re: what a winner cort Yes - I just finished going through the...

re: what a winner cort Yes - I just finished going through the report and the Beibu 12s seismic data. If there are any oilers out their - comments please. Otherwise I will have to ask [again !] for favours of aqaintances Id rather not.

The whole report adds other little piece to plug into the ROC puzzle. In regards to China It looks like the previous ne structure is a continuim of the S and SW. But it encountered only a 13meter column of viscous pay. If it is in fact similar to the latest structure I suspect the target needs to be redrilled as should give similar finds. My thoughts only. But it can only be good news.

The Angola stuff was well interesting. I forgot the old Texaco hole having oil shows. Clearly the maps show the fairway, also the mapped and producing chevron [400,000 BOPD] field adjaceent ROCs acreage. No question there is oil. Just a question of how much. Given the prolific and proven nature of the area, I am confident it will reward over and over.

Im not sure what the meeting was like, but reading the report it all seems a bit folksy. Not sure if I like that, but anyway they got notches in the post so who can complain.

As for earlier poster calling ROC overvalued. Well - what can I say except 24cps. The pipeline and quality of projects would easily justify a current pe of 25. I think ROC represents good value under $5. Feels like GBG when i got in at 6.9c and [thanks to mr parrot's tip] plenty of knockers including one fool who poo-poo my post on rising iron ore prices 2yrs ago. anyway ore price has doubled and GBG is 70c now. Rode the ox on a similar wave. and made a killing on WPL. (The only loser in this strategy of riding near producers is LAF. But who can win them all)

I dont think ROC will have as dramatic rise as these guys simply because its sp will be dampened by falling Oil prices - say to USD 50 a barrel during 06. However the goals they are kicking will keep a fire under things.

Maybe another more certain measure of share value is within 10mths they will be producing not less than 11,000 barrells a day. Being the combined ROC share of Cliffhead, Chinguetti, Blane and Enoch. If they book $20 of this they should be running a yearly profit of around 90m. Given the projects moved online the pe should fall from a 25 to a 15 valueing the ROC at $6. Just rough numbers of course. If China comes real good, and Angola and EG then north of $6 is certain. By this point it will be moving into ASX200 territory and Index funds will have to buy in. These will be the salad days. Max 18mnths away. Same track as WPL - who would have believed 18mths ago it was $15. Now $40+ and it still has a ways to go. Not bad capital growth for a non speccie.


good luck to holders....and what is it with ROC drill programs and wild weather ?