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re: Ann: Balai Cluster RSC Project Finance Se... Hi corporateAs...

  1. sharks37
    8,720 Posts.
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    16/06/12
    08:35
    Post #: 10312015
    re: Ann: Balai Cluster RSC Project Finance Se... Hi corporate

    As I understand it, the RSC Is a form of farm-in arrangement, so essentially, ROC and the BC petroleum partners are buying into the potential offered by the 4 fields in tha balai cluster. ROC is not taking all the risk, since it is partners in BC petroleum with the Dialog group and Petronas Carigali. I thnik the presentation issued provides a reasonably good explanation of the project. The pre-development phase is costed at $230M, and the development phase another $500M approximately. So ROC is up for 48% of $750M investment.

    The only part of the equation I havent seen is any mention of the potential reserves/resources of the balai cluster fields. This is really needed to understand whether the upfront capital at risk will be reasonably rewarded, or whether the risk is too high. I'd be intrested in seeing any numbers on potential resources for the cluster, if anyone has seen them.

    Cheers, Sharks.
    ROC Price at posting: 34.5¢ Sentiment: Buy Disclosure: Held
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