ROC last week said in an email that they were to spud the first Angolan well "shortly" and recent presentations have said "later this month" (May) .. so we should see an announcement next week. This first well is estimated to contain 33-180 mbbl (P50-P10) and ROC has 60%. We have seen what AED has done on a good local discovery but ROC's program for the remainder of the year has a much larger upside total of 344-1446mbbl (60% thereof).
I reckon its the most exciting and potentially rewarding drilling program by a junior oiler since the early WPL/HDR et al wells in Mauritania ... only its better because its in a proven and prolific oil province that has a long production history.
I'm in and will accumulate as I also expect crude to stay high and rise further into the northern peak demad period of June -August.
H
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)