Ophir Energy Share Discussion Threads

[ashkv] 29/1/2019 11:13

NigelPm should submit her/his shares at 55p - and leave us in peace :)

Only a lucky chancer would think 55p is a fair price.....

[nigelpm] 29/1/2019 11:07

Good luck to them - they've acted in a reasonable manner. Up to the shareholders to decide if they want to sell at 55p or not.

Don't see the problem at all.

[romeike] 29/1/2019 11:04

I think the best outcome is if Medco just kindly does one and let's Booth focus on improving the business as proposed by the activist investors. I think this offers a better return for investors. Medco's approach so far has been nothing short of slimy opportunism.

[nigelpm] 29/1/2019 10:58

The market might not decide but it needs consent of 75% of shareholders to push it though - even with board approval that might not be forthcoming.

[arteespresso] 29/1/2019 08:30

Well said Joto

[jotoha2] 29/1/2019 08:05

Hedgies are playing this both ways , that is their option , as is ours the pi , it is Booths Job to negotiate the best deal , the market does not decide what is a fair price for a takeover.

[arteespresso] 29/1/2019 07:17

Not higher than 55p because that if there is an offer, will be it (max). Price not higher because if the market - Yes, would you have sold your house post 2008 after the financial crash? No, only if you had to or were upsizing? It beggars belief why some on here can not understand why LTH and even some who have recently bought in don't think this is a good deal. The only people this is a good deal for, those who have bought in from August 2018, and when the price was in the 30's & 40's

[ashkv] 29/1/2019 07:07

The general share market & more so the energy space is stressed at the present.

Ophir are just coming off awful Fortuna news, and a 1.5 year low in Brent prices late December. The market at present is not confident of Brent direction... many other reasons and that is why most E&Ps are trading about 20-30% of their 52W lows..

Medco are taking advantage of this market stress to "steal" Ophir from share holders....

That is why on announcement of 55p offer Medco went up 10% yesterday whereas Ophir went up 6% - NOTHING COULD BE AS STRAIGHTFORWARD AN INDICATOR THAT OPHIR SHARE HOLDERS ARE GETTING ROGERED......

THERE IS NO NEED TO SELL - LET ASIAN ASSETS PROVE THEMSELVES. LETS NEGOTIATE WITH EG FOR SOME COMPENSATION FOR $700mn spent in Fortuna under Alan Booth's Chairmanship...

THIS WHOLE ENDEAVOUR LOOKS STAGED & HAS A STINK ABOUT IT.....

[rayleee] 29/1/2019 05:05

Think about this. If we are being ripped off why is the share price not higher than 55p. secondly, why is no one else wanting to buy at a bigger price. Seems like supply and demand so why would Medco offer more?

[spacedust] 28/1/2019 20:42

160p initially bought
110p night couple of years

55p is a disaster for me

[nigelpm] 28/1/2019 19:27

Flybe? Oh my - there are some tools on here.

[funtimejonny] 28/1/2019 19:18

Well I'm out. This could go the same way as FPM or even worse (Flybe).

[jotoha2] 28/1/2019 19:11

Major holders should tell Booth to pull his his finger out and start to negotiate a proper deal based on true value , and at the same time come clean in terms of what the BOD will be doing if this derisory offer goes through.

[arteespresso] 28/1/2019 18:41

Unless you know something other private investors are not privy to, who knows whether 55p will succeed. What seems apparent is that the board will recommend 55p if it's forthcoming, the rest is down to the main investors, of which no doubt, Ophir will know who will play ball and who will not. Let us see, as it may not be as clear cut as most are assuming.

[rogen83] 28/1/2019 18:09

I think blaming Booth is misguided. The previous management screwed this company in to the ground. Tanzania is worth what someone is willing to pay for it. Pavilion massively over-payed. Togsay the value is debatable. 55p will succeed whether people like it or not (unless another party does come to the table, doubtful)

[arteespresso] 28/1/2019 17:41

Booth's concept of realising shareholder value, is one can argue, rather tenuous at best. Agreed, there is no need to sell. A simplistic analogy: your business is ticking along nicely, good free cash flow and very soon little/no debt. It's perceived value has dropped over the years, but it matters not, as the assets in place will provide for, and the opportunity to grow and enhance shareholder value. As the BOD, you talk about creating shareholder value, so one would think , great let's carry on growing or sell some assets than we are unable to monitise at the present time. What it does not mean is let's go for a lowball offer, one that would be more akin to a Co. in a fire sale. The board are not in this for the best interests of the longer term shareholders, unfortunately how the world of businesses go in these 'developed countries'. What is the irony of it all, is that people are very quick to criticise Africa/Asia for their corruption, yes it goes on but everyone knows about it. I am fortunate that my average is quite low, however it doesn't detract from the fact that this deal, if it goes through, has a sense of urgency that belies the facts of where Ophir are. That is the niggling concern.

[spacedust] 28/1/2019 17:24

Orchestrated cheap sell. He probably will get some real estate in return

[arteespresso] 28/1/2019 16:54

Pavillion would only find it useful if Tanzania was going anywhere, at the current point in time, no one knows. If anything starts happening with Tanz, this would be worth a lot more

[beergut] 28/1/2019 16:07

At 55p, why would the Singapore mob not come in and trump the offer. That way they go from 20% to 40% of their asset and then can sale the bits they don't want

[spacedust] 28/1/2019 16:01

If medco walk away the share price will be below 40p again before it starts a decent gradual rise towards 60p