Continental Focus, International Reach

Ophir and Medco in Takeover Talks

Thursday, January 3, 2019

Ophir Energy and Medco Energi Global are in discussions regarding a possible cash offer to be made by Medco. The cash offer would be for Ophir’s entire issued and to be issued share capital.

Medco is a leading Southeast Asian energy and natural resources company listed on the Jakarta Stock Exchange with a market capitalization of approximately $900 million, operating across three key business segments being oil, gas, power, and mining.

Shares in Ophir Energy rose by as much as 35% upon the news of the takeover talks. The merger would add Ophir’s 25,000 boepd to Medco’s approximately 85,000 boepd, with most of this coming from south-east Asia.