Lekoil Share Discussion Threads

[fraserdean] 27/6/2019 08:53

If you are investing in a company you look at not only the assets but also the management. If you do not have confidence in their ability or commitment to investors then it's very dangerous to put your money in.
Lekoil have some positive looking assets but the management have underperformed year and year while keeping a pay package several times the sector average.
Otakikpo could come good but the history here has been poor even when they had money to invest. The contractors that were hired often had poor results despite the fact they were paid well. All sorts of unproven allegations were bandied around about why they were hired.
The waste of time and money over the Ogo court case speaks for itself - poor judgement all the way along that has significantly reduced partner interest.
Just poor timing and unlucky on Dahomey Basin though.

[letmepass] 27/6/2019 08:46

Added some more..

[sapper2476] 27/6/2019 08:29

This has now caused the buys to dry up and hence will take longer for both these II’s to offload. Catch 22. Sounds about right for AIM.

[sapper2476] 27/6/2019 08:12

It will take a time to churn and the MM’s in their wisdom have simply spooked PI’s with that ridiculous drop yesterday.

[jungmana] 27/6/2019 07:54

I think the selling is timed with the 30th June finishing for tax reasons.

[sapper2476] 27/6/2019 07:42

I think it’s likely absorbed by PI’s in all the recent excitement but who knows. Happy if it stays where it is for a while to settle although the MM’s are having a field day with their wild swings.

[cottoner] 27/6/2019 07:34

If 2 IIs have been selling - who has been buying?

May get RNS from someone with increased holdings?

[sapper2476] 27/6/2019 07:32

Although their next holding RNS will enable us to work out a rough rate of disposal.

[sapper2476] 27/6/2019 07:27

Unfortunately I reckon they are doing a maximum of 4m a day. I’d give it a couple of weeks.

[jungmana] 27/6/2019 07:17

They had 25m left as of Monday. We have traded over 40m volume since then. So imo should have less than 10m left by now. if they are selling out completely, i think will be cleared this week.

[mcmather] 26/6/2019 23:47

The holdings of Capital and Jennison are the lowest they have been so the obvious thinking is that they both want out. Prior to today - perhaps 4m associated sells today?? - that was 37m shares to get shut of; or about £1.4m.....

On 2 June 2014 Capital's 9.609% equated to 34,872,000 shares so a) they upped their holding after the subsequent placings and b) doubt their sale will be related to any potential upcoming placing.

All that is needed is a spare £1.4m to sort the share price Anyone?

[laptop15] 26/6/2019 23:20

https://twitter.com/laptop1515/status/1143983330939084800

[riskybusiness1] 26/6/2019 13:19

Yes I was impressed with how much debt had been reduced by in results. That would make sense, he's not likely to want to dilute himself in to oblivion.

[laptop15] 26/6/2019 13:09

They have paid back a lot of the debt and the reason behind it is that they will probably use the same debt provider again. That was the plan anyway. Just don't forget the CEO hold 7.8% of the company.

[riskybusiness1] 26/6/2019 13:05

Clearly someone building a stake here helping those to offload. This is clear by volume. Only thing in my mind is could there be heavily diluted placing in order to get funds they need for multi well drilling programme? Seems ridiculously oversold already

[nick rubens] 26/6/2019 13:01

Just seen the other seller, no wonder it's been struggling last few days. Once these are cleared it should soar back upwards. Between them both that's a massive piece of the company being sold on the open market like that.

[gregpeck7] 26/6/2019 12:32

Nice rns gwmo... normally do well in the summer as it's when they do their drilling one to follow. Easy bagger and on the move. 3m mkt cap.

[jungmana] 26/6/2019 12:13

Yes is today. Just checked on LSE.

[upsondowns] 26/6/2019 12:10

Looks like it was so yeh a buy for me too

[upsondowns] 26/6/2019 12:08

Is it from today? If so definitely a buy

[jungmana] 26/6/2019 12:07

Another 2m there. Looking at the time that's a buy imo

[sapper2476] 26/6/2019 11:43

No chance seller is done yet. There are two of them. I timed my buys today very poorly.

[letmepass] 26/6/2019 11:13

Time to add more then.