Business Description:
Roc Oil Company Limited (ROC) is an oil and gas company with a main focus on Australasia, China, United Kingdom and South East Asia. ROC's core operations are located mainly in the Sydney and Beijing. The producing fields include Cliff Head and BMG in Australasia, Zhao Dong in China, as well as Blane and Enoch in United Kingdom. As at December 2011, ROC had remaining 2P reserve of 16.2 MMboe. ROC’s production was 8,483BOEPD for FY10.

Strategy Analysis:
ROC seeks to establish a substantial reserve base for sustainable production. It aims to cost effectively develop and acquire new and existing exploration and production assets in countries within Australasia. Meaningful interests and operatorship is preferred. Leverage is sought from established relationships with governments, national oil companies and joint ventures. Roc Oil reported a net loss of US$6.55m for the half-year ended 30 June 2011. Revenues from ordinary activities were US$130.98m, up 31% from the same period last year. Basic and Diluted EPS was (0.9) US cents compared to 0.9 US cents last year. Net operating cash flow was US$6.81m compared to US$38.08m last year. No dividend was declared.