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BSD looks good at a quick glance; I will have a better look tomorrow when I have more time. I see your point with the reduced PE and it’s a good one. My view on 16 as a multiple was made on the basis that the energy sector historically averages around 13-15 and Roc could potentially extend the life with drilling of Zhao Dong in 07, develop Beibu and still provide exploration upside in 08, thus incorporating a conservative factor of growth into the PE multiple for 08.On something else which is off the topic of Roc and on to base metals, I was after some advice in regards to a question I have on valuing zinc stocks; I will post the comment in the CBH folder, if you wouldn’t mind answering.
BSD looks good at a quick glance; I will have a better look tomorrow when I have more time. I see your point with the reduced PE and it’s a good one. My view on 16 as a multiple was made on the basis that the energy sector historically averages around 13-15 and Roc could potentially extend the life with drilling of Zhao Dong in 07, develop Beibu and still provide exploration upside in 08, thus incorporating a conservative factor of growth into the PE multiple for 08.
On something else which is off the topic of Roc and on to base metals, I was after some advice in regards to a question I have on valuing zinc stocks; I will post the comment in the CBH folder, if you wouldn’t mind answering.
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