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Started: john4011, 12 Feb 2020 18:57
Last post: john4011, 12 Feb 2020 18:57
Haven't been on line for a year as they were a long term investment , where's my money gone
Last post: ripley94, 7 Feb 2020 16:59
long time ago
Still can’t believe this deal. Absolute joke
Started: Gordie1962, 7 May 2019 00:39
Last post: Gordie1962, 7 May 2019 00:39
Now being no expert investor more of a lucky gambler who usually takes losses accordingly, I must say on closer examination of this matter it fecking stinks shame on all partys concerned if it was gambling all bets would be suspended. My losses are small compared to others but the pain of the injustice is same. Power to the small investor. What's the odds on this deal crumbling.??????
Started: Rookie1, 18 Apr 2019 20:48
Last post: LuckCounts, 22 Apr 2019 06:40
I hope Ophir management get investigated and fined every penny they have every earned. Robbing cunts
Started: stinkrat, 28 Mar 2019 16:44
Last post: OilyV, 9 Apr 2019 01:05
stinkrat, booger n fn damnation, thats me on a loss of £55k, I curse the day etc
I dont think the current shares transfer across to a new holding in Medco tho OilyV. This is the end 57.5p payout unless the deal falls thru somehow?
Thank you for your reply OilyV
I am holding and will continue to do so long after the short term gamers are gone!
I expect £10+ minimum!
DYOR
Why are Morgan Stanley taking out short positions in cfds? Am i reading the rns's wrong? How could they expect to make a profit shorting if the deal with Medico is all agreed? Is anyone still holding plz?
Started: Jambam, 22 Mar 2019 11:16
Last post: frankpantangio, 1 Apr 2019 11:01
Thats me out LC
My sales showing as buys LOL
Thanks for the ride was up n down to say the least
Gl with your other investments.
Cheers LC
Had a little look at Amerisur , but locked in a few others at minute
Do you know when we will get cash from ophir, thinking just sell now instead of wait,
Have a look at SAR,been in since 2011, made a bit on spikes , but think big 1 due.
LC,
Agree, torrid end and totally unnecessary.
Problem is Ophir is not the only bad apple, just makes it worse that it's a main market listing and this type of daylight robbery of PI's and pension funds is allowed to carry on.
Boys club, alive 'n' kicking.
aimo
Morning LC
Sorry about your loss, disgrace what they done here,
I would have lost massive here , if not took bit of your advice and averaged down in the 30s,
Was a big risk , as i thought it was going to go all together,
Good luck with any others you have and hope you can get some losses back.
Frank
One of my best ever holds.Sold out today. Nice profit.
Thank goodness the board flicked away Coro Energy. Basket case company that never had any cash, trying to move their SP by making a shill bid for Ophir.
Started: stinkrat, 28 Mar 2019 22:45
Last post: stinkrat, 28 Mar 2019 22:45
* Medco
Started: NewKOTB, 27 Mar 2019 17:39
Last post: NewKOTB, 27 Mar 2019 17:39
Interesting that we have funds still adding atm.
For example, Tibra Equities added 3m shares at 57p .... is it worth it for £15k profit ?
"...The talks will ensure all parties involved will benefit fairly from the project, Energy Minister Medard Kalemani said at a meeting with Equinor executives in Tanzanian capital, Dodoma. Other companies involved in the project include Royal Dutch Shell and Ophir Energy..."
Just read this on a fb page today
https://www.oilandgaspeople.com/news/highlights/18164/tanzania-to-start-talks-for-30-billion-lng-project/?fbclid=IwAR3hEBdt3t2S6tzdIa4nVDEx8JW9XYkG_APN-Baq7s6_h9HANG7zrCZfHC4
This bod should be locked up, I’d love to meet them and tell them what I think of them.
Started: frankpantangio, 22 Mar 2019 08:04
Last post: LuckCounts, 22 Mar 2019 10:39
https://www.bloombergquint.com/business/tanzania-to-start-talks-for-30-billion-lng-project-in-april#gs.2k7yz6
This would have been sitting around 80p today if it wasn't for the crooked board.
Oil up / Movement in Mexico / Tanzania news
LC do you think this is a done deal , or is there any chance at all , it will be rejected
Comes back to the question ..... Why do we NEED to sell ?
