roc is a 6-12m hold.
it will eb and flow, on oil price sentiment.
If oil gets to 50-60, we double our profit margins.
ANd all of a sudden, you will see a lot more insto support.
ANd i would tip, on higher oil, a sp rally well past brokers 55c.
There's not too much downside at these levels, oil cant get below its base of 35, or high marginal producers shut up shop, and reduce supply, causing to strengthen again.
ANd then there is opec, who like better margins than they currently have.
So also in the next 12m, if ROC reduce some debts, they will get green lighted by the even more conservative of broking houses.
so thats the hold play,
cheers.
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