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It is said that every dog has its day,
This one seems to be the exception
Really been shafted with this dog, just absolutely no let up. Can we not have some good news, any news just give us some relief :(
Hello AA Yeah we’ve been through it haven’t we. I look on this board from time to time - like you I sold out around 80 p on a huge loss too.. I still have a small holding too Really hard to believe how far this has sunk - been a terrible dog. Looks like it’s about to take another step down
Yep, we old Salamanders are the walking wounded, I still have a small amount in a isa but happy to say that I jettisoned at around 95p ( still at a huge loss.
Suspect an announcement is due re Fortuna Ie it’s not happening Awful mess this lot are in
Reckon we need to be (unbelievably) patient with this stock. Very overdue reward may well come imho, from some form of merger/bid.There should be some interest with their upside value being considerable..
Not even a dead cat on this, huge disappointment to many.
Totally agree. It seems to me that they are just waiting for the right time to write down Fortuna with the smoke screen of Sanstos! The trouble with Ophir is that they are terrible at trying to plan anything and it all ends up in disaster. It is almost like the board have never worked in the O&G industry, Amateurs at best!!!
Becoming pointless holding this, no upside when oil goes up and all the downside when it goes down. Really can't wrap my head around how this company has f***ed this up so badly
Can't deny this is a dog of a share and likely better short term opportunities elsewhere but with extreme patience I hope that once they get some new management and with a little luck they can turn this ship around. Decent assets, balance sheet is ok, just requires a lot of patience. Today's update seemed fine to me, ticking along.
2 months on from NICK getting the boot and still no news or progress? Why is taken so long even to send out a circular to the shareholders about the Santos deal?
Let's hope that this update is a lot better than last year's one? If they don't have any good news it could get messy. There's a real positive feel around O&G stocks just now, it's almost criminal that we've not benefited from this.
What a terrible stock this is!
Apologies I was looking at the impact of the holding RNS yesterday, forgot it was OPHR and posted about another company - please ignore
Whilst I'm posting though, I'm surprised at the complete lack of interest on the BB, suggests PI's have largely abandoned the company - looks like institutions are filling their boots. PI's regularly become despondent, and unable to see underlying value miss the boat.
I hold a few which I'll continue to hold, but not enough to worry or be bothered to post regularly.
It up slightly, nothing to be enthused about but a number of posters suggested further deterioration. I'm disappointed there is no financial news in their or a second RNS - after six months many companies provide some guidance pre-results, maybe we'll get something in the next couple of weeks.
Production up 361 bopd
May:
Total production was 149,030 barrels of oil ("BO") during the Period.
Average daily production was 4,807 barrels of oil per day ("bopd") during the Period.
June:
Total production was 154,064 barrels of oil ("BO") during the Period.
Average daily production was 5,171 barrels of oil per day ("bopd") during the Period.
This should double up, I remember Pmo which was a dog of a share, oil prices only going up as reality is biting
Another Max Petroleum
GMP FirstEnergy kept “hold” advice on Ophir Energy while arguing that the explorer is “ripe for a takeover”. It named Premier Oil, Genel Energy and Soco International as logical buyers at the right price. Schlumberger this month pulled out of Ophir’s joint venture over the Fortuna gas project in Equatorial Guinea, which faces a December deadline to finalise the development plan or lose the licence.
“With Fortuna at risk, the company’s strategy is in shambles,” said GMP. “Looking at the company through the eyes of a predator, Ophir’s resources lack scale for a major or a national oil company (NOC). With limited visibility on non-NOC Chinese buyers, we have therefore focused our analysis on other international exploration and production companies. We do not find the shares particularly cheap and therefore believe that a paper deal (with at best a small premium) would be more likely than a cash deal. Under such circumstances, there would need to be a very clear strategic fit with a potential buyer, or the acquisition would need to address a specific situation that a potential buyer is facing.”
The most horrible disgrace of a shambles i have ever had the stupidity to put money into. Absolute dog of a share. Every oil company on the market doubled the last 6 months and this has halved. A pathetic rise yesterday and it cant even sustain that. Down 5% with oil up and sat at $78. What are these pathetic morons at the helm doing. Are they sat at the beach? could at least send us a postcard to provide a distraction from the trainwreck that this is. The opportunity cost of being stuck in here whilst every other oil share rises is unbearable i just wish i could stomach the will to sell.
bargain at this price
Agree, Davstock, but they have started to pick up (more than 10% recently) and with financing being sorted out and the advent before long of a new CEO, leading to increased dynamism, hopefully, it might not be too long before Ophir might become an attractive take-over target..
Jan 2016, oil sitting at $28 / Ophir had falling down to 85p but very well financed, fast forward to now, oil at $77.50 and Ophir at 53.1p and an empty bank account to boot!
If the board had tried to bugger up this company they couldn't have done a better job.
They should just put us all out of our misery and sell this dog of a company cheaply .
Hi Email, They have to sort out: 1. Fortuna 2. Find a new CEO 3. Acquisition of the Santos. Just one of these would be a big job!
Hi Davstock... could you please clarify which are the 3 major issues you say the board should deal with?