ROC
Roc Oil Company (ROC) is a leading explorer and producer of oil and natural gas. Roc Oil listed on the Australian Stock Exchange on 5th August, 1999. It listed on the Alternative Investment Market (AIM) of the London Stock Exchange in 2004. To date, ROC issued shares reaches up to 590 million, with over 250 people employed worldwide. The company’s assets are held in Australia, China, Africa and UK. ROC operations are principally focused on Asia. The company’s Australian and Chinese assets contribute circa 80% of the total production, with 90% of 2P Reserves.
Arrow Energy (AOE), one of the major coal seam gas producer and explorer with a current market capitalisation of $2512.1 million was the worst performer in the ASX100 list for the week. The company lost 12.7 percent or 50 cents to its stock price and was closed for the week at $3.43.
Macquarie Office Trust (MOF), a major office properties owner of Australia which is engaged in property investment in Australia, USA and Europe was the worst performer in the Australian Stock Exchange ASX100 index with a loss of 17.3 percent or 4 cents in its stock price and was closed for the week at 19 cents.
Roc Oil Company (ROC) has a maintained Buy/High Risk recommendation and target price of $2.74/share from market analyst Macquarie Research Equities.
Roc Oil Company Ltd (ROC): No EPS Dilution Expected…AZA is a highly profitable company
Australian Resources Weekly provided by Australian market analyst UBS.
What are consensus estimates telling us?
Consensus estimates versus spot prices:
Bloomberg data suggests spot is lower than consensus estimates for lead (-25%), nickel (-23%) and zinc (-19%) and higher than consensus estimates for copper (5%) and oil (28%). The implication is that there could be downside risk to zinc, lead and nickel, if prices do not rise from current levels and hence a negative impact on the stocks exposed to these commodities.
Roc Oil Company (ROC) has two more exploration wells scheduled to test pre-salt targets from Australian stockmarket analyst Macquarie Research Equities.
Roc Oil Company Ltd (ROC): Coco-1 flows minor oil from Angola pre salt reservoirs
Roc Oil was the overall worst performing stock taking in an 11.92 percent decrease. It was a mixture of property development, mining, financial services, and oil companies who were among the worst performing stocks for the week 14 of 2008 on the Australian sharemarket. Valad Property (VPG), Lihir Gold (LHG), Allco Finance (AFG), Roc Oil (ROC), Equinox Minerals (EQN). These worst performing stocks for the week 14 recorded losses above 6.12 percent by the end of the trading week.
David Jones (DJS) took the award for worst performing stock on the ASX100 indices shedding 6.5 percent or 32 cents, closing at $4.59 in week 5 of 2008. Roc Oil was the worst performer on the ASX200 index losing 17.3 percent or 45 cents closing the trading week at $2.14. The ASX100 lists the top 100 companies by capitalisation and vice versa for the ASX200 for companies listed on the Australian stock exchange.
Downer EDI (DOW) was the overall worst performing stock taking in a 13.5 percent decrease. Among the worst performing stocks for the past trading week (week 44 for 2008) on the Australian sharemarket were a mixture of oil, mining and paper: Downer EDI (DOW), Zinifex (ZFX), PaperlinX (PPX), Roc Oil (ROC). Mining companies dominated the worst performing stock lists of both the ASX 100 and ASX 200 indices. These worst performing stocks for week 44 were ranged from 10.5 percent to 13.5 percent in their loss.
Among the best performing stocks last week (week 42) on the Australian sharemarket were a mixture of energy and mining companies: Nexus Energy (NXS), Paladin (PDN), Pan Australian Resources (PNA), AWB, Mt Gibson Iron (MGX), Sino Gold (SGX), Roc Oil (ROC) and Flight Centre (FLT). All the above best performing stocks for week 42 stocks managed more than 10 percent gain on the trading week. Nexus Energy was the overall winning stock taking in a 16 percent increase after new company takeover speculation and the recent increase in the oil price.
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