Rockpool Acquisitions Share Discussion Threads

[poo bear] 15/10/2008 10:37

Well we are holding up today, depends what happens tonight in Oz as the what happens next.

Mauritanian news must be due about now.

[arja] 15/10/2008 07:19

hi poo bear ,
not so sure I made right decision but harder to trade it when I am in Ukdue to time difference ( I need to sleep! ). Expect to be here for a while yet before returning to W.A ! good luck with ROC today on Uk market but I can not stomach the MMs and the wide spread here as never know if it will widen when trying to sell!! Really all stocks should be SETS and no MMs in OZ or my profit would have been almost zero on an 8 cent move !

[poo bear] 15/10/2008 06:50

Hi arja - I don't blame you, any retrace and you are in again.

So up over 15%, lets see what happens here.


There is always a depression in companies sgare prices that are merging with another like ROC has done, this happens as you know while holders readjust their positions, it's a bit early to think thats over but we can hope.

[arja] 15/10/2008 06:25

closed at 72.5 in oz ( about 29p) and a strong performance in view of weak oil price . Could not resist taking my profit at 73 half an hour before closing but very tempted to keep it overnight ! chart suggests it has finally turned with minuimum target of about 87 . an up move in oil might help even if immune to it today . MD still looks good .

[arja] 15/10/2008 00:35

in at 65 just after opening but oz market down with dow futures!! oil price not recovering yet unfortunately !

[arja] 14/10/2008 23:49

yes poo bear, surprising selloff to 78.64 at the moment . as it stands at this second, ROC will open higher at 68 cents so it may ignore the lower oil price ! MD in OZ shows bigger volume on buy side which sometimes is significant !

[poo bear] 14/10/2008 22:19

Except it is now below $80.

Best wait a day arja.

[arja] 14/10/2008 14:28

fair enough. maybe I like them because I generally think short term except when I kept ROC too long and lost quite a lot! i see oil price back to 82.70 after hiting almost 85 but seems to be trending up.

[triples] 14/10/2008 13:23

Gearing....eeeeek! No - using the hard earned for me - I wouldn't trust myself with a CFD - I have poor self-control and would blow my account in days. Thanks anyhow, triples

[arja] 14/10/2008 13:15

can trade OZ stocks like ROC with them . Problem is financing charges if keeping shares for a while .

[arja] 14/10/2008 13:14

triples,
I like your sense of humour and you should be fine. those greedy MMs now have a 4p spread and should be made obsolete . They serve no useful purpose except top feather their nests and create illiquidity. LSE are the pits for keeping the "jobs for the boys policy " . Ever thought about a CFD account as youi

[poo bear] 14/10/2008 11:36

triples don't worry - your reasons for interest and buying are sound IMO.

20kbopd by 2010 is a very big draw to me and to anyone who wants to buy production and decent P2 reserves.

[triples] 14/10/2008 11:03

Hi arja... now you tell me! :) I don't have an aus broker a/c, so AIM overpayments are my speciality. :(

[arja] 14/10/2008 10:57

but remember that , at 30p, you are paying close to 75 cents and it closed in oz at 62.5 ! Of course likely to go higher tonight but probaby you could still get them at 30p or a bit less tomorrow UNLESS it does really well in OZ tonight . I will be trying to buy in opening auction if I can get some at about 65 or 66 cents !

[triples] 14/10/2008 10:21

I'm in for 10k shares at 30p.... it has fallen too far and should recover with all that bopd in 2009.

[arja] 14/10/2008 10:17

now above the oz close of 25.5p equivalent. Mms are expecting a strong showing in oz tonight it seems .

[arja] 14/10/2008 07:37

yes, ROC did turn up in oz to close at 63 after hitting 69 and may have turned based on previous day's high volume . If I can stay up until midnight I will re-enter at opening if I can ! oil price picking up more today I see. all the best to you

[poo bear] 13/10/2008 21:54

Hi arja yes oil has firmed today, currently $81.

DOW up over 900 points I hope to see a blinding rally overnight in Oz for ROC.

Good luck.

[arja] 13/10/2008 17:51

hi poo bear ,
just got back from Ukraine. I see the price is only just below my sell price but wide 3p spread . I think oil price firmed a bit since I left or am I mistaken ?
As I said , I will buy on OZ market if I re-enter as I just hate the UK MMs !!

[poo bear] 13/10/2008 00:06

Probably right.

Show me one that wont be.

[pillion] 12/10/2008 21:41

ROC will get much worse before it gets better

dyor,
imho

Weekly chart

free stock charts from www.advfn.com

[dr square] 12/10/2008 21:33

Thanks Poo Bear

Have to say that is one worry I do have. If it is an all paper exercise if it does go.

regards

[poo bear] 12/10/2008 11:34

This also is a couple of weeks old.

Roc Oil wary of predators as shares decline
By ToShelley

"Roc Oil has declared itself a takeover target after its share price fell last week to levels unseen since it listed in London in 2004.

The fall in Roc's shares comes as it is making the transition from exploration company with some production to cash-generating production company with some exploration assets.

Roc has acquired a majority of Anzon Energy (LSE: AEL.L - news) and is attempting to acquire the balance of its only asset, Anzon Australia.

The Anzon move will increase its output from 10,000 barrels of oil equivalent a day to 14,000 boe/d, and if it wins Anzon Australia that figure will increase further, making it one of the biggest producers on Aim.

With the market currently putting little to no value on exploration assets and the oil price remaining high, the company's transition would have been expected to prompt an upward rerating of Roc shares, according to analysts.

Yet the drop in the share price to 44p late last week took the company's market capitalisation to about A$300m (£134m), a third of its value a year ago.

Roc suffered the death of founder and chief executive John Doran in June. According to Kevin Hird, general manager: "I would be surprised if we were not on people's list" of takeover targets.

Earlier this month, company broker Oriel Securities calculated the net asset value at 137p a share with core value of 87p. Oriel said: "If the market fails to recognise the company's fundamental value then a predator might".

Analyst Tim Heeley at investment bank Daniel Stewart said that using multiples typical of other oil companies, Roc's enterprise value could be calculated at as much as $1.7bn.

That valuation implies a market capitalisation of £850m, even ahead of the benefits of the Anzon move. He added that the company's share price performance certainly made it a takeover target.

The Anzon acquisition takes Roc into the Australian gas market and rationalises the shape of the company, concentrating its output in Australia and China, with potentially disposable rumps in the UK and Mauritania.

The squeeze on credit limits the range of potential predators but analysts see one obvious category - larger Australian companies with a regional focus.

Roc's shareholder base remains rooted in Australia and might be susceptible to an offer of paper rather than of cash."

[poo bear] 11/10/2008 07:11

Thanks arja - sorry you could not stay with this just now, I'll be looking at further falls next week on the back of the overall market situation, that means I will look to buy more somewhere lower.