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The new CEO temp or not should be coming out with some sort of statement?
Chart is very bullish. Small gains everyday. This is still massively undervalued.
Breaking new highs now every 15 minutes
I also have bought into OPHR and AMER recently off this recommendation http://citywire.co.uk/money/david-kempton-4-small-stocks-for-the-oil-rally/a1120131 He recommended some stocks at the start of the year and if i would have bought then i would be a rich man!
Nice post. £1 average for me and 24p for AMER. Let's hope things have turned. The mid cap tend to.follow the Majors as a trickle down from institutional investors getting excited with PoO semtiment.
LC - Good summary of what to come, a lot of patience is needed with this bad boy...he will come good day, here is hoping. Added a lot more at 52p, will now forget about it and put it in the back drawer.
Think it will be snapped up now. Sitting duck
It has been a couple of days since Nick's exit and I'm still not sure what's going to happen with this company? It feels like it's sitting on a knife edge and could go either way? I've held shares in Ophir for around 4 years and it's ridiculous that I still don't know if this company is going to be a success or not. Does anybody have thoughts on what's next for Ophir?
I’d say that’s fairly close to the mark. The longest negotiations in history perhaps?
Just suppose he went because Fortuna funding negotiations are a mess and he can't get them over the line.
Maybe Nick been asked to step down as part of takeover.
Can’t see us surviving as an independent company now. I’m sure the board are on full takeover alert.
This news should hopefully give the SP a lift ... long overdue
Looks like the moaners on here got what they wanted, today's RNS tells us Nick is stepping down
May 15 (PFI) - The government of Equatorial Guinea could scrap the US$2bn Fortuna floating LNG project if project sponsor Ophir Energy is unable to finalise debt for the project, now delayed for more than a year. UK-listed Ophir, which is developing the project with Golar LNG and oil services firm Schlumberger, faces a licence expiry in December this year. Gabriel Obiang Lima, the country's minister of mines and hydrocarbons, told Reuters this week: “We have a clear idea of who we would give the license to but at this stage we are not prepared to comment.” Lima said another option is to scrap Fortuna and instead pipe gas from Block R into an existing land-based LNG project on Bioko Island, 150km south-west. About US$1.2bn in debt is required by Ophir, which is being advised by Societe Generale. It has held discussions with potential lenders including ICBC, China State Shipbuilding Corp and, more recently, a Singapore-based group led by Temasek. Three Chinese lenders abandoned the financing in May 2016 after signing term sheets. The offtake arrangement for the LNG is also in flux, according to Reuters. Despite an agreement to sell most of the LNG to Gunvor, rival traders Shell, Vitol and Trafigura are now said to be in talks for a new arrangement. “The problem is Ophir ... Ophir needs to make up its mind, decide which financing it wants and execute it,” Lima said.
I was going to go but backed out last min! Would like to known what uncomfortable questions the board are getting fired at them?
Exclusive - Equatorial Guinea may strip Ophir of LNG project due to finance delays. https://uk.reuters.com/article/uk-equatorial-guinea-ophir-energy-lng-ex/exclusive-equatorial-guinea-may-strip-ophir-of-lng-project-due-to-finance-delays-idUKKCN1IF1PZ
I am in here for one of the three things: - FLNG funding being agreed - POO rises and staying up, hence improving bottom line - this is so undervalued that at some point a major oiley will pounce If none of these happen, bad luck and I accept that. If two of these triggers simultaneously, we are in the money IMO. Let's what summer brings.
These analysts figures are meaningless now as Oil heads for new highs. Ophir will be back if 70p in now time then back towards £1. Has to re rate alongside all the other oil producers. It’s lagging behind at the moment but it’s catching up quickly.
The market hasn�t been too upbeat about acquiring Santos Limited assets because investors know it would need to raise money to fund the development of their Fortuna assets and this will increase financial risk. In the short-term, the newly-acquired assets should generate positive cash flow to partially fund any Fortuna development. This is a limited opportunity because the 2P oil reserves aren�t high, given the increase in levels of production. The market is still very pessimistic about Ophir Energy because a �420m valuation is pricing in future operating cash flow of �130m giving a price to operating cash flow of 3.3 times. For more on the interpretation of Ophir latest acquisition and yesterday�s update from Trinity Mirror and annual results from Elektron Technology, click http://bit.ly/2HP2vzU
In a series of transactions on 16 April Sailing Stone reduced their holding from 10% to 5% - ie dumping some 37 million shares in the market. I suspect that these still have to be fully worked through & that this accounts for the current price weakness. With significant low cost production & Fortuna still to be unlocked [potential "annuity style" returns of �150m per year] coupled with a market cap of only some �400m indicate a major opportunity for re-rating. Trouble is long standing holders are bored & frustrated but patience should be rewarded.
It must be time to bring in some new face on to the board and get rid of some! Someone had said that they are taking FTSE 100 salaries and returning nothing. I don't know why the major shareholders are allowing this to continue? The price of this stock as done nothing but crush over the last 5 years. We must be the only oil company that isn't benefiting for the oil recovery!!!
Gunvor. I think I'm right with that. I know plenty of nice russians and I am sure they are also. The floating thing does not appear attractive, if it becomes attractive then this will rocket. The business has hedged a bit to cover costs. Production should improve next year. One to put in the draw and forget about for me.
hello does anybody know much about the partnership announced at the back end of last year? specifically were they russian?
most of the oil and gas shares responded to oil price increase, but only Ophir moved only a penny, what is wrong with this share, is there anything seriously wrong with this company which shareholders not aware of?