Ophir Energy Share Discussion Threads

[jotoha2] 16/7/2018 17:41

I think you should be the last person telling people to invest here , remember you pushing this very hard when it was in the £1 to £1.30 range , ouch!!

[nigelpm] 16/7/2018 11:03

Regrettably it is too late to appease Sailing Stone. Some of this should have been done last year.

In full agreement - the only good thing here is if you weren't already invested now is a particularly good opportunity to invest as SailingStone have driven the price to these levels.

[wbodger] 16/7/2018 10:56

They can't let Fortuna drift, Booth will do what has to be done one way or the other, and we're in H2 now. IMO he will have to make solid progress on it before the EGM for the Santos acquisitions, or will have to firm up the write down.

I trust him from past experience if he says they are making progress (more than I would have trusted his predecessor). "We continued active discussions on partnering and financing of our Fortuna FLNG project with credible and well-financed third parties."

Regrettably it is too late to appease Sailing Stone. Some of this should have been done last year.

[jotoha2] 16/7/2018 09:44

They have tried to be honest with their last update , looks like finance is a no goer , but you never know with these so called BOD , they may yet surprise to the upside , don't hold your breath.

[ziblot] 15/7/2018 15:57

Always appreciated Wbodgers comments/wisdom but still believe a deal will be done on Fortuna.

[nigelpm] 13/7/2018 10:38

Highly likely I'd agree unless they have concluded a deal by then or are literally ready to sign one. Not that the impairment matters of course - balance sheet is way above current market cap.

[wbodger] 13/7/2018 10:17

preparing the ground for a write-down in value That seems clear, and they wouldn't do that if they were close to a deal. There is a chance they might get another extension, although the market would not be impressed without clear progress on financing as well (kicking the can down the road).

I looked at the wording of the search for a CEO. a number of highly experienced and qualified external candidates have been identified.
For me, it would have to be someone better than Alan Booth, otherwise he would be acceptable. He is organised and pragmatic - this Update is a good start.

The way I see it, if they go for someone external they will write down Fortuna before he starts. They might write it down anyway, but I don't think Booth will want it as an anchor.

[speedsgh] 13/7/2018 08:14

@jotoha2 - "... may need to be reassessed as part of our interim reporting process."

Half year ended on 30/6/18. Interims were released on 14/9 last year. I suspect that there is unlikely to be any material change in the funding status of Fortuna by the time they come to release their interims in Sept. My interpretation of the excerpt was therefore that they are preparing the ground for a write-down in value. AIMHO

[cumnor] 12/7/2018 22:29

Both.....trading update anything but inspiring.

[jotoha2] 12/7/2018 22:22

So what does that mean in terms of accounting speak , are they talking about a downgrade in valuation or an increase in valuation if financing comes good.

[speedsgh] 12/7/2018 12:37

From today's Trading Statement...

"The Block R licence (which contains the Fortuna gas discovery) is due to expire at the end of 2018. As already mentioned, we are in active discussions to secure a partner and the status of the financing and timing of FID will become clear in the coming months. Depending on how these discussions progress, the carrying value of the Block R licence ($604 million as at 31 Dec 2017) may need to be reassessed as part of our interim reporting process."

[romeike] 12/7/2018 11:21

If a deal is to be done on Fortuna they are running out of time. That does though put a sense of urgency for lenders too because if the license is handed over to someone else the lenders may very well lose the opportunity to lend.

[jotoha2] 12/7/2018 08:05

Good honest presentation , some interesting projects on the horizon , will hold for medium term !

[ziblot] 11/7/2018 16:53

Good long term share. We know whats went on in the past. Santos will complete and a deal will be done for Fortuna; otherwise I wouldn't be here.

[jotoha2] 11/7/2018 09:14

Only on positive news , otherwise it's back to 40p and maybe even below that level , worst performing O&G company in terms of share price in the last 3 years , and that is official !! Just amazing , with all those assets just being flushed down the plughole.

[shammytime] 11/7/2018 08:13

Expect to see 60p here today/tomorrow

[jotoha2] 10/7/2018 10:10

Nice to see no leaky ship here with two days to go before trading update , news of new CEO and of course finance agreement for Fortuna or not! Now of course they may even confirm that there is going to be a sale , now that would do wonders for the share price

[martynmartyn58] 09/7/2018 17:18

You guys live in cookoo land
Think the shares stood at 500+ in 2012 and now 50pence. even that is OTT!You need to check trends in O and G since Sept 2014....Really Oil has had its say

[ohisay] 06/7/2018 08:52

Looking at a GMP broker note yesterday I see they had 25p per share in for Fortuna unrisked.
I also see they still have liquids in at ~ 55% of output this year (and next) assuming the Santos deal completes and Fortuna doesn't happen.

[nigelpm] 05/7/2018 18:53

Looks like standard Life were buying from sailingstone.

[alamaison5] 05/7/2018 10:57

One operation update a year? How is this possible anyway? It feels like nothing is happening when we know that's the opposite.
Has anyone seen anything like this or close to this with any other O&G listed company?
It's puzzling as why they are choosing this approach.

[jotoha2] 04/7/2018 17:09

Do we have new investors at last ?

[jotoha2] 02/7/2018 08:35

And another fantastic day looming in the little world of ophr .