Ophir Energy Share Discussion Threads

[sporazene2] 18/5/2018 07:59

major shareholders selling down in recent months/weeks and the EG government coming out in the press earlier this week were the straws that broke the camel's back IMHO. Cooper stealing a living for years

[nigelpm] 18/5/2018 07:50

It puts the for sale sign up and that is important.

[dunderheed] 18/5/2018 07:48

4059 Not saying that at all. Just saying I'm personally surprised that all the supposition about NC appears correct.
I thought he would have done something or really should have gone (a lot) earlier?
Whilst an obviously misguided supporter of Cooper (!) I was just saying be careful what you wish for because the 'abrupt' departure (even though for a lot of people writing on wall for a long time) implies there ain't no chance of funding for a little while?
However AB is excellent, so yes probably quite a positive reaction looking ahead?!

[fangorn2] 18/5/2018 07:46

@Beergut,

Encore was sold on the cheap at the time I hazily recall but yes, everyone salivating at the thought of Ophir takeover now.

[jotoha2] 18/5/2018 07:40

Job done , now lets move on and get that pesky financing sorted.

[imjustdandy] 18/5/2018 07:38

Too late to de ramp dunderhead. This will be very well received by the market. Nick has brought the share price down from £4.40 to 50p. Market will receive this very well and don't be surprised if we are approached now. Common sense really not a negative in the slightest

[dunderheed] 18/5/2018 07:30

4056 Agree totally mate. Got to admit was surprised at this as I 'felt' a cat was going to be pulled out of the bag.
Unfortunately it looks like a damp squib is being pulled out of the bag.

[beergut] 18/5/2018 07:30

Mr Alan Booth who is stepping in and must be liked in the city as it looks like everything he has touched has gone up in price and then been sold. So made a lot of money for a lot of people.

We will know in 30 minutes.

[imjustdandy] 18/5/2018 07:28

Watch the share price go today. The market price will soon tell you dunderhead.

[dunderheed] 18/5/2018 07:24

I'm not so sure. I think this confirms funding not going well and why would this increase likelihood of take over now?

[imjustdandy] 18/5/2018 07:21

We should now be on takeover Alert.

[nigelpm] 18/5/2018 07:17

Indeed. Expect the market will like this a alot.

[imjustdandy] 18/5/2018 07:16

Big hitter to be appointed now. Here we go. Brakes are off at last

[nigelpm] 18/5/2018 07:14

Makes sense. Market confidence was completely burned in him.

[speedsgh] 18/5/2018 07:14

Inference = The company is not close to finalising Fortuna funding and major shareholders and stakeholders in the Fortuna project had lost all faith in Cooper's ability to bring the funding to a successful conclusion. Aimho

[speedsgh] 18/5/2018 07:10

Nick Cooper to Step Down as CEO -

The Board of Ophir (the "Board") announces that, by mutual agreement, Dr Nicholas (Nick) Cooper the current Chief Executive Officer and Executive Director, has stepped down from the Board with immediate effect. Nick will remain an employee of the Company at this time and will be leaving the Company after a short handover period. Mr Alan Booth, currently a non-executive director of the Company, has been appointed as Interim Chief Executive Officer and Executive Director, until a new Chief Executive Officer is appointed.

Nick's achievements while Chief Executive Officer have been considerable and include leading the Company through a successful IPO in 2011, realising value through selling part of its interest in Tanzania in 2013, the acquisition of Salamander in 2015 and, most recently, the proposed acquisition of Santos' South East Asian assets. Under Nick's leadership, the Company has evolved from being a frontier deepwater explorer to a financially strong business supported by a robust production base.

This decision to appoint a new Chief Executive Officer reflects the Company's ongoing move to rebalance its portfolio towards a larger production and cash flow base, to support more focussed and sustainable exploration activity.

The recently announced Santos acquisition is an important step in this direction. The Board will strengthen management operational capabilities to deliver this strategy, alongside continuing its plans to realise value from Ophir's substantial discovered gas resources. The Board continues to focus on realising value for shareholders from the Fortuna Project, and will continue to work with the Government of Equatorial Guinea to develop this important resource.

Commenting, Bill Schrader, Chairman of Ophir, said:

"On behalf of the Board, I would like to thank Nick very much for his service to the Company. Nick was appointed CEO in 2011 when Ophir was a frontier explorer. Today, we have a production-focussed business model, exemplified by the proposed Santos transaction. This positions the company well for the future and provides a great platform to Nick's successor. We wish Nick all the very best for the future. In Alan Booth, we have an excellent Interim CEO with the relevant operational experience."

Nick Cooper said:

"I have thoroughly enjoyed my seven years at Ophir and am proud of what we have achieved together. Ophir has transformed from a high risk, frontier explorer to a sustainable, balanced, upstream company. A solid platform has been built for new leadership to take the Company forward. I wish the staff, Board and shareholders of Ophir all the very best for the future."

[dunderheed] 18/5/2018 07:07

Blimey what can we infer about the lng funding after this?

[dplewis1] 18/5/2018 07:05

Wow..Cooper gone

[romeike] 17/5/2018 14:23

Total's multi-billion dollar gas project with Iran now looks very unlikely. Was this gas included in future supply forecasts?

[arteespresso] 17/5/2018 11:32

True ref gas, however the lull in share price is more to do with lack of monitising discoveries, and perhaps the confidence in the direction of the company.

[zcaprd7] 17/5/2018 10:53

Did the Chinese lenders walk away, I thought it was the other way around?