Member Info for Jimmyr_83

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.

It was similar POO levels The board have been very clear, 48.5p has been flat out rejected. Would think a 20% uplift to that will have to be a starting point for discussion, so we’re back to 56p minimum and maybe they can pull a deal off where that is only for the SE Asian assets leaving value in Tanzanian and Mexico to be realised separately

Nice to see the BOD clear up any ambiguity with an official RNS. Medco left in no doubt that they need to pay up, or F-off...

Oil is up 15% in a week. They can F off with 48.5p

EG had been taken out of the share price after the initial write down at the interim results. In December when they announced a request to extend the license the shares rose around 5% on a market cap some 30% lower than today. That means anything over a 3% fall tomorrow is a nonsense and will be quickly bought. Medco will do the deal. They know if they don’t, and quick, someone else will.

Equatorial Guinea was always a wild card. And the market had discounted it to zero already. The game has somewhat moved on with the Medco deal.

Takeover was always on the cards

They’re effectively saying the company is up for sale. EG extension and we’re talking 100p. Without 60p. Either way significant value here and the BOD are of the mindset to take an offer Fill ya boots

BOOOOOOOOOOM Roll on Monday, this could get spicy

Here here

Ignore the Trolls - we all know why we’re here. This could multibag many times over during the next 12 months

We’re all here for something a lot bigger than Wressle. If/when UK gas is proved up this is going to be many multiples of the current share price. Until then, turn off your screens and ignore the village idiot.