Ophir Energy Share Discussion Threads

[seball] 04/5/2016 13:21

Drop over done here. Can see this bouncing back to 80p quickly

[fsawatcher] 04/5/2016 09:59

this in shorters hands now

market lookin overbought

this go down to low 60's coz (im out and want it lower ha ha ha)

market sellin in may

i reemember the buy backs , that seem stupid thing to do now dont it but it did keep share price high and shorters away

not much good now

[ed 123] 04/5/2016 08:43

Yes, jotoha2, they misread the market, caught out, gambling unnecessarily with shareholders' funds.

Also, the cash they used up on the buybacks they now realise they should have held on to. They do not have sufficient funds of their own to bring Fortuna into production and must virtually give away (calculated to include back costs to date) a part of that project. How clever was that?!!!

[jotoha2] 04/5/2016 08:15

These guys know about oil and gas, but not to clever at managing , last year they were buying shedloads of their own shares at £1.50+ , net result ...millions down the plughole.

[ohisay] 04/5/2016 08:13

OPHR slid 5.9 per cent to 70.9p. Investec Securities downgraded to “neutral” in response to Friday’s news that Schlumberger had pulled out of a deal to buy a stake in its gas project off Equatorial Guinea. “If it wasn’t good enough for Schlumberger, then it can’t be good enough for us,” Investec said.

[cumnor] 03/5/2016 22:06

The issue here was Schlumberger, not Ophir. Could not justify proceeding given their dire results. Ophr right not to accept on any terms as they do not need them. There will be plenty of suitors coming up and I will buy more OPHR in 60s.

[orinocor] 03/5/2016 21:52

the salamander acquisition was a poor deal

[ed 123] 03/5/2016 21:38

Management know what they doing - in fact they are one of the best in the field IMHO.

Nick Cooper arrived at Ophir in 2011 with the share price about 250p. In 2012 Ophir made a big gas discovery and again in 2014. Today's share price? ......... 71p! Where would Ophir be now if it hadn't got lucky and discovered all that gas?

I wouldn't call that, "best in the field" or anything like it.

On top of that, Nick Cooper is reported to have received total calculated compensation in 2015 of £1,570,000.



To investors, the share price performance (and dividend payments) are what matters.

[badday] 03/5/2016 20:16

AGM next week. Perhaps a little more colour on the news then?

[nigelpm] 03/5/2016 20:14

Management know what they doing - in fact they are one of the best in the field IMHO.

The sale of 20% of Pavillon for $1.2bn was inspired so they deserve plenty of credit for that.

Only mistake they've made to my mind is being reliant on a tumbling oil and NG price.

Take a look at the recent results - plenty of positives in there.

Not much they could go against falling commodity prices really - but with cash in hand and cash flow coming in from SMDR acquisition they are in a far better position than most.

The biggest risk here is someone buying them up on the cheap really which is not out of the question.

[pineapple1] 03/5/2016 18:53

Spooky...A recipe for no success is averaging down on losing positions something i do not do.Shares getting cheaper do not make me even more correct the cheaper they get. I will not add further new funds here. I only add to winners.
My risk is reduced but i,m still in with a chance of recouping some losses over time if my analysis is wrong which of course it may well be. If i,m correct i can buy back what i sold at a much lower level to lower my original entry point and hope for better times.But absolutely no new funds will be committed.If it rises i get some upside though much less of course.
A share does not lose 90% of its value if things are going swimmingly well and OPHR has performed terribly compared even to some heavily indebted companies.
Very dissapointing
You must believe that things look rosy. I hope you are correct.
imho

[spooky] 03/5/2016 18:03

pineapple1 - Holding onto shares when you are negative on the company isn't exactly a recipe for success, but i'm sure you already know that.

[pineapple1] 03/5/2016 17:11

Good news is never delayed. All data is available.No current takers.
imho

[ziblot] 03/5/2016 17:08

Ophir today also revealed that the final investment decision for the Fortuna FLNG development would be postponed for the fourth quarter of 2016, and won’t be made in mid-2016 as previously reported. First gas can now be expected in early 2020.The joint statement further revealed that Golar would independently continue to work with Ophir with the target to reach an FID for the Fortuna development this year.

[pineapple1] 03/5/2016 16:24

?????.....what. I said in the earlier post i sold 50%.
I can't discount totally that i,m wrong which is why i still hold some.But hope is never a good investemnt strategy and thats all i see here.
But if you are mega bullish and think this the bottom then get stuck in and keep buying..
Perhaps you can tell me what you see thats positive in this O@G environment that makes this compelling at this valuation. If Schlumberger thought this an odds on money making banker they would have come up with the cash rather than walking.
imho

[spooky] 03/5/2016 16:20

Just confused about why you would still own shares when you are so negative.

[pineapple1] 03/5/2016 16:09

spooky....i,m not the type of poster who will try to say everything looks rosy just because i hold. Many posters try to paint a brave face for reasons you'll probably guess.
I originally sold at £1.68 on a chart pattern (look back at the peak and its listed in my posts if you have time to waste...lol) and bought them back at £1.08.
Things looked better then but the news on Friday has changed my veiws totally.
If you are looking for me to say this will multi bag,great prospect etc them i'm afraid i won't.I'll be happy to get out at B/E at some future point. Other oilers have far better prospects. This is a survivor but thats about it.
A high volume decline tells me that its the real deal....
imho

[spooky] 03/5/2016 15:52

pineapple1 - After reading your post i am amazed that you ever had a holding, why would you ever want to own the shares with the view that you have?

[pineapple1] 03/5/2016 15:44

The Fortuna project will i suspect be shelved under current conditions. Why would anyone pony up such large sums of money for such slim, if any margins. OPHR projects are weak and i would not be surprised to see this trading in the low 50's with even cash on the balance sheet discounted at some point.
I sold 50% of my holding on Friday. Hopefully i'll buy them back (not add more cash as a recipe for disaster .No way on this dog) at a lower price to try to average them down with a very slim chance to escape at B/E in a few yrs. Overvalued curently at £500m by some way.Only hope is a big discovery or much higher gas prices the later being highly unlikely...
Management will continue on the gravy train of course..
imho

[orinocor] 03/5/2016 15:23

There has to be a big question mark over Fortuna now.
Schlumberger walked away AFTER due diligence.
It sounds like OPHR are trying to put a brave face on things by saying there are other interested parties, but they would say that of course.

[mrs robinson] 03/5/2016 14:05

Also added

[zcaprd7] 03/5/2016 14:02

Topped up today...

[ziblot] 03/5/2016 13:54

Malcy's blog

Things go from bad to worse for Ophir who announced last week that following completion of due diligence, Schlumberger was to terminate their agreement re the Fortuna FLNG project. Ophir state that the project ‘still represents a technically and financially attractive prospect for Ophir and its shareholders’ and that other parties are in the wings. With capex having fallen from around $600m to $450-500m and with a number of potential off-takers around they remain confident…

[swerves1] 03/5/2016 12:29

Not today!