150 m usd cash - 163 aud, page-13

Danpech
It's simple in my view
Gas prospects deliver - then merger is Ok for ROC , but if they don't it's a poor deal . What i also am wondering is the Malaysia phase 1 and 2 would a lot if cash and capital . This would have been eased by cash build up this year with exploration largely free carried by HZN , so hzn acquire 58% of bohai and use for free . Those two wells would cost HZN and saved about 20-25 m in cash

This is a good reminder one has to discount all stocks for management stupidity even when you don't expect it.

I was reading annual report this arvo and was unimpressed by the benchmark to get performance bonuses . The only good thing about the merger is to replace 10 pigs in the trough with 5

Seriously unimpressed with this , it's not a deal done when a company has strong cash ,big production and enough growth to last them 3-5 years