First thing Cash and inv total 139m usd and 157 million aud....

First thing
Cash and inv total 139m usd and 157 million aud. Find me another oiler producing at this rate with that much cash/invs. what that does it heavily protects the downside

Now revenue may have disspaointed some, but production was over 800k barrels. The differnce in sales was last quarter. Roc had a stock overlift, some production was sold from storage facility that ws not theirs that they had to pay back this quarter. aslo there was an increase in stock held but not yet sold which is good for this quarter

Prodcution exit rate for year was 8853, bopd with Enoch still to come on. Therefore, one would expect Prod to be about 8000 bopd per day thus year. that should produce approx 275 m in USD reveneu of 305 in AUD revenue - this for a company whos market ap is 315 m AUD and uts EV is about 160m

Rocs forward PE should be about 4.5-5 this year

RSC still pending FD but develolent lan lodged whuch means ROC want to proceed and now require Petronas approval. they way it will be developed means revenue will start flowing immediately from Bentara fileds and even better, as existing wells will be used Caoex will be very very low. The reveneu coming back can be used to fund Balai fileds and thus need for big Capex virtually gone.

Bohai looking to be drilled end of year, these are two wells were HZN will pay 80% for a 40% share of permit, so for Roc will hav two very low cost high reward targets. tarher ranges 10-40 mbo. one find will be tansfroational for Roc even after CNOOCs right to bye into half