A number of things about to happen for ROC in addition to the Mauritanian drilling program They also have onshore Willows 1 gas well drilling to commence soon and will be drilling at least two wells in Northern Perth basin over the next few months. So will be plenty of drilling action.
The open briefing also indicated that they will soon make a final decision on Cliff Head development and probably start some work on their Cabina (Angola) onshore acreage - which, if assuming Mauritania is their most exciting play, is probably their second most exciting play and they have 60% of it (certainly Doran seems excited by its technical prospects - but is still typically cautious).
Some small sell down in ROC in recent days - probably speculators who got set in the hope it would continue rising effortlessly prior to Mauritanian spud. Still, can't go much lower, if at all imho, prior to first spud which should only be a few weeks away [I'm still of the view that ROC is rather underpriced compared, for instance, to HDR].
Holding both HDR and ROC Cheers OG
ROC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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