Ophir Energy Plc (LON:OPHR) shares have been tipped by Macquarie to rise to 95p, from 74.68p currently, as the Fortuna project advances towards an anticipated final investment decision in the first half of 2017.
It's been a turbulent year for investors in Asia and Africa-focused gas and oil explorer Ophir Energy (LSE: OPHR). First, they had to endure January's market storms, which hammered its share price along with everybody else's.
In 2012, Tullow Oil (LSE: TLW) recorded a pre-tax profit of over $1.1bn. However, in the last two years it has made combined losses of over $3.3bn, which shows just how challenging the oil and gas industry has become.