Share Name Share Symbol Market Type Share ISIN Share Description
Rockrose Energy Plc LSE:RRE London Ordinary Share GB00BYNFCH09 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 815.00p 0 01:00:00
Bid Price Offer Price High Price Low Price Open Price
810.00p 820.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 120.03 5.79 204.67 4.0 102.6

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Date Time Title Posts
17/5/201919:04RockRose Energy PLC1,756
21/8/200609:54Russia Real Estate Development Ltd1

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Rockrose Energy Daily Update: Rockrose Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker RRE. The last closing price for Rockrose Energy was 815p.
Rockrose Energy Plc has a 4 week average price of 0p and a 12 week average price of 770p.
The 1 year high share price is 825p while the 1 year low share price is currently 342p.
There are currently 12,593,784 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Rockrose Energy Plc is £102,639,339.60.
thedudie: Well probably not if Andy doesn't want to be as his stake goes a long way to blocking a bid. I think Andy will want to try to do it all again and again. buy assets extend life of fields and sweat a big cash return from each one. The share price will probably be behind the curve on each deal, sadly! Would like to see him offer a few more institutions an exit at 12.50 a share ..... reducing shares in issue is a big multiplier when cash on the balance sheet isn't being factored into the share price. Maybe things will be different when it relists.
mr. t: An additional benefit of Tain - its oil would flow through Bleo Holm, and some of Bleo Holm's $80m pa cost would be apportioned away from Blake and onto Tain. This would mean Blake's opex would reduce, and its profitability will increase. I make this worth about £2 on RRE's share price - giving a total NPV of Tain to RockRose of £13 per share.Giving there are risks, i3e management have proven to be way too optimistic, Tain is not Liberator, and oil companies are valued considerably less than NPV - I doubt Tain going ahead will make much difference to RRE's share price in practice.
bountyhunter: Shell is at £25 so the level of the RRE share price is by no means unusual. I don't see a share split as a priority right now with everything else going on. Maybe at some point in the future though.
tim000: Not sure who you are referring to fb. Fwiw, I don't disagree with what you've written, and it's not inconsistent with what I've written. (I was just giving an example of how debt finance doesn't change the economics.) As you know, the cash in the Marathon bank accounts is part of the entity being acquired. Actually, I don't think we know for sure how RRE is going to pay for the $140 mn; RRE may use Marathon's cash being acquired or it may keep the cash and borrow within its banking facilities, or a combination of both. It matters not. The point is that if the transacted valuation of the assets is correct, that cash obviously is needed to cover future liabilities. There is no economic difference between using Marathon's cash now and borrowing later to fund decommissioning, or borrowing now. That doesn't affect the transaction's impact on the RRE share price.
tim000: Assuming Marathon's assets are worth $140 mn, and RRE pays $140 mn, then there is no effect on the RRE share price. That's because RRE has to take $140 mn out of its balance sheet (cash and debt) to fund the acquisition. If it funds the purchase entirely with debt, the Enterprise Value (EV) of the company will rise by $140 mn, but there might be no change in the mkt cap. The behaviour of the RRE share price upon coming out of suspension will entirely reflect the market's perception of whether the deal is accretive to RRE or destructive. Given the small mkt cap of RRE in relation to the assets being acquired, there could be tremendous leverage to the share price. RRE shareholders believe that Marathon was unloading its remaining NS assets in a fire sale and they were sold at a knock-down price. I personally think (as a RRE shareholder) that, given AA's skill in managing mature assets, and the likelihood that the sale price was depressed by a lack of prospective cash buyers, RRE's share price will rocket - but not necessarily on relisting. But we must await the market's view.
