quarterly out

ROC report looks good, as would be expected after the recent issue, debt from the purchase of Apaches producing assets in China is now halved, down from 388 million to 173 million, cash on hand is $61 million.
Some of the highlights are
1. production from Enoch in the second quarter.
2. production from Blane in the second quarter
3. Chinese Govt. approval to proceed with Zhao Dong production plan.
4. 2 wells to be drilled in W.A. during 2007, Frankland and Perserverance.
5. Equatorial Guinea to be drilled in second half of 2007, rig contract with Aban Abraham being finalised.
6. Production at Zhao Dong now increased by 2000 barrels per day as from Jan 9th.
7. ANGOLA, drilling before May, 2 year rig contract signed also the ROC owned rig is also being shipped to Angola.
8 Quarterly income up, even with lower oil price.

IMHO a good report, no nasties and very much a primer
for a successfull year, very steady company with BIG BIG drills at Angola and 3400 barrels per day extra production coming in the second quarter added to the 2000 increase in China production 2 weeks ago, looking good.