Ophir Energy Share Discussion Threads

[sporazene2] 12/3/2019 11:02

$143 mill of free cash flow and low capex in 2019 gives plenty of room to invest and grow. shows the current board have almost no ambition. not sure why they are selling.

[arteespresso] 12/3/2019 11:00

To me, it would be absolutely crazy if the major shareholders vote this through now. Look at the free cash flow, production, find in Mexico 'in line with our expectations'. Unless they are going to give a special dividend in addition to 55p share offer, not a hope in hell of this getting voted through after that announcement!!

[ashkv] 12/3/2019 10:24

The more I think about it the more steamed i get - AS INVESTORS I DESERVE TO KNOW ABOUT MEXICO DRILL, RESULTS & POTENTIAL

LOOK AT THE SHARE PRICE OF ECO ATLANTIC - around 15% of a good prospect license in Guyana prior toany oil find and currently GBP155mn market cap

Why didn't we get updates/RNS on the Mexican well spud, find, analysis & follow-on time line!!! Shameful conduct from the blathering, blustering & bullying muppets who have managed to destroy billions in share holder value with no remorse!!!

AS AN INVESTOR THE MEXICO WELL IS HIGHLY HIGHLY MATERIAL TO MY SELLING OUT TO MEDCO ON THE CHEAP - DO YOU THINK THIS MIGHT HAVE BEEN HIDDEN AS BOOTH & SCHRADER WISHED TO PUSH FORWARD ON THE SLY WITH THEIR ABSURDLY LOW TAKE OVER HEIST WITH MEDCO - BRAVO BRAVO SANDGROVE, KITE LAKE, PETRUS et al FOR SHIELDING INVESTORS & PREVENTING A MOCKERY OF A TRANSACTION!!!

[ashkv] 12/3/2019 10:02

Outrageous - i look forward to giving this management the boot post the fail of Medco transaction.

If they sell Mexican block for a pittance - should be sued & possibly criminally prosecuted!!!

[rayleee] 12/3/2019 10:01

Ophir is currently reviewing how it can return cash to shareholders, and will update following "this significant piece of work".

[sporazene2] 12/3/2019 09:50

my guess is that has to be some kind of special dividend in addition to the recommended offer. surely the offer wont get voted through otherwise.

[arteespresso] 12/3/2019 08:46

Likewise, are we in some parallel universe whereby Ophir just do what they want - Spud if a well, an oil find perhaps commercial in Mexico? A potential cash sale of the Mexican block? So who will this money go to, Medco I take it rather than the shareholders? Is this for real?

[sporazene2] 12/3/2019 07:11

Did they announce the spud of the exploration well? Did we really find out today that it was a discovery?

[prefab] 12/3/2019 07:09

From the results: the company is in advanced talks to offload block 5 in Mexico for cash.

[prefab] 08/3/2019 13:22

Becoming clear now where Sandgrove and Goldmans got their stock from. HSBC and BOA out and Goldmans pick up another 1%.

[prefab] 07/3/2019 15:09

Another 1.3% for sandgrove.

[prefab] 06/3/2019 18:56

“The offer is unanimously supported by the Ophir board.” Unfortunately for them, shareholders decide the future of OPHR.

Interesting to note that SOCO made an approach in January, although that appears to have been an all share offer.

[dunderheed] 06/3/2019 14:41

Very interesting - for once a bit of shareholder activist support!! (Hopefully)

[nigelpm] 06/3/2019 13:05

First time I've seen it publicly stated even though most of us on here had clocked that about 5 weeks ago!

[prefab] 06/3/2019 11:36

Yes Ashkv, they've converted to shares confirmed by 10:53 RNS. Now largest shareholder by some margin, I've got to assume they haven't done it to do MEDCO any favours. Now to see how this plays out.

[ashkv] 06/3/2019 10:34

Medco Offer 0% Chance of passing at current level it would appear - Sandgrove per today morning RNS 9.35AM 6 Mar 2019 have announced have converted CFD position to all shares so hold 17.40% OUTRIGHT!!!

Am I reading this right - Medco offer would than seem sunk as highly highly doubt will get 75% of votes with Sandgrove blocking with a 17.40% stake & other hedge fund holders joining suit :)

Happy Days :) :)

[dunderheed] 06/3/2019 08:20

Well maybe the same eventuality for sia as well?
Time will tell.

[nigelpm] 06/3/2019 08:13

Prior to the medco offer both were trading around a market cap of 250m. Tie up would have been perfect. Not to be. Nevermind.

[dunderheed] 06/3/2019 07:44

Nigel if they were worth 50 : 50 they would be valued at Medco cash offer.
They simply are not and for good reason imho.
Whether that will be addressed with Merlin acquisition remains to be seen.
I hope it does turn out to be a growth story but personally will wait on this.
All imho and dyor.

[nigelpm] 06/3/2019 07:41

50:50 would have been reasonable given how lowly SIA is trading at - and a starting point for negotiations - idiots to reject out of hand.

[dunderheed] 06/3/2019 07:39

Well we don't know the terms offerred. Knowing sia they would probably have wanted a 50 : 50 merger!!

[nigelpm] 06/3/2019 07:14

I'd have much rather joined forces with Soco than sold out to Medco.

[nigelpm] 06/3/2019 07:14

Would have made perfect sense - I mentioned it a few times in the past.

[arteespresso] 06/3/2019 07:05

Have a read of the social RNS!!! (Sia). Then have a read of goblins posts on here and the soco board!!!!!!!