Ophir Energy rejects Medco’s £343m offer, saying price is too low January 14, 2019 Shares in Ophir Energy fell 2.2 per cent this morning as the company’s board rejected a takeover bid from Medco Global. The company’s directors unanimously decided to reject the 48.5p per share bid from Medco, claiming it undervalues Ophir. Although it represents a 46 per cent premium on Ophir’s share price when the bid was [...]
Ophir shares soar as it catches the eye of Indonesian giant Medco January 2, 2019 Medco’s potential bid for London-listed Ophir Energy would create a strong player in south east Asia, but could fall through over price disagreements, analysts said today. Ophir's stock surged this morning after confirming talks with Medco over a potential offer for the business. Shares rose by around a third to as high as 50.8p per share today, [...]
Ophir Energy share price rises as oil and gas firm plans to use Salamander cash to fund further exploration if deal goes through November 3, 2014 Oil and gas exploration company Ophir Energy has confirmed that it is still in discussions concerning a bid for Salamander Energy. Ophir said in an announcement to the stock exchange that it will remain an exploration-led upstream company and plans to fund further exploration through cash flow from Salamander’s current production. Ophir stated that it [...]
Ophir ready to snap Salamander up if sale to Sona falls through October 26, 2014 Oil firm Ophir Energy is preparing a takeover bid for London-listed Salamander Energy, in competition with Spanish energy company Cepsa. The offers could value Salamander at more than £275m. Salamander was up for sale earlier this year, but took itself off the market and instead agreed in June to sell a 40 per cent interest [...]
Ophir Energy cuts its board to reduce its costs August 28, 2014 FTSE 250-listed upstream oil and gas explorer Ophir Energy shook up its board yesterday with a major restructuring. It is seeking to cut costs across all levels of the organisation. The oil explorer, founded in 2004, will slim down its board, with the number of executive directors cut down to two from three currently, and [...]
Ophir Energy lands new gas discovery June 4, 2014 Africa-focused explorer Ophir Energy has announced a new gas discovery in Tanzania. The Taachui-1 well was drilled by the Deepsea Metro I drillship . The well encountered gas in a single gross column of 289m within the targeted Cretaceous reservoir interval. The observed reservoir properties are in-line with those encountered at Mzia well. The size [...]
Ophir Energy slides after failing to discover oil or gas off Gabon May 27, 2014 SHARES in Ophir Energy slumped six per cent in early trading yesterday, after the Africa-focused explorer said it had failed to discover any significant oil or gas at a well located off Gabon. The FTSE 250-quoted firm said the Affanga Deep-1 well in the Gnondo Block encountered thinner than expected sandstone sections with poor reservoir [...]
Ophir Energy confirms spurned approach for rival Premier Oil April 28, 2014 OPHIR Energy yesterday confirmed it made a takeover approach for FTSE 250 peer Premier Oil, which would have created a £3bn combined oil and gas explorer, but its rival rejected the proposal. “The Ophir board believed that merging the two businesses provided the potential to create a well-funded, re-focussed, full cycle exploration and production company. [...]
Premier board rejects Ophir merger proposal April 28, 2014 Africa-focused oil company Ophir Energy has confirmed that its approach to Premier Oil for a merger between the two companies was rejected. Ophir Energy believed that a merger would create the potential for a "well-funded, re-focussed, full cycle Exploration and Production company." Such a merger would have created a company with market capitalisation of more [...]
Ophir Energy surges on Tanzania sell-off March 20, 2014 OPHIR Energy’s share price climbed over three per cent yesterday, despite the oil and gas explorer posting wider annual losses. Net loss after tax hit $245.8m (£149m) in 2013, compared to $40.7m in 2012, reflecting writedowns on assets in Tanzania and exploration write-offs in Ghana, Madagascar, Congo and Kenya. But the FTSE 250 company confirmed [...]