Hi guys Mick - dont know what 50% cost of well would be but I think the issue is these kind of prospects tend to have a 10-25 % of success so farming down to reduce exposure to zero or a very small amount us prudent. I much prefer them diversifying exposure to high risk reward exploration wells and maintaining a very meaningful exposure with little cost as these wells often end up high cost no reward. I think pursuing more appraisal stage opportunities or mature field rejuvination projects is a better use of funds. I agree ROC will earn some serious dollars over next few years but I don't agree that due to this they should chase alot of exploration prospects, much prefer more Lower risk prospects and a few higher risk exploration with managed exposure
ROC Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held