Ophir Energy Takeover Rumours (OPHR)

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Ophir Energy Takeover Forum Posts

23-04-2019
So am I right in thinking I could sell now at over 56p a share, or wait until the takeover and get 55p a share?
26-03-2019
They got the vote through - see: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/OPHR/14014559.html Is anyone - who ideally has read the small print and the UK takeover rules - able to confirm whether, if someone wanted to put a higher offer, it is now impossible for the company to be sold at a higher price? Can shareholders and board still change their mind until the scheme of arrangement actually is implemented and the shares actually transferred, or not?
01-02-2019
Closing auction uncrossed at the full 55p. Interesting. Medco need 75% support to acquire under the scheme but there is a condition allowing them to proceed by takeover instead. Using the takeover method they'd need only 50% +1 share to gain control. So, if some institutions try to get the offer increased, and Medco think they may not get to the 75%, Medco may move to a takeover offer? The shares were 54.3p to sell for a lot of today. After that closing auction, we might see another couple of tenths of a penny on that? Spread of 54.5/54.7p on Monday?
30-01-2019
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.
Ophir & Medco trying to put lipstick on this pig of a deal. Medco up 15% today & since 26 Dec Low (similar to Ophir) up 55-60% SAME AS OPHIR FROM THE ALL TIME LOWS FOR OPHIR - WHAT A JOKE & A SCAM..... https://www.bloomberg.com/news/articles/2019-01-30/medco-reaches-takeover-deal-for-ophir-energy-at-55-pence-a-share?srnd=premium-europe
29-01-2019
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.
28-01-2019
Ignition was 55p then SP would have been stuck at 55p now. Before the takeover was ever rns'd the sp was approx 32p-ish then zoom it went to 48p after first rns was issued confirming there as an offer without mentioning the price. But market placed it at 48p and the BaNg the 48.5p offer was confirmed......
55p minus any dividend is how I understand - so could still be 48p for whole company minus some cash in Ophir...... WHAT A JOKE OF AN OFFER AND A TOTAL SUBMISSION BY ALAN BOOTH & THE BOARD - THE WHOLE TRANSACTION STINKS - MOVE TO ASIA...... AND ALL OF A SUDDEN A TAKEOVER OFFER & LONG TALKS ON WHAT IS CLEARLY A LOW BALL BID..... COULD NOT REPLACE RESERVES, PRODUCTION ETC FOR EVEN 100% MORE THAN A 55P BID I WAS GETTING A STRONG INKLING THAT IT MIGHT BE A SET-UP - BOOTH & BOARD IN CAHOOTS WHEN OPHIR UPDATE WAS PUBLISHED IN JAN BUT OUTLOOK KEPT AT 25K BPD - ABOUT 18% LESS THAN ACTUAL 2018 PRODUCTION. IF ANYTHING IT SHOULD BE NORTH OF 30K BPD OPPORTUNISTIC TAKEOVER - SHOULD BE REJECTED.
55p minus any dividend is how I understand - so could still be 48p for whole company minus some cash in Ophir...... WHAT A JOKE OF AN OFFER AND A TOTAL SUBMISSION BY ALAN BOOTH & THE BOARD - THE WHOLE TRANSACTION STINKS - MOVE TO ASIA...... AND ALL OF A SUDDEN A TAKEOVER OFFER & LONG TALKS ON WHAT IS CLEARLY A LOW BALL BID..... COULD NOT REPLACE RESERVES, PRODUCTION ETC FOR EVEN 100% MORE THAN A 55P BID I WAS GETTING A STRONG INKLING THAT IT MIGHT BE A SET-UP - BOOTH & BOARD IN CAHOOTS WHEN OPHIR UPDATE WAS PUBLISHED IN JAN BUT OUTLOOK KEPT AT 25K BPD - ABOUT 18% LESS THAN ACTUAL 2018 PRODUCTION. IF ANYTHING IT SHOULD BE NORTH OF 30K BPD OPPORTUNISTIC TAKEOVER - SHOULD BE REJECTED. OPHIR MANAGEMENT ARE A BUNCH OF ......
25-01-2019
What do these forms all mean. We know it's compulsory for takeover but why the need to issue every second of everyday.
We know it's compulsory but what is the purpose of issuing form 8s every second of the day It's a requirement of the takeover code - if you breach it you are subject to major fines.
Ed123 - in the FT relevant to your mentioning low ball bid for RPC.... Investors often get shortchanged by self dealing takeover target managements.. nothing new - RPC would seem to be another such episode.... FT 24 Jan 19 Two shareholders attack Apollo’s ‘low’ bid for RPC RLAM and Aviva Investors criticise board’s recommendation of £3.3bn deal
23-01-2019
There's a firm market in Ophir today (46p, up 2.5%). No certainty, of course, that a bid will be tabled. However, I remain of the opinion that a bid is more likely than not. Level of any bid? The suggested level was 48.5p. Oil has firmed a bit since then. It may work better for Medco to be just into the 50's, say 50.5p? Then see how it is received by the big shareholders. Might need to increase the bid after the first count? Final offer at say 55p or thereabouts? Fwiw, I wouldn't pay too much attention to broker targets. They can be a long way out. By way of illustration, today RPC have recommended acceptance of a takeover bid at 782p per share. That takeover price is lower than all of the broker share price targets I've seen (880p to 1230p). Hoping for the best for holders.
