10.57 22/02/2012
Ophir rises on read-through from Cove deal
StockMarketWire.com
African oil explorer Ophir Energy (LON:OPHR) gained more than 7% after Cove Energy (LON:COV) was the subject of a £992 million offer from Royal Dutch Shell (LON:RDSB).

Ophir operates in East Africa - close to Cove's main assets offshore Mozambique - and the market appears to be looking at other likely M&A candidates.

Have kept an eye on this one for a couple of days and have now dipped a toe in the water.

Today's Telegraph
Market Report: Ophir firms as analysts fuel bid speculation

Ophir Energy was in demand as City analysts tipped the company to be the next independent oil explorer to receive a takeover offer from an oil major, possibly BP.

On Monday, Royal Bank of Canada (RBC) argued that if Ophir is successful with its drilling campaign off the coast of Tanzania, it will become a highly attractive target for a larger oil producer.

Al Stanton, an analyst at RBC, said: "Experience tells us that prospect inventories and drilling schedules expand rapidly in newly established basins, especially when a company has a sizeable acreage position, as Ophir does in Tanzania."

"Experience also tells us that if a "Junior" [independent oil company] builds up a substantial resource base, "Big Oil" [such as Royal Dutch Shell] will take it out. Shell and PTTEP's [a Thai oil producer] bids for Cove Energy [which has operations in Mozambique] should reassure Ophir's shareholders," concluded Mr Stanton.

BP is understood to have held discussions with Ophir at the end of last year about a deal that would have provided the FTSE 100 oil group with its first oil assets in East Africa. The pair were talking about a "farm out or farm in" deal in East Africa. These type of deals typically allow an oil company to bring in a new partner into a certain area where it is looking for oil and gas.

However, some sources also previously speculated that BP may be interested in acquiring the whole of Ohpir, which rose 5.9 to 431.9p.

very good article on ophir in ST Biz today

Was it encouraging?

BP and Royal Dutch Shell are looking at a $4bn (£2.5bn) stake in a gas field in Mozambique, a sale that would confirm East Africa as the hottest growth area in world energy.

Eni, the Italian oil and gas giant, has claimed that the Area-4 gas find is the biggest in its history, but is looking to sell down its 70 per cent stake to find a partner who can help shoulder the capital expenditure.

There has been a huge surge in interest in the region, and several parties are understood to have flown to Milan to discuss buying a 20 per cent share of the field. Even taking the lower estimates of similar deals in the region, and ignoring the probable premium to work with an established player like Eni, that stake should be worth more than $4bn.

Most of the major players have been late to get into East Africa, and will now have to take over or form joint ventures with smaller explorers who gambled that there were big finds to be had in the region.

Shell's chief executive, Peter Voser, right, has already shown his interest in the region with a near-£1bn bid for London-listed Cove Energy, which is significant for holding a 8.5 per cent stake in another field off the coast of Mozambique.

However, Thailand's PTT has made a higher bid, while two Indian companies are also interested. It is thought that this sale process should be concluded in the next month, though there could still be a surprise winner as 25 companies, including BP, went into the "data room" – where firms show sensitive financial and operational information to potential bidders. It is understood that at least 45 companies applied to enter the process.

BP has been linked to a potential tie-up with Ophir Energy, a well-regarded Ftse-250 group that has potentially substantial discoveries off both the west and east coasts of Africa. It is understood that BP did talk to the company about taking a stake in a Tanzanian offshore field, but that Ophir wants to wait until it has more detailed information on its find, in the hope that the results will force a higher price later in the year.

Even then, BP cannot be guaranteed a stake, as Ophir will likely take note of the competitive tension taking place in other sales processes and run an auction.

Shell and BP will also find they are in a highly competitive process to team-up with Eni. Paris-based Total has been reported as being among the oil producers and utilities also interested in bidding.

BP declined to comment and Shell did not return calls.

From Capital Markets Presentation
• Focussed on 4 of 5 key emerging sub-Saharan exploration themes
• Portfolio currently contains c 2Bboe net risked resources (Ophir estimates)
• Upcoming 9 to 13 well drilling campaign
• Tanzania drilling balance between Cretaceous and Tertiary
• Targeting c 600MMboe net risked resources (2.4Bboe net un-risked)
• Proven drilling and discovery track record to date
• Additional major seismic programmes to mature additional prospects
• Cash position US$410 million, net spend US$348 million, fully funded to 1H 2013

Ophir in good shape after successful IPO
StockMarketWire.com
2011 was a transformational year for Ophir. The Group successfully completed a $384mm IPO during a period of difficult market volatility.

The Group has since joined the FTSE 250 and has commenced the busiest operational program in its history with a nine well program in 2012.

After the acquisition of Dominion Petroleum, Ophir's East African portfolio position has grown such that the Group is now the largest acreage holder in the fast evolving offshore East African play.

This compliments the Group's extensive portfolio of interest in West Africa and enables Ophir to be an active driller on both sides of the continent in 2012 and beyond.

Nck Cooper, CEO, Ophir Energy said:"Looking into 2013, early stage preparations are already underway for a further twelve wells across our core countries.The Board looks to the future with confidence and excitement."

From today's UK Analyst Stockmarket report:

In its first full year report since listing on the London Stock Exchange in July 2011, Africa focused oil and gas explorer Ophir Energy (OPHR) reported three significant gas discoveries in Tanzania and revealed plans for a further nine well exploration programme in 2012. During the year ended 31st December, the firm acquired AIM listed Dominion Petroleum, which it claimed increased its portfolio to be the largest acreage in the offshore East African play. The firm also noted that it retained a cash position of 396.6 million dollars (250.3 million pounds). The shares grew by 5.8p to 430p.

On the FTSE 250, Ophir Energy, the African energy firm which began trading in London last year, is hailing 2011 as a 'transformational year' as both revenue and cash-flow surged. Revenue jumped from just $0.53m in 2010 to $14.68m in the 12 months ended December 31st 2011, helped by a farm-out gain from its AGC Profond interests toNoble Energy.

Result of Jodari-1 well, Block 1 offshore Tanzania
RNS
RNS Number : 0179A
Ophir Energy Plc
26 March 2012

Ophir Energy plc

Result of Jodari-1 well in Block 1 offshore Tanzania

"4.5 TCF gas discovery, significantly exceeding pre-drill estimates"

London, 26 March 2012: Ophir Energy plc ("Ophir" or "the Company") announces that the Jodari-1 well in Block 1 offshore Tanzania is a 4.5 TCF gas discovery.

Highlights

· Fourth consecutive gas discovery for the Ophir-BG joint venture in Tanzanian offshore Blocks 1, 3, 4 and largest discovery by Ophir in its history

· Estimated mean in-place resource number of 4.5 TCF. Recoverable mean resource estimated as 3.4 TCF (567 MMboe), exceeding mean pre-drill recoverable resource expectations of 2.2 TCF by 55%

· A total 124m of net pay encountered across the stacked target horizons in high-quality reservoirs

· Jodari-1 has de-risked the Lower Tertiary section, of comparable age to the outboard basin floor fan play in Mozambique, and in pursuit of which the Ophir-BG joint venture is now acquiring 3D in the eastern area of Block 1, Tanzania

· Cumulative discovered, recoverable gas resources in Blocks 1, 3, 4 are now c. 7 TCF and nearing the minimum threshold volumes required for a two-train LNG development

Jodari-1 was designed as a play-finder well to test slope-channel targets of Miocene, Lower Tertiary and Upper Cretaceous age. Log analysis shows that the well intersected the edge of a Miocene accumulation and two intervals of Lower Tertiary age, with 113m and 11m of gross pay respectively and high quality reservoirs. The Upper Cretaceous encountered formation gas but was not considered pay at this location. The significantly greater aggregate pay thickness and excellent net to gross ratio have substantially exceeded pre-drill expectations and result in the 3.4 TCF mean recoverable resource estimate.

The well was spudded on 7th January 2012 in 1153m of water and was drilled by the drillship "Deep Sea Metro 1" to a total depth of 4465m subsea in 73 days. The Metro-1 drillship will now return to Mzia-1 (where the top hole section was drilled in early January prior to commencing Jodari-1) in order to complete the bottom portion of the well. The Mzia-1 well is estimated to take 75 days to drill and is targeting a 4.6 TCF Upper Cretaceous prospect with a different seismicanomaly to that calibrated by the Jodari-1 well.

Jodari-1 was the fourth well to be drilled by the Ophir-BG joint venture in their jointly held acreage and was the first well to be operated by BG. Ophir holds 40% of Blocks 1, 3 and 4; BG operates with 60%.

Nick Cooper, CEO of Ophir Energy plc said:

"The result from Jodari-1, at 3.4 TCF recoverable, has materially exceeded pre-drill estimates and represents the largest discovery in Ophir's history. The 2012 Ophir-BG drilling programme in Tanzania has two objectives: firstly to test deeper intervals below the Miocene and secondly to accumulate sufficient resources to promptly confirm a two train LNG development.

These excellent Jodari-1 results are important for the future development of Tanzanian offshore industry and for the Ophir-BG partnership since they achieve both of these objectives by de-risking the previously untested deeper Lower Tertiary levels and also taking a major step closer to the second LNG train.

This is a very strong start to our five well 2012 Tanzania drilling campaign and the Metro-1 drillship will now move to drill Mzia-1, which is targeting mean recoverable resources of 4.6 TCF. "

Fourth Tanzania well discovers gas - 26 March 2012
RNS
RNS Number : 0385A
BG GROUP plc
26 March 2012

News Release

26 March 2012

Fourth Tanzania well discovers gas

BG Group today announced its fourth Tanzanian gas discovery from the Jodari-1 exploration well located in Block 1 offshore southern Tanzania. Preliminary evaluation of the well results indicates gross recoverable resources are in the range of 2.5 to 4.4 trillion cubic feet (tcf) of gas.

The partnership of BG Group (60% and operator) and Ophir Energy plc (40%) have had exploration successes in all four wells so far drilled in Tanzania, with mean total gross recoverable resources currently estimated to be approaching some 7 tcf of gas.

Jodari-1 is located approximately 39 kilometres offshore southern Tanzania and in a water depth of 1150 metres. It is part of the current three-to-four well exploration programme, which also includes the acquisition of 2 500 square kilometres of 3D seismic data in Block 1.

