Lekoil Share Discussion Threads

[zxie] 30/10/2020 09:15

Good price buy

[bakero] 29/10/2020 21:37

Well, no reaction to that RNS. Interims tomorrow and perhaps we get to find out what is happening with the missed 30/9 $2M payment, and perhaps the $4.6 due at the end of November.

[ianio5691] 29/10/2020 08:05

Nice to know at least SOMETHING is happening in the background.

Doesn't answer the current funding gap though, or what is being done to develop our main assets....

[ianio5691] 29/10/2020 08:04

Interesting RNS....

Lekoil Limited Strategic Alliance Agreement with NAMCOR

Strategic Alliance Agreement with NAMCOR Exploration and Production

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and Africa, today announces that it has entered into a Strategic Alliance Agreement ("SAA") with NAMCOR Exploration and Production (PTY) Limited ("NAMCOR E&P") through its subsidiary, LEKOIL Exploration & Production (PTY) Namibia Limited ("LEKOIL Namibia" or the "Subsidiary").

NAMCOR E&P, a subsidiary of the national oil company of Namibia, namely the National Petroleum Corporation of Namibia Pty Limited ("NAMCOR"), seeks to invest capital in the acquisition of interests in well-managed oil producing assets in politically stable jurisdictions as a means of securing long-term sustainability. The SAA will leverage the technical capabilities of the respective parties towards the joint evaluation and acquisition of low-risk quick-to-production oil and gas assets across Africa.

LEKOIL has a long-standing history in Namibia with its holding of an 80 per cent. stake in LEKOIL Namibia, providing an entitlement to 90 per cent. of income distributed by the Subsidiary. LEKOIL Namibia previously owned a 77.5 per cent Participating Interest in two Namibian offshore exploration blocks (Blocks 2514A and 2514B) and continues to maintain a strong relationship with NAMCOR.

Lekan Akinyanmi, LEKOIL's CEO, commented, "We are excited by this opportunity to work with NAMCOR again in evaluating and subsequently investing and developing high value assets within Africa. We look forward to benefitting from the synergies of this partnership as we share our considerable technical experience in oil and gas development and production in Africa."

Immanuel Mulunga, NAMCOR's Managing Director, added, "We will greatly leverage from LEKOIL's wealth of experience in operating and managing oil producing assets, as well as its deep knowledge of key African markets. At the same time, I believe LEKOIL will benefit from strategic commercial relationships that NAMCOR, as a national oil company, enjoys with a number of oil majors."

[marky23] 24/10/2020 21:30

we need some news, some good stuff at that!

[ianio5691] 20/10/2020 09:14

Bit of buying interest this morning - LEK even made the leader board!

[marky23] 14/10/2020 19:52

another over £14,000 after hrs trade, unknown bought or sold?? gla

[marky23] 14/10/2020 12:24

nealy £15,000 bought this morn, no movement yet!!! gla

[ianio5691] 08/10/2020 12:25

Looking like capitulation....

Is there any hope left here?

[ianio5691] 08/10/2020 12:24

RNS last week...

The Company is availing of the one month extension to the date by which it is required under AIM Rule 18 to publish its interim accounts for the six months ended 30 June 2020. Accordingly, the Company is required to publish its 2020 interim accounts by 31 October 2020.

Optimum Payment

The Company is in discussions with Optimum regarding a deferment of the payment due on the 30 September 2020 of US$2.0 million.

[bakero] 08/10/2020 08:41

Presumably we haven't paid the $2M due a week ago, and perhaps won't be told what us is happening until the results coming sometime in the next 3 weeks? A further (final) $4.6M due at the end of next month too.

[ianio5691] 08/10/2020 08:12

Can you think of any reason to buy.

The CEO is at best totally incompetent - but the reality is he is probably just another narcissistic money grabbing crook.

Looks like he is making room for, and will soon be joined by another career crook with his friend from Metalon.

Shame as this had potential.

[ianio5691] 07/10/2020 14:39

Why are they allowing it to be taken over on the cheap though?

What is the incentive?

A board position and continuation of the gravy train from the new entity?

[ngms27] 07/10/2020 08:50

30% in the UK but others on AiM have got round this by not being in the UK

[ianio5691] 07/10/2020 08:38

Not sure of exact rules, but I have 30% in my mind.
Whether that is the threshold where they can make offer, but it can be rejected, I'm not sure.

One thing is for certain - the BDO here are no longer working in shareholders best interest!

[smaf] 07/10/2020 08:29

What are the AIM rules for mandatory offer to minorities? 30% shareholding?

[marky23] 06/10/2020 20:23

it looks like thats the way it is going! with the share price going down, and them mopping up the sellers shares, i reckon any buyout would be about 2p? you can see whats happening , with around 1-2 trades a day, its also going into auction 1-3 times daily, enabling them to buy. (its certainly not due to volatility!!) the spread is better at mo, although no-one wants to buy now!!

[ianio5691] 06/10/2020 13:40

This has to be one of the most corrupt shares on AIM at present.

Another lifestyle Co run for the sole benefit of the Directors.

Why are they allowing the share price to be capped for gradual transfer of ownership to Metallon?
Will we be getting an enforced buy-out at VWAP?

[marky23] 06/10/2020 13:18

this share seems to only go down lately, even when there are some buys it never goes up?

[coxsmn] 05/10/2020 12:22

hard to think the shares were 80p back during the oil boom

[bakero] 01/10/2020 07:02

Well, Lekoil have tweeted 'Hsppy 60th Independence Day Nigeria' today.

But no news yet on the 2M due yesterday.