Member Info for NewKOTB

Frank,

Thanks, I see the context now ..."would catapult the firm into being the seventh largest non-NOC [national oil company] upstream producer in South-East Asia, above Hess and BP, and just behind Repsol and Total"

No real indicator I'm afraid, guess the SGX boys have more on their plate atm with Xi

Placed my top up orders.

gla

Frank .....

Not sure what figures you are looking at but afaik BP do around 3.4mbopd.

But. yes, anyone acquiring OPHR will be looking to add around 33kbopd upon deal completion imo

SGX

First Trading Day of 2019 and SQZ have already this year increased their income stream of the BKR asset by +25% by just siting in their offices with no capex at all, other than for coffee.

Looking forward to finishing the year +180p at least.

gla

Next 25 minutes will be a good indicator who's interested in OPHR imo.

Eye on the volumes!

Just to counter the doubters who have already arrived and many more to follow no doubt ....

"Possible they could walk away ?" ..... answer yes

flip side

Possible 100p offer in the next 10 minutes.

So with a bankable 70.4mmboe 2P's even this alone will give 78p/s on market rate of $10barrel .

With in excess of 27kbopd and looking to up that to at least 33kbopd, and producing around $300m pa free cash-flow for the next 3 years, an opening opportunistic offer of around 60p will not be out of the question.

Negotiations have to start somewhere, it's where they end up is what counts.

Looking forward to a great day tomorrow.

gla aimo

AA, agree, demand for stock will be high, or should be, given the rock bottom starting price and how extremely oversold this is due to months of SP manipulation ... could easily see a +30m shares traded tomorrow. Very high volatility is a given imo, so focus on the end game and not minute by minute SP movements, as +10% swings will be aplenty, the BoT will be working overtime.

Day traders will be swarming over this board from tomorrow so enjoy our last moments of sanity.

I will be happy with a close above 53p ( our price only 6 months ago) as a stable platform to move on from.

Looking forward to TR-1's and who's involved.

gla

Baron took, what we believe to be the case, a shed load at just under 40p, so wanting to 'shift' some, would mean he's looking at a price substantially above this for him to even entertain it.

Or, he could just be fooling others into selling for him to add more at the lowest price possible, as ''some'' could mean just a few thousand shares, who knows, only Baron in this case.

Either way, do what is right for your own investment.

Well done, cat and mouse underway. Our board flushed out PT Medco with the latest RNS, using "..and is proactively evaluating the OPTIONS available to the Company to maximise value for shareholders for the rest of the portfolio".

Now, two points of interest.

Firstly, the ruse used to issue the RNS was "Further to the share price movement in Ophir, the Boards of Ophir and Medco confirm they are in discussions about a possible cash offer to be made by Medco" (RNS due to be issued 7 am tomorrow). Now, why with only a 7% rise ( achieved in the closing moment of the half market day) when only the other week a +10% mustered no response, should raise eyebrows.

Secondly, what are our "options", the board would not have engineered this without a firm belief we have another interested party sniffing around. They could have just told Medco, to do one !!

Interesting few weeks ahead, gla to all holders & lets hope for a very, very happy New Year.

For immediate release 31 December 2018

Ophir Energy plc

Statement regarding the potential acquisition of Ophir Energy plc ('Ophir') by PT Medco Energi Global PTE Ltd ('Medco') (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk).

Further to the share price movement in Ophir, the Boards of Ophir and Medco confirm they are in discussions about a possible cash offer to be made by Medco for the entire issued and to be issued share capital of Ophir.

This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any offer will be made, or as to the terms on which any offer might be made. A further announcement will be made as and when appropriate.

For the purposes of Rule 2.4(c) of the Code, in accordance with Rule 2.6(a) of the Code, Ophir announces that, by not later than 5.00 pm on 28 January 2019 (the 'Deadline'), Medco must either announce a firm intention to make an offer for Ophir under Rule 2.7 of the Code or announce that it does not intend to make an offer for Ophir, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The Deadline will not apply in circumstances where either: (a) it has been either extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code; or (b) Rule 2.6(b) of the Code applies, by virtue of a firm intention to make an offer for Ophir having been announced by another offeror prior to the Deadline.

AA,

I know it's a little fingers in the air, but OPHR have some great assets. The RNS let the cat out imo, so PT Medco Energi had to act, flushed out by our board, great move.

Given a single interested party I would see an opening offer of around 63p (+75% to closing SP), with an opening SP at around 54p. Now this is where it will get interesting, how did PT Medco Energi acquire shares ( which I'm sure they have done) is critical to the t/o offer. The highest price in the last 12 months is 95p, that will do fine for me btw.

I would also put money on there being at least another interested party, (which we will know soon enough) should Fortuna be renewed all bets are off, SP could go anywhere. The fact that the licence decision has not been made, to me, tells me there is every chance that Fortuna may still be in play, and as such should offer significant value to any potential takeover value.

If nothing comes of the announcement, which I doubt, given the RNS wording, then at least our SP will say adios to the 30's and 40's for ever imo.

gla

Always been on the cards, just had to look at the the never ending 'AT' BoT trading over many months, just watch the TR-1's flood in now !

http://www.publicnow.com/view/7230878E38C1553F8473BEFDA9A240ADE6C96C1E?2018-12-31-19:00:08+00:00-xxx6685

"In addition to the Initial Consideration, up to £16 million is payable to BP in January 2019 or
thereafter provided that the Rhum R3 Well has achieved a specified minimum production threshold
for 90 days during the first year following completion of the workover anticipated to take place during
2018. If the production threshold is not met, this element of the consideration will not be paid. .
Up to a further £23.1 million in aggregate is payable in three annual instalments (of up to £7.7 million
each), in respect of 2019, 2020 and 2021. The amounts payable will be reduced if Rhum field
production and the price achieved for sales of Rhum gas do not meet certain thresholds.
BP will also receive a share of net cash flow from the BKR Assets of 60% in 2018, 50% in 2019 and
40% in each of 2020 and 2021. The net cash flow shares are calculated on a monthly basis. No
amounts are payable by Serica UK unless this cash flow is positive and amounts are repayable to
Serica UK in the event of negative cash flow, up to the amount of prior payments made to BP in the
same year."

HP,

"looking very oversold.." has been since Octobers failed reverse takeover imo.

But, yes, exceptional value atm.

Does this mean what I think it means ... lets hope the price is right !

"..and is proactively evaluating the options available to the Company to maximise value for shareholders for the rest of the portfolio"

There you go Munch, blue !

Lets see if tomorrow manages blue again.

Have a good evening.

There are two timeline in play here, PW's and north African rubber stamps.

You can not put all the blame onto PW he just wants to get on with it and is most probably frustrated with the speed of the Egyptian authorities, together with their 'ways' of doing business.

Munch,

The trajectory of the SP has been under control of the BOT for what seems like an eternity.

You just have to look beyond the SP , OPHR will come good imo, but like I mentioned, will OPHR be allowed to turn the ship around, I think not ... this will be a target without a doubt. Fortuna may well be the key to this imo.