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Roc Oil Share Discussion Threads
Showing 2526 to 2548 of 2550 messages
|well that's the end of roc..... swallowed up by a china co' I held on and didn't accept the offer in the hope I may get a riding share of some sort in the hungry growing 'fosun'
got letter today stating a forced buy at 69c, may take a couple of months?
|Santander will accept the cheque under a certain $£ value and with only a £10 fee (although you may have to have a Santander account ??)|
|OK - package rec'd today - Fosun...offering A$0.69, approx 50% premium to recent range - now what to do with an Assie $ cheque? Anyone know if I can cash it to a UK bank?|
|Seg - who was the buyer, and what is the closing date? I live in SE Asia, and usually get my mail about 3-4 weeks late...so would be unlikely to be able to take up such offer... even if I wanted to.
|I live in UK and today I recd a fat package with an offer to buy my 1596 shares which wd give me about £130 before bank charges.
Any advice very welcome. Thanks.|
|I think there may well be a counter bid from someone else, I don't think we are fosun's just yet|
|if anyone's still around here...
|ROC OIL bid-
AGM - 27 May.|
|"Mid cap oil producer Roc Oil (ROC) has several options for growth ahead but honing of the development and exploration focus may be necessary. Brokers also have suggestions for what the company can do with its robust cash flow."
(May need to copy and paste link)|
|a bit of good news; share price = 54c
................ final stage of the Beibu Gulf Block 22/12 development drilling has been completed with the successful conclusion of the five well drilling programme on the WZ 12-8 West field .....................
Commenting on delivery of this strategic milestone, ROC's CEO Mr Alan Linn said:
"The demobilisation of the COSL HYSY 931 drilling rig completes the fifteen well Beibu Gulf
development programme, designed to maximise production from both the original field
development plan and development of the additional reserves discovered during the successful
2012 Beibu near field exploration campaign.
All fifteen wells are expected to be online during 3Q13 delivering daily project production rate of
approximately 15,000 barrels of oil per day (2,940 BOPD net to ROC)...........................|
|10 May 2013
CHAIRMAN'S ADDRESS TO SHAREHOLDERS AND AGM
Attached is the Chairman's address to shareholders and AGM presentation being presented today in Sydney
at ROC's AGM. A copy of the presentation is also available on ROC's website:
& Chief Executive Officer
For further information please contact:
Investor Relations & Corporate Affairs
Email: [email protected]u
1 | P a g e
The Annual General Meeting provides an opportunity to not only review the past
year it allows your directors and senior management to talk about the year ahead
and the future direction and strategy of your company.
In my report to shareholders contained in the Annual Report I deal with some of the
key issues over the last year and some important strategic steps going forward.
It is worth for the moment recapping on the financial performance of the last year.
The underlying business profitability and liquidity improved appreciably in the year
ended 21 December 2012.
Additionally, and equally importantly, we operated safely and had no material
environmental incidents at our operations.
In summary, we have made good progress in the year building on the strategy put in
place 3 years ago to restructure and refocus the Company.
The new year has also started well on a number of fronts.
We released our quarterly activity report to the market on 29 April.
Year to date, our production is on track with our guidance.
Importantly, we have had a number of milestones with the delivery of first oil at
Beibu in March, on time and on budget. The project is ramping production up in line
with the project schedule with more wells being brought on line over may/June.
We have had some success in Malaysia with the initial results from the appraisal
wells in the Balai cluster project.
In the year ahead we see production from Beibu reaching plateau levels in late 2013;
further operational enhancements; and additional drilling at Zhao Dong also
contributing to production rates.
Blane, our non-operated North Sea project, is performing ahead of forecast, which is
pleasing after a period where production was shut in.
From a strategic perspective, developing our Malaysian opportunity with our
partners is a key imperative.
For this project, 2013 will be crucial as a number of key milestones will have to be
achieved which include:
2 | P a g e
Completion of pre-development phase;
Agreement with partners as to economic viability; and
Submission by the joint operating company, BC Petroleum (ROC 48%), of the
field development plan.