5chipper: Rockrose Energy (LON: RRE; 750p) is also acquiring assets in the North Sea which are non-core to their owners, but highly material to £90m market cap Rockrose. The company is newer than Serica having joined the main market in a placing at 50p in January 2016. Despite the company already having created a lot of value through smart acquisitions, it still looks very cheap. This value gap encouraged management to buy back 20% of the equity at 560p last October. The company has also just announced a significant extension to the life of its reserves and has some further exploration upside potential. At the end of the 2018 Rockrose had cash of $121m and it is easy to get to estimates of NAV which are twice the current share price. With the strong cash position there is plenty of scope for management to create more deal-driven value. The only catch in all this is the decommissioning costs which Serica and Rockrose will be liable for. Unlike DGOC’s small onshore wells, the sums and complexity in the North Sea will be much greater and harder to predict. There is good news in that reserve life extensions push these bills further out into the future and mean more cash will be generated to fund them. As engineering experience builds in dealing with these projects the costs should come down and importantly the government will be as supportive as possible in the process. That is because decommissioning costs are tax-deductible; so lower costs means more tax is paid, as well as higher profits for shareholders. Rockrose currently has $53m of its cash ‘blocked’; in Decommissioning Security Agreements (DSAs). The DSA is a present value provision which is adjusted annually to create a fund from which the costs will ultimately be met. As mentioned, there are several reasons why these estimates should be conservative. n
tim000: I haven't posted here before, I'm not a geologist so have no O&G expertise, but I am a shareholder and have invested in the O&G sector for more than a decade. In my opinion, field life extension is incredibly accretive to shareholders: not only has the period of FCF been substantially extended, but decommissioning costs have been deferred for five years. In NPV terms, that is surely an enormous benefit to shareholder value. I don't expect the share price to reflect this immediately, but it confirms just how cheap RRE is.
cf456: If boredom sets in then well worth re-watching the Andrew Austin interview to get an idea of the potential. hTTps:// He's got 28.3% of the company so is highly driven to engineer a rising share price because it will personally benefit him. A lot. Current valuation at below 1x EBITDA. Regular dividends and/or share buyback likely. Reviewing acquisition opportunities. Newsflow could drop at any time and get the share price moving up very strongly again as it did last year. In the meantime the company continues to generate huge amounts of cash.
fardels bear: If we look at SQZ after buying Erskine production from BP at 3000boepd, we see a share price of 30p and 265m shares in issue. Mkt cap £79m. If we look at RRE with 12,590,403 shares in issue and average production this year of 11200boepd the current 600p share price gives us a mkt cap of just ice £75m. Now being that we all thought (or holders did) that SQZ was undervalued at the time, what conclusion must we draw for RRE share price?I've tried to ignore decommissioning as that's not free cash and as unrestricted cash RRE has over twice what SQZ held at the time. SQZ P2 at the time was less than 5mmboe so that counts in RRE favour and I've just realised I've invested here without being able to find out what the current reserves are which with any other oil co would worry me.
cf456: Good post from the lse BB: --- "If joe blogs has 1 share, representing 10% of the shares in a £10m company, his stake, and his share is worth £1m. Now, assuming there is no price action, if the company buys back 5 shares (half of the shares) and cancels them, the market cap is now £5m and there are 5 shares left in circulation. Joe Bloggs still has his 1 share, which now represents 20% of a £5m company. This equate to £1m a share. If the company make £5m a year profits, and assuming this fact is unchanged by the share buy back, the PE ratio when there was 10 shares would be 2. In the situation where there are only 5 shares, the PE ratio is now 1. Lets assume that when there was 10 shares the company's PE ratio was at fair value of 2. IF there are only 5 shares and the PE is 1, then the share price should in theory have to appreciate by 100% to get to 'fair value' of PE = 2. People saying RRE market cap will go down by 20% are correct and people saying that the share price will go up by 20% are correct in theory. The difference is that the former is guaranteed, and the latter is not. Having said this, wiping out sellers equivalent to 20% of market cap would massively tip the balance of buy vs sell pressure toward the buy side, and this is why i am very excited for the execution date to pass as not only will the company be more undervalued due to having the same operating incomes but with a smaller market cap, but there will be an absense of sellers dampening any share price appreciation that follows."
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