Kulczyk sells out of Ophir

Polish businessman Jan Kulczyk has sold his 8% stake in Ophir Energy as the company approaches the development stage on two big projects. Founding shareholder Kulczyk sold 56.6m shares on 28 April at 140p/share, well below the 250p price at which the stock launched in 2011. Ophir plans to develop 3.4tcf of gas on Equatorial Guinea Block R via a floating liquefied natural gas development, but says it will need to bring in a partner before a final investment decision.