Dominion Pet Share Discussion Threads

[oiht] 13/10/2011 11:58

Just sold entire DPL holding. Bought in at 3.8p a few months ago so a tidy profit on the table. May buy back in if the takeover fails. GLA.

[crosswire] 13/10/2011 10:38

OPHR will be blue by this pm!!

[77monty] 13/10/2011 10:37

I feel split about this. In the current climate its good to end up with a profit. On the other hand I feel like someone has just nicked my wallet but left me a tenner.

Happy to hold shares in the new company and you never know, we might get a counter bid.

[crosswire] 13/10/2011 10:12

Ophir Energy buys Dominion Petroleum for £120m
Thu 13 Oct 2011

OPHR - Ophir Energy

Latest Prices
Name Price %
Ophir Energy 226.10p -6.65%
Dominion Petroleum Ltd. (DI) 5.13p +42.50%

FTSE 250 10,294 -0.25%
FTSE 350 2,858 -0.55%
FTSE AIM All-Share 712 -0.05%
FTSE All-Share 2,794 -0.55%
Oil & Gas Producers 7,821 -0.72%


LONDON (SHARECAST) - Oil group Ophir Energy is to snap up smaller rival Dominion for about £120m as it seeks to beef up its East African operations.

The two companies have agreed an offer valuing each Dominion share at 5.9p.

"The proposed combination of assets provides Dominion's shareholders with an opportunity to be invested in the pre-eminent deepwater explorer in East Africa, one of the world's most exciting exploration plays," said Dominion chairman Roger Cagle.

"The exposure to Ophir's existing discoveries in Tanzania would de-risk the combined portfolio while maintaining significant upside exposure for both companies' shareholders."

Ophir chief executive Nick Cooper said: "The addition of Dominion's assets to our portfolio positions Ophir as the largest independent net deepwater acreage holder in East Africa with a portfolio of seven offshore blocks at high equity levels in highly prospective acreage offshore Tanzania and Kenya. There are significant potential geological, operational and commercial synergies in bringing these portfolios together and we are confident that the combined group will maximise value for shareholders from the exciting position we will command."

[philo124] 13/10/2011 09:57

Yes, BG might be interested.

[binladin] 13/10/2011 09:56

offers dont usually materalise......

[bones30] 13/10/2011 09:52

LAMMERGEIER - absolutely my point. This could turn into an EO. situation, esp. with all the blue chips on the share register.

[lammergeier] 13/10/2011 09:51

When Dpl were around 6-7p i'm sure the board announced they had rejected several non premium approaches so there may be a bit more upside as the current offer started from such a low base.BG has deep pockets and may well be interested.

[rayrac] 13/10/2011 09:44

encarter

Gas off Namibia? Where did you get that from?

[bones30] 13/10/2011 09:43

Perhaps because of recent strikes in the vicinity?

[excellance] 13/10/2011 09:39

i wonder if there is any significance in the timing of this deal?

why now?

[offerman] 13/10/2011 09:37

Just to add to earlier post, at8 also flowing 1100bcopd as well as 38mmcfgpd

[encarter] 13/10/2011 09:35

The problem for TRP is that their partner Arcadia has got cold feet and is trying to dump a large slice of the license on another operator.

[excellance] 13/10/2011 09:21

i don't consider the TRP Uganda assets to be good, but the offshore Namibia assets looks very exciting if it can be unlocked.

[seismick] 13/10/2011 09:19

Have a look at TXO.
About to drill back to back wells in Tasmania after deal with Empire Energy.
Mkt Cap GBP1.7m/ 0.65p.


These wells targeting huge structures at Bellevue talked about in 2009 have been delayed but are now due to be spudded in Tasmania spring which is now their season.

[daz181] 13/10/2011 09:18

OPHIR Recovering and so it should as their getting a corker of a deal.. Broker Targets for DPL were 10p at the start of the week ffs

d.

[encarter] 13/10/2011 09:18

No one would touch TRP. Their Uganda block is dry and at best they have gas in Namibia which I doubt will ever be drilled. Regarding DPL, they only have 27% acceptance so this deal will hopefully go the way of the last deal.

[excellance] 13/10/2011 09:13

TRP looks cheap also, and could be next one to be snapped up by OPHR...

[bones30] 13/10/2011 09:10

Yes, remind me exactly what DPL has achieved this year?

Because of all the fannying around sentiment has tanked this. So +40% is still hardly fair value for the licence at this point.

I'm wondering if what happened with EO. may happen here, i.e. the DPL and OPHR share prices creep up slowly as the market realises this (i.e. the value of Block 7, and the fact DPL was too cheap in the first place). Shame it wasn't structured in the same way with shareholders being offered the possibility of cash.

There is always the change of a counter-offer too.

Given where DPL was before the MOG thing, you may think OPHR share price would factor in the value of the licence, particularly given they aren't struggling for funding, and the perception of quality of their management team.

On balance I think I shall hold a little longer.

[gopher] 13/10/2011 09:09

Not generous but then the Company isn't funded to explore its prospects and on this basis Ophir is proabably a good way forward. Ophir is down this morning indicating they perhaps haven't stolen a gem

[oilbuy] 13/10/2011 09:09

another example of the management thinking only of themselves . its a give away ! 2 years waiting on nothing and probably the best licence in east africa ( block 7)

[bones30] 13/10/2011 09:07

Offerman - might just do that.

Deciding what to do here currently. OPHR shares may be quite attractive. This seems quite a good deal.

Just doing the maths now.

[offerman] 13/10/2011 09:02

O/T
Take you`re money guys and invest in pci, why?

-enel deal signed and awaiting ratification, enel paying pci 183M$ for 18%
-at8 well flowed 38mmcfgpd but could flow 50mcfgpd with wider bore.
-new F.I partner being line up 2012, several majors in talks with pci.
-Gas field of most probable 10tcf 38% recoverable low end 60% high end.
-20%investment in Kurdistan block not far from Shaikan, Joint partner with hess
-Italian assets could total 900mbo
-share price doesn`t even match the capital that enel are investing, share price indicates kurd, algeria,italy all worth nothing.
-1st class quality directors.
-Many Instis invested.
Just a few pointers and as always DYOR and best of luck whatever you invest in.

[philo124] 13/10/2011 08:58

Could be. I bought some OPHR this am & will wait on my 100k DPL.

[excellance] 13/10/2011 08:55

i cant understand why the OPHR share price would fall in response to this deal, after all they are paying with shares and only a little cash, and the deal is a good one for both.

for DPL holders the risk profile is significantly reduced, while OPHR holders get another potentially great license which fits nicely into the existing portfolio.

has the OPHR share price been pumped up by the market in anticipation of this deal over recent days?

has the DPL share price been shorted to make a deal look juicy?