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%
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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.