The answer is we DON'T.
So corruption is alive and kicking aimo
Sorry about all the typos in my last post - but the offer of 55p just makes me so angry when the directors should be trying to sell our Mozambique assets for between $1-1.5 billion.
The people who say it was an offer above the share price at the time ...how naïve can you be....don't you know the financial markets are as manipulated as a conjourers' playing cards....it only takes a few rumours and a couple of hundred thousand pounds to move a small share like Ophir by 20-30%...look at the typical sizes being traded on SETS....look at how spaced out they can be …. if trading is light you can have 10,000 shares at 70p and nothing in between up say 5,000 shares at 72p and then not much again in between until maybe another block of 10,000 at 73.5. That is just an example ...but I have been trading for ten years and it makes me so angry when politicians look to the market to decide on fair value ….like I said the market is as manipulated as a conjourers' pack of cards …. the only way to get close to fair value is to ask an auditor/accountant to make some reasonable assumptions about the future and to model the future cash flow ….everything else is just manipulation as it is setting prices based on rumours/political interests rather than what a company's value truly is … that is the sum of all of its future cashflows ...that is the one true metric of value to shareholders ….but the market is full of spivs who have found easier ways to make money than by modelling out a company's cash flow (based on reasonable assumptions) far into the future - anywhere from 3-30 years into the future would be reasonable timescales to consider for financial analysts.
We also have our 20% stake in the world's biggest known undeveloped conventional gas field - nearly 100TCF close to the shore - perfect for LNG - and as old nuclear stations from the 1960s/1970s are decommissioned by 2030 I think governments will have to boot up a few new gas-fired power stations (as they can't build enough nuclear by 2030 as they are already 5 years behind that schedule and haven't even begun most of the hypothetical new nuclear plants yet). Also nuclear is toxic and can be vulnerable to human error / earthquakes / and the waste is a nightmare to dispose off - and the plants produce hundreds of thousands of tonnes of waste (most people don't realise the volume which is produced). I would say the 20% stake offshore Mozambique has to be worth $1 billion as Shell paid $1.1 billion for the other 20% back in 2011 and since 2011 government have been printing money like crazy, so it simply can't be worth less now than it was back in 2011. But to give Shell a good deal I would be happy to accept $1 billion this time around rather than $1.1 billion. Hence what does $1 billion in cash plus our producing assets and the chance to sue to Guinean government for breach of contract amount to in total.
would say based on the above that is someone offered £1.70 per share for Ophir then they would have got themselves a stonking deal if they do a half decent job of managing the assets out to 2025 - and their is always the potential that they can get back into the Fortuna project in the future once the LNG market normalises and dmand from China/India picks up again - which surely it must when you consider these two countries have 2.3 billion citizens and most of them are still ploughing fields with donkey and walking from village to village … sooner or later their must be a trickle down effect in these countries and the average standard of living be raised up - and gas can be used either as LPG as a cheaper alternative to petrol or it's also the quickest way of reliable generating more electricity (to build gas-fired power stations, this is old tech, very efficient, very simple construction, very high efficiency and very clean burning - not bad for the environment as it burns so clean).
Ridiculous offer of 55p per share. Three times would be a bargain for someone. Come back with a sensible offer of £1.65 Medco and you may stand a chance of getting yourselves a bargain. he current directors of Ophir can have no sense of financial responsibility at all...they are a disgrace to even consider selling the company at 55p when they must know how much our 20% stake in the fields offshore Mozambique is worth ...if Shell/Exxon don't want that 20% then I'm sure the Chinese or Indian would snap it up at the price Shell paid for the other 20% back in 2011.
Essentially they just sold their agreement for £3.5m plus whatever profit they had in the shares they held if the offer had stayed at 55p.
Not a bad days work really for them
Yep that’s how I read it also! I think the games a bogie now! SDX ENERGY, GENEL ENERGY, TRINITY AND SOCO INTERNATIONAL is where I’m focusing my efforts ... specially while RRE is suspended
Ahh yes I completely agree, I just thought I had missed some news.
Last post: frankpantangio, 19 Mar 2019 20:32
Lets hope you right LC
Still hold a few here , de risked a few weeks ago , but no regrets, made a profit,
Thanks for help on the way.
