Im sure the announcement said the effeictive date was 30 june. -...

Im sure the announcement said the effeictive date was 30 june. - but due dilligence still to occure. In short I understand that they are collecting revenue.

Im surprise that ROC is down today - but markets can be confusing. No doubt ROC is like WPL and OXR. Fundamental of profitibility is there - just a question of when analysts snap to attention and realise. I have profitted well from OXR and WPL and expect ROC will play out similarly. esp if Oil keeps above 70 a barrel.

As I understand the field produces around 30,000 bopd. ROCs share is 25% = 7500. This equates @70 barrel to approx 191 m in revenue pa. Of which I have no idea how goes to as tax and royalty. Ops cost would be around 20m and interest on 350m payment about 25m. I think which ever way you cut it ROC is rolling in it.

Why stock went down a little is anyones guess. I did hear someone say that 14,100 bopd means that Cliffhead is contributing about 7000 bopd - which is less than 10kpd forcasted. This is actually wrong as the number of 14,100 bopd is net contribution ie applying ROCs % ownership to the Cliff head production numbers.

Anyway does not really matter - they are carving it up. Trading on multiples near 5. Will be re-rated in good time.

good luck to holders