Lekoil Share Discussion Threads

[jungmana] 19/6/2019 15:46

Yes that's from Otakikpo alone.

[goodbloke1] 19/6/2019 15:44

Is that ramp up without the opl license?

[shafaq] 19/6/2019 15:41

That's extra $10m+ per month.Let's wait for seller to go then let's see where we are.

[jungmana] 19/6/2019 15:39

Otakikpo is going to ramped up to 6000+ bpod net to LEK .Let's hope the other licence issue is sorted

[shafaq] 19/6/2019 15:39

Rubbish!Covenants for what?They have more cash than debt.

[goodbloke1] 19/6/2019 15:27

I think the Nigeria factor is also holding this back? Can we trust them to give back the license?

[jungmana] 19/6/2019 15:17

I think the seller will be out today. With 2000bopd , that's $4m of monthly revenue. Debt reduced significantly to less than cash . Cash in hand of $13m as of 31st may..
Too oversold at this price with market cap at GBP 16m

[laptop15] 19/6/2019 14:31

Yes big time

[letmepass] 19/6/2019 13:14

Great entry point for when the seller goes

[laptop15] 19/6/2019 12:56

Huge volume

[shafaq] 19/6/2019 11:38

Add another 22m vol since last notification.Nearly I'd say.

[newtothisgame3] 19/6/2019 11:28

More
#LEK #LEKOIL SELLER HAD 20M 2 SELL 18.6M SOLD SINCE NOTIFICATION ON THE 11TH JUNE HE WILL BE GONE TODAY THEN BOOM

[letmepass] 19/6/2019 11:23

Under 4p its a 3 bagger for sure

[shafaq] 19/6/2019 11:22

Added more today as pleasantly surprised by debt paid up.Once the seller finishes could see this heading up to 6p+ with more production increase to come then we could be looking at teens and 310 reaward say hello to 20s.

[tidy 2] 19/6/2019 11:17

Pis exhausting their cash pile getting this big seller out

[tidy 2] 19/6/2019 10:44

Yes nice levy. Mirroring BLOE in that sense although from a debt free position and making 1m pm on top of their over 13m cash pile. Solid holds now.

[letmepass] 19/6/2019 10:33

Big seller should be cleared soon then fireworks

[levy1] 19/6/2019 10:31

A quick back on the envolope take on the analysis.

Given the massive debt reduction and increase in cash, I would expect the company to be net debt free from sometime between now and end of year.

Cash generation I estimate to be about 10-20 mill usd pr year, which given its large tax carryforward would imply a P/CF on 1-2. This with current production only!

Then comes the huge upsides on the Phase 2 development, Ogo, farmout of PL325 etc etc.

Im very optimistic on the share price going forward...

[jungmana] 19/6/2019 10:27

Jennison associat3s look like the sellers over last few months and hence the drop to this level.As of rns of 14th they had 21m left. Should be much lower now

[jungmana] 19/6/2019 10:14

Well done. Looking at the figures here. This should be worth nearer 10p. Just need to clear the seller soon

[tidy 2] 19/6/2019 10:01

Ive been buying BLOE below their placing price of 11p also. No debt there and making 1m pm profits. Over 12m cash in bank also.

[jungmana] 19/6/2019 09:59

Yes healthy $13m cash level as of may 31st. Debt reduced to about $10m. Results look good

[tidy 2] 19/6/2019 09:54

Cash level just below mcap enough to nullify remaining debt which they reduce by 10m. More of that will be gone now also

[jungmana] 19/6/2019 09:52

I think there is a major seller holding this back.