Haywire
from JB Were, as I am a client.
and here is an extract from a UBS report dated 5.2.10 at whch time I think the sp was 0.50.
"UBS Wealth Management Australia
ROC Oil Company Limited
After the major Basker Manta reserves driven correction Roc rates as a Buy
The biggest underperformer in our E&P coverage universe�
Roc has been the biggest underperformer in our E&P coverage universe, down 44.7% over the last six months. This compares to the performance of the S&P/ASX200 Energy Index which is down 3.7%, and the S&P/ASX200 Index which is up 7.2%, over the same period.
� but for a reason
Roc has undergone a major share price correction (down 35%) over the last two days from the unexpected 80% downgrade in Basker Manta (Roc 30%) 2P reserves. In addition, severe winter weather and technical issues (electrical fault)
have also adversely impacted Roc�s oil production in China (Zhao Dong).
Roc looks cheap relative to its peers
Roc looks cheap relative to its peers based on our valuation of Roc�s operating assets (refer: UBS Oil weekly) and is now trading at a 32% discount to our NAV.
Roc is implementing a strategy to strengthen it's balance sheet and right size the business. Exploration activity is to pick up over 2010, but from a very low base.
Valuation: A$0.57 DCF at 10%
Our ROC NAV/share estimate is based on a DCF (10% nominal discount rate) of forecast cash flow over the 2P reserve life of producing assets and all committed and highly probable projects. Our price target of A$0.57 (prior A$0.94) is based on our NAV estimate."
Regards
- Forums
- ASX - By Stock
- oversold?
Haywirefrom JB Were, as I am a client.and here is an extract...
-
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ROC (ASX) to my watchlist
|
|||||
Last
11.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $8.931M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.0¢ | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1 | 0.110 |
1 | 7000 | 0.098 |
1 | 47000 | 0.053 |
1 | 15000 | 0.051 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 25000 | 1 |
0.135 | 29500 | 1 |
0.140 | 68829 | 3 |
0.150 | 82372 | 2 |
0.180 | 7000 | 1 |
Last trade - 16.12pm 03/07/2024 (20 minute delay) ? |
Featured News
ROC (ASX) Chart |
Day chart unavailable
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO & MD
Anthony Noble
CEO & MD
Previous Video
Next Video
SPONSORED BY The Market Online