Salamander Energy Share Discussion Threads

[ed 123] 06/2/2015 12:15

"... the Ophir General Meeting will be held on 6 February 2015 at 11 a.m. at the offices of Linklaters LLP ..."

Maybe the attendees had a lot of questions ........ hence delayed result?

[nigelpm] 06/2/2015 12:10

Doesn't it start at 1pm?

[ed 123] 06/2/2015 11:38

Can it be so close?

Any posters in the room, live?

What's happening?

[ed 123] 06/2/2015 11:15

They're taking their time!

[loglorry1] 06/2/2015 11:11

click click click the sound of nails being bitten.

[nigelpm] 06/2/2015 09:45

thanks, I assumed it would be. As you say won't be an opportunity to trade but worth having it in mind.

[loglorry1] 06/2/2015 09:22

usually immediate but it won't matter as the price will move the instant it is announced at the meeting assuming someone there has a mobile phone :-)

[nigelpm] 06/2/2015 09:10

Just wondering on potential release times for RNS? Any thoughts?

[loglorry1] 06/2/2015 08:30

OPHR vote on all share bid at for OPHR:SMDR at 0.5719:1 today at 11am. SMDR trades about 7% discount to implied merger price now.

SMDR vote at 1.15pm today

[loglorry1] 05/2/2015 19:46

Ummmm I do tend to agree hard to game.

[nigelpm] 05/2/2015 17:37

risk/reward says to sell before vote even if you just buy back OPHR after the vote goes though that makes most sense.

Disagree. Price might rise on deal and there's so much volatility in the POO right now that you could easily miss out.

In other words I've no idea so I'll do nothing.

[pineapple1] 05/2/2015 17:03

Well if thats the logical outcome the opposite will happen as it generally does.
I,m going long OPHR if you all think its going to fall......lol

[loglorry1] 05/2/2015 16:48

risk/reward says to sell before vote even if you just buy back OPHR after the vote goes though that makes most sense.

[nigelpm] 05/2/2015 16:40

I'm doing nothing - been here for ages and still slightly underweight on my main SMDR position anyway.

[loglorry1] 05/2/2015 16:26

I'd give it 85-90% - tempted to hold over vote but still wavering as disc not much. If deal goes through OPHR could drop more than 5% meaning selling now and buying OPHR risk free and cash neutral strategy.

Likely I'll just be a lazoid though :-)

[nigelpm] 05/2/2015 16:07

Very happy that this one looks to have come off nicely.

The 18% arb was beyond belief but I guess given the collapse in POO with hindsight was just mr market thinking the deal would fail.

Reckon the market "knows" the deal is on.

[loglorry1] 05/2/2015 15:50

Vote tomorrow. Discount to OPHR implied price only 5% - do we hold through the vote or take the money now. If vote passed OPHR may drop more than 5% anyway!

[speedsgh] 03/2/2015 14:42

I would suggest selling them as fast as you can then :o)

[tiswas] 03/2/2015 12:58

Blimey, I am in profit on my SMDR shares!

[lestat102] 28/1/2015 17:45

Guys,

Is this trading about right as the offer is 0.57 Ophir shares for each Salamander share? I make that about 74p?

[christmasworker] 21/1/2015 19:22

Good one alongside SIA, TLW

[nigelpm] 16/1/2015 16:10

This definitely goes through if SMDR want it.




In light of the current period of oil price volatility, our strong cash position and our track record, the Company sees a variety of opportunities to act counter cyclically and add other exploration acreage and producing barrels to the portfolio and in addition to the proposed acquisition of Salamander, intends to continue to consider and discuss further acquisitions and disposals and the associated opportunities within the industry.

[nigelpm] 15/1/2015 15:49

Well, it's off for now.

In the literal sense yes but I read it as being postponed pending the OPHR deal.

Presuambly though, SONA would negotiate a lower price if OPHR walked away.

If OPHR don't walk they might offer the original price.

[plutonian] 15/1/2015 15:26

Salamander is mostly gas, with long term gas price agreements in place. Surely, the more the oil price drops the more attractive the deal becomes to Ophir.

I would have prefered to stay independent and do the SONA deal. However, I guess that the SONA deal will be pulled anyway and we are then stuck for cash. Any fundraising would be devastating in the current climate, so we are stuffed.

[tiswas] 15/1/2015 15:21

Well, it's off for now.

SONA Transaction

In light of the recommendation of the Salamander Directors to vote in favour of the Ophir Offer, Salamander and Sona Petroleum Berhad ("SONA") intend to terminate by mutual agreement the previously announced Sale and Purchase Agreement in respect of an effective 40% interest in the Greater Bualuang Area. Once terminated with the consent of Ophir, such termination will satisfy the SONA condition to the Ophir Offer. Salamander notes that in SONA's press release to its shareholders, SONA states that it remains interested in acquiring a stake in the Greater Bualuang Area and intends to approach either Ophir or Salamander regarding a revised transaction post their respective shareholder meetings on 6 February 2015.