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Everyone needs to relax and come back in 12-24 months time.
On this board but that’s purely a function of people’s average price. As I said a few weeks ago at 179p when I got in the scarcity value of the Moma asset isn’t reflected in the multiple with KMR trading on 0.4x of tangible book. Simples
ignore the day traders, and return to LEK in 6-12 months. We should all be very happy by then
Picked up some more on this dip. Just wait for Iran and US to get heated and watch what oil does
the oil company has to be Shell
Topped up this morning after last week's 600k purchase. Now sat on 1.2m with 3.8p average
Good things to come
Managed to get 3 x 200k blocks over last 24 hours. Few institutional sellers clearing out. Good opportunity.
Same thoughts NKOTB, got a feeling there is another party lurking in the background
Another party could still make a higher offer. Not impossible
Will take it
I said yesterday it wasn’t likely to be an offer of 60p+ This looks like it will have the support of BOD and ultimately shareholders. Sorry for those who’ve owned a long time. But with market volatility as it is, I doubt 55p will be improved upon.
Deadline extended. Discussing 55p bid
NKOTB - hope you’re right. Got a lot invested here from a November - December accumulation. Got lucky re timing
I’d love 70p as much as anyone! I just can’t see Medco going above 60p given volatility of markets, the oil price etc
The situation is pretty straightforward. If Medco are serious about wanting the SE Asian assets (and given they made an unsolicited approach in October 2018, they seem to be), they should make a fair and attractive offer, and maybe an offer for the SE Asian assets only. This then leaves Ophir free to monetise the rest of its portfolio at a later date.
Due to takeover rules Medco will not be able to bid again for another 6 months if Monday's deadline passes. I'd therefore be surprised to not see an improved offer for the sake of 5-10p (£40-80m) which I think is what is needed over and above 48.5p to get the BOD on side.
Already holding 475,000
I’m expecting an improved offer forthcoming either over the weekend or on Monday after Asian markets have closed.