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as per last RNS?
Letting go of a lot of people in London...
http://www.lngworldnews.com/ophir-says-fortuna-flng-fid-now-expected-in-h2/ The FLNG project has two milestones outstanding prior to the final decision: the awarding of the offtake agreements and the closing of the project debt facility.
Yes you're right munchbox, yet they had been making all the right noises up until now. I think in reality it's more to control those in mineral extraction but wittingly or unwittingly they've dented confidence in the offshore sector, hopefully some clarification will come out.
PMO's discovery is in Block 7 of the Sureste Basin, and we are partnered in Block 5. A significant discovery in an untouched basin, hopefully Ophir will finally have a bit of luck in an oil play.
Thanks for the early warning. Had already sold in the eighties. Seems to be responding to oil price etc. this morning so possibly now all factored in. Hope you had a few shillings in pmo today - bit like bby and clln here and never felt the mergers had much to offer either bby or pmo.
Mb59. This is the number 1 problem in investing companies who operate in 2nd / 3rd world economies. Of purse the rewards are greater but there's an even greater chance of losing money than making money, I think Tanzania is in the hands of shell and if they walk away this development could be years away as nobody will have the financial n political muscle that they have can carry this project forward. It's all down to the EG asset and Thailand production, not much hope there I guess although if there is any light it's a few years away.
Always thought they would exit Tanzania, does this just make it more difficult and less rewarding! Why are the Tanzanians dragging this out, they should have gone FLNG for starters, more money for everyone concerned, and the Gov could spend there's on creating other jobs as well as the ones involved in this gas venture.
Looks like this will become a non-core asset at shells next office meeting, Ophir should have sold their remaining 25% in Tanzania when they could have got good money but hey ..... good job they sold out to shell and the other company leaning them with 25% rather than 100%, again this highlights that the country of investment is just as important as the asset because these guys change rules whenever they like, good luck guys, I can see the trading update mentioning this and causing further drops.
trade update tomorrow! jeez only bought back in yesterday. alot to take in this week!
another article i found: http://interfaxenergy.com/gasdaily/article/26652/new-legislation-could-cripple-tanzanian-lng down over 5% now. only bought back in yesterday ☹️
http://www.mining.com/web/tanzania-laws-allow-govt-tear-mining-energy-deals/
turning bullish and if this numpty of a share doesn't rise this afternoon can you please come back Lodan.
ExxonMobil, Taleveras, Ophir Win E’Guinea Oil Blocks June 6, 20170729 https://www.thisdaylive.com/index.php/2017/06/06/exxonmobil-taleveras-ophir-win-eguinea-oil-blocks/ Ejiofor Alike with agency report United States oil giant, ExxonMobil, Nigeria-based Taleveras, UK’s Ophir Energy and Clonterf Energy have been announced winners of Equatorial Guinea’s oil acreages, after the latest licensing bid round held by the central African country. Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Obiag-Lima made this known at a press conference Monday during the African Oil and Gas Conference held in Cape Town, South Africa, saying ExxonMobil has signed a Production Sharing Contract (PSC) with his country for oil acreage EG-11, effectively leading the list of acreage winners during the licensing bid round. UK-based Ophir Energy won the Block EG-24, Taleveras, founded by Mr. Igho Sanomi, picked the highly potential Block EG-07, while Clonterf Energy landed Block EG-18. According to the minister, the country’s 2016 open and competitive bid round was declared a success by industry analysts and watchers.
Irish junior Clontarf Energy landed Block EG-18. http://www.upstreamonline.com/live/1274387/ophir-atlas-petroleum-win-eg-acreage Ophir, Atlas Petroleum win EG acreage Four other companies handed Equatorial Guinea blocks, after ExxonMobil signs new PSC UK player Ophir Energy headed the list of acreage winners in Equatorial Guinea’s latest licensing round that was dominated by smaller players. The London-based company won Block EG-24 in the West African nation’s Ronda 2016 round, with all winners revealed by Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima on Monday. Nigerian pair Taleveras and Atlas Petroleum picked up blocks EG-07 and EG-10, respectively, while Irish junior Clontarf Energy landed Block EG-18. London-based Israeli player
Cash burn and concerns over LTH PoO. Also unloved stock. Am down 20% but will exit if sp hits 90s which might happen with anticipated crude stock draw downs
The news looked decent - why the big drop
Look at SQZ
Omg, where's all the chat? Spent the morning screening stocks and this and Cairn came out as great cash rich players, hmm time to invest?
New to board..any thoughts about Ophir and Aminex farm in or possibly throw the cheque book at them?
Makes a nice change doesn't it :)
Oil up tday giving ophir much neede lift
OOPS! Sorry, wrong message board.
The fact that many bought on the spike this morning and are still holding reflects the level of optimism surrounding this share or it could just be that investors are now understanding how undervalued these are despite the aggressive drop in the last hour or so, in my opinion.
looking now to sign off fortuna july, august