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No it's very simple when or if the offer comes it will have a completion date down the line a month or so for example then the proceeds will go to your broker to put in your account.
or if you want you can sell near the to level once announced
Quality ? Never made a penny in 4 yrs, its been a nightmare.
This is terrible news, any potential buyer would want an quality asset like Fortuna! The way Alan has been running Ophir over the last 6 months has me baffled? For a company to have so much free cash and high quality assets to end in this position is only down to poor management from Nick right through to Alan. I bought into this company around 5 years ago because of what it had and its potential but look where we are now hoping to get a 60p a share buyout!!!
It depends, one problem with cash offers is often the duration also if shares are in a isa it takes them out of the wrapper and makes the money taxable.
does anybody have any experience with the procedure involved regarding our investment ie will our shares/cash be tied up for a long period of time?
Cheers
We will soon see if Alan Booth is any better than his predecessors.
Looks like both parties were waiting for all to be out in the open regarding all of the assets.
The wording suggests you won't have to wait long for the outcome.
55p to 65p could the FT be right after al 55p??? as reported last week
Senn
I think any drop will be short lived and bought into as the possibility of a takover is even more likely now, Booth will be keen to negotiate with medco imo, can't keep being punished forever for the same thing ( the market never priced fortuna in anyway, the asset has a value that cannot be denied ( I think wheels are turning now.
True jimmy but it won’t stop the market punishing ophr Monday morning again. Good job markets are rallying ..... expect a blip and possibly 40p hit. Now I’m starting to think by today’s statement that the BOD are fed up and the fact they mention talks are continuing shows that the offer has not been disregarded or been disrespectful from the bidder ..... food fir thought !!!
Equatorial Guinea was always a wild card. And the market had discounted it to zero already. The game has somewhat moved on with the Medco deal.
Forecast $300pa free cash flow for next three year, that's possibly as much as $1,000,000,000 at current production rates.
Much appreciated new KOTB. I’m looking to buy if the price doesn’t spike from here, I agree with other posters as this has to worth 70-80p surely. Did I read correct that they forecast 300M revenue in the next 3 years alone?
Sounds like a tad of bromance to me.
Would be really surprised if the deal was not done imho
"Our discussions with Medco have taken place in the shared knowledge that there were a number of potential outcomes with respect to our Fortuna asset, and these discussions continue..."
The backhand dealings of brown enveloped officials
or
Medco didn't want Fortuna so pointless keeping Ophir running with one asset, so we let it go.
All tied into the deal no doubt.
We will never know which.
aimo of course
sorry told
Think one point worth note is when Boothie issued the RNS on weds that both parties were all ready in discussion, with it the rise and leak we would still be in the dark. That leads me to believe that it's a done deal and we would have been rd a to was happening and he price.
https://www.ophir-energy.com/press-release/block-r-licence-equatorial-guinea-2/
Alan and the board need to be strong and only recommend a true value offer. Not sure what is the true value but santos assets along warrants a 45p offer, add on the rest of the assets then 85p or more?
We've got a lot going on in Jan. Fortuna / Trading update / Takerover, So I think that's why the price is stuck. The Market needs some concrete news!!!
Rookie1,
"2P reserves increase of over 40% from 49.4 MMboe to 70.6 MMboe" .... as per Santos circular, less production since then.
Hi all, doing a bit of research and wondered if anyone could tell me Ophir proven resources after the latest acquisition? For some reason the website was last updated in 2014?
duster,
Using our Santos deal as a metric, we should achieve around 69p/s for our 70m P2 reserves alone.
As the Santos deal was only yesterday in terms of value attributable to OPHR, I see no reason why this should not be the minimum our board should look at in the first instance.
Remember, Santos wanted the cash to pay down their massive debt pile, so we should achieve significantly more than 69p imo, at 80p/s I think the II would vote for without a doubt.
We are not in a fire-sale scenario here, far from it, although we are in volatile times regarding hydrocarbon stock, it would not surprise me that institutions would take 60p. Given the way our SP has reacted, this has to be the starting price and possibly the only price on offer. Really need ano to join the party, but I feel there are so many value stocks to pick from Ophir are one of many bargains for t/o out there atm.
Lets see what Monday brings
gla
up 3.5% to me it's a done deal what price is the question would you take 60p if an ii prob ad how long to get this value waiting
RNS Monday 1 code end of play
Munch,
Well if it does, from the 8.3 RNS released with very little holding any short position, there will be many disgruntled Institutional investors. But as you say, just have to wait a little longer.
Strange share action ever since Wednesday given the position we are in, with no volume and little SP movement, other than backwards.
I will add more should we return sub 37p as I do feel, we should given recent market strength pop back up above 40p quickly and continue a slow rise. M&A will occur and Ophir will still be one of the low lying fruits for sometime imo. However that is assuming the manipulator who drove the SP down, will disappear the SP should be released back into 'normal' market conditions.
Or, this fiasco could be over with a firm offer that has our boards backing .... either way I do feel like yourself next week will be defining.
gla