The next target for drilling is the Mzia-1 location in Block 1, some 23 kilometres to the north of Jodari-1. The discoveries announced previously are Chaza-1 in Block 1, and the Chewa-1 and Pweza-1 discoveries in Block 4.

Nomura has raised its target price for oil and gas group Ophir Energy from 525p to 667p and retained a buy rating on the stock following yesterday's announcement of a record gas discovery in Tanzania.

"The 3.4 TCF of recoverable gas proved by Jodari takes discovered gas
across Blocks 1,3 and 4 in Tanzania to 7 TCF, and much closer to the 10 TCF of gas required for two trains of LNG," Nomura said.

Credit Suisse says European oil stocks will continue to outperform the market

Tue 12:00 pm by Jamie Ashcroft The bank’s selected oil stocks are up 20 per cent in the year to date, versus a 2 per cent decrease during the same time for the Stoxx Europe 600 oil & gas index (SXEP) and a 9 per cent gain for Brent crude.


Analyst Ritesh Gaggar says the bank’s strategists remain positive on global equity markets and he believes the E&P sector is a proxy for the ‘risk on’ trade.

In other words investor’s will buy stocks in the higher risk/reward oil sector as they become more confident and less risk averse.

He highlights that the bank’s selected oil stocks are up 20 per cent in the year to date, versus a 2 per cent decrease during the same time for the Stoxx Europe 600 oil & gas index (SXEP) and a 9 per cent gain for Brent crude.

Looking ahead, Gaggar’s view on the sector remains positive even though these stocks have already risen strongly.

He says his top picks in the sector have are made in the context of three themes. These include strong balance sheets, frontier exploration potential and possible merger and acquisition candidates.

Notably he upgraded his target for Afren (LON:AFR) to 185p from 170p - current price 142p. The upgrade comes as Afren reported a new discovery in the Kurdistan region of Iraq today.

The analyst also upgraded his target for Genel (LON:GENL), which is also active in Kurdistan, to 1,180p from 1,142p – current price 698p. However, he downgraded fellow Kurdistan operator DNO International to ‘underperform’ and cut its target to 9.4NOK from 10.2NOK – current price 9.2NOK.

Gaggar’s also upgraded Dragon Oil (LON:DGO) with his target rising to 868p from 818p - current price 636p.

Meanwhile North Sea firm Faroe Petroleum’s (LON:FPM) target is increased to 247p from 231p - current price 170p, while the target for EnQuest (LON:ENQ) was raised to 158p from 127p – current price 121p, and Premier Oil’s (LON:PMO) target was upgraded to 518p from 490p – current price 379p.

Tullow Oil’s (LON:TLW) target is increased to 1,853p from 1,800p – current price 1,462p.

Also Gaggar repeated a 680p target for Africa focussed Ophir Energy (LON:OPH) – current price 509p, and the target for Falkland oil firm Rockhopper Exploration (LON:RKH) was also maintained at 408p – current price 345p.

Elsewhere Asia focused Soco International (LON:SIA) was downgraded to ‘underperform’, but its price target was increased to 352p from 313p – current price 288p.

Ophir Energy +101.5pc this year

Ophir Energy’s stellar rise has been driven by a remarkable run of drilling success in May Ophir and operating partner BG Group announced their fifth consecutive discovery of significant volumes of gas offshore Tanzania.

Having only listed last year, Ophir has already found itself the subject of takeover speculation, with oil supermajors keen not to miss out on the exciting new East African frontier.

While further successes would send shares higher, Deutsche Bank initiated coverage recently with a 'hold’ rating, warning that “near-term risk and reward is more finely balanced” and that “perhaps more importantly, we believe Ophir has given a strong sign that industry interest in its Tanzania position won’t be welcomed just yet

Oil giant BG Group (BG.) has achieved "excellent results" in partnership with Ophir Energy from a drill stem test on its natural gas well in Block 1 of the Jodari field offshore Tanzania. According to the firm the well flowed at a maximum rate of 70 million standard cubic feet of natural gas per day. The well in question was the first in deep water offshore Tanzania and is situated 39 km off the southern coast of the country. Separately, the group confirmed that its Everest East expansion project in the UK North sea delivered its first production and is on target to produce 10,000 bopd with total gross reserves of 20.6 million barrels of oil equivalent. The shares were down by 6.5p at 1,184.5p.

Long on OPHR.

28 Oct 2013 Ophir Energy OPHR Credit Suisse Outperform 327.40 329.10 550.00 495.00 Reiterates

SP TARGET 495p

Ophir Energy confirmed the part sale of its interests in Blocks 1, 3 and 4 Tanzania for $1.3b, where appraisal activities have increased resource estimates and further derisked the commercial value of the potential development.

"We are about to enter a period of significant high-impact drilling that could be transformational for the Company on success," the company said in a statement.

"This starts shortly with the Mlinzi Mbali-1 in Block 7, Tanzania and continues in Gabon with Padouck Deep, the first well on the pre-salt play, in Q1 2014 with further drilling planned during 2014."

Ophir Energy: UBS raises target from 340p to 395p and maintains a neutral rating.

Professional punters’ old favourite Ophir Energy returned to prominence with a gain of 14.7p or 4.8 per cent to 320.7p.


Buyers responded to news that the company has entered into a farm-out agreement with Austrian group OMV for its offshore clocks in Gabon, Tanzania. OMV will acquire 30 per cent non-operated interests in the Manga and Gnodo Blocks, with Ophir maintaining 70 per cent interest, and 10 per cent non-operated interests in the Mbeli and Ntsina Blocks. Ophir keeps 40 per cent.


But it was speculation that the deal could be the precursor to a much sexier corporate one involving Ophir’s Tanzanian assets early in the new year that sent pulses racing.

Norwegian energy giant Statoil recently made another natural gas discovery off the coast of Tanzania while working with its partners Exxon Mobil. The discovery is in the Mronge-1 well and Statoil estimates that there are more than 2 trillion cubic ft of natural gas there, and the discovery, its fifth off the Tanzanian coast, brings its estimates for the entire exploration area to more than 17 trillion cubic ft. of natural gas.


Flush with that success, word is Statoil will soon take a fancy to Ophir’s interests just along the coast and either take a significant stake or make a full-scale cash offer for the company at a price north of 450p a share.

19-Dec-13 Credit Suisse Outperform 327.80p 440.00p 447.00p Reiteration

20 Mar JP Morgan... 330.00 Overweight
20 Mar RBC Capital... N/A Sector Performer
20 Mar Deutsche Bank 400.00 Buy

Cash rich OPHR is on the rise for the last 10 days, after reaching bottom on the charts
The oversold oil price was the reason for it, but since has bounce back, the same as the share price.

bought some on Friday 19th

Some charts to see what is going on

A large drop today and reaching at this point 133p
a support line specialy on the order book,
as as soon it reaches the 133p the order book gets stronger

Brent Crude & West Texas Light Charts.
link
http://www.fxempire.com/technical/technical-analysis-reports/crude-oil-forecast-march-4-2015-technical-analysis/

Brent Crude & West Texas Light Charts.

link
http://www.fxempire.com/technical/technical-analysis-reports/crude-oil-forecast-march-4-2015-technical-analysis/
----------------
Crude oil chart
Brent oil chart

managing to recover some lost ground at the end of the day
closing with spread 135.60 v 136p

at the end, if one wants to put money on oil stocks at the moment shoul consider Oil companies with cash, production and big reserves, cos they will lead the recovery.

slowly but surely the bounce back continues from the lows 133p last Wednesday 4th

the shares opened higher and at the moment are at 138.65p

------------------------------------- 5 days chart ---------------------------------

charts below are easier to read ....

chart above a waste of time just like you trying to follow me around

what is the point about long term charts with MA when after two weeks and a few p's profits, you banking.

they look desgasting, so better delete them specialy the second one

at least you are consistent in being unbelievably arrogant and obnoxious
however, others may find it very useful to see that sp is challenging but certainly not breaking 50 dma and 25 dma also lurks not far above

in fact, i do not and never have held these, and very glad indeed i am too - the 1 year chart says it all
nevertheless, it is a company that occasionally crosses my radar, so i thought to look to see if you had anything useful or even interesting to say

re- not breaking 25 dma and 50 dma.............. others may find it very useful

since when you have idea of charting? tell a blind maybe he will help you.

the chart does not have any place where it says 25 or 50 dma. so tell to a foul about your charts, because I can not see, anything about your rubbish explanation.


re - i do not and never have held these

but you allways have to put your foot and pestering on any thread saying nonesence

go away and stay there, useless

you really are just soooooo predictable

anyway, as you've chosen to be so utterly gormless ......

the little red line (can you see that?) denotes 25 dma
the little green line (can you see that?) denotes 50 dma
the little black line (can you see that?) denotes 200 dma

TOO LATE

you were posting and arguing and now realise of the mistake cos i pointed out

that is enough,.................useless, maybe you are getting old and do not realise of only argue if you are right

but that is you, on need of argument

the program POINLESS is just starting..........bye
---------------------
any alternative good name for "you"
let us now the one that suits you

" Titus " sugested some
Best Answer: cad, utter cad, nasty bit of work, scoundrel, blackguard ~
rotter, out-and-out rotter, dastard, jerk, heel, slob, scab, son of a *****
stinker, skunk, dirty dog, cur, hound, swine, rat, vermin, pig, *****

hooray! ..... have we got rid of you once more; blissful

are you not going to grace us with a final gem about how spiffing the OPHR chart looks (to a blind man!)?

The fool and his theories are for all to see, but not the blind man

BULLISH SQUEEZE ALERT

Definition
This is a three-day bullish reversal pattern. It was developed because of the frequent event where prices can break to the upside following this pattern, especially if the pattern is preceded by a strong downside move.

Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black candlestick appears on the first day.
3. The second and third days each have lower highs and higher lows than the previous day. Their color is not important.
4. The sizes of the bodies of the three days do not matter.

Pattern Requirements and Flexibility
The first candlestick should be a black candlestick. The other two candlesticks can be of any color and length but they should have lower highs and higher lows consecutively.

Trader’s Behavior
What is important about the Bullish Squeeze Alert is that the downtrend has stalled and some base or stability has finally arrived.

The above post is a copy and paste from;

https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=OPHR.L

at the end of the day, the market will speak

Breaking out of the 140p that has been resistance for the last few days

earlier had higher low on the Candlestick chart

now 140.75p

Company keeps buying its own shares and for the last 3 days up their amount to 400K most likely as the share price was lower.