15-01-2019
Sounds like a scaling down of operations and cost savings.We know the resource sector is moving to crypto and blockchain with companies like Ophir not exempt .You know its coming but how they do it is the interesting part..Takeover cancelled is an indication of a change in direction imo.
11-01-2019
Sadly management/Alan Booth - don't have many shares. In the low single percents if I recall what another board member posted.... Alan Booth is worse than Nick Cooper if he is going to be in cahoots with the Indonesians and allow British long term investors, widows & pensioners to be so unfairly treated..... "Does anyone know how many shares the BOD & Managements have... or probably more importantly how many Options (that would vest on a takeover)? This is probably one of the most important variables that will determine their response."
Does anyone know how many shares the BOD & Managements have... or probably more importantly how many Options (that would vest on a takeover)? This is probably one of the most important variables that will determine their response.
10-01-2019
Why are there forms 8.3 and 8.5 if a bid has not been put forth It's a requirement of the takeover code when there is a potential offer : THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
09-01-2019
Ok, I thought you were refering to Madura & Sampang, they got from Santos. None the less, Ophir is rated very cheaply at the moment. It didnt take long for the Santos assets to start paying a load of the debt off. Im happy with my investment, takeover or no takeover.
07-01-2019
Ophir net assets were US$ 1,087,219,000 as of half year 2018 results on 30 June 2018 Even if impaired for $300mn per announcement Ophir assets are $787 MILLION at current share price of 44.80 and GBPUSD of 1.27 - Ophir market cap is $402.5m - based on assets Ophir Share Price should be near double at 88p, FORTUNA SHOULD HAVE BEEN FULLY PRICED IN - ONLY A NUMBNUTZ WOULD THINK THERE WAS A LESS THAN 95% CHANCE THAT LICENSE WOULD BE REVOKED. I WAS HOPEFULLY NEW CEO MIGHT PULL OUT A RABBIT FROM THE HAT BUT HE IS AS USELESS AS NICK COOPER. I would think takeover at less than Morgan Stanley target price of 80p would be highway robbery....
03-01-2019
There were two articles on the Medco/Ophir situation in the FT today. https://www.ft.com/content/de451010-0e63-11e9-a3aa-118c761d2745 https://www.ft.com/content/93aac2f8-0e94-11e9-a3aa-118c761d2745 Arguably the second article, in weighing the value of Ophir in a takeover, appears to be broadly agreeing with my own suggested takeover price: 55p. Has anyone else read it? Would you agree?
Yes, good long term hold, I'd agree with you Ziblot. However, if a lot of that value can outed quickly, then why not go for it? Fwiw, I'd prefer a takeover but, if it doesn't happen, then that's ok too.
ohisay, Spot on. Encore got ahead of itself but anyone investing from the 2008 market crash days made huge money even at 70p takeover by PMO. Greed is what ruins opportunities to make good money. Before you know it, the outlook can change dramatically. If I were invested here, I would take 65-70p cash all day long in this topped-out market. Cash
Interesting developments here. I was a shareholder in Encore which was taken over at a value of circa 70p/share in an all-paper deal by PMO some years ago, AB was the boss. Prior to that takeover offer, the Encore SP also collapsed to the mid thirties, then boom offer thrown in. Will history repeat itself I wonder? I would take the highest offer here and run with it. Markets are at the end of a ten year bullish cycle and monetary policy has changed - those holding out and wanting more, I don't blame you, but don't be greedy. A small reasonable profit is better than no profit at all. Holding here for another year with what is ahead of us may not be a great decision. Cash
02-01-2019
Posted earlier - Per Stifel Note out today 'Ophir in preliminary takeover approach: we think shareholders should hold out for at least 66p per share'
Under UK takeover rules, PT Medco Energi Global has until Jan. 28 to make a firm offer or walk away, Ophir said.
It would be criminal of other Oily managements to let Medco steal Ophir at this joke price. Price for 27k low cost BoE per day is north of $700m - ADD HOT PROSPECT OF MEXICO LICENSES, TANZANIA & ACCURSED FORTUNA ASSET. THIS HAS HAS HAS TO GO HIGHER FOR A TAKEOVER - AND I WILL BE VERY VERY SURPRISED IF THE CHINESE OR THE SINGAPOREAN GOVERNMENT THAT FORKED US $1.28 BILLION YES BILLION FOR 20% OF TANZANIA ASSET ALLOW MEDCO TO STEAL THE REMAINING 20% HELD BY OPHIR FOR NOTHING/PEANUTS...... IT WOULD BE A STAIN ON THE MANAGEMENTS OF SINGAPORE FIRMS, CHINESE TO ALLOW MEDCO TO ROB OPHIR AT A SUB 100p price......
I think this takeover will probably happen, and there will be more profit from here. However, I have made 30% profit so have taken it. Always believe in leaving some profit for the new man. Good luck for those that hold
hxxps://www.woodmac.com/press-releases/medco-energis-potential-takeover-of-ophir-energy/ Good info on Medco - they are a serious mid-term oiler
Stifel on #OPHR 'Ophir in preliminary takeover approach: we think shareholders should hold out for at least 66p per share' Agree and a lot more upside here, purchased some more. Good luck all.
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