Rockpool Acquisitions Investors - ROC

Rockpool Acquisitions Investors - ROC

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Stock Name Stock Symbol Market Stock Type
Rockpool Acquisitions Plc ROC London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 9.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
9.00 9.00
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schober: a bit of good news; share price = 54c hxxp:// ................ 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)...........................
dougdig: 10 May 2013 ASX RELEASE CHAIRMAN'S ADDRESS TO SHAREHOLDERS AND AGM PRESENTATION 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: Alan Linn Executive Director & Chief Executive Officer For further information please contact: David Slack-Smith General Manager Investor Relations & Corporate Affairs Tel: +61-2-8023-2096 Email: 1 | P a g e CHAIRMAN'S ADDRESS 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 gains. 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 performance. 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{"StartDate":null,"EndDate":null,"LowerIndicator":[{"Args":[{"Type":0,"Value":14}],"Code":21,"UID":507938724}],"UpperIndicator":[],"Overlay":[],"ChartStyle":3,"ChartScale":1,"CursorStyle":1,"Interval":6,"Duration":6,"Comparison":[],"PortfolioName":null,"Width":950,"Height":400,"ActiveTool":null}
stateside: The chronic investor reports that ROC is considering divesting its African assets. Increasing production & exploration towards Asia more & more. Also considers UK & N Zealand as non-core. Good or bad ?? I dunno.
steve73: I'm not sure there's anyone in any of the bars from the early 90's still around by now. Of course their daughters' mabey (sic!) sorry couldn't resist that one.. PS investors europe look promising - waiting for a quote now.
monis: Interview with Charlie Aitken Print Email Australian Broadcasting Corporation Broadcast: 04/05/2009 Reporter: Ali Moore Lateline Business speaks with Charlie Aitken from Southern Cross Equities over investor reaction to Macquarie's capital raising. Transcript ALI MOORE: For more on investor reaction to Macquarie's capital raising and the rest of the day on the markets, I spoke earlier to Charlie Aitken at Southern Cross Equities. Charlie Aitken, it was a very impressive start to the week. Why such optimism? CHARLIE AITKEN: Well, the market started very strongly. I don't know if it's actually optimism, Ali, - I think it's a lack of pessimism. You can see the major fear gauges around the world, like the VIX index, US Treasury bonds and gold are all falling. I think, look, it's a combination of factors, it's just that investors have got a slightly, are a bit more risk tolerant lately. ALI MOORE: Even Macquarie shares ended up, and that was despite their capital raising at a big discount? CHARLIE AITKEN: Yeah, Macquarie shareholders who took up the placement at $27 got a nice bonus today, with the stock 23 per cent above the placement price. I think that comes down to, Ali, that Macquarie only gave new equity to people who already held their shares. That means people who were short had to cover their short positions. That combined with a better tone from overseas saw Macquarie up on the day, which I think surprised quite a few people. ALI MOORE: Well, you talked about a lack of pessimism, but in terms of the big news of the day, it was really the announcement of the delay with the introduction of the emissions trading scheme. Stocks were well up before that delay, but can you give us an idea of how shares reacted? CHARLIE AITKEN: Well, it was a tremendous day if you're a big polluter. I mean, anything that's a relatively large polluter had a good day, anything from coal stocks through to BHP and Rio Qantas, BlueScope Steel, Orica, INSETEC, the two chemical manufacturer, building material stocks, anything that was going to be a net loser from carbon emission trading had a very good day as it gets pushed back again. But that's relatively understandable. You'll find in tougher economic times that environmental issues get put back a little bit. ALI MOORE: But all those rises, as you say, they were extensive, would you really put all that movement down to just delay? Or were there other factors at play? CHARLIE AITKEN: Look, I'd say it was 50 per cent of the moves were the carbon trading emission scheme pushback and the other 50 per cent was just a generally better tone to cyclical stocks. All those stocks are quite cyclical as well, and cyclical stocks led the market today. ALI MOORE: Well, the energy sector was up 5 per cent across the board and Roc Oil up 21 per cent? CHARLIE AITKEN: Roc Oil's coming off a low base, but there is a takeover rumour there, which is quite believable, actually. I mean, actually looks a very cheap stock. But the energy sector is trying to do better. The oil looks like it clearly bottomed. Oil looks like it wants to go back to $60, $65 a barrel, and energy stocks led by Woodside today, really, did very nicely. ALI MOORE: Well, the other bit of news that we got was from the Future Fund and the fact over the last nine months, they loss, or it was a paper loss, so I guess they shrank some $6-billion. How did that performance compare to many other sovereign wealth funds? CHARLIE AITKEN: Well, relative to other sovereign funds, it's a fantastic effort. I mean, a good percentage of that fall is actually their Telstra shareholding. But relative to the Middle Eastern sovereign funds, the Chinese sovereign funds, some of the Asian sovereign funds, who really lost a lot of money trying to early recapitalise stocks like Merrill Lynch and Citigroup, which went on to be all but zero, that's a pretty good outcome from the Future Fund considering the conditions. ALI MOORE: So what are the key things that we should watch out for the week? CHARLIE AITKEN: Well, there's bank stress results in America on Thursday. But other than that it's just end of the US reporting season. I think the market wants to go higher, Ali. It seems everyone's waiting for a pullback - there's a lot of cash on the sidelines. I said on this show eight weeks ago the market had bottomed. The market has bottomed, and we're going to see a little bit more cash come in from the sidelines. I expect the markets to go higher over the week. ALI MOORE: And of course there's an interest rate decision this week as well, tomorrow. Are you expecting anything? CHARLIE AITKEN: No, I think the Reserve Bank will stay on hold. They're still monitoring the situation. But the key thing was last week where the US Federal Reserve said cash rates were going to remain low for an extended period. And I think that's why we're seeing such a rally in risk and high yield stocks are seeing a little bit of support, as well. ALI MOORE: Charlie Aitken, thanks for joining us. CHARLIE AITKEN: Thank you, Ali.
robwoodt: very much so, i put a lot of info together on a blog for new investors, the link is on the Afren BB, i won't plug it here this is the ROC thread.. What's your take here Dunderheed?
poo bear: Investor Presentation
arja: but not so much money to a wealthy investor who has a diversified portfolio i guess. Down 6 cents in OZ in spite of a bounce in oil price .
arja: poo bear , it is beyond me why investors do not just boycott MM stocks or even organise a petition to get them abolished ! maybe most UK born investors or traders have been brainwashed from an early age into thinking that they provide a service ( a service to themselves - YES ! ) . the spread on ROC at the moment is 5 p ( .5 cent in oz ) and MMs operate like a cartel and create illiquidity ! oil price picking up a bit . have a nice weekend .
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