Boffin,
To a very large extent I agree with your sentiments on ROC, and I excited around $3 last August (which on trend possibly gets it to $1 around Xmass). I do however believe that such a bold statement as you made (either with or without supporting arguments) was bound to extract the ire of many a loyal and patient holder.
For my part I would remind those hoping for a prompt turnaround to ensure they have considered the following:
* The painstakingly slow process of delivering on even a fraction of the hype wrt Beibu 2 years ago (and longer).
* The windfall tax regime on oil production in China.
* The PSC terms in Angola, which will mute the return from any success there.
* High ongoing exploration and overhead costs.
* A decade long track record which would have been better served by investment in oil futures, or indeed a tank of oil (with storage costs no doubt lowere than the drag from ROC's admin/overhead costs).
After a certain time I'd say (in the absence of substantial change of management) that it is fair to judge a company by it's composite track record. From $2 to $2 in a decade, for very good reason imho, despite oil soaring. I'd sooner bet on $1 than $5.
Oilers are a tough bunch to pick, with foresight, aren't they. ROC has been around long enough to also provide the hindsight evaluation tool. A luxury I suggest you use.
EL
- Forums
- ASX - By Stock
- ROC
- yoyo winner of 2008
yoyo winner of 2008, page-15
-
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ROC (ASX) to my watchlist
|
|||||
Last
8.5¢ |
Change
-0.025(22.7%) |
Mkt cap ! $6.901M |
Open | High | Low | Value | Volume |
8.5¢ | 8.6¢ | 8.5¢ | $13.53K | 158.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 8.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.3¢ | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 0.086 |
1 | 1996 | 0.085 |
1 | 50000 | 0.067 |
2 | 115000 | 0.060 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.093 | 10000 | 1 |
0.105 | 10000 | 1 |
0.110 | 115936 | 3 |
0.120 | 4872 | 1 |
0.130 | 203571 | 2 |
Last trade - 15.34pm 23/07/2024 (20 minute delay) ? |
Featured News
ROC (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & MD
Charles Armstrong
CEO & MD
Previous Video
Next Video
SPONSORED BY The Market Online