Lekoil Share Discussion Threads

[fillipe] 29/5/2015 15:10

Mmmm - huge sell-off now, after this morning's nice rise. I'm unsure what to think....after the recent nice rise from 19/20p.

f

[rogen83] 29/5/2015 10:14

I'm guessing 2.5bn of P50 across OPL310. Good times to come

[taudelta1] 29/5/2015 08:53

LEK's 2014 annual report is out today ... two significant statements ... first, Otakikpo will commence production "by mid-year 2015"; secondly, the 3D shot over 80% of the whole OPL310 acreage is now complete ... after analysis this will pave the way for the promised CPR, my wild guess as to its timing would be October-ish plus or minus..

Rogen .. agree and scope is much bigger than that ... think the prospects across the whole block will be quantified, including incidentally the synrift associated with the Ogo discovery.. GLA

[rogen83] 29/5/2015 07:31

Afren committed to OPL310....saying CPR to be published on Ogo block to finalise a well location. Now we just need some bigger partners to join the "3rd largest oil discovery globally in 2013" party

[flyingbull] 28/5/2015 23:38

The June oil stock challenge is now on. Time to choose….


Good luck!!!

fb

[rogen83] 28/5/2015 16:12

4% of the company traded today - stake building occurring

[jailbird] 28/5/2015 08:05

yes VV.

well done:-)

[rogen83] 27/5/2015 19:33

All was clear in the recent results

[fillipe] 27/5/2015 19:29

LEK coming along nicely.

f

[taudelta1] 21/5/2015 19:27

Bit of a change in sentiment today IMO ... share price ticked up significantly on high volume ... two things of note ... first the director purchase on 19 May ... secondly the statement in Afren's new annual report that post the analysis of the 3D shot over OPL310 (which contains the Ogo discovery), a CPR is to be done ... think this could be interesting, possibly quantifying the synrift extension as well as other segments of the block... GLA and DYOR!

[ngms27] 17/5/2015 14:13

Sh1t, sell quickly then given their track record!

[coxsmn] 17/5/2015 07:10

Lek oil is covered in this weeks IC magazine. Sees upside from here, Buy.

[rogen83] 11/5/2015 07:42

Have a look at their results this morning. Says it all

[foxx999] 10/5/2015 21:02

Rogen, I wouldn't assume anything with Nigeria.... If it was such a formality it would have been done a year ago. I was always reassured that Afren would have to cover Lekoil in the event of no sign off anyway, then Afren nearly went bust.

[rogen83] 10/5/2015 13:44

Lek spent $50m drilling the Ogo well - I think it's fairly safe to assume govt sign off of their farm in is a formality

There has been chatter in the industry that Lek and Optimum are looking for Afren to farm down it's 40% stake to allow someone with more financial muscle in on the OPL310 party. Good times ahead

[gray1107] 08/5/2015 11:53

any link for Q1 funding needs? ta

[ngms27] 08/5/2015 09:48

Full link:

Highlights concerning LEK:

Nigeria OPL 310
Working interest 40%*
Operator Optimum Petroleum Development Ltd
JV Partner Lekoil Ltd

Note: Lekoil Ltd's assignment under farm-in still pending Government approval.

Work programme
Seismic acquisition, interpretation and appraisal drilling
* 40% effective economic interest post cost recovery.

Overview
OPL 310 is located in the Upper Cretaceous fairway that runs along the West African Transform Margin. Extending from the shallow water continental shelf to deep water, the block lies in an under-explored basin with a proven working hydrocarbon system. It is also in close proximity to the West African Gas Pipeline (WAGP) which allows gas discoveries to be readily developed. A well was drilled as a straight line hole in August 2013 followed by a side track to access the syn-rift.

3D Seismic acquisition and 2015 outlook
Following the Ogo discovery in 2014, the Partners commenced an extensive 2,716 km² marine 3D seismic programme across OPL 310 and the neighbouring OML 113 licence in March 2014 to complement existing coverage on the two licences. Processing of 3D seismic data is ongoing. The fast track post-stack time migration was delivered in August 2014 and the final production pre-stack time migration was delivered in late Q4 2014. The pre-stack depth migration is due in H1 2015. The interpretation of these data sets will be used to finalise a well location. Various funding options are being investigated for appraisal drilling. Post period end, Afren has instructed NSAI to commence the preparation of a Competent Person's Report for OPL 310 incorporating the new block wide seismic data, once the processing has been completed.

[nick rubens] 08/5/2015 09:43

Any links for the Afren News Release? cheers NR

[ngms27] 08/5/2015 08:10

Afren's latest news release says they are trying to find funding for appraisal of OGO and that LEK to date haven't had there participation signed off by the Nigerian Government.

I wonder why not and what risk is there that the Government don't grant the acreage?
That would decimate LEK

[seball] 07/5/2015 09:27

Becareful here. Lekoil are looking for funding which was supposed to have been completed by end of Q1. If there is no funding then expect a placing. This is just a calculated guess, I hope I'm wrong. Good luck holders.

[royaloak] 07/5/2015 08:49

One I fancy getting back into at some time, the only problem is its location, Nigeria, look what went on at EEL and AFR!

[jailbird] 07/5/2015 08:46

your timing was impeccable

[value viper] 06/5/2015 10:16

in for a punt here