Ophir Energy Live Discussion

CharlieHarper 26 Feb 2019

Will we see block 5 spud? Drill bits turning, dice are rolling, will it affect the sale of Ophir Energy…only if they tell the truth or press the sell button on the slightest inclination of oil from the wire logging. The ladys front bottoms in charge of Ophir will be well and truly greased up if that news ever quietly surfaces. Murphy spins drillbit at Cholula off Mexico Kathrine Schmidt 21 Feb 2019 230 GMT Murphy Oil is drilling ahead at its Cholula well off Mexico, a key test in the country’s offshore Salina basin, which has been prolific in shallow waters but remains little explored in its deeper areas, writes Kathrine Schmidt. The US independent confirmed to Upstream that operations at the well began earlier in the month. Work on the probe is being carried out by the drillship Transocean Deepwater Asgard. According to Mexico’s National Hydrocarbons Commission (CNH) oil regulator, the well is targeting a resource of between 200 million and 500 million barrels of oil equivalent, and is being drilled in about 750 metres of water some 120 kilometres off Tabasco state. It will target Middle and Lower Miocene objectives, with a planned total depth of 4000 metres, according to the CNH. Murphy operates Block 5 with a 30% stake and is partnered by Malaysia’s Petronas, UK independent Ophir Energy and Mexican private equity outfit Sierra Oil & Gas, which has struck a deal to be acquired by Germany’s DEA. Murphy was approved last year for the $90 million work programme at the block. If successful, the partners could opt to drill a delineation well, bringing the investment closer to $158 million. The well is one of multiple long-awaited tests stemming from areas awarded in Mexico’s first set of deep-water blocks handed to private operators in 2016, which have finally resulted in operations this year. BHP started off the year by drilling an appraisal to Pemex’s Trion discovery with the Transocean drillship Deepwater Invictus, which is expected to return to Mexico later in the year after completing a programme off Trinidad. Total is also understood to be under way with work at its Etzil well in Block 2 on the Perdido fold-belt with the drillship Rowan Rennaissance, where it is partnered by ExxonMobil. Murphy drilling ahead at Cholula Work for potential play-opening wildcat being completed by Transocean Deepwater Asgard Kathrine Schmidt 20 Feb 2019 178 GMT Updated 20 Feb 2019 17:11 GMT Murphy Oil is drilling ahead at its Cholula well off Mexico, a key test in the country’s offshore Salina basin which has been prolific in shallow waters but remains little explored in its deeper waters. The US independent confirmed to Upstream that operations at the well began earlier in the month. Work on the probe is being carried out by the drillship Transocean Deepwater Asgard. According to Mexico’s National Hydrocarbons Commission oil regulator, the well is targeting a resource of between 200 million and 500 million barrels of oil equivalent, and is being drilled in about 750 metres of water some 120 kilometres off Tabasco state. It will target middle and lower Miocene objectives, with a planned total depth of 4000 metres, according to the CNH. Murphy operates Block 5 in the Salina basin with a 30% stake, and is partnered by Malaysia’s Petronas, the UK"s Ophir Energy and Mexican private equity outfit Sierra Oil & Gas, which has struck a deal to be acquired by Dea. Murphy was approved last year for the $90 million work programme at the block. If successful, the partners could opt to drill a delineation well, bringing the investment closer to $158 million. The well is one of multiple long-awaited tests stemming from areas awarded in Mexico’s first set of deep-water blocks awarded to private operators in 2016 that have finally resulted in operations this year. BHP started off the year by drilling an appraisal to Pemex’s Trion discovery with the Transocean drillship Deepwater Invictus, which is expected to return to Mexico later in the year after completing a programme off Trinidad. That well under a farm-out agreement with Pemex was the first deep-water probe to be drilled off Mexico by a non-state operator. Total is also under way with work at its Etzil well in Block 2 on the Perdido fold-belt with the drillship Rowan Rennaissance, where it is partnered by ExxonMobil. Petronas has also booked that rig starting in March for a one-well contract, presumably at its operated Block 4 in the Salina basin, which is its only block in Mexico to have an approved exploration plan. The Malaysian player is opting to proceed with the drilling despite not having a well commitment on the block. Other deep-water drilling in Mexico for 2019 – which is already becoming a banner year for exploration in the country – could include wells by CNOOC on Blocks 1 and 4 in the Perdido fold-belt as well as Equinor in Block 1 of the Salina basin late in the year, other blocks from the initial Round 1.4. Westwood Global Energy commented to Upstream on the geology of the Murphy-operated Block 5, which lies about 30 kilometres north of the Talos-operated Zama discovery in the Deep Campeche Salt Basin. The well is believed to be “attempting to extend the Miocene clastic play proven at Zama northwards into deeper water,” analyst Vikesh Mistry told Upstream. “There are some important geological differences between shallow water Zama (Block 7) and Cholula (Block 5), with more complex salt tectonics and hydrocarbon migration pathways and with seismic imaging challenges also. It could take several wells to prove this play in the deep-water Campeche Salt Basin.” The Petronas target on Block 4 is believed to be a different play, a carbonate objective. Petronas rigged up for Mexico Malaysian NOC set to drill deep-water prospect starting in the next quarter Russell Searancke 13 Feb 2019 04:29 GMT Updated 13 Feb 2019 160 GMT Malaysian national oil company Petronas has hired an ultra-deep water drillship owned by US driller Rowan for a one-well programnme off Mexico. Rowan said the Rowan Renaissance, an R-Class ultra-deep water drillship, would work for Petronas for an estimated 80 days starting in the second quarter of 2019. Petronas also has a one-well priced option with an estimated duration of 80 days. The drillship is currently under contract to Total in the offshore Mexico play until about March 2019, where the French supermajor is drilling the Eztil-1 well in the Perdido fold-belt. The move comes as something as a surprise given that the only block where Petronas currently has an exploration plan approved is Block 4 in the Salina Basin from Mexico’s Round 1.4, where the company does not have a well commitment. However Petronas is also partnered with Murphy Oil in the adjacent Block 5 where the US independent has been planning for some time to drill its Cholula well, which is set to spud shortly. That means the region could see two potentially play-opening wells go down in the Salina basin in the coming months, instead of just one. More work in the Salina basin, which has intrigued geologists but has yet to be proven as a deep-water play, is planned for the region in later rounds, but the regulatory groundwork there is still being completed. And the success enjoyed in the block just south of our block 5… [link] best of luck

