roc and golden cross, page-2

your golden cross is my big green 'tick'.

ROC has performed beautifully for the risk profile it occuppies.

There is not question that there is a lot more to come:

This week some indication on Beibu gulf reserves. If more than 50mmbl then expect gains of about 20c per 10mmbl over this number.

There is Angola coming up.

There is Enoch and Blain coming on-line and Cliff head settling in - now producer status.

There is Apache buyout. When Beibu goes into production in 2008 it will make ROC the largest producing foreign Oil company in China. Interesting no ? If there is indeed consolidation going to happen in the oil independants ROC would be up the top of the list. West African Assets are exactly what CNOOC and Petrochina are currently scrambling and paying huge $$ to secure. Recently in Angola - USD 100m+ signing bonuses on prospective fields. Crazy but true.

No direction but up for ROC. May fluctuate with price of Oil - but direction will remain unchanged. if anything it appears price of Oil will hold USD70+ in the med term. A good hurricane will send 80+. Likewise if Venezuala , Nigeria, Iran or Iraq implode.

good luck to holders