Additional complementary China projects are under review as is advancing the
rebuilding of our exploration function, which is progressing.
The CEO's report will demonstrate the depth and level of activity currently being
undertaken by the Company.
The share price last year came off a low in December 2011. It performed well in the
year and in the first few months of this year but has since given up some of those
I think there is now a better recognition of what we are doing and how we are
executing. While one cannot predict which way the markets will go, as they are very
fickle at present, the Board and executives' focus is very much on the profitable
execution of the business strategy, recognition from the market and value
enhancement will follow. We have to a degree seen this in the last 12 months.
We are focused on ensuring this continues.
I want to take a moment to talk about last year's first strike against the remuneration
report and the steps taken by the Board to address this issue.
At the Company's 2012 AGM, the Company received votes against its Remuneration
Report greater than 25% of the votes cast. At the time of this 'first strike', the
Company's corporate and remuneration strategies were already in place for 2012.
The Company and Board have engaged at length with various stakeholders since
then. During 2012, the Remuneration Committee, on behalf of the Board, engaged
remuneration consultant Aon Hewitt to undertake a comprehensive compensation
review across the organisation globally. In the review it was recognised that
demonstrating the link between pay and performance was critical to stakeholders
and a key component and outcome of the review was the linking more closely with
As a result of engagement with proxy advisers and stakeholders, the resolution to be
put to the meeting pertaining to remuneration has received overwhelming support
and this will be disclosed later in the meeting.
A consequence of the review is that key changes have been made to the CEO Alan
Linn's performance linked pay with effect from 1 January 2013 and will be made to
all senior management performance linked pay from 1 January 2014.
3 | P a g e
These changes see short terms bonuses historically paid in cash being paid partly in
cash and partly in deferred equity.
Changes are also to be made to the performance conditions attaching to equity
rights granted under ROC's long term incentive plan.
In line with market trends and stakeholder feedback, the "continuous employment"
and "absolute shareholder return" conditions are to be removed altogether as they
are considered not sufficiently demanding.
Consideration has been given to the inclusion of a pure accounting performance
measure such as earnings per share but this condition was regarded as no longer
consistent with market practices across peer groups and was also seen as unreliable
in variable economic conditions. Following a detailed assessment of current market
practices and peer group long term incentive plans, the Company will proceed with
two performance conditions attaching to rights to equity granted under the long
term incentive plan based on relative total shareholder return or TSR measured over
three years against two different peers groups; an indexed group and a selected and
disclosed comparator group. Going forward we believe that these two conditions
will be both motivating and challenging and will require outperformance by senior
management against very clear external benchmarks.
At this meeting the Board is asking you to approve the equity components of the
short and long term incentive awards to Mr Linn for 2012 performance which are all
based on these proposed changes.
In conclusion we have had a good year but the job ahead is to build on this and
ensure that this translates into improved share price and underlying fundamentals of
your business. This will ensure long term shareholder value is achieved.
I want to thank the Board, Alan Linn and his management team and staff for their
efforts during the year.
To shareholders, on behalf of the Board we also thank you for your continued
support and look forward to a positive and profitable 2013 and beyond.
Andrew J Love
10 May 2013
|2013 looking good|
|all going very well here, near on ~100% up since undervalued report :-)|
malaysia opposition leader Anwar Ibrahim (peoples justice party) seeks petronas policy shift: south east asia, Anwar is set to challenge Najib (prime minister) early 2013.
Roc have agreed to help exploit the marginal fields..... yep Malaysia here we come !!!!!!!!!!!!!!! (i hope)|
|ROC:asx are still going up :-) whish we could get australian shares on this bb
i had DGO at the top of my wish list a wee while back, im still kicking myself|
|sorry ive messed up it was meant to be roc australia :-(|
|im still to convert my paper shares into international trader account too|
|It's still got a long way to go before I b/e though... and then I need to find a broker who deals in paper shares (not easy when living overseas..)|