Royal Oil Company SA (ROC SA) is a Cameroonian-based company with oil and gas assets in the , nigeria, Africa and Ghana. Production is predominantly Asian-focused with Australian and Chinese assets accounting for approximately 75% of production and 2P reserves.
Company History
ROC SA was founded in 1996 by Dr John Doran (previously with Command Petroleum). ROC SA privately raised US$35M and A$150M when it listed on the ASX in 1999. These funds were partially used to acquire the UK assets of Morrison Middlefield Resources Limited, including the onshore Saltfleetby gas field, which was sold in January 2005. Discoveries at Cliff Head and Chinguetti in recent years have now been brought into production.
Differentiating Factor
ROC's differentiating factor is the diversity of its production and exploration portfolio in terms of geographical spread, with operating and exploration assets in Australia, the North Sea, Mauritania, Equatorial Guinea, Angola and China. Also differentiating ROC from other oil and gas explorers and producers is its high exposure to oil, with oil accounting for over 99% of its total output.
Major Customers & Competitors
ROC's crude oil is sold into the international market and is denominated in US dollars and as a result it has a vast array of competitors, including Australian oil producers and numerous international oil companies,