Rockpool Acqui Regulatory News (ROC)

26 Jun 2009 08:06



26 June 2009 

ROC OIL COMPANY LIMITED ("ROC")

STOCK EXCHANGE RELEASE

Not for release or distribution into the United States or to U.S. Persons

ROC SUCCESSFULLY COMPLETES A$68.8 MILLION SHARE PLACEMENT

ROC has successfully raised proceeds of approximately A$68.8 million in equity capital through a fully underwritten placement of approximately 88 million new ordinary shares. The placement attracted strong interest from a range of existing and new institutional investors at an issue price of A$0.78 per share, determined following a bookbuild.

The placement was oversubscribed with strong demand from Australian and international investors.

Commenting on the equity capital raising, ROC's Chief Executive Officer, Bruce Clement said:

"ROC is pleased with the response to the placement from existing and new institutional shareholders. The equity capital raising will strengthen ROC's financial position, providing the Company with the capacity to move its key development projects forward and to be in a position to commit to investments in the BMG Phase 2 Gas and Beibu Gulf Oil Projects. In conjunction with ROC's operating cash flow, we will be well positioned to exploit existing reserves and resources to grow the business."

Settlement of the placement is scheduled to take place on 2 July 2009, with the issue of placement shares to occur on 3 July 2009.

As previously announced, ROC will also offer eligible shareholders the opportunity to purchase up to A$15,000 (subject to the grant of relief from the Australian Securities Exchange ("ASX")) worth of ROC ordinary shares via a share purchase plan ("SPP"). The record date for participation in the SPP by eligible shareholders is 7:00 pm (AEST) on Tuesday, 30 June 2009. Accordingly, this will include persons who acquired shares on ASX on Thursday, 25 June 2009 and who have not sold those shares and who are otherwise eligible to participate. Further details of the SPP will be provided to eligible shareholders in due course.

The placement was fully underwritten by Morgan Stanley Australia Securities Limited. The SPP will be managed by Commonwealth Securities Limited on behalf of the Company. ROC is being advised by Gresham Partners and Allens Arthur Robinson.

The trading halt that was implemented this morning on the ASX is expected to be lifted prior to the commencement of trading on ASX on Monday, 29 June 2009. There will be no trading halt on AIM during the course of the trading day on Friday, 26 June 2009.

DISCLAIMER

This release does not constitute an offer of shares into the United States or to any U.S. Person (as defined in Regulations S under the United States Securities Act of 1933, as amended), or any other jurisdiction in which or to any person an offer to whom such an offer would be illegal. The shares have not been registered under the United States Securities Act, as amended, and may not be offered or sold in the United States or to or for the account of U.S. Persons unless the shares are registered under such Act or an exemption from the registration requirements of the Act is available.

Bruce Clement

Chief Executive Officer

Matthew Gerber

Manager  Investor Relations & External Affairs

For further information please contact:

Mr Bruce Clement on

Tel: +61-2-8023-2000

Fax: +61-2-8023-2222

Email: bclement@rocoil.com.au

Or visit ROC's website: www.rocoil.com.au

Michael Shaw

Oriel Securities Limited (Nominated Adviser)

Tel: +44 (0)20 7710 7600

Bobby Morse

Buchanan Communications

Tel: + 44 (0)20 7466 5000

Fax: + 44 (0)20 7466 5001

E-Mail: bobbym@buchanan.uk.com

Mob: +44 (0)7802 875 227