Welcome to EQUITY DEVELOPMENT

The UK's longest established regulated provider of sponsored equity research.

We launched EQUITY DEVELOPMENT in 1997 becoming the first ever  regulated provider of Sponsored Equity Research in the UK.

Our research teams are made up of expert analysts with deep understanding & experience in their sectors.  Our research is distributed to all relevant investment classes & commentators. (at no cost to the reader).

We have made our name by specialising in those companies who are not receiving the attention that they merit, using detailed commentary, appropriate valuation metrics and regular publications to help eradicate undervaluation in the medium term.

 

FREE REGISTRATION

Sign up today and access the very latest company research

LOG IN

For access to all company research please

ROC Oil

ROC is a diversified independent upstream oil & gas company based in Sydney with a dual listing on the AIM in London (2004) and
ASX in Sydney (1999). The company has attractive exploration acreage in six countries, production in China, Australia and Mauritania, developments in the UK, and an exciting exploration programme in Angola and Australia.

Q2 update

Reappraisal of oil price forecasts, and of exploration and production assets, means NAV /share raised by 36% to 139p (shares at 115p)

Coming months see potentially significant drilling in Angola

Outcome of those wells relevant to being 'hunter or hunted'

Publication Date:
May 30 2008

One discovery in Angola, but Zhao Dong production recovering

Near term high impact exploration in Angola

Lower impact wells in China and Australia

NAV/share largely unchanged at 102p, but share price premium to that is at bottom of recent range

Publication Date:
January 7 2008

Q3 Results

ROC Oil reported its Q3 2007 results today.  The key news flow related to the results of the two Shallow Cabinda Targets, Cevada-1 and Soja-1, which both encountered good hydrocarbon shows but are judged to be uncommercial.  Whilst this is a setback for the company it is important to bear in mind that oil migration through the salt was always a big risk in the post salt play probed by these wells, despite the success of Massambala.  The remaining three wells of the 07/08 programme will all target pre-salt structural traps in a play that is as yet untested on the block.

Publication Date:
October 31 2007

Results and Angola update

ROC results in line with expectations

Shallow heavy oil discovery at Massambala in Angola

Publication Date:
August 30 2007

Exploration newsflow to drive changes in valuation

  • Post successful rights issue attention moves to ROC’s appraisal and exploration programme in China and Angola in H2 2007.
  • Other key wells will be drilled in Australia and Equatorial Guinea
  • NAV 105p(A$2.48) with 141p (A$3.33) of unrisked upsides from planned drilling

Publication Date:
June 25 2007

next