George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Frank,
Thanks, I see the context now ..."would catapult the firm into being the seventh largest non-NOC [national oil company] upstream producer in South-East Asia, above Hess and BP, and just behind Repsol and Total"
Financial Times today
Medco Energi
Powerhouse producer
South east asia
Angus Rodger research director @ Wood Mackenzie
No real indicator I'm afraid, guess the SGX boys have more on their plate atm with Xi
Placed my top up orders.
gla
https://www.woodmac.com/press-releases/medco-energis-potential-takeover-of-ophir-energy/
Per the RNS, Medco have an Indonesian 'phone #. Wasn't it Indonesia who showered us all with profits from the fabled gold mines of BreX? Then there was Bumi which established and cemented Jacob Rothschild's reputation as an international financier. Now we have have Medco. What could possibly go wrong this time?
Seriously, it's steal if they have the money and can pull it off. Fabulous assets for sale at pennies in the pound.
Frank .....
Not sure what figures you are looking at but afaik BP do around 3.4mbopd.
But. yes, anyone acquiring OPHR will be looking to add around 33kbopd upon deal completion imo
Well well well. Who would have thought the market plunging. Wtttfffff did China News have to come out lol. It’s worked perfectly just as newkotb said ..... close of 53-55p on the cards here. Perfect for the next leg up. IM NOT SELLING. No change. Way to cheap !!!!
Profit takers!
This deal if happens will make Medco 7th largest NOC
Above Hess and Bp
Just behind Repsol and Total
Taking oil out put to 110,000 boe/d
Game on
IMO
SGX
Why
Next 25 minutes will be a good indicator who's interested in OPHR imo.
Eye on the volumes!
Morning all, watching and reading with fascination. Quietly added some in December. Imo, easily worth £1+ here. The santos deal was transformational. Peronally wouldn't mind if OPHR stays as is. POO will rise in 2019. The bidder knows this.
I was adding some balance stating that they could walk away. Hopefully they wont and we get an initial offer to underpin the fundamentals
Well said NK
More to com Baz
Just to counter the doubters who have already arrived and many more to follow no doubt ....
"Possible they could walk away ?" ..... answer yes
flip side
Possible 100p offer in the next 10 minutes.
Jesus this is some share this is, never seen a share move like this.
that this would be taken over sometime ago.
Agreed, this is hugely undervalued especially after Santos asset buy, which was a clever move IMO. Anyone saying this is too riskly to buy today has no clue about the potential. Anyways, I am all in already so very happy. Looking for at least 65p-70p at minimum today. GL all, great day ahead.
Some people are predicting 60-80 p for the entire company which is a joke. The assets in Tanzania are worth a lot more than that. In Nov' 2013 Ophir sold 20% to Pavilion for $1.288 bn. If a low ball offer comes in they might as well join the party and take the rest plus all other assets for the same amount.
I've been in Ophir since day one (literally) and I will be very disappointed to see it's being handed out for cheap.
Good luck all!
Without Fortuna this is worth 75p of anyones money.
Too risky for me as we do not know the fate of the Fortuna licence.
Hope people do not get spiked! Looks like quite a few holders waiting to exit on a spike.
RNS out:
RNS Number : 8663L
Ophir Energy Plc
01 January 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE OR
AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE
For immediate release 31 December 2018
Ophir Energy plc
Statement regarding the potential acquisition of Ophir Energy plc ("Ophir") by PT Medco Energi Global PTE Ltd ("Medco") (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk).
Further to the share price movement in Ophir, the Boards of Ophir and Medco confirm they are in discussions about a possible cash offer to be made by Medco for the entire issued and to be issued share capital of Ophir.
This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any offer will be made, or as to the terms on which any offer might be made. A further announcement will be made as and when appropriate.
For the purposes of Rule 2.4(c) of the Code, in accordance with Rule 2.6(a) of the Code, Ophir announces that, by not later than 5.00 pm on 28 January 2019 (the "Deadline"), Medco must either announce a firm intention to make an offer for Ophir under Rule 2.7 of the Code or announce that it does not intend to make an offer for Ophir, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The Deadline will not apply in circumstances where either: (a) it has been either extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code; or (b) Rule 2.6(b) of the Code applies, by virtue of a firm intention to make an offer for Ophir having been announced by another offeror prior to the Deadline.
This announcement has been made with the consent of Medco.
No sign of a rns