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What a joke Raising it by 2.5p, what's the point?
Saying its 73% @ december 28th sp,
Yes because they run this to the ground
Make it 73% @ march 20th price and we got a deal........
Absolute joke Davstock .
As a company, over the time it has taken to get to this stage since Medco's inital formal offer, we have made more in cash by producing / selling our oil ... so in effect they are making no "increased" offer at all .... afaic.
Well given sandgrove have given irrevocable agreements to vote for the takeover (thats how i read the RNS) I would humbly suggest this is now a done deal
Yep that’s how I read it also! I think the games a bogie now! SDX ENERGY, GENEL ENERGY, TRINITY AND SOCO INTERNATIONAL is where I’m focusing my efforts ... specially while RRE is suspended
Essentially they just sold their agreement for £3.5m plus whatever profit they had in the shares they held if the offer had stayed at 55p.
Not a bad days work really for them
We also have our 20% stake in the world's biggest known undeveloped conventional gas field - nearly 100TCF close to the shore - perfect for LNG - and as old nuclear stations from the 1960s/1970s are decommissioned by 2030 I think governments will have to boot up a few new gas-fired power stations (as they can't build enough nuclear by 2030 as they are already 5 years behind that schedule and haven't even begun most of the hypothetical new nuclear plants yet). Also nuclear is toxic and can be vulnerable to human error / earthquakes / and the waste is a nightmare to dispose off - and the plants produce hundreds of thousands of tonnes of waste (most people don't realise the volume which is produced). I would say the 20% stake offshore Mozambique has to be worth $1 billion as Shell paid $1.1 billion for the other 20% back in 2011 and since 2011 government have been printing money like crazy, so it simply can't be worth less now than it was back in 2011. But to give Shell a good deal I would be happy to accept $1 billion this time around rather than $1.1 billion. Hence what does $1 billion in cash plus our producing assets and the chance to sue to Guinean government for breach of contract amount to in total.
would say based on the above that is someone offered £1.70 per share for Ophir then they would have got themselves a stonking deal if they do a half decent job of managing the assets out to 2025 - and their is always the potential that they can get back into the Fortuna project in the future once the LNG market normalises and dmand from China/India picks up again - which surely it must when you consider these two countries have 2.3 billion citizens and most of them are still ploughing fields with donkey and walking from village to village … sooner or later their must be a trickle down effect in these countries and the average standard of living be raised up - and gas can be used either as LPG as a cheaper alternative to petrol or it's also the quickest way of reliable generating more electricity (to build gas-fired power stations, this is old tech, very efficient, very simple construction, very high efficiency and very clean burning - not bad for the environment as it burns so clean).
Ridiculous offer of 55p per share. Three times would be a bargain for someone. Come back with a sensible offer of £1.65 Medco and you may stand a chance of getting yourselves a bargain. he current directors of Ophir can have no sense of financial responsibility at all...they are a disgrace to even consider selling the company at 55p when they must know how much our 20% stake in the fields offshore Mozambique is worth ...if Shell/Exxon don't want that 20% then I'm sure the Chinese or Indian would snap it up at the price Shell paid for the other 20% back in 2011.
Sorry about all the typos in my last post - but the offer of 55p just makes me so angry when the directors should be trying to sell our Mozambique assets for between $1-1.5 billion.
The people who say it was an offer above the share price at the time ...how naïve can you be....don't you know the financial markets are as manipulated as a conjourers' playing cards....it only takes a few rumours and a couple of hundred thousand pounds to move a small share like Ophir by 20-30%...look at the typical sizes being traded on SETS....look at how spaced out they can be …. if trading is light you can have 10,000 shares at 70p and nothing in between up say 5,000 shares at 72p and then not much again in between until maybe another block of 10,000 at 73.5. That is just an example ...but I have been trading for ten years and it makes me so angry when politicians look to the market to decide on fair value ….like I said the market is as manipulated as a conjourers' pack of cards …. the only way to get close to fair value is to ask an auditor/accountant to make some reasonable assumptions about the future and to model the future cash flow ….everything else is just manipulation as it is setting prices based on rumours/political interests rather than what a company's value truly is … that is the sum of all of its future cashflows ...that is the one true metric of value to shareholders ….but the market is full of spivs who have found easier ways to make money than by modelling out a company's cash flow (based on reasonable assumptions) far into the future - anywhere from 3-30 years into the future would be reasonable timescales to consider for financial analysts.
Comes back to the question ..... Why do we NEED to sell ?
The answer is we DON'T.
So corruption is alive and kicking aimo