I suppose that could work, whatever happens though Ophir is going to be an Indonesian or at least South East Asian company either way
Oilboil
If deal fails we get to keep our company! The shares drop but we have more to gain in the longer term
I don't see a viable alternative - the current path isn't working, and no-one else looks like wanting to open their wallet and buy instead.
I don't want to sell at 55p - it would be a disaster - but I don't see what happens next if the deal falls
Hi Oilboil .......Sand Grove 21% has been critical of the takeover for being undervalue and along with Goldman at 9% both have been active since the announcement to increase their positions buying around 54-56p mark ..... these two shareholders alone can now block the deal.... I doubt they have been acquiring at these prices to sell at 55p..... what makes you believe it will be accepted ?
It hasn't failed, Luck counts is pointing out that a number of IIs and Hedge Funds now own a significant chunk (mostly bought at around 53-56p) - it's unlikely they'd do this to just sell at 55p so LC is supposing (sensibly) that those large holders are going to object (or apply upwards pressure) in some way.
The vote can't fail until it is voted down or Medco recindes it's offer...
Has it failed? I can’t find any news?
I would be over the moon to get back in at 45p please.
Last post: workover, 18 Mar 2019 11:18
Anyone know what the timetable is for the takeover? When is the vote taking place etc???
Last post: LuckCounts, 18 Mar 2019 08:26
I can't see the vote failing, the share volatility has died down and no one else has appeared with a better offer. 8 days from today Ophir will be no more
What will happen if the vote fails ? will it be back the same old failed management to run the business ? its clearly evident this BoD is unable to deliver any real increase in shareholder value.
We need Sand Grove and Co to install a new management team to establish a sustainable business or attract realistic bids. The Ophir staff must be completely demotivated after years of poor management and this bid process.
Started: Rookie1, 15 Mar 2019 14:59
Last post: Rookie1, 15 Mar 2019 14:59
If you can get paid of the Egyptian government, I consider that as risky as Kurdistan producers.
Started: tradernor, 15 Mar 2019 12:01
Last post: tradernor, 15 Mar 2019 12:01
OPHR drills offshore wells that are very expensive and very risky. I will definitely avoid it. I prefer Transglobe Energy (TGL) instead that drills onshore low cost wells in Canada and Egypt while generating free cash flow, trading less than 2 times its annual cash flow and giving 4% dividend.
Would it make sense for premier oil to make a bid for Ophir? North Sea and south east Asia are pmos main plays. Then they both have Mexico interests. I’m in Pmo and would sell Zama in a heart beat to buy Ophir with an extra 29k boepd at cheap opex. To me that would make slot of sense instead of bidding for expensive chevron assets.
Started: LossMaker, 13 Mar 2019 03:59
Last post: LuckCounts, 13 Mar 2019 09:05
I hope this vote fails and the BOD goes with it, they talk of maximizing shareholder value why don't they reject the offer and resign and let the Petrus recommended directors take over .....
They talk of 55p delivering upfront value in cash, the share price was above this level until June 2018 after which point the BoD gave little guidance on future plans except at the mid-year results when they said they would move to Asia and find a quality CEO. The uncertainty drove the price down, the assets under the right management would be hugely cash generative. Which would have driven the SP back to the analyst predictions 80-90p.
Note 5 in the results they have already incurred $8.0 million on the Medco transaction ! they incurred less on acquiring Santos $6.5 million.
The talk about reducing costs but unit per barrel increased $11.47 in 2017 to $11.67.
Production was above guidance due to Premier's work in Vietnam.
Per the CFO the company is unable to pay dividends or perform a share buy back due to a lack of distributed reserves, so there won't be any payout prior to a takeover.
So frustrated with this investment - high quality assets, low quality management
What's going on with this company?
Not sure if I should sell the rest of my holdings or buy more???
Last post: Rookie1, 12 Mar 2019 15:28
I can’t beleive the bod have the cheek to say 55p is representing fair share holder value after results as strong as that, it’s absolutely shocking. I hope the deal falls through and I will be piling straight back in
Can someone remind me when was the last day of submitting our vote on the proposed deal with Medco?
I have been checking on my share-trading account but no info appears under the corporate action section.
Thanks!
P.S. Of course I am voting NO
:)