Ophir Energy Share Discussion Threads

[3waysout] 22/5/2018 08:54

The Fortuna economics still make sense but you need the right counterparties around the table that can reduce all the risks involved. NewAge and Bvln appear to be going about it the right way with a new build concept backed by investors with pocket of capital. Nick lost market credibility and the EG govt lost hope in the same promises he was making to them. Too bad as given now that the HiliEsp has loaded first cargo in Cameroon the stars were beginning to align for this development plan. I wonder if a Bvln Ophir consolidation makes sense.

[romeike] 21/5/2018 16:39

At least NC's wife can stop pestering him now.

[romeike] 21/5/2018 16:35

"To me that reads as if they have been talking to candidates and have made a decision" - that would fit with the fact they have already announced that NC will stay on only so long as to provide a short handover - how else could they know already that the handover will be short?

[ohisay] 21/5/2018 16:19

Why they ever got rid of Bill Higgs last year is a total mystery - such a super competent guy especially on LNG -on his left is his excellency who these days is probably thinking the same.

PS He joined Genel just 3 months after being sacked.They knew how good he was.

Now Coopers gone you do have the sense they really have lost their way and would just like some cash in the bank from a Fortuna sale.

As others have said they are effectively distressed sellers of Fortuna - my estimate circa 250m$/300m$ for sale - so much less than market expectations but worth 1£ on the share price post sale and an easy life for Directors.

[zcaprd7] 21/5/2018 14:54

I think it was the comments from the politician that forced the chairman's hand...

[wbodger] 21/5/2018 13:51

Booth will see this through to a clean sale/takeover. Could be.

I'm struck by the sudden announcement with immediate effect, replaced temporarily by a long-time NED. To me that reads as if they have been talking to candidates and have made a decision, and need time for the person to clear his desk. Booth is a safe pair of hands but if he were in the frame they would have announced him as permanent.

I'd forgotten Booth had Buzzard in his CV, Buzzard plus Catcher is good exploration genes, but probably not what IIs want at this point.

If they are soldiering on they need someone who can get Fortuna financed or sold, and who has that prominently in his CV. (Jake Ulrich late of Sterling Resources?)

[ohisay] 21/5/2018 13:33

Ophir is a strange beast - there's no Oil co quite like it and very difficult to value.
Its not so easy to see who exactly might want the whole caboodle.
Big oil or something like it (NOC ?) would naturally want the African east coast/west coast gas but are just going to regard the rest of the new portfolio as an irrelevance and want to sell unless they could easily assimilate the asian assets.

To me only a big Chinese company fits that bill .
I think more likely a single deal to sell Fortuna.
I added at 63p - I think its an intriguing play .

[imjustdandy] 21/5/2018 13:17

There won't be a new CEO. Booth will see this through to a clean sale/takeover.

[romeike] 21/5/2018 12:54

Nothing to stop Alan Booth taking over on a permanent basis if he wants the job. I suspect this will get bought out at a price that will at least Salamander holders recoup most of their cash or else profit if they have bought in to Ophir at the lows.

[jotoha2] 21/5/2018 09:33

imjustdandy , by selling Tanzania , even at around £600 million , will do wonders for the share price , come on Tony you know it's the right thing to do.

[wilksey1] 21/5/2018 09:03

70p before 10 at this rate keep on going baby

[imjustdandy] 20/5/2018 16:19

Not sure they have the time or the luxury. Hostile takeover looks certain.

[hpcg] 20/5/2018 15:16

1. Sell company.

[jotoha2] 19/5/2018 19:59

5 Actions required by Tony Booth

Appoint a new CEO with some charisma and is well respected in the city .

Look at selling Tanzania pronto

Look at completing finance for Fortuna pronto

Dump the proposed buying of old assets

Bring forward drilling in Mexico , or farm out to Premier oil .

[dunderheed] 18/5/2018 22:32

Reserved for Saul

[imjustdandy] 18/5/2018 21:26

Got to look forward now. New CEO and possibly hostile takeover

[loglorry1] 18/5/2018 17:20

Well Nigel I doubt FRR would continue paying him if he reported what he really thinks of them. Either that or he is a total idiot either way is there any point paying any attention to what he has to offer?

[nigelpm] 18/5/2018 17:00

The more pertinent question I have is not whether he is paid - I suspect that's almost a given and have never really thought that was in doubt and actually don't have a major problem with it as long as he discloses it.

My real question is does he get paid to divert from his genuine views (which might be him being naive/too bullish) or not - I can't really judge that. However as has been pointed out to me his views on FRR have been incredibly gullible and naive if he isn't a pump and dump merchant.

[dunderheed] 18/5/2018 16:49

He definitely isn't paid by all companies. I worked for one he covered and I know he wasn't paid and whether he is particularly respected by mgt teams of oil companies is another thing as well LOL.

[nigelpm] 18/5/2018 16:43

Go on - ee - interested in your view on this.

[emptyend] 18/5/2018 15:20

...err....no he isn't Nigel

[romeike] 18/5/2018 14:16

Yeah, now is not the time to be flunking out on LNG projects or disposing of them cut price.