re: roc : buy Share placement comming
Date: 13/9/2006
Author: Stephen Wisenthal
Source: The Australian Financial Review --- Page: 50
Roc Oil is reportedly considering undertaking a share placement or rights issue. It is believed that the company is examining whether to raise up to $A200 million in equity to help fund the recent $A346 million purchase of Apache China. The purchase, funded via a 12-month bridging loan with the Commonwealth Bank of Australia, has boosted Roc's debt levels to approximately 50 per cent of total assets. Roc shares, which peaked at $A4.57 in July 2006, ended trade at $A3.34 on 12 September
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