Shares rocket in Ophir Energy
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.