This announcement sets out the disclosure required by section 430(2B) of the Companies Act 2006 in relation to the departure of Nicholas Cooper from Ophir Energy plc (the “Company”).
Ophir provides the following update on its trading and operations for the six-month period ending 30 June 2018.
Ophir has prepared the following report in respect of payments made to governments during the year ended 31 December 2017.
We note the announcement by Golar LNG Partners’ regarding the dissolution of its OneLNG joint venture with Schlumberger. Whilst it is disappointing that Schlumberger will no longer be part of the partnership group, Golar and Ophir remain actively engaged in senior level discussions with a number of counterparties over a financing solution for the project.
The Board of Ophir (the “Board”) announces that, by mutual agreement, Dr Nicholas (Nick) Cooper the current Chief Executive Officer and Executive Director, has stepped down from the Board with immediate effect. Nick will remain an employee of the Company at this time and will be leaving the Company after a short handover period. Mr Alan Booth, currently a non-executive director of the Company, has been appointed as Interim Chief Executive Officer and Executive Director, until a new Chief Executive Officer is appointed.
Ophir Energy plc held its Annual General Meeting today, 16 May 2018, at Linklaters LLP, 1 Silk Street, London, EC2Y 8HQ. All resolutions were put to the meeting on a poll, the full results of which are given below.
Ophir announces that it has entered into a farm-out agreement with Kosmos Energy (“Kosmos”) covering the EG-24 exploration licence in Equatorial Guinea.
Ophir has agreed to acquire a package of Southeast Asian assets from Santos Limited, an Australian listed Oil & Gas company, for an aggregate cash consideration of $205 million pre-working capital adjustments, subject to certain approvals (the “Transaction”). The portfolio of assets includes material producing assets in Vietnam and Indonesia plus exploration and appraisal assets in Malaysia, Vietnam and Bangladesh.
2017 saw Ophir take important steps to adapt and right-size the business, meet key operational targets and replenish our exploration portfolio. Nevertheless, we are disappointed to have not yet achieved the Fortuna project FID despite having made significant progress on the project.
Ophir is pleased to announce that, together with its joint venture partners, it has been awarded Block 10 and Block 12 as part of the Mexico offshore bid round 2.4.