Member Info for Roth1

Apparently the OBA throughput continues to decline. A poster on another site reports that volumes have recently been regularly below 2000 bpd and for 'several days last week were only c1700bpd'. So that explains the share price decline!!

Can anyone explain for me the meaning of ' 283 feet gross, 209 feet net oil column'. I understand the 209 feet oil column bit but what is the 283 feet gross referring to?

Looks like they tried to drop it a bit too far this time and fell foul of the price monitoring regulations. No doubt lesson learned they will be a bit more subtle tomorrow!

Don't know just saw it flashed up and then quickly removed. No doubt they will be trying again tomorrow!

There was an attempt to knock the bid down to 13.50p at the close (and the offer to 14p) but they cocked up and got caught by a price monitoring extension! Bar stewards! Talk about a rigged deck.

I imagine Amer will be keen to release the initial flow results and pressure tests for Indico which I would expect soon. Also, am I right in assuming they will wish to do the connectivity tests with Mariposa before there are any appraisal wells drilled. If so we will know the result fairly quickly. All of which will keep the momentum going.

Debt reduction suggests production is way ahead of earlier projections. Great news!

There were early indications after Mariposa that ONGC were after buying Amerisure's interest in CPO5. If this is the case then they will have to publish full details of the true extent of the fiend and any connectivity fairly quickly. Personally I hope Amer hang on to the asset. I would sooner we were a producer getting a steady 10000 bpd from Cpo5 alone than a wad full of cash the would probably be spent looking for oil elsewhere with uncertain results. We don't need the cash (given the recent buyin from Occidental) to explore our other assets!

Sorry wrong link

https://www.fircroft.com/blogs/the-top-pre-fid-lng-projects-to-watch-83302614404

https://uk.advfn.com/cmn/fbb/thread.php3?id=40953386&from=14343#firstpost

Somebody still thinks the project is live!

In 2014 Ophir sold a 20% interest in the gas fields in Blocks 1 and 4 in Tanzania for $1.3 billion. After a recent surge, gas prices are back to levels last seen in 2014 and Ophir still retains 20% of those gas fields. What are they worth now - certainly multiples of the current share price just for that one asset.

Talk of 80p or 90p takeover is too low. Something to ponder over the weekend!

Big shareholdings have definitely changing hands over the last few months and this is ongoing. At the moment someone is accumulating in sizeable quantities. For example just after lunchtime today there were big sells of 1,250000 followed by another 250,000 shortly thereafter. The price dipped a bit soon after the sells but not for long and was soon back in the blue. No corresponding buys were recorded as yet!

Whether this is just the institutions buying a grossly undervalued share or something else we know not and will not know until a threshold is passed or the buyer(s) reveal themselves and their intentions!

The latest on Paus Biro 1 sounds encouraging. The original notification of the drill said " In the
event of significant hydrocarbons being discovered, up to 2 cased hole DSTs may be
conducted'. The fact they are doing three DSTs is very promising!

The recent sell off is indiscriminate and affecting all oil companies, good or bad. Ophir looks a very undervalued stock at the moment and I suspect is still suffering the Fortuna effect. We should have some news on that within six or seven weeks and with it there will be further news on current production levels (I hope). The three likeliest outcomes on Fortuna are a complete write off, a license extension, or news of financing coupled with an extension. I sincerely hope they only go for an extension if there is a real prospect of a successful outcome, otherwise this white elephant will remain a drag on the shareprice and an unwelcome distraction.

I too wouldn't rule out a bid. However any bid would have to start at 80p minimum just to cover the asset value, and that is assuming Fortuna is a total write off!

'Active management of SP' nicely sums up what is happening. Instst. will be accumulating. Could get nasty, depends how badly they want your stock. Just hold tight and don't sell - this will come good eventually

I agree. It could drop to the 30p area before there is a rapid bounce. So I have a core holding just in case it all comes good but will be looking for a buying opportunity is Fortuna is written off. After that it looks like clear blue sky and the real value should become much clearer!

Thanks for the info. I was wondering why the sudden drop late yesterday. I just wish we could get Fortuna out of the way one way or the other! When that is out of the way there is a decent company waiting to move forward.

At the half year Ophir had net assets of $1087m. Write off the outstanding $300m for Fortuna and you have assets of $787m or 605 million pounds - twice the current market cap. Crazy!

London-listed Ophir Energy has begun operations on the Paus Biru-1 exploration well in the Sampang PSC offshore Indonesia.

The Sampang PSC is operated by Ophir Energy’s subsidiary Santos Sampang Pty Ltd with a 45% interest. The partners are Singapore Petroleum Sampang Ltd with 40% and Cue Energy’s subsidiary Cue Sampang Pty Ltd with 15%.

Cue Energy, a partner in the project, said on Friday that the work on the Paus Biru-1 well began on Thursday, October 18, with the installation of a 30-inch conductor.

From Arteesresso on another Board

https://www.google.co.uk/amp/s/www.marketscreener.com/amp/CUE-ENERGY-RESOURCES-LIMI-6864849/news/Cue-Energy-Resources-Paus-Biru-1-Exploration-Well-Primary-Objective-Logging-27544986/

Paus Biru-1 Exploration Well Primary Objective

Logging

• Paus Biru -1 exploration well reached TD at measured depth 710m

• Elevated gas readings were observed through the primary objective Mundu Formation

• Positive indications of reservoir and hydrocarbon on LWD logs

• Wireline Formation Testing Logging program has commenced

Melbourne, Australia 5 November 2018: Cue Energy Resources Limited (ASX:CUE), through its 100% owned subsidiary Cue Sampang Pty Ltd, advises that the Paus Biru-1 exploration well in the Sampang PSC, Indonesia, reached TD of 710mMD at 2230hrs (local time) 3 November 2018. The planned TD was extended during drilling due to formation observations.

Elevated gas readings were encountered through the Primary target Mundu Formation. Following preliminary interpretation of the logging while drilling, a full suite of wireline logs including formation wireline testing, which obtains formation pressures and fluid samples, will be run to further assess the interval. Data obtained will help establish the fluid content, hydrocarbon columns and hydrocarbon saturation of possible reservoir intervals encountered, and to an extent, the permeability and producibility of these zones.

Biggest trade volume in over two years. A lot of stock changing hands - whether it is good news or bad we know not.. The price ends down but I suspect it is being held within a range. Time will tell