Lekoil Share Discussion Threads

[sidjameslaugh] 21/6/2019 09:08

Well they killed this dead with that spread. Off to work. :)

[letmepass] 21/6/2019 09:04

Seems like you can't read an RNS

[jungmana] 21/6/2019 09:03

My friend the results was for year to 31st December. Do you you want the company to provide daily commentary on production? Which company does that, not even BP or shell.As far as we know production is 2000+bopd.End of topic

[ghhghh] 21/6/2019 08:56

Where does it say 2,000 bopd is CURRENT production?

[jungmana] 21/6/2019 08:52

2000+ bopd is the current production . About $4m monthly revenue. Cash gone up from $10m to $13m as of 31st May.Target for rest of 2019 to early 2020 is to increase production to 6000+ bopd from Otakikpo

[ghhghh] 21/6/2019 08:47

Apart from the stated 2000+ barrels a day x $60+ x 365 days. Are you for real.

You mean the 2,079 bopd? That was last year.

Where does it state current production?

[sapper2476] 21/6/2019 08:30

Apart from the stated 2000+ barrels a day x $60+ x 365 days. Are you for real.

[ghhghh] 21/6/2019 08:27

Nobody has commented on this?

The Company also intends to publish an operational update and financial guidance for FY2019 in short order.

The Results said sod all about current operations/flow rates and especially the big Elephant in the room, funding for all three projects.

To me, the obvious solution is to sell the company to a bidder with deeper pockets.

The most likely roadblock, other than no viable bidders!, is that the directors won't want to collect their P45's but they must see the writing on the wall. And the NE BoD look credible players, they won't want to be associated with a bust company.

The worry is just how 'distressed' are LEK. No current production update is a concern but cash was up from YE.

Any other theories? Why didn't they give full update with the results?

[jungmana] 21/6/2019 08:00

this one needs no ramping. the much improve fundamentals (from the recent results) speak for themselves against the low market cap of £20m today. once the seller clears imo should move to 7p+ in a few weeks (which was the price just 8 weeks ago)

[letmepass] 21/6/2019 07:46

Yes be very afraid.. Time to make shed loads of money

[sleveen] 21/6/2019 07:46

Rampfest going on.

Be afraid.

[jungmana] 21/6/2019 07:25

Operational HighlightsOtakikpo-- Production levels averaged approximately gross 5,345 bopd, (2,076 bopd net to LEKOIL) -- Phase Two preparations for development commenced with acquisition of 3D seismic in February, with an updated CPR being finalised ahead of publication-- Subject to agreement on funding with one or more industry partners, plans underway for a three to five well drilling programme, targeting to increase production levels to approximately gross 15,000 to 20,000 bopd (6,000 - 8,000 bopd net to LEKOIL)OPL 310-- Plans have advanced for the OGO appraisal drilling programme with well locations selected. Funding discussions are currently underway with certain industry partners.-- Despite this, the Federal High Court ruled that LEKOIL's acquisition of Afren Oil and Gas (Nigeria) Limited ("AIOGNL") (and its 22.86% interest in OPL 310) inchoate and invalid given the failure to obtain Ministerial consent.-- In response LEKOIL has withdrawn its lawsuit and continues engagement with its partner, Optimum Petroleum Development Limited ("Optimum"), and the regulator, to conclude agreements and resolve all outstanding issues-- The OPL 310 licence has lapsed, however Optimum in its capacity as Operator has begun the extension process and whereas there is no guarantee that the licence will be renewed, LEKOIL is hopeful for a favourable response from the regulators in this regardOPL325-- Technical Evaluation completed in January 2018 by consultants Lumina identified and reported on 11 prospects and leads which were estimated to contain potential gross aggregate Oil-in-Place volumes of over 5,700 mmbbls (un-risked, Best Estimate case)-- After finalising terms for a Production Sharing Contract on the block, LEKOIL intends to farm-down a portion of its 62 per cent. working interest following a detailed prospect/lead risking study

[cudmore] 21/6/2019 07:20

Sorry.....wrong thread! That’s EVRH if you’re curious!

[cudmore] 21/6/2019 07:19

Now perhaps people will sit up and see the huge upside here. RNS confirming John Gores £5m investment.

[newtothisgame3] 21/6/2019 06:45

on the 11th June Jennison Associates 21,358,353 3.98 but they must be cleared yesterday just waiting on the tr1 they must be finished watch for the sudden recovery when we get the rns

Lekoil swings to profit as Otakikpo ramps up

LEKOIL to focus on growth, strategic investment in 2019 to reach gross volumes of 15,000 to 20,000 bopd. The first step has already occurred, with 3D seismic data acquisition and interpretation now completed. …

Lekoil Moves Into Profit As Nigeria's Otakikpo Oil Field Ramps Up
The firm's revenue rose 58% to USD48.7 million, and Lekoil posted a pretax profit of USD2.3 million after a USD14.8 million pretax loss in 2017. …

[jungmana] 21/6/2019 06:36

CEO, Olalekan Akinyanmi, said: "The priority for 2019 is to grow production volumes at Otakikpo through Phase Two development (subject to funding) to reach gross volumes of 15,000 to 20,000 bopd. The first step has already occurred, with 3D seismic data acquisition and interpretation now completed.

[jungmana] 21/6/2019 06:33

https://www.morningstar.co.uk/uk/news/AN_1560935848179154400/lekoil-moves-into-profit-as-nigerias-otakikpo-oil-field-ramps-up.aspx

[newtothisgame3] 21/6/2019 05:51

@lekoil #Lekoil Ltd
#LEK : #LSE on the 11th June Jennison Associates 21,358,353 3.98 but they must be cleared just waiting on the tr1 they must be finished watch for the sudden recovery when we get the rns MKT CAP £19M - 52 Week High 20.2052P
52 Week Low 2.76P NUMIS 22P TGT

[newtothisgame3] 21/6/2019 05:21

@lekoil #Lekoil Ltd
#LEK : #LSE Resistance found at
18P
Support found at
3.05P

[newtothisgame3] 20/6/2019 20:45

@lekoil #LEKOIL #LEK closed up 19.67 percent on Thursday, June 20, 2019, on 16.47 times normal volume.

[charlesjames1] 20/6/2019 18:02

I would say that Jennison Associates are motoring through their shares. Over 6m noted after hours. The last just before 3 o'clock seemed to kick it on.

[jungmana] 20/6/2019 16:14

The entire BOD and administrative remuneration is being reduced by 25%. Currently revenue is about $4m a month and that should triple with ramp up of production in the medium term. Is at GBP 17m market cap today due to the seller but imo they should be finished this week

[fraserdean] 20/6/2019 15:57

The real problems are more of the company’s own making. Executive pay is among them.

The company’s annual report shows a base salary for CEO Lekan Akinyanmi of $787,950 for 2017.
Bonuses and shares lifted that to total compensation of $1.7m.

It’s nice work if you can get it.

In research published on Smartkarma on May 22, Simply Wall Street calculated the average total CEO compensation for a sample of companies worth less than $200m.
With a current market value of £16.5m, Lekoil is right at the bottom of that spectrum of companies.
Yet the average total CEO compensation of $315,000 is a fraction of Akinyanmi’s earnings.