Lekoil Share Discussion Threads

[upwego] 09/6/2019 22:04

I bet production is steadily declining would like to see production numbers

[sunnybeachboy] 09/6/2019 11:55

What day results...

[jimbo44] 07/6/2019 16:58

Looks like there are rubbish results to come.

[sunnybeachboy] 07/6/2019 16:50

New 52 week low hmm

[ghhghh] 05/6/2019 11:16

They will have been significantly reducing debt since claiming back the costs they incurred by carrying partner.

I agree that the lack of explanation re missed targets is concerning.

[coxsmn] 03/6/2019 18:45

I get the feeling they are struggling to increase production, it peaked at circa 7.5kbopd then instead of increasing to the target 10kbopd they actually decreased it, no real explanation except it had been agreed with their partner. Then they started talking about ramping up to 20kbopd and were doing the seismic but then this all went quiet. No news on drilling more wells. This production only seems enough to line the pockets of the management and pay their expenses, keep the lights on.The value here is if they manage to crystallize value from their large assets but to date no news.

[josephrobert] 31/5/2019 14:44

Net debt was US$40 million on the 30th June 2018, so nearly 12 months later you would expect some in clear roads into that, especially noting that on the 31st December 2017 it was US$63.8 million. The redenomination of the debt facilities was also positive and it indicates reduced trading risk and ongoing cheaper finance. The value here is repaying the debt facility and generating cash. What is worrying is that the FD has left before publication, and the ongoing delay in developing the cash producing asset Otakikpo.Curious why the admin expenses were so high - including Personnel expenses of $4m which declined from the previous report. Break even was reported as less than $30/b and they are producing plenty as far as we know. Unless there is some unexpected bad news then this is cheap - the net back pa is nearly the same as the market cap afterall. A farm out for the development of Otakikpo would be a welcome tonic to long suffering shareholders - as well as releasing a report with no nasty surprises.

[zala1] 29/5/2019 20:45

Currently in closed period prior to releasing 2018 results in the next two weeks

[upwego] 27/5/2019 14:17

This is dog poo they will have placing
Soon no doubt a heavy placing.

Whats production? Why not update the market and be precise?

These are going no where and funds will be
Needed placing is my guess

[coxsmn] 24/5/2019 15:44

not going well here.

Large assets but they seem unable to realise any value from.them.

Yet to achieve the promised 10K bopd yet alone 20kbopd from the producing asset.

So, until this changes then the current cash profits only appear to serve the directors and keep the lights on.

This could all change with some positive news.

[bakero] 24/5/2019 10:38

FY results will be coming in June, perhaps the Thursday after next.

[flawlesskicks] 24/5/2019 06:47

Why don't the company release operational updates? Looks like they are treading water with $40million of debt and a market cap of around $30million. I don't like net profit from their production - very low. Overall, I can see why they are trading at this level. They are a one trick pony now without the financing to expand - which could lead to discount placings to try to regain some sort of scale in their business. The loss of the licence on their main asset is a real blow after all the money invested in it.

I hope they can get it back.

I'm keeping an eye on this as I have followed the story for years but they have had a poor run of luck the last few years here and the share price could go lower due to bad sentiment and potential for placings to increase production.

[flawlesskicks] 24/5/2019 06:34

That is a horrible chart. Turned down again yesterday so could fall further. Best to wait for it to bottom and for a signal that buyers are returning imo.

[sammyshares] 23/5/2019 10:01

Rampers gone

[ppceh] 21/5/2019 21:04

How do you get to 1p?

[arteespresso] 21/5/2019 11:22

Good post - unfortunately for alamaison it's too late - one never stops learning but key is to want to learn. He is too busy spouting his knowledge and telling everyone how wealthy he is - signs of insecurity and bravado no doubt. Soon he'll be skint and no doubt believe it's everyone else's fault. Some people should just stick to funds/trackers, playing with Aim will get most people burnt.

[sunnybeachboy] 21/5/2019 08:55

Bidding at 4.91.

[sunnybeachboy] 20/5/2019 16:39

Lee, his Username on Twitter is garlic I believe

[ileeman] 20/5/2019 15:56

I dont like seeing people lose money even trolls like alamaison, it is sad to see.

But maybe he should use this as learning curve? A little tip stop averaging down into heavy weakness you dont know where the bottom is, especially as it keeps breaking into new all time lows.

It is not failure it is learning.

[sammyshares] 20/5/2019 12:30

Alamaison5 I told you to sell at 13, 12, 11, 10, 9, 8, 7, 6, and you keep buying more and more. You are the worst gambler I know.

The price today is 5.44

[trigger blade] 19/5/2019 09:45

Old ala always resorts to sharing details of his very successful life when his trades go wrong and LEK has gone fairly spectacularly wrong.

He also changes tack from being a trader to being an investor. He's a trader if he came make ten bob and when it goes LEK wrong, he can afford to wait ten years for it to come good.

And have you noticed how for months, OP310 was going to be the saviour of the company and now it's a fiasco, but with something much, much better about to appear and it all came out in a phone call.

Bless him.