Exploration Portfolio Refocus and Renewal
Ophir has made significant progress in rationalising its exploration portfolio in recent months to focus solely on assets that are appropriate in the new, lower commodity price environment. Ophir has therefore exited, or is in the process of exiting, eight licences across Africa and Asia and has agreed terms to enter new licences in Cote D’Ivoire and Malaysia, subject to final approvals. Further high grading of the exploration portfolio is expected during 2016 as Ophir concentrates its efforts on plays that can deliver transformational and, importantly, monetise-able upside at current prices.