Date of purchase 6 March 2015
Number of shares purchased 400,000
-------------
Highest price per share (pence) 139.70
-------------
Lowest price per share (pence) 136.30
-------------
Daily VWAP (pence) 137.68
-------------

The purchased shares will be all held as treasury shares. Following the purchase of these shares, the Company holds, or will hold 29,073,161 of its own shares in treasury.

Has broken 141p now on its oscillations of up and down the intraday chart looks promising after having a 68.2% "fibo " earlier

a lot of movement up and down today as at one point was down to the starting point

managing to finish up just close to the 140p considered important at this point

how small Oil shares performed today

At 4:11pm:
(LON:AEX) Aminex PLC share price was +0.08p at 2.1p
(LON:AUR) Aurum Mining PLC share price was 0p at 0.95p
(LON:BOR) Borders Southern Petroleum PLC share price was +0.26p at 6.38p
(LON:CHAR) Chariot Oil Gas Ltd share price was +0.03p at 8.53p
(LON:DGO) Dragon Oil PLC share price was -11.75p at 532.25p
(LON:ENQ) EnQuest Plc share price was -0.37p at 41.13p
(LON:FOGL) Falkland Oil Gas Ltd share price was -2.87p at 26.88p
(LON:GED) Global Energy Development PLC share price was +2p at 43p
(LON:GKP) Gulf Keystone Petroleum share price was -1.25p at 48.5p
(LON:GPX) Gulfsands Petroleum PLC share price was -2.37p at 28.13p
(LON:INDI) Indus Gas Ltd share price was -5.5p at 80p
(LON:OEX) Oilex Ltd share price was 0p at 2p
(LON:PET) Petrel Resources PLC share price was +0.01p at 3.88p
(LON:PPC) President Energy Plc share price was +0.13p at 13.13p
(LON:RKH) Rockhopper Exploration PLC share price was -3.62p at 64.38p
(LON:RPT) Regal Petroleum PLC share price was 0p at 4.62p
(LON:SRO) Spitfire Oil Ltd share price was -0.12p at 4.38p
(LON:XEL) Xcite Energy Ltd share price was -1p at 31p

ah yes, that strong bull indicator, "the inverted northwards"




red = 50 dma
green = 25 dma

=================

your infallible teacher (pedagogue) will be along shortly to explain yet again why this is absolutely a STRONG BUY

Only one word ...... a fool will be allways a fool
a scumbag - (Vulgar Slang) A condom, especially one that has been used
-------------------

Oil shares have been marked down from the start today.Yesterday OPHR was the best performer

CAZA Caza Oil & G... 5.30 -0.45 -7.83%
CNE Cairn Energy 185.50 -12.60 -6.36%
ENQ EnQuest 39.25 -2.25 -5.42%
GKP Gulf Keyston... 45.18 -2.58 -5.39%
PMO Premier Oil 144.22 -10.78 -6.95%
OPHR OPHIR ENERGY 130.65 -9.50 -6.78%
PVR Providence R... 24.85 -1.90 -7.10%
QFI Quadrise Fue... 16.77 -1.23 -6.83%
RKH Rockhopper E... 61.41 -3.59 -5.52%
TLW Tullow Oil 316.31 -29.79 -8.61%
TRIN Trinity Expl... 20.90 -2.11 -9.15%

oh dear oh dear ....
have we touched a raw nerve of our beloved mentor; our little "get it right every time and don't you dare have the impudence to point out that all might not be perfect"?

you're great at dishing out the abuse, but can't abide even being gently prodded

you should have learned this lesson on your father's knee, always assuming you know who he is/was

i do sooooooo hope you haven't lost a huge wad on this little gem

Midday market report

FTSE falters as oil stocks wilt with crude prices

FTSE indices entrenched their losses to midday with oil stocks hurt as crude prices wilted. Falling miners only added to the woes in a session rattled by renewed Greek debt concerns. Prudential (PRU) and Antofagasta (ANTO) fell on news, but G4S (GFS) managed gains.

so?
not all stocks have fallen, and surely OPHR is allegedly a cut above the rest and has even recovered to be down ONLY 5.85% = 8.2p having fallen a further 2p earlier

what smokescreen will you try next or are you going to own up and admit a stinker, for after all, you are a momentum trader and do not hold long term .... i think i recollect correctly

why don't SHUT UP
lonely soul, it seems no one can tolerate you ( yes you family included ) you have to cause trouble every where and now over here

bought last week @ 133.78p and share price now 131.60p nothing to worry

just take care of you PFC( only down 30p today ), has half on price and still holding, do not bother to say nonesence here, you have much to learn to reach my level.

be an opinionated pain to someone else with you acid retort and make sure you collect the feathers you have ruffled so a free pillow can be made with them.

of course you did because you're just a genius, even if only self-proclaimed
if you were anywhere near as good as you make out, you would have sold out at 140/141 ..... indeed, it's strange that you've kept them more than a week, especially when the momentum has turned against you

as for PFC, i'm not worried as i have them (only 500) for the long term in my sipp

anyway, you're most certainly an expert on opinionated people, for you preen in the mirror daily, so i guess you recognise yourself

========

you really don't like being poked and prodded do you, though you're very happy to ladle it out and on a damned sight more personal level too

well you should get used to it being returned, even if your father (whoever he may be) never taught you as much

forgot to mention ...... being short both FTSE and DOW made up big time for losses on the stocks i hold .... and yes, i have banked the FTSE profit though not yet that on DOW

Mentor aka Proslenes

This is out of order
get yourself together
the spies may be needed
but in Russia not here
"he is not here"( "его здесь нет")

WHO TO BLAME FOR THE LARGE FALL OF THE INDICES TODAY?
OVER HERE WAS THE WORST IT SEEMS

INDICES AROUND THE WORLD

Name -------- Price --- Chg --- %Chg
FTSE 100 6702.84 -173.63 -2.53%

Dow Jones IA 17662.94 -332.78 -1.85%
NASDAQ 4859.795 -82.64 -1.67%

DAX 30 11500.38 -81.73 -0.71%
CAC 40 4881.95 -55.25 -1.12%

Jeremy Clarkson?

b'down - don't upset him any more, for he's even more touchy than usual this morning as once again OPHR heads south

"C" are you getting confuse?

I am not touchy because I have not posted this morning yet till now

memory lost already and is only 8.52am

tell porkies on other places ( getting confuse with someone else )
once again got caught with trousers down

oh really; i lie not at all despite your unfounded canards, but can you say the same about the alleged price at which you bought OPHR
oh dear; do i see it down a further 4.4p? ..... great call

The one,s to benefit at this low prices it seems is the company as the price is lower they buy more 500K yesterday

Date of purchase

10 March 2015

Number of shares purchased

500,000

Highest price per share (pence)

141.70

Lowest price per share (pence)

129.90

Daily VWAP (pence)

131.42

The purchased shares will be all held as treasury shares. Following the purchase of these shares, the Company holds, or will hold 29,889,535 of its own shares in treasury.

Can one win with a fool around saying nonsence

yesterday was a great call the shares went to 141p

now not he despite saying ......great call

Crude oil chart
Brent oil chart



live price .... http://www.dailyfx.com/crude-oil

hmm; so what's that got to do with the (lie) purchase you say you made?

hmm; so what's that got to do with the (lie) purchase you say you made?

hmm; so what's that got to do with the (lie) purchase you say you made?

fun being dug at incessantly isn't it

the LIAR is on your side for some years now

the lot is LIAR - BACK STABBER - STALKER -mixed DEMENTIA - the list goes on


note - bought last week 4th @ 133.7869p paid premium for T+20 went offer price was 133.40p

Perhaps time out or sinbin required. Bit boring this.

Have we had 'my uncle is harder than yours' or are we still on dads?

cp1

this is - cynic

he likes to argue to the best, though has to get into lying and talk nonesence to win the argument

re - uncle
and taking the pi--
the little bird said " cynic" uses two fingers

CRUDE OIL - Hits one month low

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to decline after taking out rising channel support. A break below the 38.2% Fibonacci retracement at 56.18 exposes the 50% level at 54.08. Alternatively, a turn above the 58.17-78 area marked by the 23.6% Fib and the February 6 close targets the 14.6% retracement at 60.38.

Crude Breaks Support Line; Watch That Line for Resistance Now



-“Price wise, oil is locked in a volatile range and it takes a break of 54.21 to set the stage for a rally to a double bottom objective of 58.29. The top of December congestion at 59.01 reinforces the double bottom target as an important market level. Continuation lower would leave crude within the well-defined bearish channel and open up the 38.2% absolute retracements of the August 2013 high (112.21) and June 2014 high (107.64) at 41.12 and 42.86.I’ll add that the 38.2% absolute retracement of the May 2011 high (114.80) is 43.85 and the low thus far is 43.56.”

It's getting pummelled again btw. Share buybacks throwing cash away. Loads of pain to come for these types imo. Personally I think oil in the doldrums for at least 3 years and maybe much longer. China is more than wobbling, US still a basket case as well as a food bank state and the EU, ehmmm I'll leave that to others. Best of luck either side.

crude oil

future $48.37 +0.08

cp1

re - pummelled again

since taking over Salamander with shares, there is alot of them now around as some Institutions are having too many of them and selling to their desire level.

re - Share buybacks throwing cash away

well its all depends on oil price movement, directors think otherwise at the moment and considering the huge amount of cash they are having, at this prices I would do the same.

it seems the order book has got stronger for the last few minutes and some bounce is going on after an hour of holding around the intraday bottom of 123.50 / 124p

brent oil price at $56.63

I see no sign of the pain there today that the share price is UP 4.50p

ahem, my little puff adder
closed DOWN 1.8 on the day at 125.25

Nice of you to remind him cynic.

nice to see the retard around when the share price was down

it points to the type of person, well exposed on the Asos thread

note - oil price losing ground again at the end of the day. At 4.43pm, WTI crude was down 1.39% to $47.5/bbl. Brent fell 0.36% to $57.33/bbl


tomasz - 12 Mar 2015 09:44 - 5683 of 5695
Is that imbecile cynic with that imbecile nick-name is showing up here again??!.... must be total waste for sure...mega lol!

The RNS with the news of shares buyback, another 450k today, as the share price is weaker the number is greater.....

