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