broker value - stage 2, page-11

Cheers for your views Auto.

I suppose I was really wanting to better understand how ROC broker valuations only improved by a small margin considering the increase in production that ROC will announce in the future (i.e guidance will increase from 6500-7500 upto at least 12,000bopd. I realise as others have mentioned that ROC will not make a large return on the current production from the fields but still.

Anyway, I still wonder if ROC has any other deals like this in their forward planning, as there are a heck of a lot of other fields in Malaysia that could be developed.

You last point is the most important I think, and hence why as you have mentioned before, ROC downside is now strongly protected whilst its upside has simply increased even further.

Good luck to all longs.