Lekoil Share Discussion Threads

[spooky] 20/6/2016 08:55

20%, that's a shocker. Red flag if ever i have seen one.

[jailbird] 18/6/2016 17:48

good article dice...thx

[dice1950] 18/6/2016 09:37

Projects can make money even if oil prices fall to $25 a barrel
18th June 2016

[jailbird] 08/6/2016 22:16

Just yesterday's RNSLooks like Senator group have been selling to below 3% over last 6 months

[jailbird] 08/6/2016 17:00

Do not like the drop today...chunk trade at 18 p..appeared to look like buys..but maybe not now.

Broken the recent steady uptrend...some news due I reckon

[coxsmn] 04/6/2016 11:29

Production due to start by end if Q2 do hope to get news within the next few weeks.

[coxsmn] 04/6/2016 11:27

More significant, LEK is situated on the peaceful east side and their oil will be pumped straight to a tanker. The Avengers are targeting the large internationals and their pipelines on the west side.

[cyrilsneer1] 03/6/2016 15:24

Makes no difference to Lek as they're not in production at present.Plus this has just been announced: NIGERIA QUA IBOE CRUDE FORCE MAJEURE LIFTED, TRADER SAYS. Even the Niger Delta Avengers are failing today

[fangorn2] 26/5/2016 17:23

Chevron's Nigeria facilities shut down by another terror attack

…

[fsawatcher] 26/5/2016 16:59

it quiet coz no one stupid enough to invest in anyfink nigerian

corrupt and the company is skint

they dont have enough money to develop their assets , they will need more finance and debt

[h4rvs87] 26/5/2016 10:49

Awfully quiet on here. Shouldn't be long until news?

[jailbird] 16/5/2016 12:55

ok regarding raising money. It seems they may go a debt arrangement since moving into production phase. ..what you guys think? Use of Proceeds from the Placing


Cash balances of $32.4 million and net cash (after deducting short-term bank debt) of $22.6 million at the end of August 2015.

post result placing
As previously announced, at 31 August 2015 Lekoil had cash balances totalling approximately US$32.4 million. The gross proceeds of the Placing are expected to be US$40 million (approximately GBP26 million). The Company has also been progressing discussions with offtakers and debt providers for additional funding and it has recently received a number of term sheets which it is currently reviewing before concluding on the optimal route forward.

The Company has a number of near-term opportunities, summarised below, which the net proceeds of the placing, and funds outlined above, will enable it to progress.

A summary of the proposed use of funds is outlined below:


Proposed use of funds US$ million
======================= ============
OPL 325 Acquisition 16
General corporate and
W/C purposes 24
Total uses 40

[ngms27] 16/5/2016 09:20

Currently around 600,000 BOPD shut down, now producing around 1,000,000 BOPD so a material reduction.

[fangorn2] 16/5/2016 08:42

"Forget the Saudis, Nigeria's the Big Oil Worry
The country that was, until recently, Africa's biggest crude producer is slipping back into chaos. A wave of attacks and accidents have hit infrastructure, taking Nigeria's output down to 20-year lows.
The Niger Delta Avengers have certainly been busy, forcing Shell's Forcados terminal to shut in about 250,000 barrels of daily exports; and breaching an offshore Chevron facility in the 160,000 barrels per day Escravos system



Will Chevron Shutdown Its Facilities in Nigeria?

[h4rvs87] 13/5/2016 15:45

Given no debt now and production coming online imminently, I wouldn't imagine it would struggle to raise money through a revolving credit facility or similar. Afren killed itself with debt, Kurdistan and low poo given its leveraged. This is placed much better at this stage of time imo.

[fangorn2] 13/5/2016 12:13

Recent Nigerian Crude news for all those not aware...

12th May Nigerian crude output doen 440,000bopd from several recent outages.


11th May Shell declares force majeure on Nigerian pipeline

[fraserdean] 12/5/2016 11:00

Yep, Cameron whose dad was corrupt, is one to speak from a country where the police managed to cover up their involvement in the deaths of 69 people for 27 years. Let's not forget that almost every major corruption scandal around the world implicates individuals or organisations in the city of london. The uk really is a beacon of light.
This company does need more cash though, that's why the share price is where it is. If it can raise and therefore stay it'll be worth a lot more in two years, if it can't raise it will be worth a lot less.

[fsawatcher] 11/5/2016 11:18

cameron smart prime minister

he know nigerians corrupt

never invest in anyfink nigerian

may as well wire them your account details

this company need loads more cash to develop assets

[jailbird] 10/5/2016 13:41

Thanks Ld

I think if they can sort these and oil prices remain above $40 for production increases, then this could perform well.

I is def weighing it down here...increases the risks in the short term

[jailbird] 10/5/2016 10:49

Any impact on Lekoil, the ones in know bout this region?