Was Temasek scammed of $1.6 billion?

In January 2013, Temasek director Glenn Corrie informed the company that he would be joining “Ophir Energy Plc as a commercial director based in London”. (“Director of energy investments at Temasek Holdings resigns“)

Coincidentally or otherwise,Temasek purchased a 20% interest in Tanzanian Blocks 1,3 and 4 from … Ophir Energy Plc for $1.6 billion 10 months later.

Ophir’s share price has since collapsed and it appears that Temasek has lost the entire investment of $1.6 billion.

Was Temasek scammed?

This entry was posted in TEMASEK, TEMASEK'S POCK KAI INVESTMENTS. Bookmark the permalink.

2 Responses to Was Temasek scammed of $1.6 billion?

  1. Anon says:

    Bro, Temasek bought 20% stake in the Tanzania gas field venture, not Ophir’s share. Take note.

    • Phillip Ang says:

      “Ophir will remain a significant investor going forward in Tanzania through its continued stake in the Joint Venture ..”. If they had found gas, the price of their shares would have shot through the roof.

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