Rockpool Acquisitions Share Discussion Threads

[dunderheed] 04/5/2009 15:12

Monis sorry well busy at the mo - try this -

[monis] 04/5/2009 14:36

Could you expand on that Dunderheed?

[dunderheed] 04/5/2009 14:08

GG - yes but theer appears to be more than that for this movement.
Do not think it is lined to the 'non core' assets as they would not add that much value if divested!
Maybe they are closing to reaching a settlement out of court - which will 'certainly' take away some uncertainty!!

[goodgrief] 04/5/2009 11:58

Lots of bombed out oil stocks are bouncing off lows (as I was going to say bottoms).

[monis] 04/5/2009 11:54

poo bear - 4 May'09 - 07:42 - 891 of 899

nloughlin - No.

29 pence close in Oz @ 21% plus up and 19 million shares changed hands.

Takeover bid?

No say the comapany.



--------------

Hope you don't mind me copying your post poo bear however if you look at the wording could it suggest that they have not received an approach but that doesn't mean that they are not about to but have not heard yet and the leak is from the company side about to make the bid.

Your argument over the north sea assets could just be something on their agenda. imo dyor

[monis] 04/5/2009 11:40

poo bear- Interesting. The price movement would suggest that whatever is happening is good news for Roc oil. imo.

[poo bear] 04/5/2009 11:31

This is the bit to take a note of imo;

"......Consistent with previous public statements, ROC continues to evaluate all strategic alternatives concerning the Company's assets, ownership and capital position in the current operating environment.


ROC is in compliance with and will continue to comply with its continuous disclosure obligations."


I would not be surprised if an announcement shortly of the sale of the North Sea assets, the rumour is not necessarily concerning a takeover at all, probably non specific and may fit in with the policy of assets nearer home.

I am not able to say what the North Sea Assets are worth because I am not that clever, but I am sure that if true the cash would be useful towards reducing debt once again.

As far as Mauritania is concerned, those assets are as useful as a sieve with no holes, that could also be on the agenda to go.

[monis] 04/5/2009 11:01

The question is if a takeover approach should come what price would it be at or what would one be accepted at? Any thoughts anyone?

[monis] 04/5/2009 10:52

Up over 21% in Oz if it's not likely that we are about to receive a takeover approach we would not be up this much in Oz catching up or not. News has leaked imo.

[josephrobert] 04/5/2009 09:05

If today's statement cannot be read into - that we should look at the 'operative sentence - that 'ROC has not received any takeover proposal' - on face value and if we are no further forward - then why is the price and volume so strong?

[wrightey] 04/5/2009 08:15

Morning All,
Todays statement is clear, see below for operative sentence.

'ROC has not received any takeover proposal.'

From that you cannot rule out that one or more proposals are not known about, just that they have not been received. So we are no future forward. Market has been rising without any news and seems to be led from London, all OZ was doing today was catch up. Tomorrow should be interesting.

[josephrobert] 04/5/2009 07:54

By commenting on these market rumours it may be interpreted as ROC believing that these rumours as credible, hence increased price and volume...

or that a takeover is consistent with the stated strategy, i.e. that it would welcome takeover talks...*

or that it is in the process of a 'strategic option' of it's own...


*

[fungus footballhead] 04/5/2009 07:45

The announcement says no takeover bid - are you reading something
between the lines ?

[poo bear] 04/5/2009 07:42

nloughlin - No.

29 pence close in Oz @ 21% plus up and 19 million shares changed hands.

Takeover bid?

No say the comapany.

[nloughlin] 04/5/2009 03:56

looks like the share price will head down again.

[rabybay] 01/5/2009 15:39

Must be some good news on the way, next week could be good

[monis] 01/5/2009 13:59

Execution only. Online service

[wrightey] 01/5/2009 13:54

What sort of broker are you using Monis?

[monis] 01/5/2009 13:09

Wonder what caused the big spike overnight in Oz?

Did anybody else have difficulties in buying today, I couldn't buy any online.

[monis] 01/5/2009 12:05

They were able to make money at $40 a barrel now at $50 and has been for a while. imo dyor.

[monis] 01/5/2009 11:09

I've bought in today, held a few years ago. Looks like a rather exciting future imo.

[jugears] 01/5/2009 09:34

Nice to see a bit of upward movement, I paid 1.30 for these so am a little out of pocket!

[goodgrief] 01/5/2009 09:10

We should be so lucky... was beginning to think it'd take Sinopec to start sniffing around before this thing moves, given Roc have fields offshore China.

"Tap Oil today gained as much as 2.5 Australian cents. The stock has climbed 62% in the past six months, outperforming a 13% advance in the exchange's benchmark energy index."

[spursmatt99] 01/5/2009 08:43

20% of 12 trillion sounds good to me!

April 29 (Bloomberg) -- A BHP Billiton Ltd.-led exploration venture should start drilling by early next year in a permit off northwest Australia seeking gas that may supply a liquefied natural gas project, partner Tap Oil Ltd. said.

The A$40 million ($29 million) well will be drilled in an area adjacent to a license where Hess Corp. made three finds last year, Peter Stickland, chief executive officer of Perth- based Tap, said today. Exxon Mobil Corp., Chevron Corp. and Woodside Petroleum Ltd. also have undeveloped gas discoveries in the region, he said.

Tap has slashed its exploration budget for 2009 by about 65 percent to some A$20 million as it seeks to cut costs after a slump in crude-oil prices. The WA-351-P license, in the exploration "hotspot" of the North West Shelf region, is one of the company's two focus areas, alongside Brunei, Tap said earlier this month in a presentation.

"I'm very confident we'll put our foot on a resource in this particular block," Stickland said in an interview in Perth. "There's a lot of excitement in the corridors about the data we're seeing" from a seismic survey completed in the permit last year, he said.

Tap Oil today gained as much as 2.5 Australian cents, or 3 percent, to 86 cents and was at 84 cents at 1:20 p.m. in Sydney. The stock has climbed 62 percent in the past six months, outperforming a 13 percent advance in the exchange's benchmark energy index.

Woodside, Chevron

The permit may hold between 2 trillion and 12 trillion cubic feet of gas, Tap estimates. BHP, Australia's biggest oil and gas producer, owns 55 percent of the venture and is the operator, while Tap has 25 percent and Sydney-based Roc Oil Co. the rest.

[wrightey] 01/5/2009 07:38

Now closed at $A0.495 up 6c on the day.