FY17 production stood at 11,700 boe/d in line with guidance of 12,000 boe/d (GMP FEe: 11,950 boe/d). FY17 capex was US$104 mm, well below guidance of US$160 mm as spending on Fortuna is deferred to 2018. The company held net cash of US$107 mm at the end of the year (GMP FEe: US$66 mm reflecting our expectations of higher capex). FY18 production is forecast at 11.5 mboe/d (GMP FEe: 12.6 mboe/d) with continuing unpredictability of offtake nomination from Sinphuhorm. The company plans to spend U
16 Jan 2018
FLASH: Operating update and FY18 outlook
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FLASH: Operating update and FY18 outlook
Ophir Energy (OPHR:LON) | 0 0 1.6% | Mkt Cap: 402.5m
- Published:
16 Jan 2018 -
Author:
Stephane Foucaud -
Pages:
2
FY17 production stood at 11,700 boe/d in line with guidance of 12,000 boe/d (GMP FEe: 11,950 boe/d). FY17 capex was US$104 mm, well below guidance of US$160 mm as spending on Fortuna is deferred to 2018. The company held net cash of US$107 mm at the end of the year (GMP FEe: US$66 mm reflecting our expectations of higher capex). FY18 production is forecast at 11.5 mboe/d (GMP FEe: 12.6 mboe/d) with continuing unpredictability of offtake nomination from Sinphuhorm. The company plans to spend U