ROC

Roc Oil Company (ROC) Update

Wed, 18/06/2008 - 01:13

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 News

Tue, 10/06/2008 - 03:52

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) Update

Tue, 10/06/2008 - 03:25

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: Worst Performer for Week 14 of 2008

Sat, 05/04/2008 - 01:25

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.

Roc Oil & David Jones Losers of Week 5

Sat, 02/02/2008 - 09:04

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: Worst Performer for Week 44 of 2007

Sat, 03/11/2007 - 02:57

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.

Best Performing Stocks Week 42

Sat, 20/10/2007 - 00:50

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.

Australian Energy - Oil Prices

Mon, 08/10/2007 - 21:21

UBS has released some of their analysts' thoughts on the Australian energy sector, especially in the area of Oil Prices. In light of the recent strength in the oil price, the analysts have reviewed two oil pricing scenarios - Futures Curve and WTI spot to determine their impact on forecast EPS, valuations and our share price targets for our Australian E&P company coverage. Scenario 1: WTI Futures curve: average WTI oil price US$75/bbl: Applying the futures curve increases 2008 EPS forecast most for Tap (+84%), Santos (+47%) and Woodside (+41%).

Roc Oil Company (ROC) Share Trading Recommendation

Thu, 01/03/2007 - 16:53

Roc Oil Company (ROC) have a changed share trading recommendation of Hold and a reduced share price target of $3.70 per share from $3.80 from analyst Citigroup Investment Research (CIR). The downgrade follows the three month delays for prospective Angloan exploration to commence. The company reported a disappointing Financial Year (FY) profit result with a loss of $59.6M against CIR's forecast of a profit of $12M and consensus of $10M. Angola drilling to start mid May where the plan is to have two rigs working onshore Cabinda (net 60%). The first well could spud mid May and take six weeks to reach its target (estimated at end June). The plan envisages 3 to 6 wells drilled back to back. CIR estimate a 50% chance that a 25MMbbl field can be delivered. Already offshore Cabinda some 4.5Billion barrels of oil has been found. Big capital expenditure (capex) commitment to accelerate production where the cost to ROC of optimising the Chinese Zhao Dong fields is estimated at US$108.4M (A$142M). The resultant production profile is uncertain and likely to be variable. However, CIR suggests production from the C & D fields could rise from 23,000Bopd towards 27,000Bopd by 2008 and further into 2009 as C4 comes on line. The Chinese Beibu Gulf Field looks good with the Wei 6-12 South JV will commence Front End Engineering and Design (FEED) work on the Beibu Gulf oil fields (net 19.6% after CNOOC backing in) at end 1Q07. A Formal Investment Decision (FID) could be made by end 2007 for a mid 2009 start-up of the 30 to 40MMbbl reserve.

Roc Oil Company (ROC) Stock Recommendation

Tue, 16/01/2007 - 22:46

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%).

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