hmmm... if Roc is the acquirer then this is a strange move IMO as in effect this leaves ROC farming out block 09/05 in China to itself, gaining access to NZ, a country it exited a couple of years ago holding a field in its last throngs of production , and picking up an extra interest in a currently held Chinese producing asset. This leaves the PNG assets and some debt/ cash.
The PNG assets must be special or I must be missing something....will wait to see the details but my initial reaction is negative to neutral.
cheers
Dan
ROC Price at posting:
45.5¢ Sentiment: LT Buy Disclosure: Held
