OPHR.L - Ophir Energy

[cameronfen]

Hi,

 

This company looks undervalued.  I'ts an oil and gas company that has interests in Africa.  The short story is it sold half of its Tanzania joint venture assets for 1.2 billion dollars.  1.2*2+.225 (net cash) approximately equals it's market cap.  It has a boatload of other assets but all its resources are contingent and prospective (2.7 bboe not including Tanzania JV), I don't know how much they are worth and I'd like to get someone who knows a little more about oil and gas companies to take a look (especially contingent and prospective reserves). 

 

I wrote about it a little here (I still haven't done much research): http://dynamiteinvestor.wordpress.com/2014/03/26/ophir-energy-lon-ophr/