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A further 25% drop would be overkill imo. I think our SP is being very actively managed atm for a t/o come licence renewal imo. You just need to watch the trades that are happening day after day, week after week.
You would have thought that the possibility of Fortuna being dead was already priced in? but who knows,
If it dropped to 30p as mentioned ( can't see that happening) then that would leave ophir vulnerable for a hostile takeover, which would not be good for investors.
Should Fortuna become a go with the renewal of the licence I can see OPHR instantly becoming a T/O target. With the recent Santos deal and Fortuna we could be taken out for under a quid atm given the way the SP is being managed atm. Absolute steal that would be and a real possibility.
"Fortuna sits within the Block R licence, offshore Equatorial Guinea which is located in the south-eastern part of the Niger Delta complex. Ophir holds an 80% operated interest in Block R. There have been six commercial discoveries to date in Block R, five of which were made by Ophir. There is a total of 3.0 Tcf of independently certified 2C contingent resource and another 0.7 Tcf of low risk prospective resource in Block R making a total of 3.7 Tcf (at November 2015) for the project planning case."
I agree. It could drop to the 30p area before there is a rapid bounce. So I have a core holding just in case it all comes good but will be looking for a buying opportunity is Fortuna is written off. After that it looks like clear blue sky and the real value should become much clearer!
A lot of people wrongly think it won't make a difference if Fortuna totally written off books. Disagree, the sp will significantly fall if that happens. Risk considered before buying recently. GLA
Fortuna is either dead or be worth shitloads on a deal.
Another good buy, £42k ..... ATG at it again !
07-Nov-1811:33:19 39.00 109,058 Buy* 38.8039.00 42.53k O
Thanks. I would have thought someone like James Menzies would be good for this one. I thought he ran Salamander that Ophir actually bought a few years ago...
Sell bot being very aggressive this morning atm !!
Must be a large buy order in.
Looking very interesting now
Nice bounce this morning, hopefully a base now formed. GLA
I checked in pre-market and it showed down 10%. That woke me up, I can tell you. Fortunately, that did not transpire.
400k after close
Something in the wind
ICEO also
NED
Is Alan Booth still the CEO here?
Plenty more big trades after close
Thanks buddy.
Indicators look a touch oversold and 4-hour Stochastic is set-up to turn IMO.
Obviously Fortuna has hurt sentiment, but I've looked back through the RNS history and can't see a reason why it's dropped so far? Valuation seems ludicrously low vs assets.
ATG,
Looks like your buy did the trick, BOT now switched into buy mode by the look of it.
Great entry prices by the way.
Hi New Kid.
Obviously I'm only speculating here and who really knows, but I'd bet my newly acquired shares on those being shorts closing. Hence the move up since.
Whatever the reason, as a new investor I'm loving seeing that level of confidence.
ATG,
Interesting timing, why choose now to invest £180k
They were mine.
Not really. But I've bought back in today. Used to hold in the 60's. Really gone off the rails here!
* after *
Couple of large buys, would expect to see more filtering through later are todays shenanigans .
06-Nov-1814:19:0737.8754 318,169 Buy* 37.5037.65 120.51k O
06-Nov-1814:19:0139.1497 150,000 Buy* 37.5037.65 58.72k O