The agency won the brief following a four-way pitch, which is understood to have featured Weber Shandwick, College Hill and the incumbent Bell Pottinger Corporate & Financial.
ROC Oil has a market capitalisation of £400m and has been listed on the London Stock Exchange since 2004. The firm is currently aiming to build on its UK institutional investor base.
‘We will be working with UK analysts to promote the company to its institutional clients, supporting ROC’s brokers in finding new shareholders and targeting the financial pages of the nationals,’ said Bobby Morse, partner at Buchanan.
‘In addition to financial PR, ROC Oil now wants to increase its investor relation work and we believe we have a strong investor relation offering.’
ROC recently announced the discovery of significant oil reserves in Angola.
The company is one of the first to embark on onshore drilling in Angola since the end of the civil war in 2002. Early indications suggest this strike could yield up to 170 million barrels. This is in addition to the company’s existing stake in UK and Australian oil fields.
ROC has been listed on the Sydney exchange since 1999 and sought a listing in London because of the enhanced opportunities to raise capital from institutional investors.
At present 20 per cent of the company’s shares are held by UK institutions, with the remainder of its shares in the hands of Australian institutions and the management.