Ripley94 26 Feb 2019

Soco International. OPHR… XXXX Went above offer price today to 56p

Ripley94 24 Feb 2019

Soco International. OPHR… XXXX Posts on here saying not worth holding out for more then 55p. Although being aware from lse site that large investor Petrus is not happy and has requested in writing a higher offer should looked for. This offer might be withdrawn ? That would be a good reason to sell short term ? But what is the rational for selling now if you think it will not be withdrawn ?

BarleyBaron 21 Feb 2019

Eleven Bob Good find Chummer. I do hope Hannam is politically motivated and good at disrupting a process, just like the numpties on brexit. I don’t think they will get the 75% they need. I think 55p is a joke of an offer and the way the BoD have behaved is not on. Having Hannam come out and say ‘slow down’ is a good thing in my eyes. Probably not have the desired effect but I reckon 75% is going to be a struggle. Just for once I would like to make a investment in a company with a bright future from the start and good prospects going forward and not have it pawned off for cheap. I don’t trust any of them anymore but I would like to see them get their fingers out and try to give us a bit more share holder value or whatever buzz word they use now. Sorry, im cross. B.

chummer 21 Feb 2019

Eleven Bob [link]

vprt 20 Feb 2019

Will we see block 5 spud? Yes, the drilling on the Mexico Block 5 well has just been started - Cholula is the well name - according to Upstream: Upstream Online | Latest oil and gas news – 20 Feb 19 Murphy drilling ahead at Cholula Work for potential play-opening wildcat being completed by Transocean Deepwater Asgard

CharlieHarper 20 Feb 2019

Eleven Bob Some will increase their position so they can influence any future decisions better. Share thresholds, company %'s to accept/deny any future sale or future production entity control…maybe the company sp would be worth x 10 a year from now with the right people in charge. Imagine those with a new vested interest in Ophir picking up block R again for buttons on April fools day, success in block 5 GOM, installing a new chairman and board and turning future investments into a success at an entry of around 10 bob a share? Trickier than a bag of monkeys these guys…or maybe they just want an extra 10p per share the now. We’ll soon know… best of luck

chummer 19 Feb 2019

Eleven Bob Can someone please explain why organisers like bank of America, Goldman, etc are upping their investments in Ophir?

