My take on the fall is due to the fact that the company has...

My take on the fall is due to the fact that the company has announced its intention to spend significant amounts of money on exploration in the last few months. The market is marking down explorers of any kind severley.

This was disappointing since at half year roc was promoting its oil producing capabilities (7,000 boepd)and maybe the market re-rated it based on these figures. I know I did. But true to form Roc couldn't help itself and has gone and got into exploring again with borrowed money of all things.

They have also failed to provided any kind of numbers around the exploration fields in malaysia and china - thus leaving shareholders in the dark as to whats going on.

I certainly wouldn't jump in until the next set of results due in late august.

I wish companies would not over commit on exploration.

I could be wrong - I took a heavy loss in June selling out at 30.5 and switched into BPT as they are more diversified, have more cash/no debt and their exploration is much more promising and has been especially pleasing the the cooper basin.

IMHO.