Ophir Energy plc
Buyback of Shares

London, 29 August 2014: Ophir Energy plc ("Ophir") announced on 14 August 2014 that, after assessing the near-term capital needs of the business and the discount the Company's shares are trading at in relation to the underlying core value of the asset base, the Board had approved a share buyback programme of up to US$100 million of ordinary shares (the "Programme").

Ophir has entered into an arrangement with its brokers, Morgan Stanley Securities Limited, Jefferies International Limited and RBC Europe Limited, to enable the brokers to make purchases of shares during the period commencing on the date hereof and ending on 21 May 2015, including during Ophir's close periods on a non-discretionary basis. The objective of the Programme is to reduce the issued share capital of Ophir and the shares purchased will be held as treasury shares.

The Programme will be effected within certain pre-set parameters pursuant to the arrangement and in accordance with Ophir's general authority to repurchase shares granted by its shareholders at itsAnnual General Meeting held on 21 May 2014 and Chapter 12 of the Listing Rules. The maximum aggregate number of shares that Ophir may purchase is 59,200,000 shares and the maximum price is the higher of 105% of the average middle-market price calculated over the five business days preceding each purchase and the price stipulated in Commission Regulation (EC) No. 2273/2003. Ophir confirms that as at 29 August 2014 it has no unpublished price sensitive inside information.

out pet puff adder is wonderful at totally unfounded lies (he LOVES that word too) as well as abuse

just for the record, i haven't held ASC for many many months, until yesterday when i shorted a few at 3906

Cynic stop ruining every thread your not invested in any of them yet you appear on several just to mock people and gloat .

jimmy - i'm not gloating but i am totally fed up with mentor and his pretty vituperative abuse that veers towards anti-semitic and that goes back 3/4 years when he was using other names .... yes, i could filter him, but why should i be bullied into so doing?

btw, lest you had not noticed, i am currently short ASC

cynic Send an email to cynic View cynic's profile - 08 Mar 2015 08:54 - 3531 of 3534

jimmy - i shall be marginally upset if it is me you are accusing of gloating, for it is singularly unwarranted
i never ever do such, for i have taken a pasting far too often through stupidity and greed
=============================

Yesterday you were trying to get another argument started by gloating at the fall in price on two different threads ,what gives you pleasure doing that ?

actually not true .....
OPHR is a mini-minnow and neither here nor there
ASC i have long thought badly o'valued, though the market still decrees otherwise

if anyone here loses money (i do, lots of times) or makes money (good luck to them), then it is with their eyes open

surely you're not of the brigade who considers it "unsporting" to have a contrary view to the masses?

You know what i'm saying .

jimmy b

you are wasting your time talking to the MAM's......... fool, liar, stalker, grasser, back stabber (goldfinger ) imbecile (Tomasz ) and any name you want to call him
Lying all the time, I cought him several times ( maybe covering his arse, well fu..... by now ) he will say bought, I sold when a share price has move up or down on his favour, so well after it happens

yesterday at ASC....posting all the time and suddenly.............i shorted at 39...., it takes plenty of time to go from 3900 to 3700p

cynic 12 Mar 2015 15:32 - 5692 of 5695

and still ticking gently south to barely 37
but yes it's still a very good rise and delighted that i shorted at 39 ...... but not the point; it's just good to give tomasz a poke with a sharp stick :-)

mentor (aka MRSI, menorca and several others) my little puff adder
call me a liar as often as you like, but as you are totally incapable of supporting that allegation - in fact it is unsupportable - it carries no weight at all, nor of course any validity

LETS the WORLD know...............
"cynic" is a LIAR well documented in several places

is a grasser (menorca)
is a fool (Fred1new )
a stalker (follow me at every thread )
back stabber (goldfinger )
imbecile (Tomasz )
coward (TANKER )

well little puff adder, having spat your venom everywhere and indiscriminately, it must be galling to find you've hit no target with any effect whatsoever
perhaps practice will make perfect, but don't bet on it

about time you do the decent thing

is the - shard - tall enough

TOM, DICK and HARRY are behind you, just in case you are not brave enough

puff adder by sobriquet, and full of huff and puff and venom by nature

hope you're enjoying wrecking your own thread

Not a good place to jump from mentor ,look at the shape !!

might stop off at the chinese restaurant on the way down for i hear it's very good :-)

Try the Walkie Talkie that would work .

re- wrecking your own thread

another lie

the thread is "grevis2" not mine, i am making sure the wordl knows what kind of "fool" you are, instead of you trying to make the others think the other way

is you who shoud not be here, " STALKER"

OPHR, i not too bad today considering the market and oil prices on the way down

The index is well down for Oil & Gas Producers
Value 6,714.43 Change -75.56 (-1.12%)

Oil & Gas Producers Risers
Price Change

Ascent Res. (AST) 0.125 8.70%
Savannah Petrol (SAVP) 29.50 7.27%
Sefton Res. (SER) 0.09 5.88%
Sound Oil (SOU) 15.125 5.22%
Cadogan (CAD) 9.375 2.74%
Solo Oil (SOLO) 0.61 2.52%
Wentworth Res. (WRL) 32.00 2.40%
Nighthawk (HAWK) 5.99 2.22%
Zoltav Res (ZOL) 48.50 2.11%
Igas Energy (IGAS) 26.00 1.96%

Oil & Gas Producers Fallers
Price Change

Afren (AFR) 4.80 -26.15%
Kea Petroleum (KEA) 0.675 -22.86%
Leed Resources (LDP) 0.06 -7.69%
Soco Intl. (SIA) 148.00 -6.68%
Indep. Res. (IRG) 1.75 -6.67%
Frontera Res (FRR) 0.94 -6.00%
Andes Energia (AEN) 17.00 -5.56%
Westmount Engy. (WTE) 8.50 -5.56%
Xtract (XTR) 0.09 -5.26%
Gulf Keystone (GKP) 36.75 -5.16%

cinic

re - well little puff adder

well well we just spotted the - feminine side - of that " liar "

did you had the Apron on when posting? or was while still cooking that you were posting, then maybe you whould have another excuse as usual.

------------------------------- Intraday Brent Oil ------------------------------------------------------------ 1 month ----------
------

OIL prices still moving lower, but small cap companies are rising today

OPHR is aT best of the day as the order book has been strong most of the day

everything it seems was ready this morning for the bounce

Yesterday, two large trades after close 1M UT at offer price and 571K buy also at offer price
All Indicators at lows and even under Lower Band the share price at BB
Volume today higher than usual, so another point to add....volume and rising

Top up with another lot at 121.919p, offer at 121.40p but paid premium for T+20
tough the orde book was a bit close to level, but the argument is good

large Uncrossed trade at close as UT 122p, today well above mid price.

other positive news on the way
Results just a couple days away Thursday

Chancellor most likely giving uk oils some tax breaks tomorrow.

moving up with the market and after yesterday's change of direction for most oil stocks, despited oil prices still falling, though not as much for Brent oil, most small cap are bouncing back

order book a bit level to strong, though not as much as earlier

BUDGET 2015

North Sea oil

There was much pre-Budget talk on whether there would be help for the North Sea oil industry. And here it is.
From the start of next month there will be a "single, simple and generous tax allowance to stimulate investment at all stages of the industry".
There will be new seismic surveys in under-explored areas of the UK Continental Shelf.
And, perhaps most importantly, from next year, the Petroleum Revenue Tax will be cut from 50% to 35% to support continued production in older fields.

Some recovery on the oil price this afternoon

for Brent looking at the 3 days chart, has been support around the $52.65

------------------------3 days ----------

so far 32.12M share has been purchased

Buyback of shares -- 29 August, 2014

Ophir Energy plc (“Ophir”) announced on 14 August 2014 that, after assessing the near-term capital needs of the business and the discount the Company’s shares are trading at in relation to the underlying core value of the asset base, the Board had approved a share buyback programme of up to US$100 million of ordinary shares (the “Programme”).

Ophir has entered into an arrangement with its brokers, Morgan Stanley Securities Limited, Jefferies International Limited and RBC Europe Limited, to enable the brokers to make purchases of shares during the period commencing on the date hereof and ending on 21 May 2015, including during Ophir’s close periods on a non-discretionary basis. The objective of the Programme is to reduce the issued share capital of Ophir and the shares purchased will be held as treasury shares.

The Programme will be effected within certain pre-set parameters pursuant to the arrangement and in accordance with Ophir’s general authority to repurchase shares granted by its shareholders at its Annual General Meeting held on 21 May 2014 and Chapter 12 of the Listing Rules. The maximum aggregate number of shares that Ophir may purchase is 59,200,000 shares and the maximum price is the higher of 105% of the average middle-market price calculated over the five business days preceding each purchase and the price stipulated in Commission Regulation

http://www.ophir-energy.com/media-centre/press-releases/buyback-of-shares.aspx

another 4.30p up and an intraday high just now

A good 4.50p rise on the day of results .........

Ophir swings to FY pretax profit

Ophir Energy has swung to a FY pretax profit of $288.5m, from a year-earlier loss of $280.5m.

Highlights:

· Completed the divestment of a 20% interest in Blocks 1, 3 and 4, Tanzania to Pavilion Energy for $1.288 billion (pre-tax)

· Cash and cash investments of $1.17 billion as at 31 December 2014 (2013: $667 million)

· Total net contingent resource of 1,031 mmboe at end 2014 - after resources divested to Pavilion and added through the drill bit (2013: 1,256 mmboe)

· Three-year average total finding cost of $1.34/boe (2013: $0.89/boe)

· Post tax profit of $54.8 million (2013: $245.8 million loss)

· Drilled 11 exploration and appraisal wells in 2014, six of which were successful

· More than doubled exploration acreage with no firm well commitments through addition of new licences in Gabon, Indonesia, Myanmar and the Seychelles

· Progressed with the Floating LNG project in Equatorial Guinea, having flowed hydrocarbons to surface at an implied rate of 180 MMscfd and amended fiscal terms

Earnings per share 6.00p (29.00p)

Ophir cuts spending to cope with lower oil prices
By Karolin Schaps

LONDON, March 19 (Reuters) - Oil explorer Ophir Energy , which completed the acquisition of rival Salamander Energy this month, returned to profit last year and said it would cut spending by $250 million over two years to deal with low oil prices.

The London-listed company reported a full-year operating profit of $294.4 million, compared with a $307.6 million loss the previous year, as it benefited from selling stakes in some of its Tanzanian fields.

