reading thru quite a few broker's report as well, all have valued ORC to be around $2... ROC really needs to produce a decent half yr report this yr to prove itself to the market, i think that's when the stock will be revalued.
 
UPKA said:
IF i remember correctly NXS still holds about 14m shares in ROC. And the company isn't in a good shape and dumping stocks at market on a regular basis, which kept the SP down. and the last annual report wasn't pleasing either, due to the purchase of AZN, right before the oil price tanked, so a $300m write down...

If you want to compare valuation between these small oil producers, take a look at AWE, valued at 1.2b. producing about 10kbopd very very similar to ORC, but 5 times the market cap... I've been accumulating when it was pushed to low 30s, been holding since. been reading thru quite a few broker's report as well, all have valued ORC to be around $2... ROC really needs to produce a decent half yr report this yr to prove itself to the market, i think that's when the stock will be revalued.
Click to expand...

I reckon your right there. Lots of negative sentiment from the last 6 months, plus a large net seller on market. Once NXS has reduced their holding, hopefully smart money & lack of sellers will uptick towards at least half of a fair valuation.
Looks like to co is massively reducing exploration expenditure. Hopefully next six months can pay down debt, oil price improvements, then sitting pretty with plenty of oil production & excess cashflow.
By the looks of numbers in reports, need about 400 million to develop BMG gas, decision to be made towards the end of the year. Could possibly raise 400million debt from a nil debt position with great cashflow from a higher oil price?? Other greenfields exploration will probably be on hold for a year or so - to concentrate on current producers & large gas field.

SP increasing today, slightly higher than normal volume with no new large sellers popping up. We'll see if it can crack the 45c short term resistance. Although I reckon it may take $55 oil price for this to initially happen.
 
Just did some quick research, NXS held:
6/1 37 million shares
8/1 advised sold approx 37 million shares.

Should have a nil holding now.
 
have held the stock for around 6 weeks and seems to have strong support at 40c at present huntleys have a valuation above $2
am holding the stock and will sell half if they near 50c
 
great day today team, up 13% to close at 49.5 cents

bit of a run! lets break that 50 cent barrier next week

jc
 
jonnycage said:
g lets break that 50 cent barrier next weekjc
Click to expand...

One can see why speeding ticket issued!!!

ROC $0.565 +$0.070 +14.14% high of $0.575 with 6,756,800 shares $3,632,879 @ 04-May 11:01:03 AM

Date------ Close Volume
01-May-09 0.495 11,082,043
30-Apr-09 0.435 4,454,780
29-Apr-09 0.425 4,562,126
28-Apr-09 0.440 4,754,158
27-Apr-09 0.440 4,771,941
24-Apr-09 0.420 3,107,122
23-Apr-09 0.415 2,401,423


ASX ANN today
04/05/2009 ROC SHARE PRICE
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00949922

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.
 
even better now at 63 cents! making up for some serious lost ground. certainly no complaints after getting in at 41 cents average

jc
 
ROC ran faster than I have anticipated :p, even at 60c, it is still undervalued compared to it's peers. Ultimately, it is good news that ROC is opening up its arms to potential investors into it's projects. Looks like under the current credit market, it is difficult to get funding to ramp up its BMG project, they r desperately to get BMG started so when the oil/gas price recovers, they can start profiting from it.
 
This looks prospective.

Target is about a buck on a break up.

Should put it in the pennant thread I suppose...
 

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Could just be following both the market run and the oil spike (up to 68 a barrel now). Who would have bought, it rebounded this quickly, bought a batch of ROC and holding
 
Just had another run in the last half an hour to 72c now, but oil prices is still ~ 68.5c. Perhaps the rumour has some substance to it?:rolleyes:
 
this one has a lot of catching up to do, could also have something to do
with it. was belted hard.

jc
 
Haha its about time people caught up with this gem. Oils been climbing for the last month with little movement in roc SP. In comparision, CVN has been sky rocketing.
 

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