RE: Ophir shareholder letter: Petrus16 Jan 2019 09:22
DrillPipe,
Thank you so much, No I hadn't seen it !!!
Must read imo for all
So I'm glad my thoughts on Sunday "Stick Or Split" are inline with Petrus.....
"Having given more thought about Medco, it makes little sense to go for, well I wouldn't even call it optimistic, more like stupidity opening potential offer of 48.5p..... why, knowing you will not be successful let alone achieve anywhere close to that !
Are Medco after just after our SE Asian assets, to me it appears so, when they value Ophir at 48.5p
If this is the case our board should be looking for takers of our Mexican and Tanzania assets. Shell or Pavilion should be interested Tanzania with 15 Tcf of gross contingent resource, net contingent (2C) resource of 3 Tcf (501mmboe)
Sell SE Asian at +60p and get Tanzania and Mexico sold at the same time.
Sum of the parts has to be more than 48.5p, does it not ?
Could Shell or Pavilion be our boards white rabbit out of the hat ?
Putting our 20% share of Tanzania LNG up for sale at only 25% (75% discount) of what we achieved for our last 20% we sold ...... would give us 35p/s
I would take that on top of +60p from Medco
95p/s that is more in line with a realistic valuation imo."
-----------------
Sell off SE Asian portfolio and return excess capital to shareholder, then put Mexico and Tanzanian assets into an holding company with minimum overheads until sold also I hadn't included any value to be recuperated from our Fortuna licence ..... this would take a long time in itself, probably several years imo. Way forward, unless someone wants the lot in one go !!
--------------
gla
Sign In
Follow the stocks
