Member Info for bobo

Yep already have a feeling of regret here!! Not really underwater but the lack of interest is worrying me. Sounds like we are due some flow rates next week, I am nervous about the hz well update that should accompany the news. There will be a proportion of the market that hasn't picked up the delay. Could well see 5p if the news is worse than a simple delay On the flip side they could simply have held on until the hz section was underway to avoid a negative reaction. In the end the important thing is to get it right not drill it by the end on November

hopefully the start of a PR campaign, god knows they could do with it http://www.oilbarrel.com/2014/12/04/conference-report-2-petroneft-resources-resumes-production-drilling-infrastrata-has-key-wells-to-drill-in-2015-and-xcite-energy-updates-shareholders-on-development-planning/

The horizontal well sounds like it's a month or so behind schedule. Evasive answer at the end there, sounds like they haven't started for some reason. Thought this was holding up ok given the sector meltdown, that presentation seems to have seen to that!

Predictive txt caught you out there buddy!!! Like to use the word thong do we?

specul8 at the last 1/2 year (june) was $400m. I missed that, was looking at the YE2013 figure of around $250 and the rate of growth of debt to guess $300. The company has stated its intention to move capex to investment in its production activities, rather than exploration. they are basically telling us they will tread water for a year or so until they have the balance sheet under control. I agree we should be looking fro a better deal from OPHR but anyone looking at us at the moment can play hardball because SMDR is going nowhere.

ive only had a quick look at ophir, initial thoughts on the drop is no one is interested in African gas these days. SMDR on the other hand can offer near term upside with the Asian oil drilling, the advantage for SMDR is the cash, they have spunked away $200m in the last two years on a load of minor discoveries. They run around breakeven due to their crippling debt servicing which runs around $50m pa if I recal. I just cant see a way forward for them without another massive placement, nobody will lend them anymore cash, debt must be around $300m today. On that basis I see this as a decent way forward for them.

Matt, agree there. I would vote for the takeover, although I would like a few more Ophir shares. There is little is SMDR to drive the near term SP, Ophir on the other hand, with its cash reserves, could reinvigorate smdr. I see no other way of this returning to a £2 equivalent.

Always was, the connections run through both companies Ophir get cash flow, and near term upside through exploration SMDR get debt wiped and become a cash generating subsidiary Ophir are awash with cash, so much they are buying back shares on the market cod they dont know what to do with it!! Long term play, could be a significant e&p. Been here years a couple more wont hurt. Short termers are disappointed cos there's no cash takeover

ok flip it on its head, the sona offer was for 40% of the producing field, not 40% of SMDRs balance sheet, so you cant compare because they are only buying future production revenues form part of SMDR.

yeah but they dont want the $250m of debt, which is probably nearer $300m now. so if you say the sona deal valued the field (business) at $700, the real cost to sona for the whole business would be around the $1bn mark

and its not a cash offer, the market is discounting the probable sell off of ophir shares when it goes through. no quick buck......but the combination will make a very strong company.......whats another couple of years eh

Because they've just told you they will. Looks like a done deal. Have to say this looks like a decent way forward for SMDR, was wondering how they would ever take the company forward without another placing, drilling wells is very expensive in the region and SMDR don't generate enough cash for the exploration, cash is not something Ophir are short of

1st buy for two day. Surprised the so has held up given the 2m in sells. Had an order in for 3x 50k when the ask was 6.2 yesterday was being quoted 6.4 at best. Switched to a limit and got filled eventually through ISDX Suspect there is a background buyer taking the sales, looking out for a big trade being reported.

rumours of another offer

up and down like a fooking yoyo this one.

ah well, put these back in the bottom drawer looks like CEPSA threw their toys out of the pram....didnt like SMDR still talking to SONA and didn't like the details of their offer being released. this makes the SONA look very appealing, it clears the company debt, allows a small return of capital to us long suffering holders and retains all the exploration upside. Whether SONA are still prepared to pay the same given the oil price collapse remains to be seen. Will be interesting to see if Ophir step forward

http://www.investegate.co.uk/compania-esp-s-a-u/smdr/offer-talks-terminated/201411171831382633X/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Compania%20Esp%20S.A.U%20Alert

was forced out by the shareprice movement, there had clearly been a leak. there was also a note at the bottom that it had been released without informing CEPSA, sound like they weren't too happy about it but what could they do? the Sp was running away.

Yes but the cepsa deal is for the company, so taking on the debt. The sona deal was for 40% of the main asset with no associated debt. You valuation for the cepsa deal needs upping by around $250m

Can't see the accepting the cepsa offer, rumour was there was a cash offer when the sona deal was agreed for around 150. This is opportunism on the back of the oil price. Don't forget to factor the debt pile in.