Ophir, like its industry peers, is cutting capital spending following a halving in oil prices since last June.

The company, whose main assets are in Africa, has reduced its capex programme by around 50 percent year on year to $250-300 million, it said on Thursday.

Other savings will come from reducing overhead costs, which will include some job cuts, chief executive, Nick Cooper, said.

"Ophir has doubled its exploration footprint during 2014 but only has $100 million of committed exploration and appraisal spending in the portfolio between now and 2017," he said.

Ophir's 267 million pound takeover of Salamander Energy has given the oil explorer a firmer footing in southeast Asia and a number of producing assets.

It said the Sinphuhorm gas field and Bualuang oil field in Thailand alone are expected to generate around $150 million in cash this year.

Ophir has been trying to grow by acquisition for a while, having two takeover offers rejected by Premier Oil last year.

another good movement up this morning to 132.60p +3.30p

share price ready to go over 20 days MA

Is moving great guns as the order book is very strong on the bid side DEPTH at one time was 85 v 53 and on that bullish mood the share price went to 135.30p

now is back to 133.80p with 72 v 61 and bullish again, after some profit taking

a bit of up and down but intraday uptrend

I think it was yesterday or day before that grotley fool were trying to stick boot in. They seem to think the market listens. I think they're jokers like 99% of commentators.

Share price has gone to Auction

WTI oil price 2 days chart

I noticed the 20 days Moving overage has been crossed by share price today and although the Indicators RSI and Stochastic, have been rising from oversold the only one holding behind, was MACD, but is now ready to cross over 0 ( divergence) bullish

135p + 5.70p

order book has been very strong on the bid side
is very volatile on those spikes as it reaches a new intraday high
After yesterday's results, everything is looking very good.

another thing is OPHR is the highest riser of the small oil stocks

Ophir Energy Plc’s Buy Rating Reiterated at Deutsche Bank (OPHR)

Ophir Energy Plc logoOphir Energy Plc (LON:OPHR)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank in a note issued to investors on Friday. They currently have a GBX 180 ($2.66) price target on the stock. Deutsche Bank’s target price indicates a potential upside of 40.29% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating and set a GBX 240 ($3.54) price target on shares of Ophir Energy Plc in a research note on Tuesday, March 10th. Analysts at Westhouse Securities reiterated an “under review” rating on shares of Ophir Energy Plc in a research note on Monday, March 2nd. Analysts at Citigroup Inc. reiterated a “neutral” rating and set a GBX 142 ($2.10) price target on shares of Ophir Energy Plc in a research note on Wednesday, February 25th. Finally, analysts at BNP Paribas raised their price target on shares of Ophir Energy Plc from GBX 147 ($2.17) to GBX 151 ($2.23) and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of GBX 249.56 ($3.68).

Ophir Energy Plc (LON:OPHR) opened at 128.31 on Friday. Ophir Energy Plc has a 1-year low of GBX 112.70 and a 1-year high of GBX 270.20. The stock has a 50-day moving average of GBX 137. and a 200-day moving average of GBX 167.. The company’s market cap is £760.93 million.

Directors buying shares after the results

Ophir Energy plc
Notification of Transactions of Directors/PDMRs

The Company has been notified of the following acquisitions of Ordinary Shares of 0.25p each in the Company, by Nicholas Smith, Non-Executive Chairman and Vivien Gibney and William (Bill) Schrader, both Non-Executive Directors of the Company.  The acquisitions all took place in London. 

Name

Date of Transaction

Date of Notification to Company

Number of Shares Purchased

Purchase Price per Share (pence)

Nicholas Smith

20 March 2015

20 March 2015

12,000

129.704

Vivien Gibney

19 March 2015

19 March 2015

5,000

128.928

Bill Schrader

20 March 2015

20 March 2015

7,500

135.000

20 March 2015
---------------------- 1 day


https://twitter.com/nictrades

oil prices on the rise again, most likely due to the greenback getting weaker

$47.05 for WTI
and
$55.90 for the Brent

------------------ Intraday Brent Oil ----------------------------------------------- 3 month -------------------------------------
----

First day were is mostly down instead of up on the intraday chart



Google OIL news.. Google OIL news

Brent live... http://www.livecharts.co.uk/MarketCharts/brent.php
WTI crude .. http://www.livecharts.co.uk/MarketCharts/crude.php

OPHR was not the only one on the way down today

Market report

At 4.47pm, WTI crude was up 0.02% to $47.46/bbl. Brent fell 1.31% to $55.19/bbl.

A slick of oil stocks skidded lower. Tullow Oil (TLW) faded 2.88% to 313.7p, with Cairn Energy (CNE), Shell (RDSA), and BP (BP.) following.

Directors buying more ............

Ophir Energy plc
Notification of Transactions of Directors/PDMRs

The Company has been notified of the following acquisitions of Ordinary Shares of 0.25p each in the Company, by Dr Nick Cooper, Chief Executive Officer and Dr Bill Higgs, Chief Operating Officer. The acquisitions took place in London.

Nick Cooper 24 March 2015
79,500 138.73 p

Bill Higgs 23 March 2015
39,251 140.12 p

Bill Higgs 23 March 2015
5,007 139.80p

Marked down at the start as oil prices were slightly lower, is now well up on the day and trying to reached that important 140p

spread 139.10 v 139.50p +2.50p

reported very late from the 6th March crossed...............

Sailing Stone Capital Partners LL says goes over 10%

before 71,757,969 shares
increased to 72,080,299 now 10.04%

Date of the transaction and date on which the threshold is crossed or
reached: 6 March 2015

Date on which issuer notified: 25 March 2015

Is having problems on breaking 140p

not too surprising as the market in general has turned pretty sour with dow now down 160 points
meanwhile, ftse holds up manfully but not sure for how long

Oil has been rising slowly

true, and PMO has done well today and TLW moderately so

nevertheless, the markets (i think) are heading for some very unsettled times
with regards to oil in particular, saudi is keeping its taps turned low, and if there is some sort of deal with iran, then my prediction of an upturn for crude around mid year will probably prove over-optimistic

I sold PMO today ,will buy it back if it goes back towards 140p . It's a great trading stock , although i missed this ,one mentor has been posting regular i should have looked more carefully .
I do think we are heading for a market wobble ..

Added this to my list , shall keep an eye here mentor ..

good luck to you - jimmy -

if breaking 140p and holding, then we a heading to 180p
but many things will happen on that process
do not forget many of my comments are short term

I'm fairly short term with most , see how oil price goes ,if this takes another dip like PMO i may be interested .I'll do a bit of research as i don't know much about Ophir .

140p broken as oil price surge this morning

Oil prices surge as saudi strikes in Yemen triger supply worries

Oil prices jumped as much as 5% in Asian and early European trade Thursday after reports of Saudi Arabian airstrikes in Yemen raised fresh concerns of supply disruptions.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK5, +3.84% traded at $52.01 a barrel, up $2.84, or 5.7% in the Globex electronic session. May Brent crude LCOK5, +3.58% on London’s ICE Futures exchange rose $2.94, or 5.2%, to $59.36 a barrel.

Saudi Arabia and other Gulf nations launched airstrikes against rebel forces in Yemen’s capital and across the country. The strikes began Thursday morning, hours after Yemen’s president, Abed Rabbo Mansour Hadi, fled the southern port city of Aden by boat when Iranian-backed Houthi militants closed in.

Yemen, although not a very big producer of crude oil, is adjacent to the Bab el-Mandeb Strait, one of the world’s main transit points for seaborne trade. Oil tankers that transit the Suez Canal also need to pass through Bab el-Mandeb.

The Bab el-Mandeb Strait is 18 miles wide at its narrowest point, and its closure could prevent oil tankers from the Persian Gulf from reaching the Suez Canal and block the quickest route for tankers from North Africa to Asia, according to the U.S. Energy Information Administration.

Oil purchasers like Asian refiners are keen to hedge their supply risk in the event of a disruption, analyst Daniel Ang at Singapore-based Phillip Futures said.

Oil prices have been rising for about a week helped by a weaker dollar DXY, -0.72% , after dropping sharply in the first half of this month. A price increase of over 2% in a single session also attracts investors looking to boost positions, Ang said.

Both Nymex WTI and Brent crude prices extended overnight gains, shrugging off ¥a larger-than-expected increase in U.S. oil inventories.

Thursday’s price increase has brought geopolitical risks in the Middle East back into focus, after months of conjecture about U.S. shale oil production and supplies.

“The price rise is likely to be short-lived but I’m sure traders will use it to take some profit as the world briefly remembers that the Middle East is volatile,” Richard Gorry, managing director of JBC Energy Asia, said on the sidelines of the Platts Oil Refining conference in Singapore.

He said he doesn’t expect the Saudi airstrikes to have a real impact on the availability of crude.

Dolphin mobilizes ‘Sanco Sword’ for Ophir (Myanmar)

Dolphin has just mobilised the ‘world’s largest floating object’ by deploying a seismic spread of 12 streamers, 7,050 meters in length with 150 meters streamer separation, off the coast of Myanmar for Ophir Energy Plc.

This configuration of equipment has a moving width of 1.850 meters and the seismic spread covers a total area of about 12 square km.

Bjarne Stavenes, Dolphin VP Technical, commented:“Ophir Energy PLC challenged the industry to provide a cost efficient solution to acquire their large 10,000 square km survey in Myanmar. Dolphin responded by offering this ultra-wide towing solution. After a swift mobilisation, Dolphin’s Sanco Sword is now in steady production with acquisition of about 150 square km in a single day. This is believed to be a world record for our industry and we expect Sword to become the benchmark vessel when it comes to productivity going forward.”

Dolphin is also delivering a complete Fast Track on-board processing system powered by its proprietary OpenCPS software, and Dolphin’s Singapore processing office will deliver complete high quality Pre-Stack Time Migrated (PSTM) SHarp Broadband dataset.

Sold my first lot for a 8p+ profit

running out of time on the T+20

How small companies have performed against each other during the last month

big drop on the oil price today, but share price is holding level of the last couple days

It seems there is some support around the 139p at the moment
very volatile at opening and usually with l weak prices till the buy in kick in the order book

OIL prices keep falling, as is share prices now
COMPARE

SINCE YESTERDAY'S INTRADAY LOW OF 133p, the share price has revovered, yesterday and again today on low volume.

