Roc Oil Company (ROC) Stock Recommendation

Roc Oil Company (ROC) have a reduced share price target of $3.80 (from $3.87) while their stock recommendation has been upgraded to Buy/High risk from Hold/High Risk from stocks analyst Citigroup Investment Research (CIR). A JV partner suggests that the Wei 6-12 South oil discovery could be soon declared commercial. If so, a Formal Investment decision could be made in 2H07, subject to full JV agreement. Roc Oil as the Operator is optimistic but taking a more conservative stand. Recent work by the JV seems to have suggested a reserve in the order of 40MMbblsof recoverable oil. A resource of this size could support production of 30,000Bopd (which is good). CNOCC Timetable Could Differ from Existing JV — this is the main risk to an early field development. The Chinese companies have a history of being slow and a portfolio of propositions that they will need to consider and compare to Wei 6-12 South. Angola Drilling 2Q07 — the first onshore well is still expected in 2Q07 (Roc 60%).

Roc Oil Company Limited is listed on the Australian Stock Exchange (ASX) under stock code ROC. You can view their investor website here. ROC was listed on the ASX on 5 August, 1999. Dr John Doran is the CEO of Roc Oil Company and Andrew Love the Chairman. The company is one of Australia's leading independent oil and gas companies, listed on the Australian Stock Exchange ("ASX") and the Alternative Investment Market ("AIM") of the London Stock Exchange with a market capitalisation of around $900 million. ROC operates and has interests in four main regions: Australia, China, West Africa and the UK. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. You can use Instalment Warrants to trade ROC. Check your charts and good luck with your share trading!