Rockpool Acquisitions Share Discussion Threads

[nickcduk] 16/6/2008 16:09

Market doesn't seem to like AEL for some reason. Any company that has made a bid for AEL has seen its share price trashed. ARC and then Nexus and now ROC. Wouldn't be surprised if a counter bidder comes along for AEL as the rise in oil is hardly reflected in the offer price.

[bomfin] 16/6/2008 15:13

Problem is there is no obvious strategy here other than perhaps they will replace Basker production system and use current basker system in China?

[tingtang] 16/6/2008 15:10

well I paid 160 odd pence for these two or three years ago. i didn't reckon on anything much for Mauritania after my involvement with Hardman but it did seem back then that angola would be a profitable venture. Need to do some more research now on the likely future for this proposed enlarged outfit.

Since ael now costing 112 against 94p for roc I don't see ael as being a cheap way in and, if the deal is called off then ael will regress and roc recover somewhat although they seldom fully recover the lost ground immediately in those situations.

Yep I look at my portfolio this am wondering what I need to do to get things right as the market seems to take the opposit view of just about every stock I hold in size. My larger holdings are these, plus sqz, aex, eo. , dnx, gkp, fpl, gbp and (the far biggest in size) sia. Not much joy from the market for many of those of late despite drill success with some, and todays inconclusive news from soco hasn't helped. As soon as I read that release I knew the share price would tank. Maybe I should be more proactive and trade some in those situations and buy back later but past results have shown a lot of poor timing, or luck, on trading, I sold afren at 100p and Tullow at 600p and never got back, so i prefer to leave it alone. Probably the only thing I did right in the last 12 months was to buy gasol under 7p and sell at 12.5p. Hey-ho, it's a long weary road but I can take comfort from no holdings in finance/property or non oil small caps, the road looks much longer for them, and occaisionally a punt like gasol comes good.

tt.

[soulsauce] 16/6/2008 11:46

I owned a small number of these in my ISA and got out at a small profit at 107p, then kicked myself when they went 120p+.

Still on the sidelines but I think this merger is a good move, of which I think we will see much more of in the coming weeks, months, years. I think it is the way forward for some of the overlooked & undervalued companies.

I have three more in my portfolio, SQZ, AEY & AEX all suffering in the same situation with good assets and not strapped for cash. In fact I think AEY\SQZ would be a very nice match giving them some very nice North Sea assets.

[royaloak] 16/6/2008 11:40

Used to have these, always disappointed, may be worth it at current price? Cheapest way if I want to get back in, I assume, is to buy the AEL shares.

[drago] 16/6/2008 11:31

ting
well under water , don't mind taking a loss here if it means accumulating more of those very cheap sqz shares.
it's not a difficult descision.

[tingtang] 16/6/2008 09:04

Maybe the wallabies don't like the premium offered or the possible dilutive effect.

Interesting to note that ael shares have risen by similar amount to our fall.

I see a few familiar posters here and would guess most, like myself, are well underwater. the story isn't quite working out with ROC but I will be sticking with them for a while longer yet, they are well under valued at todays share price of 87p that's for sure.

tt.

[dr square] 16/6/2008 08:39

Morning ROC



Back to 80p then :-(((

Intrested to see what the strat is for this move??? I can`t work it out

Regards

May have a play if it drops of any more

[soulsauce] 16/6/2008 08:11

Merger with AEL. Looks ok to me but the market obviously doesn't think so?

[drago] 09/6/2008 11:43

from memory, we have had 1 oil find out of 3 wells drilled.
that's quite good, beats the industry average.
the 1 oil find was a decent size albeit heavy oil.

nothing can be read into the recent optomistic rns as the share price rose ahead of the p&a rns last time. that was a right scunner.

they have quite a few targets of 100m deep, these should be cheap to drill and angola could be good yet.imho.

[drago] 06/6/2008 10:03

RNS Number : 1235W
Roc Oil Company Limited
06 June 2008





6 June 2008


ROC OIL COMPANY LIMITED ("ROC")
STOCK EXCHANGE RELEASE

ACTIVITY UPDATE: DRILLING


Cabinda South Block, Onshore Angola (ROC: 60% & Operator)

Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC and operator of the Cabinda
South Block, advises that:

* The Coco-1 exploration well has reached a Total Depth of 2,629 mBRT and produced 26o
API oil and associated gas to surface during
open hole drill stem testing of two separate intervals in the sub-salt sequence. Both tests
were impacted by down hole constraints; one
relating to sand influx during testing and the other to mud losses to fractures while
drilling. The well will be suspended as an oil
discovery with the intention that it be re-entered and tested more comprehensively as soon as
practical, within the next six months. Until
the well has undergone further testing it is not possible to comment on its commercial
potential.
Coco-1 will be followed by two more exploration wells both of which will test sub-salt
prospects: Sesamo-1, which is expected to start
drilling later this month and Arroz-1, which is expected to commence in August 2008.

[thegreatgeraldo] 06/6/2008 08:49

Looking at the share price over the past few weeks, today's announcement clearly wasn't news to some.... although it can be taken either way

[dr square] 06/6/2008 07:48

bomfin

Think you are spot on, Wonder if they got permision from the gov for that release?

regards

[bomfin] 06/6/2008 07:11

Very cagey with their Angola releases. Too much singing and dancing could see things kick off on the ground?

[dunderheed] 06/6/2008 07:05

Something positive at last!!

[poo bear] 28/5/2008 13:47

That's it!

You are off my Christmas card list and thats final, no appeal

Apologies people I did not read the percentages correctly, back to being nice and quiet.

[fredling] 27/5/2008 17:09

So we own 0.25% (one quarter of one percent) of the prospect and our share price falls by 6p because its dry!


I think I'll sell immediately!



Fredling

[poo bear] 27/5/2008 12:42

Freshwater Point 1 = No hydrocarbon shows at primary or secondary sandstones.



Nothing from ROC but may explain why the drop today.

Still not a precise science this drilling for oil is it?

[arja] 20/5/2008 07:50

started well and hit 265 but then succumbed to a bad overall market and finished a bit lower .

[arja] 19/5/2008 07:39

yes, for market makers with their high spreads ! Should be made obsolete !! anyway , ROC up in OZ to close at 259 after being higher . Chart say sit is likely to get to about 275 at least !

[pro_better] 17/5/2008 13:09

great prospects...

[drago] 16/5/2008 12:59

hope this penny a day thing continues.

[wrightey] 12/5/2008 09:48

Freshwater Point 1 was spudded over the weekend, Roc only has 0.5% of lease and it is expected that well will take 10 days.