Could be Wie results leaking. About due for release. Might also be news on drill program for the cabinda block.
In any event way oversold. ROC trades on low multiples when looking at future production. As those projects materialise and risk discount dispears price should rise accordingly. So far production in WA has exceed expectations, Blain and Enoch will come on line in short order. Wei will be fast tracked for rapid development- probably 2008.
I suspect some broker(s) have some inappropriate pricing models that are overly sensetive to movements in the price of Oil. Every time POO drops ROC gets disproportionately slammed. The kiddies will learn some day.
cheers to holders
Could be Wie results leaking. About due for release. Might also...
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