Shares rocket in Ophir En­ergy

Yorkshire Post - Business - - BUSINESS / NEWS -

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Shares in Lon­don­listed Ophir En­ergy rock­eted on Wed­nes­day af­ter it con­firmed it has re­ceived a takeover of­fer from In­done­sia’s Medco. Ophir said that they are in dis­cus­sions about a cash of­fer, but there could be “no cer­tainty” that a firm of­fer will be made. Medco has un­til Jan­uary 28 to make a firm of­fer. Ophir is an up­stream gas and oil ex­plo­ration and pro­duc­tion com­pany fo­cused on Africa and Asia. In In­done­sia, it holds a 45 per cent par­tic­i­pat­ing in­ter­est in the Sam­pang pro­duc­tion-shar­ing con­tract. Ophir shares were up 25 per cent to 44.6p in af­ter­noon trade.

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