Lekoil Share Discussion Threads

[technowiz] 18/3/2023 09:44

new ticker code FNK
thread moved to:

[marky27] 28/12/2022 21:25

correct, nigeria most corrupt country in africa, africa most corrupt continent in the world, i was warned never invest in africa! all we can do is hope! gla

[geckotheglorious] 28/12/2022 15:44

Irexit.
"The new Board is made up with experienced people from Nigeria. I presume in due course we may expect good news on oil investment in Nigeria."


Roflmao.

They'll be suitably remunerated that's for sure!!

As to shareholders getting a piece of the action.

Two hopes. one's called Bob.

This has been one big scam, the old CEO's activities, refusal to repay borrowings, being highly questionable. ie dishonest.

Shareholders have been hosed in similar fashion as Afren shareholders were.

Never invest in Nigeria is my motto

[irexit] 27/12/2022 12:04

The new Board is made up with experienced people from Nigeria. I presume in due course we may expect good news on oil investment in Nigeria. The company can raise funds to acquire good cash producing oil fields. I believe ultimately if Directors remuneration and fees are kept to a minimum, we should see great potential in the future. Fingers crossed

[technowiz] 09/12/2022 16:13

who benefits the most out of this? are shareholders going to get anything? will shares still be trading or we are to get some cash payment?

[geckotheglorious] 08/12/2022 15:00

Nigerian scam in a nutshell.
Glanced through the announcement. Looks as if shareholders of LekOil have been screwed.

[bri15] 08/12/2022 11:52

But are our blinking shares worth anything,or have we lost the lot.

[zengas] 08/12/2022 10:23

So Lekoil PLC subject to shareholder approval is restructured and will be listed still on Aqse as Fenikso ltd.

It will have no assets other than the $51.9m loan due to it from regular oil liftings at Lekoil Nigeria as loan repayment.

25% of that loan repayment will go to Save which is $13m.

The maximum Save will get is $16.3m ie $3.3m above the loan repayments. These include certain upfront payments and may include loan interest (not sure) in making up that $16.3m maximum which includes I believe their $1m option agreement payment though this might not have actually been paid at the time.

So you should now have Lekoil PLC renaming as Fenikso with no assets other than a net approx $30-34m due to it after all other loans/costs/dues to be paid. Save with one non exec remaining at Fenikso.

Is it worth a buy out now at a discount as a shell for anyone to get their hands on that income stream post restructure shareholder approval ?

Saves interest appeared geared to OPL 310. Optimum held at least 60% and were trying to farm out. Lekoil held 17.14% via the Mayfair loan. There is a further 22.86% either retained by Optimum or in dispute with Afren/Lekoil - has this been sorted ? We won’t know but this is something that Optimum will be glad no doubt has been cleared up in respect of the Lekoil PLC/Lekoil Nigeria being resolved subject to approval.

Is this the end of the OPL 310 story or more to come ?

[chopsy] 08/12/2022 07:50

Maybe it means FNK will be a (cash) shell?

[bri15] 08/12/2022 07:46

Do LEK shareholders get anything? i can't make head or tail of it

[fenners66] 08/12/2022 07:18

What does all that guff mean?

[chopsy] 07/12/2022 22:28

Wow, big change, no comment?

[technowiz] 26/7/2022 11:03

thats last traded price i think. there are not trades showing on the link I posted.

[thdba0] 26/7/2022 09:48

Bid 0.7, Ask 0.8

[technowiz] 26/7/2022 09:44

trading again. what is share price any1 know?

[technowiz] 19/5/2022 22:21

are the trading fees higher for trading Aquis listed shares?

[zengas] 16/5/2022 10:20

I've had no bother buying or selling stock via Aquis. I'm not invested in LEK however only interested from a SAVE perspective.

Full list of brokers -

[technowiz] 16/5/2022 06:16

Notice of application for admission to the Aquis Stock Exchange and Cancellation of Admission to trading on AIM.

LEKOIL (AIM: LEK), announces that it has applied for admission of its Ordinary Shares to trading on the Access segment of the AQSE Growth Market operated by the Aquis Stock Exchange (AQSE). It is expected that admission will occur on 18 May 2022 and that trading will commence on AQSE as soon as the audited accounts for the Company are released to the market, expected to be by the end of June 2022.

never heard of AQSE. Any traded shares on this exchange before and if so through which brokers?

[geckotheglorious] 11/5/2022 20:36

Prolonging the scam

Nigerian style!

Wonder how long all the thieviong mofos will drag this out..