Brent oil lost a lot of ground today, but since the market close is recovering fast again now $ 55.70

At 4.48pm, WTI crude was down 1.84% to $49.17/bbl, while Brent eased 3.24% to $55.25/bbl.

OIL PRICES

This morning
Brent added 1.3% to $55.65 a barrel, while US crude futures rose 1.8% to $50.02 a barrel.

Crude oil futures rallied after Saudi Arabia raised prices for sales to Asia, taking back some of their sharp losses marked before the holiday weekend after Thursday's preliminary agreement between Iran and global powers on Tehran's nuclear programme.

price well up at close
Brent up to $57.81 a barrel, while US crude futures rising to $51.89 at close

Share price rise to 141.90p and over 143p at one time, reflected yesterday's strong oil price

Breaking 145p as oil price had reached $58 once again

A strong rise today but by the amount oil price is rising now should be much better

moving over earlier highs and spiking

15.50pm crude oil traded at $53.30 a barrel and Brent at $58.90.

BREAKOUT

Is shell starting the expected rush to buy oil companies?
naturally BIG buying SMALL

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11521123/Shell-in-talks-to-buy-BG-Group.html

out of curiosity, while i know that OPHR holds plenty of licences, is the company actually pumping any oil at this juncture?

after such a spike at the start of the day, 61.8% retracement has taken place
High 167p
low 145.60p
61.8% retracement 154p

re - BREAKOUT

153.50p was yesterday the next resistance, that was broken a the start of the day and on doing the retracement the 153.50p was then resistance, so the share price only came down to 154p aswell as the retracement 61.8%
------------------
These oil stocks are potential bid targets
By Lee Wild | Wed, 8th April 2015 -

These oil stocks are potential bid targets It was only a matter of time before BG Group (BG.) fell to a takeover approach. Actually, City watchers have been predicting this event since the oil assets of British Gas were split from the residential gas business (now Centrica) in 2000. But is this the beginning of a sector-wide consolidation, or an opportunist bid for a perennial bid favourite?
Well, the consensus is that a flurry of takeovers similar to those that took place in the late-1990s is unlikely. With oil prices having plunged to just $10 a barrel, Exxon bought Mobil, BP (BP.) splashed out $48 billion on Amoco, and French titan Total bought Petrofina and Elf.

However, it may not be so easy to get many mega-deals past the regulators this time round.

"Shell (RDSB) does not have a great record of success in M&A and we are not convinced that this unleashes a wave of M&A amongst the big players," says Westhouse Securities. "Anti-trust issues will prevent the bigger players combining."

But there are plenty more fish in the sea and investors are advised to look further down the food chain for bid action.

"M&A is necessary amongst the mid-sized and smaller players, particularly in the E&P sector and would highlight Tullow Oil (TLW) (West and East Africa), Ophir Energy (OPHR) (East African gas), Dragon Oil (DGO) (massive cash balance), Genel Energy (GENL) (Kurdistan) and SOCO International (SIA) (SE Asia) as probably the top five candidates amongst UK listed players," writes Westhouse.

Consolidation also needs to occur amongst the smaller players as there are too many sub-scale, poorly funded, single asset/country companies listed on public markets."

Here, the broker highlights North Sea explorers Faroe Petroleum (FPM), Ithaca Energy (IAE) and Parkmead (PMG), as well as Rockhopper Exploration (RKH), Bowleven (BLVN), Circle Oil (COP), Lekoil (LEK) and Chariot Oil & Gas (CHAR), "all candidates for takeover given their depressed valuations relative to their portfolios".

Clearly, the market agrees, and share prices are already reflecting heightened bid speculation.

Sold the second lot at 157+

1 - Oil price is weakening from reaching $59.20 is now $57.20
2 - Profit is too large since buying at 121.91p gain of 35p or 28.70%
3 - share price over the higher Band at BB
4 - running out of time on the T+20

The Capital Group Companies,

sells close to 1M shares
the 8th April goes under 8%

beffore 57,426,688 over 8% now 56,445,647 or 7.9305%

Upgraded but down on the day, yesterday was the highest price recently
---------------------------

Ophir upgraded by JP Morgan

JP Morgan Cazenove has removed Ophir Energy (LON:OPHR) from its list of stocks to avoid and upgraded to a more moderate 'neutral' rating from 'underweight', today.

The broker reckons that the new look Ophir offers a more diverse and sustainable outlook, if more complex.

"We believe the operational uncertainty means it is too early to be outright bullish, but see downside risk as diminished; we therefore upgrade from UW to N and increase our Dec-15 PT to 172p from 167p previously," analyst James Thompson added.

The shares have risen by 37 per cent in the past month, despite losing 3 per cent by mid-afternoon, today.

At 16:48pm: (LON:OPHR) Ophir Energy share price was -5.25p at 159.75p

I am back in @ 142p after dropping so much today due to ............

PLACING OF 56,607,366 ORDINARY SHARES IN OPHIR ENERGY PLC
(THE "COMPANY") BY KULCZYK INVESTMENTS SA ("KULCZYK") AND CERTAIN SUBSIDIARIES OF KULCZYK
30 April 2015

Further to the announcement released yesterday, Kulczyk and certain subsidiaries of Kulczyk (the "Kulczyk Entities") announce that they have sold 56,607,366 ordinary shares in the Company at a price of 140 pence per share (the "Placing"). The Kulczyk Entities have raised aggregate gross sale proceeds of approximately £79.3 million through the Placing. Following completion of the Placing, the Kulczyk Entities will not hold any ordinary shares in the Company.

The proceeds of the Placing are payable in cash on usual settlement terms, and closing of the Placing is expected to occur on 5 May 2015, subject to the satisfaction or waiver of certain customary conditions.

The STRONG Support will be if gap is fill @ 125?

But GAP's not always get fill, specially if they are so far away down

The only reason the share price has fallen for the last couple days is for the news of the placing, otherwise everything is OK with the company, and even today the OIL price is rising to new highs

intraday resistance @ 145p

That will be the figure to look for, already reached once and fallen again
It was ( looking at the intraday chart ) the price the Market Makers drop to at the start of the day
once it get over that then time to look forward to stronger bounce back

Submitted by Tyler Durden.

WTI Crude futures are up almost 6%, spiking above $48.50 into the close and options expiration… no fundamental catalyst for now… Once again, crude futures have been ‘spoofed’ all day so this is hardly a surprise.

Mootley Fools have fallen to its depths as no writer has any credibility for some time now and certainly this one falls into that category..................

Why Ophir Energy Plc Is Plunging Today… And Why I Would Sell!
By Motley Fool | Thu, 30th April 2015 - 10:41

It's not a great a time to be invested in small oil and gas producers, and today's news about Ophir Energy's (LSE:OPHR) placing just reinforces that view. Its shareholders were the biggest losers in the FTSE 250 on Thursday at the time of writing.

The Placing

Ophir announced today that Kulczyk Entities, its second-largest shareholder, had sold 56.6m shares at 140p apiece for about £79.3m. Following the completion of the placing of its 8% stake, Kulczyk Entities will not hold any ordinary shares in the company.

This is a big problem, for two reasons. First, Ophir loses credibility and a key, cash-rich shareholder at a critical time when relationships are vital to its success, particularly when it comes to looking for new partnerships.

Second, it loses a possible source of cash: Ophir is solid financially, and has cash on the balance sheet, but may need to raise funds in the next 36 months if its assets do not produce the required level of cash flows.

Inevitably, the shares were hammered in early trade today, having lost 11% of value so far. More pain may lie ahead, and here's why you'd do well to cut your losses if you are invested.

My Take

If weakness in oil prices persists, the oil and gas producer could become less comfortable with its cash position, as heavy investment remains core to its strategy.

As I recently argued, the good news is that Ophir's balance sheet isn't stretched, but to fund its ambitious expansion plans, it may need up to $500m a year in heavy investment -- and those are funding requirements for much bigger players.

Ophir, whose core assets are based in Africa, has recently announced to have almost halved its capex programme to $250-300 million, but nobody really knows if it'll manage to stick to the plan as it needs investment to grow as a profitable entity.

Opportunity/Salamander/Oil

If you think this is a good opportunity to snap up the shares, also consider that Ophir has lost about $250m in the past three years, and is unlikely to report meaningful economic profits at least until 2017.

M&A is also core to its strategy, which heightens the risk of the investment.

When Asian oil explorer Salamander Energy was bought at the end of 2014, the all-stock deal held a "compelling strategic logic", according to management, but only analysts seem to have bought into such an argument. It has yet to be seen whether the deal makes any sense financially and economically.

The acquisition of Salamander, which was completed last month, hasn't done much to lift spirits, and Ophir stock has gone nowhere since November, in spite of bullish price targets from analysts, according to which Ophir should now be worth more than 200p a share, rather than 143p.

Ophir remains a "high-risk/uncertain-return" investment -- one for which you may record hefty losses if Brent stays below $65 per barrel into 2016.

It looks like the buyback is completed. Lets see how the share behave without the buyback........

Buyback of Own Shares
London, 1 May 2015: Ophir Energy plc (the "Company") announces that it has purchased the following number of ordinary shares

Date of purchase
1 May 2015
Number of shares purchased
393,612
Daily VWAP (pence)
144.49

The purchased shares will be all held as treasury shares. Following the purchase of these shares, the Company holds, or will hold 40,858,062 of its own shares in treasury.

This purchase completes the US$100m share buyback programme announced on 29 August 2014.

Was that some very good news ?
1 - 67000 boepd
2 - number of development wells required for first production from seven to three
3 - and capital expenditure have been reduced by $200 million

Ophir Energy Plc - 05 May 2015

Appointment of Golar LNG as Midstream Partner for Fortuna FLNG Project in Equatorial Guinea

Ophir Energy plc ("Ophir" or "the Company") announces it has signed a binding heads of terms for a midstream chartering and operating services agreement with Golar LNG ("Golar") with the agreement of GEPetrol, its partner in Block R in Equatorial Guinea, who will formally ratify it next week. This agreement establishes the key commercial terms for Golar to build, operate and maintain the floating liquefaction and storage vessel and facilities at Ophir's operated Fortuna floating liquefied natural gas (FLNG) project in Block R, Equatorial Guinea. The vessel to be used will be Golar's Gimi FLNG vessel.

