Good opportunities are staring you in the face, sometimes.One...

Good opportunities are staring you in the face, sometimes.

One sells other buys, some distressed selling of late, have pushed roc to a PE of 2.8.

EPS of around 15-16c.

anything in the 40's has got to be cheap.

Roc is profitable at 40/bl wih good margins.


All this said before,

comsec have brokers 4 strong buy, 1 moderate buy, 3 hold, 1 moderate sell.

For mine, where do you find a producing oil stock, that as is healthily profitable at the current 40/bl has massive leverage to any upswing in oil price.

If oil heads back to 60/bl,,,what about rocs profit margins?? Double?? certainly a significant boost.

So long as oil hangs about in the 40/bl, even then rock has room to move, and remain viable.

I think the prolonges sell off by nxs, and the distressed selling, (which i spoke to the company, who said there have been some UK distressed sellers recently), have held ROC at lows, while other oilers, have rebounded.

So, IMO, the bouyacny of the stock to return to higher levels, is evident of all opportunistic entry.

I have added again today, at 43.5

IMO, has shown resilience at 42.5 low, and with intraday support taken by position takers, myself included.

Question is, how long will the lows remain, if, selling evaporates?

cheers