what went wrong?, page-9

doesnt sound too good does it?

I think the market has shunned anything with large debts, even tough rocs cash flows are suffifient to cover.

Perhaps it is the capex to get the BMG into full production.

But from the oil side, the anzon buy has increased prod by 3500 bopd, and would think a good growth story.

ROC aren't developing the higher cost side until oil prices will support it.

So ROC is well and truely tied to the Price of oil, for its full devleopement potential.

I think, ROC will continue to rise and fall with the oil price swings, if you're long, you just need to remember that oil ultimately will rise, adn have its day in the sun again.

But until then, it will attract shorters, and traders.

To the thread. What went wrong. They had poor exploration sucess and incurred largish debts doing so.

Perhaps it was a false sense of security, having the existing production assets, in an environement of high oil price.

ROC is fundementally OK, and has good support at 40c.

WHat is the Price of OIL in 6m? 12m?

That is where the speculative interest will take the ROC.

Will opec cut? will demand remain sluggish?

OPEC always talk about cutting, but have also said they will hold off cuts, the story always changes.

US summer coming, that should help demand a bit.

Just ride the tide.

cheers