news, page-4

Jeppy
well done
I got another 65 k myselft at .455

Suchislife, they are meant to be reimbursed from production. i think from speaking to the previous IR manager the plan was to develop progressively, so i think Roc may use any funds being returned from inv contribtion of the pre development phase straight back into the development phase. Therefore I dont expect ROC to receive funds from Balai for a while, but they dont need the funds at present as they have plenty of cash and cash flow outside the RSC JV . What they are building is revenue stream for 2 years out that would last for many years which is perfect, as it will suppliment reveneu as Beibu production phase 2 begins to drop off.

As far as I can see Rocs next drilling will be Beibu phase 2 which ay cost Circa 15-20 million. Beyond that they will be carried at a 2 to 1 rate by HZN for Bohai permit for 2 wells, thus this may only cost 5-8 million.

I cant wait for quarterly to see if my predcition of 140 m AUD cash and Inv is close

a good sign it closed up on such a bad day for market overall