re: Ann: Activities for the First Quarter - E...
After getting a chance to read the quarterly, I think the most important part of it is that the 3 new fields which ROC has farmed into D35/D21/J4, Offshore Malaysia, will only be reported in the 2nd Quarter, so basically, even though ROC is producing another 5,000+bopde, it will not show up until after the merger.
If this had been included, I really do wonder what the Share price of ROC would be. Of course, HZN will get its $77 million soon, so perhaps that might have bumped their share price up too, but... I have to wonder, timing wise, have ROC management been a little too generous?
The next quarter for ROC from its current assests, will be better than this quarter, so add in the new fields, and ROC will be hitting some pretty exciting numbers. Ho hum. All for the greater good I know, as the merger entity will have much more flexibility etc in developing current and new projects.
I hope the merger goes through, as the the company would be the kind of stock that I can hold long term.
Lastly, does anyone think that perhaps, with this deal now in the markets face, will possible suitors for both companies have to make a decision to move? As after the merger, the company will be much bigger and arguably, better able to fend off bids.
ROC Price at posting:
45.2¢ Sentiment: LT Buy Disclosure: Held
