150 m usd cash - 163 aud, page-5

Danpech

there is the assumption a fair bit of condensate will be produced therefore it may not be as bad as the conversion you mention

The part that I don't get is with the massive opportunity of Malaysia PSC and the very early days in Beibu, why do the deal now when beibu production has dropped off quickly and ROC had activity to last at least a few years , both exploration and appraisal

Although both stocks may have the same paper upside, given HZN has the risker assets, I would have preferred to go this alone. The deal would have been fairer via a 50/50 ownership

Thank God it wasn't Roc launching an hostile bid because we would have been finished. Danpech credit to you for your ability to see it clearer than I did. I was influenced by reading the HZN thread about how good their assets were, but upon reading broker reports, it seems all suggest HZN go a good deal and ROC gets only Scale