Lekoil Share Discussion Threads

[newswseller] 24/2/2016 16:20

That's the same article that ldlv posted a few days ago and the company was already taking action to have the initial story removed

[stansmith3] 24/2/2016 16:00

ldivcompany says tnv article a load of nonsense

[stansmith3] 24/2/2016 14:51

ddthanksbeen looking at cne following ojs interestbest

[dukedosh] 24/2/2016 14:32

Stan,

FWIW I think the bottom is in already.
FWIW my biggest O&G holding is CNE:CA
Then a bag roughly equally shared among
GTE:CA
IAE
AMER
CNE
OPHR
SIA
WCP:CA
Good quality names should do really well on the upturn.

[stansmith3] 24/2/2016 13:46

dukedoshso purely in the interest of recovering huge losses, what is currently taking your fancy pre- bottom?whats on your radar for when the tide turns?best

[ldlv] 24/2/2016 13:01

Presumably TNV checks their sources and doesn't just publish any rubbish. It will be interesting to know what is Lekoil take on the article.

[dukedosh] 24/2/2016 12:35

LDIV,

That's quite the damming news piece. If true, this stock is surely toast.

[ldlv] 24/2/2016 12:07

hxxp://www.thenigerianvoice.com/news/207013/oil-rig-quagmire-puts-50-million-investors-fund-at-riskn.html

[dukedosh] 24/2/2016 12:00

Hi Stan,

Good to hear you're still around and fighting.

I was a holder here but sold when I first heard the TF was down a couple of weeks back.

CEN was indeed a great ride, as was a few others that were taken out (HOIL, CRCL).

As you say, mostly downhill since then but at last we should see recovery from here.

I'm sticking with good quality O&G stocks generally, nothing Nigerian appeals currently.

All the best.

DD

[stansmith3] 24/2/2016 10:44

dukedoshdidnt know you were a holder here...i recall you making out like a bandit with hoil and one other..?looking back cen was quite the ride, all downhill for me since then :(best

[wilk1] 24/2/2016 08:49

Another lurch down on the chart, this is going into single figures by the look of it.

[dukedosh] 23/2/2016 12:22

Shell declares force majeure on Forcados oil export

By Sulaimon Salau on February 23, 2016 12:41 am

SHELL Petroleum Development Company of Nigeria Limited (SPDC) yesterday said it had declared force majeure on Forcados oil export following disruption in production caused by the spill on the subsea crude export pipeline.

The Media Relations Manager, SPDC, Precious Okolobo, who confirmed this yesterday, said the force majeure was effective 1500hrs (Nigerian time) February 21, 2016.

Meanwhile, he said the SPDC is intensifying efforts on containment and oil recovery while also finalising repair plans.

Although he did not state the quantity of the oil shut-in, but Forcados terminal is one of Nigeria’s biggest terminals with capacity to export 400,000 barrels a day.

The oil recovery, according to Okolobo, is supported by industry group Clean Nigeria Associates (CNA) and other oil companies, adding that Shell has deployed specialised equipment to contain the spill.

SPDC, he said, has also mobilised clean-up teams and contracted a specialised aircraft to join in the response. Production into the terminal and crude oil exports were stopped soon after the spill was discovered.

[zengas] 23/2/2016 08:35

Militants vow to blow up more oil pipelines within days

By Wale Odunsi on February 23, 2016

Niger Delta Avengers, the militant group which claimed responsibility for blowing up the Forcados Terminal Pipeline in Delta State, has announced its plan to attack more oil installations.

“Shell Petroleum Development Company, SPDC, Forcados terminal is our latest casualty. There are many more to follow in the days and weeks ahead,” the group said in a statement Vanguard published.

It said it was prepared to reduce Nigeria’s daily oil production and supply to zero barrel if its agitation was ignored.

[zengas] 23/2/2016 08:34

UKs Daily Mail 22/2/2016

Shell on Monday warned on crude exports from Nigeria's Forcados terminal after production was disrupted by a pipeline spill.

The Nigerian subsidiary of the Anglo-Dutch oil company, SPDC, said it declared a force majeure on Forcados liftings following "the disruption in production caused by the spill on the Forcados terminal subsea crude export pipeline."
Although Shell did not disclose the volume of production shut-in, Forcados is one of Nigeria's main export terminals.

Shell is a major oil operator in Nigeria, Africa's largest producer with an average of two million barrels per day.

Shell has often blamed sabotage for most of the spills in the Niger delta.

[jailbird] 22/2/2016 23:35

LdlvNot sure I like the look of that article What does anyone else think ?

[ldlv] 22/2/2016 20:12

https://twitter.com/ldlviuda/status/701814549285048320

[dukedosh] 21/2/2016 21:20

Maybe investors are selling this news:

EXCLUSIVE: Nigeria’s revenue woes worsen as major trouble hit Forcados, oil lifting suspended

[ldlv] 21/2/2016 19:50

From afleac at LSE today: "Quagmire for Wellsmart, How are they doing in Andoni? Weren't they NG 151?Are the regulators happy with that performance?"

[cinques] 21/2/2016 12:53

Selling continues ... any idea why?

Aside from it being in Nigeria, of course.

[dazah] 18/2/2016 18:43

Unbelievable this was 80p now priced as if it's going bust!

[newswseller] 18/2/2016 14:00

Wonder who is selling out? By reckoning this should be at 18p based on current oil price, currently not following any of the oilers

[fangorn2] 15/2/2016 15:57

Yes, great assets.

Don't forget the slippery fingers of the locals however,and the significant political risk. Ask any shareholder of Afren, Mart, Heritage etc etc.

At current POO Nigeria is bust - hence the IMF approach.

[coxsmn] 15/2/2016 12:45

Lek is a no brainer at this sp, just look at their assets.

[ldlv] 08/2/2016 15:51

Apparently still on going?