CharlieHarper 07 Feb 2019

Will we see block 5 spud? Hi BB Its as if we’re dealing with civil servants… Mozambique on the dark continent hasn’t paid the trouser rat his share(trump)so i would imagine unless all the fingers in all the pies get their pudding there will be a mass of wonky wonga shenanigans for decades to come as these countries have no real power. You just have to look at Qatar who finally paid/agreed their quota($24bn)in arms/goods acquisitions to the trouser trumpet to up their gas output by around 30% taking up the demand slack and all their problems at the time melted away, same as the arms/goods deals all around the middle east(world)for the nations too scared to stand up to the good ol’ us of a. You can tell the countries who don’t play ball globally with uncle sam they endure all the comforts of food, medicine, water and energy shortages along with civil war(unrest). The game’s afoot for the gas reserves on the dark continent, think it has a long way to go. The Chinese are the only fly in the ointment but they’re feeling the pinch too at the moment or they’re waiting to pick up the reserves for next to nothing. Ophir, i did say a while ago to P we could be sold for our debt but we bought the Santos assets and upped our production a little which left some face and a bid of 55p on the table it could have been a lot worse. I think we’re done…but i’m usually wrong here lol. best of luck

BarleyBaron 06 Feb 2019

Will we see block 5 spud? CH. Now I know how the shareholders of Salamander feel. Betrayed. Just to rub in the pain even more, I gather that Centrica and Tokyo Gas will buy 2.6m tonnes of liquefied natural gas a year from Mozambique, until the early 2040’s. Decision by Anadarko later this year. Looks like any movement from Tanz is going to be a long way away. And now EG being offered out in April. I would really like to know what the beejesus is going on in the minds of the people running Ophir. Anyway, still hoping this sale falls flat on its face. Angry Baron.

CharlieHarper 05 Feb 2019

Will we see block 5 spud? Who’ll pick over our carcass in April? Marathon oil maybe… U.K. – 5 Feb 19 Equatorial Guinea to offer Ophir's old oil and gas block in April... Equatorial Guinea will offer offshore Block R with the related Fortuna gas devel... best of luck

CharlieHarper 03 Feb 2019

Will we see block 5 spud? Kick the sale into touch until after the block 5 well guys, the pi’s deserve one last role of the dice. “Texas-based Murphy Oil said it would be spudding an exploration well in area 5 of Mexico’s Salina basin in the coming weeks. Murphy operates the well for a consortium of Ophir, PC Carigali and Sierra Oil & Gas, having won…” [link] best of luck

CharlieHarper 31 Jan 2019

Eleven Bob hannahxyz over the last couple of years(4-5)the exact opposite has appened here from what i thought…so, i think its all over bar the shouting…55 would only be a good number for me in May best of luck

BarleyBaron 31 Jan 2019

Eleven Bob Vprt-hanna. Dont quote me on this but im sure i heard it requires 75% of shareholders to agree before we are asked to bend over and assume the position. I hope and pray that the institutions who have bought in can see a clearer view going forward, not like our spineless blinckered board. It sounds and feels like they have no patience or will to run this company. You just never know, shareholders might not be so keen to sell , not at this price. Must dash, holding on in the hope common sense prevails. Baron.

vprt 31 Jan 2019

Eleven Bob Plenty of beer - dark or not - needed to drown our sorrows here. hannahxyz, I have the same question - is there still hope of more than 55p? If anyone can prove that there is zero hope, please share! I have not read all the small print - but it seems still to be possible for an alternative bidder to be attracted, although the probability might be much less than 50% - especially as it trades at ca 54p rather than 56p+. Have Medco secured any shares beyond the small number held by the board? My guess is that the company remains “in play”, and that some of the shareholders (rather than the board, whose hands are tied) are trying to drum up some interest from others. The hedge funds and activists (e.g. Petrus who recently got their nominee onto the board, and have been buying more shares) may be betting on this. I am not saying an alternative bidde is likely to emerge, but I have held for a long time, and would hate so sell out at 54p just before a higher bid, so I am being patient for the time being. Would love to see the price creeping up above 55p to give more hope of this (admittedly optimistic) scenario playing out…