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No No...The investigation should go back to 2008 as a minimum not just from 2012....Ophir not losing all or substantially all of its Bualuang field interests in the Gulf of Thailand.- what does that sentence mean
The press release is cryptic. What have Medco spent the cash on then any boffins who know """Press Release""""Ophir not losing all or substantially all of its Bualuang field interests in the Gulf of Thailand"""Mentioned many many times as the "Cash Cow" of Soco,Salamander and Ophir. I was assuming Medco was buy all the assets..... This has got me stumped. Maybe i am stupid or just a Muppet!
Well to me the "BOD" should not be given a single cent should the sale actually happen. Any spare cash should be given to those investors that lost a lot of cash. To me if the sale happens with "Medco" it just stinks. In only a matter of 10 years and this would be the 4th sale of the so called "Assets" (GFI, Salamander, Ophir and now possibly Medco). The only people gained from this is senior management who all have found other jobs or retired in the sun.
I here on the grapevine that the deal with SMDR is a done deal and ophir move in on March! All i can say is thank heavens it is not my cash. Have not had any word yet on the terms But if ot was me i would start from ground zero and shut down Indonesia and Singapore and change out all the management across the board! Reason i mentioned the above about the management is that they need better management in place to actually get finance and find some good prospects globally. In Thailand and Libya?
I read the press release with interest about the average production of 15,000 BBls/day. Mm. If that was the case 2 years ago it would have been a good deal at $110/bble however it is not. Mmmm. If the Banks are convinced that handing over a whad of other peoples cash for a so called 3rd platform- that's madness... As for the buyout deal thats is madness at this time... I do not undetstand 100%
I am quite simply amazed that you people are pushing this price up. Look up the meaning of depleated! Even if this company managed to find oil or Gas it would take 3 to 5 years to bring it on. Anyway whoever is still in the Market to pick this company up i am sorry to say they will be buying an empty box of chocolates! As it stands. Have to offload indonesia and close singapore
Lets take a step back in time before this gets out of hand! Several years ago Salamander pulled out of Laos and Viet Nam. On top of that dark issue they installed a new platform in Bualuang field and drilled and installed completipns in the new "Bravo" platform. However production has NOT increased as proposed! To that end a 3rd platform was mentioned and under stidy. REALLY! for what? Production has been decreasing from the small B ualuang field for quite some time. To this end the company was put on the market for sale. So many players were mentioned Sona,Ophir and Cespa. Since Cespa purchased NuCostal they looked at SMDR and sain No. The spin Doxtors have attempted to keep the sale alive. Now what should be done. 1. Yes SMDR is still a buy! 2. Before buying, replace all the management,directors and subsurface teams,close the expensive singapore office. 3. Make Bangkok the Global office! 4. But staffed with the best people that can be found. Not dead wood What might the above achieve. 1. Actually getting people that can find and produce comercial oil fields. Good Lyck
Look all you toss potts that do not have a clue!!!!! It does not have a thong to do with the fall in oil price. It is to do with that the Bualang field os all but completed and G4/50 is a White Elephant!!!!! Chevron drilled several well in G4/50 and came up with zero. It has been you guys and gals in London that sold this to joe public and for sure still want your xmas bonus from selling the SMDR white elephant over the past few years. It would pay if you found someone that understood G@G and field depletion!!!! As for ophir and friends. They would be putting cash into the fire!!! Do your homework morons