150 m usd cash - 163 aud, page-3

yes it is true

the more I look at ROC vs HZN,( and I read analysts views ( I have spoke to one today and read another update this morning also ) of HZN assets the more I feel as Roc shareholders we got dogged and I am starting to feel like Danpech and Etherazer than I am not fomd of this for us

I am slowly becoming less warm to the idea as many analysts view the PNG assets as high risk. One sights how HZNs partner( talisman) has flagged intention to exit PNG


Now something that I and Cmonassuie picked up and in the quarterly was that Beibu production fell substantially during the quarter, and the use of word the efforts "to stabilise" production is also concerning in light of the fact that as Roc shareholders, this is the biggest revenue generating asset we are acquiring by far and issues with this are worse if we are doubling up of this asset.

So, we are acquiring
Maari - which I don't like and never have
Beibu 0 which is good as long as there isnt production issues and reserve downgrades
PNG assets - considered potentially valuable but also high risk


Roc would have been trading at an EV per 2 p BOE of 6 dollars ( including balai cash ) and would have got a carry for Bohai

HZN was.is a heavily shorted stock were shorters didnt touch Roc

I have partly reduced my position today and will be taking it 50% of original