Davy Research

Ophir Energy

FY 2017 guidance unchanged; Fortuna sanction anticipated in Q4
Resource
Ophir Energy

DAVY VIEW

Ophir’s interim results are largely as expected, while guidance for the full year is unchanged from that provided in the trading update in July. Financing for the Fortuna gas development project remains to be completed and management anticipates that it will be concluded ahead of project sanction in Q4 2017. We stick with our ‘Neutral’ rating on Ophir as we remain nervous about the financing of Fortuna, with capital for oil and gas projects still scarce and costly.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Ophir Energy

    Closing Price: 99.2p

  • RATING 20/11/15

  • PREVIOUS RATING N/A

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