solid as a rock, page-5

re: solid as a rock wayang Wayang/Jojo,

What a pleasant suprise China is turning out to be for ROC & PSA. Your numbers look very optimistic to me Wayang, I assume you know some geology. As I don"t, I am not counting anything outside 1.0 km2 yet. Hope you are right of course, and OWC justifies speculation.

Detoured into the ROC AGM on my way back from holiday on the "mainland". Nothing tangible new from the AGM, but I think it fair to say ROC are cautiously optimistic for the 6-12 South follow up, dead keen on the immediate appraisal, and already very confident they have a fair sized quality asset in the bag. I"d have thought after difficulties at Chinq and challenges at Tiof and Cliffhead they"d be delighted with low viscosity oil condensed into such a high porosity pimple.

Doran close to gloated in response to one question, that they had diversity and "only had 3.25%" in Mauritania, but they did express the view that this years Mauritania expl program was more attractive than last years's had looked. Pity for those of us overweight on HDR (aye Jojo), my HDR stake at risk of shrinking smaller than my ROC stake.

Anyway, my conclusion is that despite sp rise ROC is still a great stock to hold.

Entropylord