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This will come good eventually, just need patience as we all know this stock is undervalued.
This company is starting to look like they are in trouble now! The Santos deal was to be a bit of a smoke screen to cover over Fortuna but the market is seeing straight through it. The board have to come to some sort of decision now about Fortuna before theres nothing left of this share! Some of the Board members must be thinking about walking now?
newKOTB, no not at all just looking back at my mistakes. Should have cut at 50p as planned but got shafted here. With oil where it is thought this would prop the share price up but this has just dropped relentlessly. Never dreamed it would get this bad and thought the new guy at helm would step up and take control. Management are a joke plain and simple. The fact they have let the share price get here and done nothing about it speaks volumes
* at
* Why
Too much wine this evening .... hick!
So after you have sold up you fancy getting back in at at a lower entry. What else return and talk down the company.
Come back to see what is happening here. Absolutely sickening to think that there is management being paid to oversee this fiasco. This just drops day after day after day and they do nothing. Almost beggars belief
What, 41.5p, hardly.
Excellent entry point on anything to 45p imo
Looks like that last punter got mugged on the price he paid!
Looks like the Santos deal isn't going to stop this heading in to the 30's for the first time!
The market as lost all confidence in the shambolic board, it can't see passed the Fortuna mess.
I think what the last year has told us is that this share has no bottom, I suspect the board expected the price to told in the low 50's.
Never try and catch a falling knife is what they say, but I've bought some anyway.
As others have pointed out, post deal this will be a company that has 25kbpd of production, 70m barrels of 2P reserves, and even without Fortuna another few hundred million barrels of 2C reserves.
Reading through the previous publications, all the last CEO seems to have done is destroy shareholder value. Cash has been dwindling over the years without anything in return, continuing to embark on exploration and the purchases of new licences sounds great, but not great strategy when the market isn't valuing discoveries. It's no wonder he got the boot, particularly considering the share price performance.
Alan Booth has a good track record of delivering shareholder value, so would be happy to see his appointment becoming permanent.
A share buyback is not a good idea as after the new Santos deal the company would be in a net debt position! Priorities should be paying off the debt and optimising and integrating the new assets !
For a mid-tier FTSE O&G stock 707m issued capital is not a lot. In fact I would be surprised if that didn't increase.
New blood will want to make an impression, so will no be happy with recent SP decimation. Expect more deals and a more proactive board.
I've owned these for years, I started to buy when they were in the £'s and I've seen nothing but decline in the price.
The way I see it for the stupidly low share price is all down to poor board decisions over the years, false promises and bad timing. The board left Nick Copper in charge with no challenge then woke up in May and got rid!
I would imagine that some of the institutions that hold Ophir would like sell up and use the money in a more profitable investment. What I would like to see happen is for Ophir to reduce the number of shares in the form of a buy back and then see some new Institutional investors look at Ophir as a good investment for the future.
Yep I did my research and have read just about every RNS, annual report and presentation I could find ! Logic says this should not go any lower and the price should be supported by current assets excluding Tanzania Fortuna and the Santos acquisition!!! Laws of logic don’t seem to apply to this company’s SP.
don't worry, I'm with you old boy. :-)
Great entry price imo.
NKOTB What demand ? Looks like I’m the only one buying ! I can’t do it all on my own lol ! Need some help from some other people ! Will review the situation at the end of the month! I think I have bought enough for 2 days lol
The Santos deal will secure the near term demand of the market, so the the Sp will react accordingly.
Looking for return to high 40's by end of month.
This is not looking good! The board had one thing up their sleeve and that was the Santos deal and they even botched that up by miss timing the release of it? Even with that I wouldn't have expected the continued drop?
I wasn't expecting miracles today but I was expecting better than this?
Agree NKOTB When you write the numbers like that, the share price makes absolutely no sense !
A 25,000bpd production with 70mbbls reserves with ridiculously low MCap would be a target, only if OPHR want to survive would a merger be an option. Opportunistic T/O would be better odds ATM imo.
Luck counts I agree with most of what you said ! I have already started buying however the only thing concerning is who the new ceo will be ! If it’s someone like Kevin Hart (we could be in trouble)
I think to get rid of the history of under delivery and poor performance a merger of equals with another London listed oily might be beneficial... someone like Soco who are also SE Asia focussed or even revisiting Premier Oil who they have liked for many years ... it would give the company the chance to scale up and improve
Tdante The market just doesn’t give much credence to what OPHR have to say... it’s basically saying “show me the money” or “ I’ll believe it when I see it”! Also uncertainty regarding who the new permanent CEO will be will have a big impact on how this share is perceived ! I don’t think it’s arificially being kep low ! I think buying has been lacklustre (judging by trading volumes)
HNWI & II buying in at super discount prices .... buy orders being worked as RNS has given support for the SP .
Just waiting for shareholder approval, which is a given btw