Roc takes a hit on reserve downgrade

SHARES in Roc Oil have dropped 26.7% this morning after the company said its reserves might drop as much as 25% following a downgrade in proved and probable reserves for the Basker Manta Gummy project in Bass Strait.

Roc takes a hit on reserve downgrade Roc takes a hit on reserve downgrade Roc takes a hit on reserve downgrade Roc takes a hit on reserve downgrade Roc takes a hit on reserve downgrade

Roc expects its remaining gross 2P reserves at the BMG project as at December 31, 2009, to drop from 18 million barrels to 3-5MMbbl, subject to further development activity.

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