They may well have it wrong - should see ROC pick up again on...

They may well have it wrong - should see ROC pick up again on Monday.

The announcement of 14100 barrels per day. John Doran is not prone to hyperbole - so this is significant.

Lets see 14100 x USD 75 =1,057,500 or about 1,400,000 dollars PER DAY.

Hard to say - but I would say they are clearing just under a million dollars a day AUD at current prices. Given prices move about, given that Blane adn Enock will kick in later this year - Im betting a net profit about 200m. About a AUD 1 per share.

No matter which way you cut it - a price of 4.30 is well cheap on fundamentals. Watch it get rerated after quarterly results are released.

Then there is still Cabinda drill to come, and course Beibu results and development plan. I would amagine even after dilution Beibu will add another 10,000 barrels a day net to ROC.

BTW - Im not sure if anyone remembers my warning on Santos 9 mths ago regarding the Jeruk field. Hate to say it - but I did tell some people to be careful on Santos regarding that field. Not only are reserves lower.....but flows are difficult as well. I dont think that little turd has come out yet.

cheers to ROC and hold on for the ride