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