Roc Oil Company Limited (ROC) is one of Australia's leading independent upstream oil and gas company with a presence in China, South East Asia and Australia. The Company operates across the full range of upstream business activities from exploration and appraisal to development and production delivery.
As an operator with strong industry relationships, including National Oil Companies, ROC has a unique set of competitive advantages - a distinct industry position for a company of its size. There are few other Australian upstream companies of a similar size capable of delivering this full suite of services.
The Company has a workforce of approximately 150, located in offices in China, Australia and Malaysia.
Incorporated in Australia, ROC listed on the Australian Securities Exchange (ASX) in 1999.
In April 2014, ROC and Horizon Oil Limited (Horizon) announced a proposed merger of equals. Before the process completed however, Transcendent Resources Limited (a wholly owned subsidiary of Fosun International Limited) (Fosun) submitted an off-market takeover bid for ROC, which the Board considered superior to the proposed merger with Horizon and recommended ROC Shareholders accept the Fosun takeover offer.
The Fosun takeover offer closed in November 2014, with over 90% of Shareholders accepting the offer of $0.69 per ROC share. Fosun subsequently announced in December 2014 its intention to compulsorily acquire the remaining ROC Shares on issue in accordance with the Corporations Act.
ROC delisted from the ASX in late January 2015, and continues to operate as an upstream oil and gas company under Fosun International Limited.