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3.6¢ octanex limited

Ann: Ophir Field Operation Update, page-14

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417 Posts.

47

28/01/18

15:38

Post #: 30612016
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Originally posted by rivermore ↑

Something pretty suspect going on I think. Scomi Energy are one of our jv partners in Ophir, the other being Vestigo (Petronas). Scomi minority shareholders just rejected a merger with 67% major shareholder (Scomi Group) but in spite of the advice to ASX re the FPSO power problem, the Scomi Energy price has jumped by over 60% over the past two weeks. My point is that the knowledge of Ophir issues would be known within Malaysia (workers and contractors are largely from KL) and ppl obviously aren't too concerned. Ophir should be making good money atm due to high Brent / Tapis plus additional margin for light grade oil.

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It does concern me River that the non routine shut down was announced on the 8th of Jan as a price sensitive announcement yet we haven’t had an announcement that production has restarted...

Agreed the oil revenue should be awesome at the moment compared to budget but only if the oil is getting extracted.

OXX Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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