Just a quick look at quarterly numbers and some rough forcasts for ROC:
Q2 sales volume barrels 189,554 barrels Q2 revenue $16,752,000 Av price achieved per barrel $88.38
Q3 barrel prod per day 14,200 days per qtr 91.25 [ha ha quarter day]
Total barrels forcast Q3 1,295,750 Av price achieved Q2 $88.38 Forcast rev Q3 $114,513,035
Annualised $458,052,143.45
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Based on Q2 numbers applied to Q3 forcast production ROC have annualised revenues of about $ 460m. I think this a pretty good number - Av price acheived may go down - but there Av prodcution per day will lift.
Hard to say what the report earnings will be - but there are some high numbers in exploration and development, but this should be offset by additional reserves from Beibu of about 16m barrels [net ROC] capitilised say at AUD 20 a barrel in situ [ =320,000,000]. Neatly offsets exploration and development.
Looking annualised numbers I guess that 450m in rev will deliver 120m in profit [ anyone got a better idea ???]. This gives EPS of about 60c. If you apply a muliple of 10 [not unreasonable given growth prospects and projects in pipeline] you have a target of $ 6.00.
This is based on fundamentals. Now through in a few elephants in Angola, and other activities in Africa you might add a $1.
However you cut - holders are in good ride
cheers
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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