Inital thoughts, I think ROCs' ceo's comment at the end of the document says it all. You cannot find these assets in Oz and you cannot buy cheap oil anymore. The size of project seems to be major boost for ROC (depending on future oil prices) while only a small play to Apache. ROC will be able to bring more focus onto the asset.
I'll have to take a closer look at the details later though.
Makes you wonder whether they really want a smallish asset like Cliffhead anymore?
apache deal, page-3
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