I told myself I'd think about it on the short walk to work ... during which I decided to top up at 420GBX ... only to find that it's bounced off 419.94GBX back to 427GBX ... you won't begrudge me being 0.06 pence out will you?
My thinking this morning is that 420GBX seems solid support and players will want to take their positions by the end of this week with a view on results the end of the week after. Based on that, 420GBX is a great top up. Having missed that opportunity, 426GBX (~1.4% above support) will do me just fine.
Problem is timing. I want some SXX this week (analysis results on SM2 on Wednesday) and I was going to use my SOU money to do that ... but that is shooting up on no (public) news.
Hmph. You wait for an opportunity and two come at once. I'm going to return for (hopefully) another positive spell with SXX and then use that money for an OPHR top up at the end of the week.
However, if it wasn't for SXX I'd plough cash into OPHR right now.
Had tickets to go from a friend. We were Open bound,the full monty,hospitality overload;and then it rained.Day was a washout, never did get ernie ells autograph. This year for sure.
I plan to follow 10-4s route and have a cheeky wee top up, but I don't think it will drop to 390,not after reading the Times article. I took a huge bundle over from and I know this is going to make us all a bigger bundle, this sp ain't going to hang around for to much longer IMHO . Going on my gut feeling, we shall see.
It's going to be an interesting few weeks/months
You certainly did a good job of raising the times sales I went straight out and got one as soon as i seen your post, as an old DPLer I am not sure what we have found exactly at ophir, so how do the times report come to £13.84 exactly why not £12-£14 if all produce just seems a bit like we know something to me, dont get me wrong I would absolutely love it if the price were £13.84 added as the article says, to the price making it £18.11. I,ve a chance of redundency but got to wait 4 years and lose half of my pension before I can get it but if OPHIR get to £10 in next 2 years I will be home and dry should I stay or should I go. ps Barley Baron will be up castle stewart for the open this year testing the area for the big BBQ hope its not as wet as last year. cheers Hossyed......
Thanks XXNJR: "The company is drilling the first of five wells off Tanzania, and will reveal results within two weeks."
I received the following from Ophir last week:
"We will be releasing our annual results on March 21st. Details on our upcoming plans and an updated investor presentation will be available through our website at that time."
Coincidence? Nah ...
We're in new territory but I'd suggest there's first support at 420GBX and second at 378GBX. I'm happy where we are but should we drop to >390 then I'll top up with some day-trading cash. All in time for some results and further details on drills.
Me thinks that March is the start of something good ...
if Cove does get gobbled up for a big price, it bodes well for Ophir.
The company holds a lot more acreage, and bigger stakes of the blocks where it has interests. The firm has already uncovered about 4 trillion cubic feet of gas, almost enough to justify building a plant to super-chill the gas into liquid form so that it can be shipped to fuel-hungry Asian customers.
The company is drilling the first of five wells off Tanzania, and will reveal results within two weeks.
It also plans seismic mapping of a large area of sea bed over the border from the big Mozambique finds. Once done this summer, Ophir will have a good idea of whether the basin where others hit pay dirt extends into its block.
Nick Cooper, the chief executive, said: The Mozambique resource is going to be huge, almost on a Middle East scale. It kind of caught us flat-footed, and now were running hard to see if we can copy what they have done in Tanzania.
Ophir will have to deliver on the potential that investors are getting excited about. Nomura, for example, said the five Tanzanian wells, plus three planned off Equatorial Guinea this year, could add £13.84 to the companys share price three times its current market value.
Even if just a few of the wells come good, investors will be singing the praises of Ophirs decision to venture into the East African wilds. As analysts at RBC Capital Markets wrote recently: Cove demonstrates that if you build it, Big Oil will come.
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