Link to another article:
http://sg.biz.yahoo.com/041103/15/3o891.html
From Bloomberg:
"Woodside Petroleum Ltd. (WPL AU), Australia's second-biggest oil producer, dropped 19 cents, or 1 percent, to A$19.30. Santos Ltd. (STO AU), the nation's third-biggest oil producer, fell 6 cents, or 0.7 percent, to A$8.04.
Hardman Resources Ltd. (HDR AU), a partner in Woodside Petroleum Ltd.'s $600 million oil project off Mauritania, fell 3 cents, or 1.5 percent, to A$2.01 amid expectations its stake in the project will be reduced.
Perth-based Hardman, which owns 22 percent of the Chinguetti project, would have its interest cut to about 19 percent if the Mauritanian government exercises an option to take a 12 percent stake. The government is likely to do that after signing a funding agreement last week with Sterling Energy Plc, Roc Oil Co., another project partner, said yesterday."
So perhaps ROC's directors sold as their share of Chinguetti will be less once the Mauritanian Govt take up their option. Same for the fall in HNR maybe?