Entropy
Snap back happening now - ROC will bounce around the low threes.
I agree with your comments regarding black holes. I think ROC though is not in this category. They were $47m posative. The loss was accounting for 68m in acculmulated exploration costs. Now they have cleared this turd off the books I think 2007 will show a higher posative cash flow and profit. Both Enoch and Blain contributing (and not costing), full year of production in WA, and increased production in Zhoa Dang will put accelarte earnings.
I must say though I get quite sh*tty with capital raising and as much as I like ROC will seriously re-assess if they dont go to debt rather than dilute. If during this year they cant afford debt then there has to be a problem.
Not withstanding, Cabinda is going sling shot ROC to the next level.
cheers
why such a big drop, page-38
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