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
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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