Salamander Energy Share Discussion Threads

[specul82] 11/11/2014 13:55

A 14% shareholder of Salamander Energy supports Ophir Energy's all-share bid for the company, the Sunday Times reported. San-Francisco-based RS Investment, which also owns almost 10% of Ophir, supports the offer, which would give Salamander steady cash flow while it develops an oil field in Thailand. Cepsa, the Abu Dhabi-owned company, has also made an approach for Salamander.

[nigelpm] 11/11/2014 13:39

Not so sure about that I understand that major shareholders in both companies Ophir and smdr are supporting the bid

Where have you heard this out of interest?


If no formal bid + assuming the previously agreed SONA deal proceeds in its current form, presumably the share price will head back down to the recent lows?

No, I think the 72p was fear of the SONA deal falling through and the tank in the POO - also margin traders getting stopped out

[specul82] 11/11/2014 12:21

Not so sure about that I understand that major shareholders in both companies Ophir and smdr are supporting the bid I guess if Ophir win it's just a matter of waiting a bit longer for the investment to give a decent return

[speedsgh] 11/11/2014 12:17

What chance of no formal bid? 25/50/75%? I'm assuming quite a high chance considering the BOD's determination to hold on to their jobs at any cost.

If no formal bid + assuming the previously agreed SONA deal proceeds in its current form, presumably the share price will head back down to the recent lows?

[specul82] 11/11/2014 12:07

Very small volume I expect people are now keeping hold of there shares to see what the outcome is going to be

[nigelpm] 10/11/2014 19:57

Oh I agree Specul82. Hence why I'm invested - just not convinced a bidder will pay such a premium right now.

[specul82] 10/11/2014 17:40

So regarding the valuation of bualuang alone $280 million for 40% then would this not mean that this field alone values the company at $700 million less of course the debt Pln has agreed gas sales starting end of this year 20 mms cfd at 5$/ mscf amid rising in the future to 70 mmscfd

[jotoha2] 10/11/2014 17:32

specu82 , I like a figure of around £1.76 as being fair value in the present market , should know by friday

[specul82] 10/11/2014 17:23

Nigelpm Why not the sona deal which is based solely on bualang is worth 280 million and that's only 40% of bualang West kerendan has already agreed price structure for the gas sales with pln In other words this is becoming a cash cow

[nigelpm] 10/11/2014 16:51

An offer 9 times out of ten will be at a 30% premium to the current price minimum on companies this size

Where has this come from?

I don't think you can assume any level of premium actually.

[specul82] 10/11/2014 16:48

NiglepmI posted the link where it was stating that Ophir were looking at an all share offer and no cashAn offer 9 times out of ten will be at a 30% premium to the current price minimum on companies this size

[nigelpm] 10/11/2014 16:46

That's based on rumour.

[nigelpm] 10/11/2014 16:33

Specul82 - where are you getting all this from?

I've done the usual google search on "cepsa", "ophir" and "Salamander energy" but can't see anything.

[specul82] 10/11/2014 15:28

Sorry should have mentioned if it's Ophir then that would equate to a 3 Ophir shares for every 4 salamander shares held Or a complete cash bid from cespa

[specul82] 10/11/2014 14:39

The take over bid will be at least a premium of 30% on the market valve of the company this would take the offer price to 1.30However what you must take into account is the recent rejection of a bid at 159 which is still in my opinion undervaluing the company I would however reckon that a bid around 159 would be recommended by the board at this stage It may be who dares to bid first wins the pot

[alyo] 10/11/2014 13:28

The takeover bid is likely to be 120p. I'm sure the board will reject this and try for 140p. Is probably wait a week to confirm these rumours then buy

[lonrho] 09/11/2014 12:06

well guess that's understandable as the directors wont accept any offer unless they are led dragging and screaming by the major shareholders. I think someone should make a hostile bid to get the ball rolling. Nothing in the times today.

[nigelpm] 08/11/2014 23:13

Short interest gone through the roof of late:

[specul82] 07/11/2014 10:40

Well another weekend comes as per the norm I see the price rising today could reach the recent resistance levels of 107 by the close of play Here's hoping the bidding war starts on Monday Gla

[specul82] 06/11/2014 10:10

Little volume today I think we will be holding on until the last minute and Ophir will be hoping that there share price increases or that the there is a rebound in the price of oil,Personally I am hoping that there is no change for a few days so I can invest some more into smdr at these prices

[nigelpm] 05/11/2014 13:23

Bought some more - I'm either going to do very nicely out of this or regret I ever heard of this share.

[specul82] 05/11/2014 09:52

I can imagine a bit of a panick within Ophir as the oil price has dropped a bit hence there share price dropping so muchI would think that if the had details of an offer less than one for one share then they would have to rethink the strategy Can't be long now thoughGla

[nigelpm] 05/11/2014 07:35

Like I said above I think the latter. Might as well wait for ophir to show their hand.

[specul82] 05/11/2014 07:28

The more the oil price drops then the more attractive salamander becomes as the sona deal is fixed and they have already secured gas price increases for kerendan I wonder when cepsa will show there hand or they will be tactile to wait and see what Ophir are putting on the table before they blow it away by showing a strength of cash resevrves