Couple of comments.
I would have thought the shut in of the Blane Field as a result of problems at the Ula platform during May was a MATERIAL DEVELOPMENT that should have been reported to the market at the time.
Production from Zhao Dong was expected to be higher as a result of better production than during the winter months But it wasn't.
The fact that all five wells at the Beibu Gulf development have been spudded and batch drilled to me constitutes a MATERIAL DEVELOPMENT that should have been reported earlier.
The fact that the company had pre-qualified for the offshore licensing round to me constitutes a MATERIAL DEVELOPMENT that should have been reported when it occurred with some detail of what and where the 18 onshore blocks are and which ones they have put in for.
The issue of the market being a "popularity" contest was a description of the market by a fund manager interviewed on an ABC business program. He didn't say and nor do I that by being popular gaurantees success just implied that in todays modern market company's have to be more up front with reporting to the market than perhaps they once were. And that to attract attention.
Roc's PR effort in this regard is abysmal!
Problem for ROC is that it doesn't need cash so doesn't appear to have broker support. I do understand that Euroz likes them but haven't seen any research notes.
The fundamentals are there for an eventual re-rating of ROC but gee they don't do themselves any favours with the way they keep the market ill informed IMO.
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