Nick Cooper, Chief Executive of Ophir Energy, commented:

"Finalising our midstream partner is a significant step forward for the Fortuna FLNG project. This agreement accelerates the date of first gas and reduces costs in a critical part of the value chain. We believe the terms of the agreement allow the project to deliver LNG at attractive returns into both Pacific Basin and Atlantic Basin LNG customers. The agreement completes the value chain economics and allows Ophir to confidently plan for first gas, and c. 67,000 boepd of production by mid-2019.

At a time when many other greenfield LNG projects are decelerating, Ophir has elected to accelerate the Fortuna FLNG Project to secure what we believe will be a better market opportunity at first gas, and to lock in anticipated reductions in upstream development costs. We will now move immediately into the define phase of the upstream and midstream projects with a view to reaching Final Investment Decision ("FID") by mid-2016.

We are pleased to have secured Golar as a partner; the firm is a leading provider of FLNG solutions and the flexible, competitive commercial terms we have agreed will ensure that FID can be taken at current LNG prices. Ophir sees many parallels with the emergence of leased FPSOs approximately 25 years ago for oil developments. The re-fitting of vessels and leasing them to independent E&P companies in an oil field context both unlocked a series of oil assets and also provided competitive advantage to those early adopters of the technology. Ophir believes that the same is now about to happen in a gas field context for FLNG."

Golar will operate the Gimi under a twenty-year charter term. During this period it will be responsible for the sub-sea well control, receiving, liquefying and offloading the gas to LNG vessels. Ophir, as the operator of the Upstream component of the project, will lease the Gimi. Ophir's responsibility will be to construct and build the sub-sea facilities, drill the development wells, manage the performance of the reservoirs and, together with the Ministry of Energy and Sonagas, to market the gas on behalf of all upstream parties.

Golar, with its partners Keppel Shipyard ("Keppel") and Black and Veatch have previously committed to the Gimi FLNG conversion in December 2014. Keppel is a global leader in the conversion of floating production, storage, and offloading vessels and floating storage and re-gasification units. Keppel, which has a track record of close to 120 conversions, already working with Golar to convert a similar LNG vessel for use offshore Cameroon. Black and Veatch is a leading provider of proprietary liquefaction technology.

The Gimi is expected to have an annual average capacity of 2.2 mtpa at a reservoir production rate of up to 400,000 mscfd (c. 67,000boepd) with first gas expected mid-2019. Ophir and Golar have agreed a vessel charter rate that is competitive with US liquefaction tolls and that ensures that the Fortuna LNG project is delivered at the low end of the cost curve for LNG projects.

The Fortuna FLNG project will now move into the full definition phase and Ophir has recently appointed Worley Parsons as Owners Engineer to the project. The midstream Front End Engineering and Design ("FEED") is expected to be completed by end-2015 and the upstream FEED is expected to be completed in Q2 2016. The project is planned to reach FID by mid-2016, at which point Ophir, Golar and GEPetrol intend to have signed a fully termed charter agreement based upon these heads of terms.

The flow rate established by the Fortuna drill stem test ("DST") conducted in late 2014 has resulted in a reduction in the estimated number of development wells required for first production from seven to three. As such, upstream capital expenditure to first gas is currently forecast to have been reduced by $200 million to around $800 million. Further savings are expected to be identified as the project moves through FEED. In keeping with its strategy of self-funding its development projects through selling down equity in the asset, Ophir will now turn its attention to bringing an upstream partner into the project, as well as reviewing options for incorporating the Fortuna LNG project into the Group's debt structure.

The previous agreement between Ophir and Excelerate Energy has been terminated by mutual agreement.

That was intended at 9.37am today........ now around 146p +2p, has been to 147.60p not long ago

re : intraday resistance @ 145p

Strange but true
New highs for the Year at both Oil crudes, but unable to break the 145p, other stocks on the same sector have been rising well for the last couple days.
PMO @ 184p, 10 days ago we were neck and neck on the same price
share price has gone over 145p as typing, but very volatile, maybe today will be the day

I had a go at what overage price was the cost of buying back $100,000 of shares

We know the total amount of shares bought 40,858.062 shares
and the amount paid $100,000

now the exchange is more difficult so I have to take middle price of about $1.55 to £1
From the $1.64 at 2nd September when the first by of 185k shares at 237p
to $1.51 on 1st of May of 393K at 144p
$1.46 was the low around end of April

Calculation
$100,000 : $1.55 = £64,516
£64,516 : 40,858.062 shares = 157.90p
157.90p is the overage price paid (1)



(1) What has made the overage so high compare with the price now is the 3 month after starting buying aroung 9M shares were bought from 237p to 160p

this weeks shares mag (page 34) rabbits on about this stock and its t/o possibilities
the chart is truly vile (see header), so either shares mag has an inside line or the market knows what it's talking about .....

my money goes with the latter, but i'm very happy to hear a contrary view

Odd one Cyners. I bought 2000 at 138p a few weeks ago but seem to have lost the plot. Stop loss set at 118p so thats my view. A weak buy!

i was very surprised that shares mag did not highlight either PMO or TLW as good t/o targets ..... they're not bad on fundies either

Yes TLW especially! I only hold 1000 just to keep my toe in!!

Trading Update

Ophir Energy plc ("Ophir") provides an update on activity for the first half of 2015 on entering a close period prior to publication of interim financial results on 13 August 2015.

Operations

Production during the first half of 2015 averaged 14,600 boepd, the Bualuang field in the Gulf of Thailand contributing 12,600 boepd. Production is on track to meet expectations for the full year.

Ophir continues to advance and significantly de-risk the Fortuna FLNG project in Equatorial Guinea. The selection of Golar FLNG as the midstream partner lowers the capital intensity of the project, with upstream capex to first gas expected to be c. $800 mm, and accelerates the lead time to first gas. Both upstream and mid-stream FEED studies are commencing this quarter with a Final Investment Decision in mid-2016 and delivery of first gas in mid-2019.

In Thailand, rig discussions are at an advanced stage ahead of a drilling campaign in the second half that will include two exploration wells on the G4/50 licence - the specific prospects high graded for drilling will be detailed in due course.

Operations elsewhere are progressing to plan. The Group has recently completed the acquisition of 10,800 km2 of 3D seismic data offshore Myanmar. In Indonesia, mechanical completion of the Kerendan Gas Project in Kalimantan is forecast to complete this month and the development remains on schedule to start delivering 20 mmscfd in 2H 2016.


Cost Reductions & Synergies

The integration of Salamander Energy plc's operations and of the Niko asset package has progressed well during the first half of 2015. Management has implemented a company-wide cost rationalisation programme which is now delivering $60 million per annum of ongoing pre-tax G&A cost savings and synergies (excepting one off restructuring costs) across the combined business.

These G&A cost savings are driven by removal of overlapping activities, by streamlining of operations and via lower Group headcount and contractor staffing. Ophir is in the process of closing five of the eleven offices either owned by the Group, or inherited at the time of the Salamander acquisition in March. The remaining six offices have also been scaled back to reduce costs and improve efficiency.


Balance Sheet

The Group's balance sheet remains strong with $720 million of cash on the balance sheet at end June. Approximately $180 million of the debt acquired with Salamander, principally the Convertible Bonds and $45 million of the Unsecured Bonds, has been repaid since acquisition; resulting in a net cash position of ca. $405 million as at 30 June 2015. The Group plans to review the debt portfolio in the second half of 2015 to capture the improved credit profile of combining the Salamander assets into the broader portfolio.

Group revenue, cash flow and capex are expected to be in line with expectations and the cash at year end 2015 remains as previously forecast at $700-750 million with a net cash position of $350-400 million.

Within the current year's budget, and the three year plan, there is significant financial flexibility. Ophir has only $100 million of contractually committed exploration and appraisal expenditure in the remainder of the 2015 to 2017 period. Furthermore the carrying costs of the Tanzania LNG project are comfortably manageable with around only $40 million of spending across 2H 2015 and 2016.

Ophir's robust financial health and high degree of discretionary expenditure provide the Board with considerable financial and strategic flexibility at this point in the commodity cycle. The Board nevertheless remains committed to disciplined capital allocation and to managing the portfolio to optimise returns to shareholders across the asset life cycle.

Nick Cooper, Chief Executive Officer of Ophir commented:

"This is a tough time in the commodity cycle but Ophir has a strong balance sheet and minimal capex commitments. Our financial flexibility provides a competitive advantage and Management is actively screening opportunities to enhance shareholder returns.

"The integration of Salamander is progressing well: we are delivering cost savings of $60 mm, which exceed the previously identified synergies. Even after the partial deleveraging in the first half of 2015, the cash flow from our producing assets will return Ophir to a similar cash position by end 2016 to that which the Group expected to have had pre-acquisition.

"In its operations, Ophir has had a successful first six months to 2015. We delivered production as forecast and all development activities are progressing to plan. In particular, the Fortuna FLNG development in Equatorial Guinea is passing its mid-stream and FEED milestones, and is significantly de-risked ahead of a mid-2016 FID. All the Group's activities, strategic and operational, underscore our commitment to preserve financial strength and drive growth in NAV per share."

Certainly not holding but interesting to see when the fall gets to an end and then use the cash. Oil prices has fallen heavily this afternoon and the reason for the DOW to drop 166 points
------------

Why Are Ophir Energy Plc, Circle Oil Plc And Tullow Oil plc In A Slump This Week?
By Motley Fool | Wed, 19th August 2015 - 16:05

The oil and gas business is in a slump for sure, but over the past week or so the decline has been accelerating for some in the sector, through no apparent fault of their own.

Look at Ophir Energy, (LSE:OPHR), for example. A broker downgrade at the start of the week possibly triggered the latest fall, with the share price now having lost 23% over the past five trading days, to 88p as I write -- and over 12 months, Ophir stock has crashed by 58%.

The latest dip comes after first-half results released on 13 August, which looked reasonable. Ophir is not expected to deliver any profit this year, and in fact recorded a pre-tax loss of $123m in the half, but it's expected to just exceed break-even in 2016. So, the question is whether the firm has the cash needed to get that far.

Looking safe

And the answer seems to be that it does, easily, with net cash of $392m on its books and CEO Nick Cooper saying that "Ophir continues to differentiate itself through the robustness of its financial position". And if that's not enough, the company was able to complete a $100m buyback of its own shares in the half.

