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