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Go though all the trades on lse today. Look at all the tiny sells below 1000 shares. They are hard at Work trying to bring this share down. Frustrating the people out daily nonstop, they wll carry on with there agenda. They know at what point this will stop. Unfortunately we dont know.
Workover
You judge this stock in a practical and fair manner with an honest assesment which i really apreciate. Unlike another poster here who is constantly ramping ophir on a daily basis which is getting very tiring to read, especially with caps lock.
Heres hoping for good news on Tanzania or Fortuna. Wish you the best of luck my friend.
No worries SBB! Yes the tiny sells are what frustrates me! If this was tanking due to 5% of the shares being traded then it would be a real problem! Volume is very weak at the moment. I think this is mainly PIs selling because they have had enough (and who can blame them?)!!!! The company needs to take a long hard look at its communications strategy
Tdante Its a though decision! I was considering the same thing today when it hit 36.9. I thought 40ish would be bottom I was badly mistaken. I decided against selling in case the company pulls a rabbit out of a hat and announces something unexpected regarding Block R / Fortuna or Tanzania ... you never know! I do however get the feeling that with OPHR there will always be an entry point! It’s not known for going up 100% in day lol!
I was invested at 41p and sold out today for a loss once 38p was hit, as i feel its still not reached the bottom, even if santos goes through on paper it could be be false temporary rise for now , however longer term will be some added value.
I am waiting for fortuna news and then reconsider, GLA Hope it works out as its not good for the many loyal investors here who are losing a lot of money. Please do not get too attached or fall in love with any stocks.
Thank you for the reply. All these tiny sells still going on. The games are still being played. With a new 52 week low being hit today 36.9p.
Bought some more.
Told you all months ago ,
January 30th
30- 40 p
But was laughed down
This is going to crash n burn
And take all shareholders money with them
People keep going on about no debt
*******s
I said then no way back
That still stands
Do not believe every thing you read
Will all end in tears...
38p gone and now 37p gone ! Trades going through at 36.95!! Just to think I topped up late last week at 41p!!!! This company has lost 10% of it’s value in just 5 days !!! At this rate it’ll be at 30 p in less than 2 weeks and 20p by the end of September!! I’m just gobsmacked!
That’s exactly how I see it tdante! Big boys / other oil cos are probably lurking in the wings waiting for the inevitable to happen before they can pounce ! IMO even if we lose the license the share will jump after the steep fall because the rest of the assets warrant more than the current share price
Good point workover,
So i guess the market is writing off the 604mil for Fortuna as a loss, which will show on future financial statements etc. I think probably only good news from Fortuna can reverse the slide for now.
Caller one I completely agree ! I have mentally written off both Fortuna and Tanzania! I’m here for the production assets and Santos acquisition! I honestly thought 40p Would be a floor! Will average down if it hits low 30s! With this share anything is possible !! If you said to me a few years ago that Ophir would be less than 100p I would have said you’re mad!!!!
Luck counts When you take off Fortuna, you lose almost half of the 2017 net assets because ex cash, the assets were around 1.3b! Fortuna alone was 604mil!! I think that’s why the market is scared ! Still cheap I know but ....
yep good point workover regarding fortuna sale. when i bought in here at 40p i was in my head i was writing fortuna off so any funding etc will be a bonus. even if we get a funding deal its going to be a few years before production. santos deal is good giving us a total production of all assets of 25k a day times say conservative estimate 60 dollar oil is a lot of revenue and cash flow.
THe more I analyse the situation, the more I think we need to get rid of block R one way or another before the markets will take us seriously! I think people are scared to buy at the moment due to the huge carrying value of block R in case it has to be written off! That will be a write down of $604 million !!!!!!!!!!!!!!!!!!!! Let that sink in!!!!!!!!!!!!!!
Caller one I hope you’re right! In practical terms selling Fortuna now is much more difficult than sourcing funding ! Why would a purchaser pay Ophir tens or hundreds of millions to take it off them when they can get it from the government of EG for free in January! I think our best hope is securing funding and getting an extension from the EG government!
all though i never buy into takeover rumours one wonders why someone has not tried to low ball bid this at current market cap. to think what pavillion paid over a billion dollars for a 20% share of one of our big gas finds make this current share price the biggest mystery ever. i am sure the new guy is working hard behind the scenes to turn this round as proven by the quick tie up of the santos deal. just hope we use the next 4 months trying to sell fortuna off rather then trying to find funding
good posts my friend as you state the share price here is a joke. just a shame cooper did not buy them ready producing assets like santos sooner before burning through all that money. what needs to happen here now is sell off fortuna and tanzania even if we get half what they are worth and reinvest money in more producing assets as it will be years before fortuna and tanzania return any revenue. santos deal is a smart deal although it will put us in debt it will be a good debt as we will be returning a revenue straight away. mm's will do to this what they done to genel 50p / rkh 18p/ pmo 19p but in the end in the end the fundamentals will always come out. with small debt on balance sheet once we have 25 k barrels a day the profit will roll in.
When I invest into a company I invest in the board that's in place, available cash for investments and the asset base.
4-5 years ago when I first invested in Ophir they had it all, it only looked like a matter of time before they made it big!
Fast forward to now, CEO out, cash spent and no Fortuna, but still should be worth more than 38p!!!
Sorry thy response was to SBB1
Dave If you are into technicals this isn’t currently one you’d touch with a barge pole! I’m buying it as a recovery play based purely on fundamentals! To answer your question though, the rsi is currently in the mid teens (well into OVERSOLD territory)! However the current share price is currently below every single moving average and at an all time historic low- so from a technical perspective, it’s a don’t buy / wait and see I’m afraid !
I'm watching this like a hawk and ready to invest. But I'm not coming in until reversal is 100% on. The mm/ shorters are utter scum and with summer holidays not ending for another 2.5 weeks I expect the downtrend to continue. Anyone know the RSI?
Absolutely flabbergasted! It just non stop red days ! There doesn’t even seem to be a dead cat bounce ! Never seen something go so far against fundamentals! Although I’d hate to think what would happen if/ when EG grab back bock R! This company has me stumped! The share price makes no sense whatsoever Unless they are hiding something we don’t know about !
I thought I knew how to invest in the market. I've been doing it for years but this has got me buggered!
Does anyone know what the hell is going on with this terribly run company?
Seldom have I seen a share drift lower persistently day on day with no evidence from notable sales or fundamentals. Mms continue to manipulate this for their own sport..