From our Sunday Telegraph (not murdoch owned!!)Market...

From our Sunday Telegraph (not murdoch owned!!)


Market miscellany
Edited by Grant Ringshaw (Filed: 24/04/2005)



Roc Oil

Take a look at Roc Oil (73p). With crude prices topping $50 a barrel, the share prices of oil and gas explorers have soared. However, Sydney-based Roc, which listed on Aim last year, is one company that still looks relatively good value. It has a market capitalisation of about £135m, but a cash pile of £75m, giving an enterprise value of just £60m.

Roc has interests in a number of promising aresa of the North Sea and Mauritania. Analysts at Seymour Pierce argue the shares are trading at a 33 per cent discount to net asset value, making them risky but worth a punt.