ROC: We are fortunate to be here

from Business Times

"Future cashflows, the existing debt facility as well as potential project financial through the joint-venture company should adequately fund pre-development phase capital costs," he said. This could be between US$200 million and US$250 million (RM638 million and RM798 million). Listed on the Australian Stock Exchange, ROC has over 180 employees with offices in Sydney, Perth, and Beijing, apart from Kuala Lumpur. For the first half of 2011, the company posted a trading profit of US$51.5 million (RM164.2 million), on the back of a revenue of US$131.2 million (RM418.5), with operating cost of US$19.16 (RM61.12) per barrel of oil equivalent. "We are fortunate to be here just when Malaysia decides to open up its oil and gas industry. The Malaysian government has been successful in attracting foreign companies to boost the industry through various incentives," Gerber said. By Kamarul Yunus