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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Salamander | SMDR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 79.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 79.50 | 79.50 |
| Top Posts |
|---|
Posted at 05/3/2015 13:47 by speedsgh ammons - SMDR listed at 250p at the end of 2006 + the share price peaked just above 350p in Q2 2008. The value destruction has been pretty much relentless ever since (unless you were lucky enough to pick the bottom falling out of the equity markets later in 2008). Apart from the sharp drop/rebound in the oil price in 2008/09, the oil price has been at very attractive levels throughout SMDR's listed history until falling through the $80 level in Nov 2014. So I think it disingenuous to suggest that value destruction was largely as a result of "the oil price falling off a cliff". With the exception of 2008/09 + the recent fall, the oil price has been largely supportive. It would be v interesting to plot the SMDR share price against POO since they listed. Aimho. |
Posted at 06/2/2015 08:30 by loglorry1 OPHR vote on all share bid at for OPHR:SMDR at 0.5719:1 today at 11am. SMDR trades about 7% discount to implied merger price now.SMDR vote at 1.15pm today |
Posted at 24/12/2014 22:58 by wbodger Thanks dlm, and I will understand if you don't reply, it being Christmas and all.But here goes, I did give some thought to a walk-away, but imo it is unlikely. Once the Scheme Document is posted it is hard to walk away, and I expect that will happen on time because they had to get a concession on account of the Court being closed until 11/01. If they did pull out there would be a break fee, and anyway the GBA assets are very marketable. Imo anyone wanting OPHR would not see them as a problem, even if they did not want SMDR. But most of all OPHR aren't going anywhere. It's a small chance that they would be bid for anyway, and especially small before mid-January, and after that I don't mind being taken over twice (once as SMDR, again as OPHR). I like OPHR at £1.165 but nothing is risk-free in this market. Good luck anyway. |
Posted at 24/12/2014 21:47 by dlm2602 Wbodger, I sold my OPHR shares and swapped them for SMDR to take advantage of the divergence weeks ago. However there are risks in this. 1) The deal doesn't conclude as expected because either OPHR walks away or attempts to renegotiate terms at a worse conversion rate for SMDR shareholders or 2)Someone makes an opportunistic bid for OPHR as cash is greater than companies mkt cap, conditional on pulling out of SMDR deal. I think the market is telling us that they do not expect the deal to complete as the divergence seems just too large. I took the view that OPHR are very keen to buy SMDR (I think the ex SMDR FD now holds the same post at OPHR so he knows exactly what he is buying and the worth of SMDR)and will want to see it through. However he cannot control any opportunistic bidder coming forwards and trying to take out OPHR. I topped up with some more OPHR shares just in case! |
Posted at 24/12/2014 17:49 by wbodger I'm struck by divergence between SMDR and OPHR*.5719 in the last week. I took a few in the expectation it's just noise, and convergence will resume. Meanwhile strength in OPHR doesn't hurt.If the Scheme Document confirms the terms (.5719) I will have paid 1.165 per OPHR share which looks cheap. OPHR cash per share will decline when OPHR float increases because of the new shares, but cash burn will cease. It looks like a good deal for OPHR as well as SMDR holders. After all, where would we be in this market otherwise? Not far from where we are perhaps, like every other oilie, and trying to attract attention. Just glad we didn't get PMO. |
Posted at 10/12/2014 07:52 by briggs1209 I don't read this as a disaster at all, just clarity. The OPHR deal is obviously supported by both OPHR board and SMDR board. This RNS just clarifies what we know in that major shareholders of SMDR are willing to reject the SONA deal and take the all share offer from OPHR.OPHR obviously value the assets of SMDR and are unwilling to sell them to SONA. |
Posted at 09/12/2014 08:43 by loglorry1 I'm in here for a decent sized slug at 60.6p.SMDR operating costs of $16/boe should mean they can withstand a low oil price environment and although I've never understood how the Thai tax system works - taxes should reduce with oil price. The OPHR bid will likely go through still and OPHR's cash backing should provide a floor on the SMDR price. Also the $400m or so of debt at SMDR (which is not at all attractive) won't matter if it is subsumed by OPHR. OPHR have great assets if you believe in the long term viability of LNG exports to Asia which has a lot of merits so I'm ok to hold OPHR and hopefully they can do great things with their cash in this environment. Log (also hold a bit of OPHR) |
Posted at 06/12/2014 17:54 by dlm2602 I owned OPHR shares prior to the bid for SMDR and shortly afterwards sold OPHR and reinvested in SMDR taking advantage of the relative mis-pricing of SMDR. This mis-pricing has increased significantly this week which suggests to me that the market thinks it won't happen on the current agreed terms. I hope i'm wrong but I wonder whether OPHR reckon that they can renegotiate the all share offer on more favourable terms to OPHR |
Posted at 06/12/2014 10:41 by pineapple1 OPHR paper has done as bad if not worse than SMDR since listed.This fall in SMDR is now clearly orchestrated to give SMDR holders the belief somehow they are getting a good deal and a premium. I,d love to know what instis have been used to do this . Stinks of malpractice/manipula imho |
Posted at 21/11/2014 11:55 by loglorry1 But large shareholder in SMDR and OPHR also happy to sell their SMDR stake to CESPA for the right price. Either bid is win/win perhaps more so if SMDR assets are not as good as OPHR think so.Perhaps large holder in OPHR/SMDR happy to play it this way to get better price from CESPA. CESPA did well on Coastal Energy purchase and may well see a similar situation here. It's really not that easy to say but good to have multiple interest. |
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