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New KOTB : “Given they have declared their position one could assume, for the time being at least, they are done selling !!!” ————— NKOTB That would be a wrong assumption! They declared their position not because they have decided to stop selling but because they were legally forced to do so when they crossed the 3% threshold! The problem now is that they own around 2.9% which they don’t need to inform us about! So they could sell the remaining 20 million shares without telling the market ! Watch for the size of trades for confirmation

Oil head game I’m slightly worried but not losing sleep yet! I will continue to monitor the situation closely and if other institutional investors head for the exits, I will follow ! These guys probably have OPHR management on speed dial and know more than I or any other PI ever will ! Thanks for the advice thought ! PS: I will continue to assess, analyse and post my projections and concerns (if that’s Okay with you)

Don’t know why they would sell when so much is expected !!!! Makes me slightly uneasy ! Hope they don’t know something we don’t !

Sailing stone capital partners LLC were selling that’s why we dropped so low a few days ago ! They sold almost 7 million shares ! Explains a lot ! But it appears as though they were drip feeding !

Agree Bert !! I hole heartedly believe FPM will not be around in 4-6 months time ! Shame because this is one of the best run oilies I own shares in! I just hope DNO don’t try to screw us with their offer!

Yep it’s on the cards IMO! DNO have made the first move and FPM Directors are on check! Your move Boss!!

No worries SBB! Yes the tiny sells are what frustrates me! If this was tanking due to 5% of the shares being traded then it would be a real problem! Volume is very weak at the moment. I think this is mainly PIs selling because they have had enough (and who can blame them?)!!!! The company needs to take a long hard look at its communications strategy

Tdante Its a though decision! I was considering the same thing today when it hit 36.9. I thought 40ish would be bottom I was badly mistaken. I decided against selling in case the company pulls a rabbit out of a hat and announces something unexpected regarding Block R / Fortuna or Tanzania ... you never know! I do however get the feeling that with OPHR there will always be an entry point! It’s not known for going up 100% in day lol!

38p gone and now 37p gone ! Trades going through at 36.95!! Just to think I topped up late last week at 41p!!!! This company has lost 10% of it’s value in just 5 days !!! At this rate it’ll be at 30 p in less than 2 weeks and 20p by the end of September!! I’m just gobsmacked!

That’s exactly how I see it tdante! Big boys / other oil cos are probably lurking in the wings waiting for the inevitable to happen before they can pounce ! IMO even if we lose the license the share will jump after the steep fall because the rest of the assets warrant more than the current share price

Caller one I completely agree ! I have mentally written off both Fortuna and Tanzania! I’m here for the production assets and Santos acquisition! I honestly thought 40p Would be a floor! Will average down if it hits low 30s! With this share anything is possible !! If you said to me a few years ago that Ophir would be less than 100p I would have said you’re mad!!!!

Luck counts When you take off Fortuna, you lose almost half of the 2017 net assets because ex cash, the assets were around 1.3b! Fortuna alone was 604mil!! I think that’s why the market is scared ! Still cheap I know but ....

THe more I analyse the situation, the more I think we need to get rid of block R one way or another before the markets will take us seriously! I think people are scared to buy at the moment due to the huge carrying value of block R in case it has to be written off! That will be a write down of $604 million !!!!!!!!!!!!!!!!!!!! Let that sink in!!!!!!!!!!!!!!

Caller one I hope you’re right! In practical terms selling Fortuna now is much more difficult than sourcing funding ! Why would a purchaser pay Ophir tens or hundreds of millions to take it off them when they can get it from the government of EG for free in January! I think our best hope is securing funding and getting an extension from the EG government!

Dear Mike I assume you are fairly new to investing so I’ll be nice ! We know about market caps and we know that RRE has a very low MC! Don’t insult intelligence by insinuating that we don’t know the difference between share price and market cap!! We also know how to value companies based on a wide range of metrics ! Based on projected 2018 revenues and EBITDA , RRE is very very cheap ! However based on balance sheet, assets and liabilities there are a lot of questions to be answered ! Unfortunately this company seems to be alergic to providing clear information in the form of presentations or video interviews! Very difficult to invest if they don’t improve investor comms ! That’s my point !

Sorry thy response was to SBB1

Dave If you are into technicals this isn’t currently one you’d touch with a barge pole! I’m buying it as a recovery play based purely on fundamentals! To answer your question though, the rsi is currently in the mid teens (well into OVERSOLD territory)! However the current share price is currently below every single moving average and at an all time historic low- so from a technical perspective, it’s a don’t buy / wait and see I’m afraid !

Absolutely flabbergasted! It just non stop red days ! There doesn’t even seem to be a dead cat bounce ! Never seen something go so far against fundamentals! Although I’d hate to think what would happen if/ when EG grab back bock R! This company has me stumped! The share price makes no sense whatsoever Unless they are hiding something we don’t know about !

It’s almost as if RRE don’t want investors to buy shares lol !! Are ther any video discussions with management ?

Mike I am very aware of the advantages and drawbacks of small caps ! But inot every small cap suffers the lack of liquidity that RRE suffers from ! I can’t even seem to find company presentations to dig into this company more ! Do you have a link to presentations ? I have read the annual report which is meangliss because the company has changed a lot in the past 9 months ! I have read the RNSs but as mentioned some of them are very vague!