Turning to the smaller oilies, we see the £35m Circle Oil (LSE:COP) in a similar position, with its share price heading further down recently, to bring in a 65% fall over the past 12 months to just 6.2p. Forecasts suggest that Circle will be close to break-even in 2016, so again we're looking at a similar liquidity question.

At year-end in December (not reported until June), Circle told us of total revenues of $85m, down 9% due to falling oil prices, though the firm had available cash of $34.5m -- although net debt was up to $59.2m by the end of May 2015. But with a four-year reserve-based debt facility having been agreed only in March 2014, which could provide up to $100m, and with Circle enjoying relatively low production costs in Egypt, I see no imminent danger.

I'll finish with a look at Tullow Oil (LSE:TLW), which has seen its share price fall 10% in the past five days, and by a whopping 71% in 12 months -- and an eye-watering 86% since February 2012! Tullow has had a couple of painful years, with earnings per share falling by three quarters in 2013, followed by a bone-jarring $2bn pre-tax loss in 2014.

Set for a nice recovery?

But the firm's restructuring and cost-saving was bearing fruit by the mid-way point this year, and though Tullow was facing net debt of $3.6bn, it still had a cash and debt headroom position of $2.3bn. And in an operational update last week, CEO Aidan Heavey told us that Tullow "continues to make good progress [...] with continued emphasis on managing costs, capital expenditure and the balance sheet".

There's a small profit on the cards for Tullow this year, but a significant rise forecast for 2016 would being the P/E down to about 16 -- and a continued recovery could make Tullow a good investment for the stout-hearted.

Time to take stock in @ 90.55p ( 90.40 / 90.70p )

Most oil stocks have move up for the last couple of day but OPHR has been left behind as is forming a bottom on the latest drop.

Today the order book is much stronger now a DEPTH of 97 v 81 and has the up and downs as usual but on the uptrend form on moving over 90p the latest intraday high

funny old stock this
it gets regular puffing press but has signally failed to perform, as of course is common right across the oilie board

whether or not its sector is irrelevant and it's just a good trading stock on chart pattern, as mentor suggests, may be another matter

OIL stocks

How are other shares on the sector are performing today, OPHR is the worse so far
on % terms

OPHR OPHIR ENERGY
+2.18 2.47% 90.12

ENQ ENQUEST
+1.50 4.92% 32.00

GKP GULF KEYSTONE
+3.00 11.11% 30.00

PMO PREMIER OIL
+6.95 7.41% 100.70

Even contracts in the 2022 to 2023 time frame are selling in the $63 range.


http://www.wallstreetdaily.com/2015/08/17/u-s-shale-oil-overproduction/

I don't see any upside in oilers from here to be honest. GLA.

I am looking for a short term bounce not next year or 2022 though $63 would be a 60% rise for the Texas oil

you can not trust MAM this days with the charts or anything else for the purpose

share price gone to 92.05 "AT" as high of the day after making a lovely Intraday BOWL and at the end moving higher than this morning 91.70p

Oil prices

The lows of a ...
..couple days ago $37.55 for light and $42.45 for Brent
are today at best $40.41 for light and $45.07 for Brent
Wednesday Sep 2, 4:25AM EDT
----------------

How small/medium oil stocks are moving today

KEEP an EYE @ 97.80p

1- Company has plenty of cash, recent takeover of Salamander for shares was a good move as their oil can be extracted at a low price.
2- Oil prices are rising fast now so the buying of its own shares a few month back should be a great thing if oil prices keep rising.
2- Chart is looking better as is rising from lows the same as the Indicators ( oversold)

Sold this morning @89.36p for a loss of just over 1p, oil prices keep falling again
put the money at BOX, as it was ready for a bounce as retracement was done

OIL prices falling off the cliff since 3.30pm

Not on the stock, just looking though oil prices too volatile at the moment and there is not much direction, but the chart is looking better again...

had a couple days holding at bottom and as today the oil price is rising by $1 the share price has been moving higher by a good amount.

Oil prices on the rise and with that OPHR

Bought some 83.35p

Looks like today intraday low 80.50p could be the low and double bottom. Oil prices on the rise

Double bottom

Why UP today?............ Double bottom
When the share price was as an Intraday low, it was much at the same price as last September lows, representing a double bottom on the chart. At the same time the Oil price started to climb from the recent lows that in a way was also much the same lows as last September, so also double bottom for the Oil price.

87.65p +3.05p +3.61%

Best rising stock of the mid to large size today

A spike to 96p and then Order book has been decimated of trades so down. Spikes do not last but gives you and indication of where is going

order book is building itself again on the bid side but still negative on the DEPTH 53 v 72
now 91.60p +7p

games played most likely by shorters at top of spike, placed large orders on the offer side making it negative at very high prices, naturally with no intention of selling

orders place at offer side after spike from 10:48am to 11:06am
Price - size - time
100p 5,906 10:56
100p 20,330 11:00
101p 17,737 10:52
102p 10,000 10:48
103.6p 15,000 11:06
105.8p 3,000 10:55
107p 25,000 10:52
110p 9,0000 7:55
110p 20,218 10:53
110.5p 30,000 10:53
112p 15,000 10:48
135p 11,4380 7:55
145p 1,0000 7:55

From the Telegraph

By Tara Cunningham, Business Reporter 11:59AM GMT 25 Nov 2015

Shares in FTSE 250 oil and gas explorer Ophir Energy have surged by more than 11pc amid reports it has become a takeover target.
According to reports, the UK-listed oil group, which is active in Africa, received informal takeover and merger interest from a number of possible suitors amid a slump in oil prices.
While no decision has been made, it has been purported the mid-cap group is at an early stage of its deliberations after approaches from both financial investors and other companies.
So far this year, shares in Ophir have plunged 36pc, as the sharp decline in the price of oil took its toll on the group.

Following the merger chatter, Connor Campbell, of SpreadEx, said: “In the continually bleak landscape of the current commodity crunch it makes sense that some of the sector’s peripheral players would be the target of takeover talk
“The reports couldn’t have come at a better time for Ophir; having steadily been approaching the 78p nadir it hit in September.”

Meanwhile, Lee Wild, of Interactive Investor, said Ophir attempted to merge with Premier Oil last year but was turned down, only to pay £314m for Salamander Energy months later.
"It would come as no surprise to see the likes of Ophir jumping into bed with rival operators. Further M&A is increasingly likely in the sector," Mr Wild added.
Earlier this year, Ophir, which was founded 11 years ago, offloaded a 20pc stake in three gas blocks in offshore Tanzania for $1.3bn. The group only held a portfolio of exploration assets in Africa until last year, when it expanded into southeast Asia.
The FTSE 250 group has low debt levels and it became revenue and operating cash flow generative earlier this year when it completed the acquisition of Salamander Energy.

Initiating coverage with a “neutral” rating earlier this month, analysts at Davy said Ophir has shown “good form in the past”.
However, the broker warned: “Divestment will be more difficult in a lower commodity price environment.
“We do not believe Ophir’s projects are currently resilient or robust to attract co-investors.”
The stock was trading 7.6pc higher at 91p before mid-day.

Well done mentor .

Another good rise today, now 96p +5p

2 days movement

Top up at 96.17p, once broke twice resistance 96p, yesterday and again today

Looking for 100p now very close already

A sudden movement up this morning as a TR1 is released from Black Rock where there is an increased on holdings from 29M to 43M on the 26th, last week.

Close positions at 100.20p with over 2 week spare or T +14

tired of all day 1p movement

@ 96.30p - 3.70p was the UT

Save by the bell, well not save by 1 day
I did have in mind to close a couple days before tomorrow's OPEC meeting.
Further oil price weakness did not help on today's fall

After being over 104p it finished at 94.65p after the OPEC meeting last Friday

"Ophir Energy (LON:OPHR), up 7.2%. Broker Jefferies upgraded the stock yesterday while today it was reported that the number of shares borrowed by short sellers – traders who sell shares they do not own in the hope of buying them back cheaper later – has reduced by 18%."

http://www.intercooleronline.com/stocks/ophir-energy-plc-ophr-price-target-increased-to-gbx-105-by-analysts-at-jefferies-group/276361/

89p +2p

Ophir Energy plc
Heads of Agreements signed for sale of gas and Capex reductions for Fortuna FLNG

Ophir Energy announces that it has signed Heads of Agreements ("HoAs") for LNG offtake from the Fortuna FLNG project with six counterparties, all of whom are established LNG buyers in European and Asian markets.

Furthermore, the Management estimate of the gross capital expenditure required to first gas has been revised downwards from $800 million to $600 million (i.e. from $640 million to $480 million net to Ophir's 80% working interest) based on recent input from the ongoing upstream FEED work.

Ophir is selling 2.2 MTPA of LNG offtake, however the total demand requested under the HoAs has seen the offtake sold several times over. The HoAs are based on a variety of different pricing constructs with formulae that consist of either European gas market netbacks, oil indexation or a combination of both and that in some cases include the provision of a floor price. Offtake under several of the HoAs also incorporates a sharing of incremental diversion income earned above the base contract formula for LNG volumes that are subsequently sold into higher value markets.

As well as pricing structure, Ophir has secured additional elements to its LNG offtake HoAs that are significant for the development of the project. These include the offer to pre-pay for LNG volumes in substantial quantities over the early years of the contract. The funds received from pre-payments could cover 30%-50% of Ophir's total net cost to first gas and could therefore be a major contributor towards funding of the project.

The Upstream FEED process is presently c. 50% complete and as a result Management is able to refine and reduce the remaining upstream cost to first gas. The project has been able to capitalise on the deflationary cost environment and has been redesigned to increase standardisation of components wherever possible. Accordingly the current Management estimate for gross cost to first gas has reduced c. 25% from previous guidance to c. $600 million ($480 million net).

Separately, Ophir has contracted Fugro to perform geotechnical, environmental and metocean surveys for the Fortuna project. The Fugro Searcher, Fugro Scout, and Fugro Frontier vessels have been deployed for this work, which is scheduled for completion in January 2016.

Taken a punt on the stock again @78p

The chart look very good as the share price has reached the lower Band on the Bollinger Bands ( buy time ) and Indicators at oversold or close to it. Also it seems a bottom has been established for the last couple days on the chart

A marked down to 76.20p at the opening as the market was over 70 points lower, but soon recover with a large spike to 78.40p.
needs a bit of consolidation now.

mentor - if you're in touch with this company, you may like to enquire as to whether or not they have a stake in Helium One