But why the rapid rise in the share price today, and over the past week? Fun and games being played by the instos? To raise the price per share in the raising?
Cheers
"Independent oil and gas company Roc Oil will proceed to undertake a capital raising to fuel growth, according to analysts. The speculation has arisen despite comments by chief executive Bruce Clement stating that improved oil prices, a debt refinancing earlier in the year and the sale last month of a 10 percent stake in Roc’s Basker-Manta-Gummy project had stabilised the company. ‘We’re very much focused on exploiting what we have and growing off the back of that rather than being opportunistic,’ Mr Clement said yesterday."
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