We need a strong quarter and the last quarter wasn't transparent enough for investors.for eg
1 There maybe a delay in Biebu Gulf (maybe)
2 Our bank balance decreased but we had a share buyback and development.
3 Zhanghai Block didn't produce what was expected.
4 $10M extra used in loan, but was this money used for the Malaysian contract, who knows?
Management is developing a strong foundation which they have outlined for the next 2 years. Exploration costs will be down(good to get rid of Africa), no more hedge after 2011 and a high oil price, this crisis is different from the 2008 GFC, price of oil hasn't dropped and no capital raising. ROC is looking good in 2013 with Biebu Gulf, Malaysia and others its just we have to ride this storm.
ROC is building a strong position which we will be rewarded in a couple of years if you can wait.
Go you good thing!
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