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Futures $71.67
This could easily double before year end. Vastly oversold.
Onwards from here
OPEC and other large oil producers, including Russia, are suggesting they could cut supplies next year due to a predicted glut of oil on world markets. Meeting in Abu Dhabi on November 11, major oil producers said they "reviewed current oil supply and demand fundamentals and noted that 2019 prospects point to higher supply growth than global requirements." They would therefore continue to consider "options on new 2019 production adjustments, which may require new strategies to balance the market," they said in a statement.
Directors purchased over £200,000 worth of stock at an average price of 38p during Sept. think this is the bottom
Well lets hope that the Opec meeting helps us om Monday, we need it,
Couple of good things that came out of yesterdays action :
Triple bottom (within 0.08p)
Gap up now formed 37.52p
How you mate
Never thought I'd say this, but kinda happy with a drop of "only" <4% today, bearing in mind how plenty of other oilies fared. I expect a continued bounce on Monday too, let's see.
I too wouldn't rule out a bid. However any bid would have to start at 80p minimum just to cover the asset value, and that is assuming Fortuna is a total write off!
Well, there's the JP Morgan short. And there's Fidelity loading up.
Both 'manipulation' in a sense.
I'm fairly sure that they'll be buying back those shares around here though since it double-bottomed just under 35p.
So will likely stay in this range a while yet.
Short tracker will tell us all!
atm you could buy the company for 50% premium and still cover the cost with the first years revenue.
Plus I would think we have something like $100m cash on hand atm also.
Finley1,
atm, I too would firmly lean towards a t/o, too much SP active mgt for too long for it to be anything else other than a magic rabbit with Fortuna. Although I fancy any +ve outcome of Fortuna will prompt an approach imo with possibility both are already inextricably linked any how.
Given our low debt and +25k - 30kbopd at cica $10 barrel costs, Ophir, even without Fortuna, is already throwing off cash like there is no tomorrow since the Santos deal.
Hey, I don’t comment very often but I wouldn’t discount a serious take over here. The CEO has done it before.
I have seen this type of activity a few times, the share price held down, then out of the blue the RHS comes.
Fidelity, are also in my opinion a very good fund to have on the share register, I topped up after their increase.
I was in Salamander when they got acquired by Ophir, so I rule nothing out.
Here’s hoping.
Cheers.
Though I suspect SP being manipulated it is a great buying opportunity for PIs IMO, and my personal analysis discounts Fortuna 100% (though I still dream of a turnaround there). No funds to add more myself today unfortunately but did add when we were last around 36. I suspect we will end the day only slightly down, and that just down to POO, same as most peers...
A large amount of 50k buys going in today. Possibly Fidelity increasing further?
I've added to my SIPP as a result.
You could justifiably think that OPHR is listed in AIM, not the main market. The SP manipulation is ridiculous.
'Active management of SP' nicely sums up what is happening. Instst. will be accumulating. Could get nasty, depends how badly they want your stock. Just hold tight and don't sell - this will come good eventually
Just bought another56540 @ 35.17 not shown up ?
Fidelity recently upped stake, only reason im still holding. Surely they must know what's about to come. GLA
but didn't follow them up, so in my book, we are well in credit still.
The PoO is not the reason we are where we are. Active mgt of our SP is imo
Following oil prices down
I'm heavily invested in Ophir and need to average down at some point, but if Fortuna is lost then I think this will tank.
The board couldn't have managed this any worse! They have to finally come out with a definite announcement just when the share is at an all time low and oil has clasped!
I'm totally gobsmacked that we're back here, contemplating adding if it drops further.