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In 2014 Ophir sold a 20% interest in the gas fields in Blocks 1 and 4 in Tanzania for $1.3 billion. After a recent surge, gas prices are back to levels last seen in 2014 and Ophir still retains 20% of those gas fields. What are they worth now - certainly multiples of the current share price just for that one asset.
Talk of 80p or 90p takeover is too low. Something to ponder over the weekend!
Good luck, thats a excellent price.
Roth Yes I noticed them also. My first instinct was that it is probably Sailing stone drip feeding the market. Sailing stone still hold somewhere around 20 million shares (based on their last TR notification) Or The capital group who hold a large chunk also but have been reducing If it is the capital group we may get a notification RNS on Monday GLA Sailing stone hold below the 3% threshold so are no longer required to inform the market when the dispose!
Happy with 35.5p, saw this trading at 44p recently... Another £20k to add if it stays here for another few days.
gla, interesting posts about potential T/O?
Big shareholdings have definitely changing hands over the last few months and this is ongoing. At the moment someone is accumulating in sizeable quantities. For example just after lunchtime today there were big sells of 1,250000 followed by another 250,000 shortly thereafter. The price dipped a bit soon after the sells but not for long and was soon back in the blue. No corresponding buys were recorded as yet!
Whether this is just the institutions buying a grossly undervalued share or something else we know not and will not know until a threshold is passed or the buyer(s) reveal themselves and their intentions!
Can't make head or tail out of todays trading. Anybody got any idea whats going on here?
Just LSE having a wobble ... again.
I noticed that first thing this morning and got all excited, until I checked !!!
You will find the vol bought and sold is zero today also according to LSE
Whats up with share charts
Showing load 18k sells n buys
Then on main board no trades
Workover,
"You need to remember that it is illegal to purchase shares and “strategically accumulate” without informing the market at key thresholds 3% 10% etc etc..."
Yes, but there are 'legal' ways around this also.
I do hope you’re right! I hope someone is strategically accumulating and we wake to an RNS telling us that said party has made a bid of 90p plus for Ophir! Nothing would please me more You need to remember that it is illegal to purchase shares and “strategically accumulate” without informing the market at key thresholds 3% 10% etc etc
Workover,
Can not disagree, although given the 'active' mgt of the SP it's not just about watching the sells but the way and how how they are traded. The action over the last few months has been unusual to say the least.
Time, like always, will tell, but imo this is not as black and white as it first appears.
gl
New KOTB “t. The price action for months has all the hallmarks of someone strategically ” ——— Lol I’m a holder here... but forget price action! The last few months of RNSs have already confirmed that we have at least 3 major investors selling heavily ! One who owned 12% of the stock!! Yes I know we have had some institutional buyers also but RNS and “price action” confirms that we have some conviction sellers ! Hence why we are at all time lows ! More sellers than buyers ! Market dynamics ! When someone buys heavily the share price tends to go up ! I’ve seen this with one or two oilies I’ve owned in the past who have been taken over ( Caracal Energy, Coastal Energy, Heritage Oil, Emerald Energy, Burren Energy, Dragon Oil and Dana Petroleum to name a few)! To summarise: current price action indicates someone selling not someone buying PS: don’t counter with “manipulation” bull caca please
The price movement is frustratingly boring.
Thank you
NK for your knowledge
Gl
The deal would need an egm / shareholder vote. If suspended all holders would be locked in until suspension is lifted at SP at that time.
The SP could rise on rumours or RNS statement of interest/bid which would give options to holders or we could just as easily suspended at current SP. If a bidding war was to occur, which I would doubt without Fortuna licence being secured, the SP could end up anywhere. Failed bids would also be a factor. Should a t/o deal be voted through, then yes you get whatever the deal is. So we could open tomorrow on a bid and be instantly suspended, the offer agreed by shareholder for 80p, so in this case, yes they would be automatically worth 80p and sold and any loss/gain realised.
But what ever you do, don't think anything is a certainty, because in this game you never know.
gl
Looking on the bright side, at least one of the main assets from the santos deal is performing well, from yesterdays PMO update "In Vietnam, Premier's operated Chim Sáo field continues to outperform with production averaging 15.6 kboepd, up on the prior corresponding period and above budget. This strong performance was driven by high operating efficiency of around 95 per cent and on-going well intervention programmes offsetting natural decline"
So if takeover @80p senario
Would all my shares automatic be worth 80p
Then one would decide to stay or sell
Pi new to this
Frank,
I would think the majority of investors that have acquired stock over the last 3 years would not be out of pocket with a t/o of 80p, although I would love to see us dig ourselves out of this mess. The market has not been kind to O&G companies and it will take time to turn the ship around unless we pull a rabbit out of the hat, which is possible also. At 80p this would be, without question, an absolute bargain for anyone that could take on Fortuna. Who knows whats going on behind closed doors. As for me, yes a swift t/o would be fine for me given todays markets. Without the Santos deal, we would be dead in the water by now.
gla
Morning NK
Would you welcome a takeover at this present time
Or should we ride the storm
INYO
WO,
"Also if there was hostile takeover, by the time the acquirer purchases enough shares to make an offer the price would rise significantly..."
Sorry, have to disagree with that one ..... more than one way to skin a cat. The price action for months has all the hallmarks of someone strategically accumulating shares imo. Be that for a hostile t/o or just know how much headroom OPHR has to makeup on its SP until it is valued correctly. Just need to wait and see which it is.
gla
Not so! There are many ways without necessary a hostile takeover ! A company could approach the board and reach agreement at a significant premium to the share price . There could also be a merger of equals at a small increase / premium with the agreement of the OPHR board Also if there was hostile takeover, by the time the acquirer purchases enough shares to make an offer the price would rise significantly
Unless Ophr put themselves up for sale ( which they haven't, the only way a takeover could happen is hostile, and that would suck, I do agree that the existing price is ridiculous and difficult to understand, sometimes things dont make sense or add up, this is one of those times.
Oilboil,
IMO that is more likely than ever.
Good chance we will wake up to an RNS with that precise news sooner or latter unless the market re-rates us and sharpish imo.
So the industry experts thought the Santos buy was a good deal, and cost neutral in around 3 to 4 years, yet today the entire company is worth the same as the amount Santos assets were bought for. I'm sure the legacy producing oil and gas assets of Ophir in Asia are worth something, therefore this has to be massively undervalued.
Why some big boy hasn't just bought Ophir at this price is a mystery, not least because someone with big pockets could monetise the sleeping monster that is Fortuna
Yes think so
Got small top up yesterday great price
Can not go lower, surely.
Wheres LC , when you need perked up..