Ophir Energy Share Discussion Threads

[prefab] 30/1/2019 18:00

Very unlikely that HUR will be seeing a bid in the immediate future, got to prove up the Lancaster wells/test reservoir performance and drill Lincoln/Warwick with Spirit in 2019 before I imagine they'd entertain an approach.

[wbecki] 30/1/2019 17:01

Any thoughts on whho the likely next target will be????

Soco?

Hurricane?


Enquest?

Pmo??

Amerisur?

[ziblot] 30/1/2019 15:57

Well, took the hit and topped up JOG. GL to holders.

[nigelpm] 30/1/2019 15:09

Makes sense for them to take out as much as they can in the market below their offer price gradually - and then top up the offer if needs be.

[steve73] 30/1/2019 14:18

raylee... only if it goes for 55. It MIGHT go higher.

fwiw,
If you sell now you get the cash immediately to re-invest.
If you wait until the offer proceeds it may take a few days after (any) final acceptance to receive your funds, in which time the rest of the oil market could move up significantly.

Which is why I took mine out earlier.

But good luck to everyone whatever they do..

[thedudie] 30/1/2019 14:13

Well you never know what might happen if the Institutional Investors turn the offer down. There may be an increase in price or alternatively Medco may think the price too steep and may walk away in which case there will be a fall-back, how far is unknown.

I would think the board have taken their directions from the large shareholders (after all they own very few themselves) so I expect some signs that Medco are well on there way to ownership in the next few days....

In the FPM takeover the market price was consistently above the offer price as companies were betting on an increase in the offer. That doesn't look to be happening here.

[rayleee] 30/1/2019 14:07

Maximum gain on holding the share is 2%now.
Worth the risk?

[nigelpm] 30/1/2019 12:43

Volume seems to be drying up a touch and price is under 1p below their offer. Potentially bodes well for getting a touch more.

[steve73] 30/1/2019 12:34

Well they've got mine now... for a small profit... and I took some more HUR fwiw.. hoping for an imminent hook-up there.

[nigelpm] 30/1/2019 10:50

30m done now - that's £15m - very good start for Medco.

[spacedust] 30/1/2019 09:39

More form 8s5 coming relentlessly......not over yet

[pete160] 30/1/2019 09:28

I disagree that it is 'a solid company' . This has been an enormous destroyer of capital for, I imagine, the vast majority of investors.It will be sad to see it go at this price but only because most of us bought in at a lot higher price.

[nigelpm] 30/1/2019 09:07

21.2m shares traded - assuming most are for Medco that's not a bad start for them.

[valuehunter1] 30/1/2019 08:28

Sad sad day, another solid LSE firm sold on the cheap.

[rayrac] 30/1/2019 08:16

Surely some are not selling into the market at below the market price with its attendant costs?!

[arteespresso] 30/1/2019 08:11

It's not over yet, let's see if they get the backing from the shareholders??

[nigelpm] 30/1/2019 08:10

3m already - looks done.

[ashkv] 30/1/2019 07:59

Medco up another 6.5% Today - Medco close to 16% up since 55p offer was mentioned - CLEAR INDICATION AS TO HOW MARKET VIEWS THE INEPT OPHIR MANAGEMENT......

[ashkv] 30/1/2019 07:59

ALAN BOOTH FAILED CEO

On 18 May 2018 when he took over as "Interim CEO" Ophir's share price was 63.7p & he disastrous tenure has led to a 15% drop & A STEAL OF A SALE

PS PER TODAY RNS

BILL SCHRADER CHAIRMAN OWNED 0.01% of Ophir Shares 77,000
ALAN BOOTH CEO OWNED 0.05% of Ophir Shares 378,283

CLEARLY NOT ALIGNED WITH INVESTORS

[nigelpm] 30/1/2019 07:58

It's clearly good for Medco - just look at the 15% uplift in their share price over the last two trading sessions

[nigelpm] 30/1/2019 07:57

We'll find out soon enough.. my expectation is a good chunk accept 55p - probably not quite enough to seal it - then they'll come back with 58p.

[steve73] 30/1/2019 07:51

So they offered 58p on 22 Oct, a premium of around 35% to the 43p share price at that time, before making revised (lower) offers of 53.5p and then 48.5p to reflect to loss of the Fortuna licence and the sharply dropping oil price.

...and now the board have recommended a 55p takeout price, with a significantly lower oil price than in Oct, although recovering nicely.

I suspect there may be a few large holders who will hold out for the original 58p.