Lekoil Share Discussion Threads

[ewanwhose] 20/2/2020 14:48

My rough calculation is 7M USD ÷ 54 USD per barrel (assuming they get the spot WTI price) ÷ 2300 bopd attributable to LEK (from RNS) ÷ 7 days per week. On that basis, it would be taking 8 weeks at full production to produce each load.It's a nice RNS, saying 4-6 weeks between 2 shipments but I don't see how they can keep that up long-term.

[sam_] 20/2/2020 12:38

Ewan, I am not being too optimistic at all, its a big oilfield with reserve resources estimated at 48.6mmbbls ! last year they had a production of approximately 10,000 bopd via an Early production facility. The second phase (which hopefully will commence in Q2/Q3 2020) will see a new Central Processing Facility and seven new wells to bring production up to some 20,000 bopd (Barrels Of Petroleum Per Day).

hxxps://www.lekoil.com/our-assets-summary

[ewanwhose] 20/2/2020 12:16

Being a bit picky, the RNS only refers to there being a next shipment. I hope we aren't being too optimistic in extrapolating that to a shipment of the same size every 6 weeks from now on.

[sam_] 20/2/2020 12:09

Billthebank, this is from last month's rns: [LOGL expects to receive cash proceeds from this crude oil lifting of c. US$7.0 million. The next lifting, of a similar quantity, is expected to occur within the next four to six weeks.]


So the revenue made every 3 to 4.5 months from Otakikpo oil lifting provides Lekoil with income equivalent to its current mcap!!

[billthebank] 20/2/2020 09:44

And dont forget $7M+ coming in every 6 weeks!!!

[sam_] 20/2/2020 09:31

It must be a takeover target at this level - Probably by Addax's Petroleum which is a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China & the biggest oil refiner in Asia -The third largest worldwide!

Lekoil's new CFO was Addax's Chief Financial Officer for 10 years before joining Lekoil last month.


Lekoil

Total Assets £226m
Total Equity £185m

Current mcap £17m !

[billthebank] 19/2/2020 14:24

Wouldn't that be nice.Actually any news would be cool tbh!!!

[billthebank] 19/2/2020 11:35

And not a smuidgeon of any movement.This share price is being held down. Large buyer IMO.GLAHS

[billthebank] 19/2/2020 09:39

Our seller reappears!!!!! Large chunks mainly at 250k and indeed one at 500k.Looks like 2M sold early doors today.Sp dropped a little.Not a lot but irritating.

[billthebank] 19/2/2020 09:13

And now we wait!!!

[jrlomax] 18/2/2020 18:14

Spot on mate, let's say an average of every 5 weeks that's $70 mill a year. So under the radar this baby

[billthebank] 18/2/2020 17:57

Sometimes you just miss the quiet ones!!!Rumours are abound that a t/o is imminent.Look at who the new CFO used to work for. Join the dots.

KEY POINTS:

LEK IS WAY UNDERVALUED IMO
VERY BUSY DAY TODAY
LARGE BUYS GOING THROUGH RECENTLY
$7M CASHFLOW GAIN EVERY 4/6WEEKS
MASSIVE NIGERIAN ASSET
RECENTLY DEFRAUDED HOW!!
MANAGEMENT VULNERABLE
WHO IS INTERESTED????

SP possibly gaining traction????

As I say we often miss the quiet ones

As ever caveat emptor and DYOR!!!

[billthebank] 18/2/2020 16:20

Is it time for this to break out?

[elias jones] 18/2/2020 15:16

Of course its possible

[harry tp] 18/2/2020 15:09

Something is cooking here chaps look at the volume and those steady large buys - T/O anyone ? :-)

[elias jones] 18/2/2020 15:04

They have cut buy size right down in last 30 mins i think we could be in play very soon here.

[elias jones] 18/2/2020 14:41

Harry you could well be right on that,if compared to what they paid for ELA this would be a snip at 12p level for them.

[harry tp] 18/2/2020 14:38

I reckon if SEPLAT do bid it will be around 12p otherwise if too cheap an offer they will invite rival bidders imvho

[harry tp] 18/2/2020 14:35

Could be a news leak ? they known to be leaky in past