three amigos are selling, page-21

feel free to beat up on me if you think i am just having a bad day....BUT

total value of shares dumped by directors in the last month or so exceeds $4.5million.....

"small percentages sold" - ????? - again????? - one director has dropped 47% of his holdings, another 38%, another 17% and another nearly 30%. nice bit of "fine tuning" - huh! - WHAT THE??????

director sales in ROC since listing 8 years ago, have been rare as hens teeth. see link below - says no director has bought in period from 8-2004 except Schwebel who bought 30,000 ($94,000 worth) on 13-9-2007:
http://www.theinsidetrader.com.au/overview.php?ticker=roc

on directors selling before 4th quarterly and final results - "hey guys - after all these years, lets not hold our stock for another 2 or 3 months and sell on the back of the great results coming up, lets go the sell-a-thon right now on a low share price and lose money...!!!"

"liquidity problems" - yeah here is transcript of directors meeting below:
- "hey guys, lets all have a liquidity problem at the same time....sound good? - great, let do it, but how do they work anyway?"
- "well - first, we desperately need cash TODAY, got it?
- ok - so banks just won't lend us the money for coupla months - what a jam (...violin plays)!!!
- rules prohibit our selling my ROC for the next 2-3 months, unless ...we sell now !!! (amateur mariachi band fires up in shared joy at finding this solutions - http://au.youtube.com/watch?v=x17bCYgDS7c&feature=related

last minute funding of "Xmas presents"??? yeah, for starters, every child of a director gets a top of the line porsche

nsh says: "So your entire theory on the stock is really the belief that these guys somehow know in advance the results of the 3rd well in Angola".

why confine the "why are they selling" debate to Angolan prospects(?) particularly if "not factored in" to current SP. oil exploration companies are high risk for dozens of reasons....ROC lists many of these in its own publications.

there are lots of good reasons why smart directors should and would not sell on short term undisclosed information.

but for many investors, the "bad director sentiment" implications of an indisputably large and out-of-character director sell-a-thon floats like a t#rd in a swimming pool.

all you pool cleaners out there, particularly if qualified at floater removal, can you help me with this one???

good luck!

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1 - dates of disposal are as appears on notice as "date of change"
2 - numbers in brackets are the number of shares remaining after that disposal
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10-12-2007 JANSMA - 150,000 (444,641)
7-12-2007 JOLLIFFE - 40,373 (100,000)
7-12-2007 JANSMA - 250,000 (594,641)
6-12-2007 DOBINSON - 200,000 (902,337)
4-12-2007 LOVE - 131,364 (561,353)
3-12-2007 DORAN - 300,000 (4,850,001)
30-11-2007 DOBINSON - 100,000 (1,102,337)
23-11-2007 DORAN - 70,000 (sold to his own super fund)
31-10-2007 DOBINSON - 250,000 (1,202,337)
31-10-2007 CLEMMENT - 80,000 (shares sold after exercise of 80k exec options)