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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lgo Energy | LGO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.05 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.05 |
| Top Posts |
|---|
Posted at 08/6/2017 11:14 by edgein Holly,I've been around this sector for many years now. First of all it looks like its been done with the influence of the house broker, how its all come about is unknown, as you say there's no large influential insti pulling the strings here. DL was powerless to stop it too. Why Leo's here is down to the asset, he likes the in production assets and cash flow. As a producer and operator that alone opens doors to acquisitions not available to explorers. Some countries don't sign off agreements with pure exploration companies, so that gives Leo some more opportunities. As he points out though, you can pretty much drill anywhere in south west T&T and hit oil. Key will be with his experienced team to now get this out. The CPR is 60mmbbls of contingent intermediate oil on water flood. That's what Leo's got his eye on, getting the EOR right and getting what's there out. Based on that it will be a move into SA for high impact exploration, again not only did TAQA buy significant production in the NS they added to that with appraisal and exploration drilling. Goudron is big enough alone to turn this into a mid cap. 60mmbbls of 2P I'd expect the cap here to be in excess of £200m. What else Leo brings is more interesting, more speculative and even higher upside. He's got significant financial fire power and LGO/Columbus is his baby now, he's at the top. He could farmout part of Goudron's current 2P for a carry, he could use his fund to acquire production and repay it from cash flow. Endless opportunities ahead that NR was unable to bring. As Leo said, LGO asset rich cash poor. Under Leo we're still asset rich but he's got a massive fund and links to Abu Dhabi. there's the fundamental difference in the new LGO/Columbus. Leo is highly respected due to his success to date as you mention and that alone will open more opportunities. He did warn investors to get in early, so they'll only have themselves to blame if they miss out or miss this change. Regards, Ed. |
Posted at 05/6/2017 17:18 by nexus7 From Cebo456 Today 16:37-------------------- RE: looks to be alot of.. Chesh, I think their were a lot of investors in the background waiting for LGO to start moving and some have jumped in today, there have also been rumours over the last couple of week relating to some sort of deal with James Parsons and Echo Energy, albeit that Echo are mainly Gas focuses and LGO oil. What did impress me was what Leo Koots achieved in Aberdeen with TAQA and after that he could have cherry picked just about any job in the industry and chose LGO. I also watched one of his first interviews at LGO and he was very focuses and impressive. I was initially waiting for LGO to announce how they were going to fund the work overs/water flooding etc before buying in here, but suspect now that however it is done, it will not be detrimental to the share price so bought in this morning, as a medium/long term hold and hoping for some good news this week or next to get us on the journey. |
Posted at 18/5/2017 06:49 by 12bn In 2014/2015 investors and international banks had been misled by Ritson to backing him with £millions. LGO is in nothing like that position today and has trashed its reputation with the banking industry and also with drilling companies in T&T. Frankly more production is not minimal risk it will come with the absolute certainty of bringing more losses on the company and surely that is something that no-one wants to invest in, jam tomorrow false production hopes ramped up by the company and unscrupulous brokers in their suspiciously conversational and very unprofessional notes which offer no evidence whatsoever to back up their investment recommendations for bottom pinching Ritson at this time.I rather shudder at the thought of the worm-tail Monk bringing Ritson round to prey on investors in meetings and trusting Ritson and Monk in their low risk, high return claims or that the company's situation is anything like what it was in 2014./////You didn't rate Monk highly did you prototype? |
Posted at 10/5/2017 11:28 by theprototype From Ritson:“After a difficult couple of years in which the Board and I have restored the balance sheet the Company is now able to chart a new course and that requires new leadership.” From Koot: “The Company's current asset portfolio is strong, we are growing our production and generating cash. We are seeing ever more investment flowing back in to the sector. These are excellent fundamentals from which to grow the business” Well Neil you did restore the balance sheet but only by diluting LGO’s shareholders to oblivion. If LGO are growing production and generating cash there why is there any need to chart a completely new course which is such a radical departure from the old plan that it requires a new leader? One wonders if Leo Koot is a new broom or just a new handle in that the old head has been begged by the board to stay on for 12 months in an advisory capacity. £250,000 in consultancy fees right there one feels. Will Neil still be writing the RNS one wonders? Is he already putting words in Koot’s mouth? Perhaps not as one would have expected Ritson to have said ‘These are excellent fundamentals from which to grow the business and increase shareholder value’. Using some reasonably informed guesswork and reading between the lines - then following the recent RNS detailing depletion in their new wells at rates of 30 and 40% within weeks it’s starting to look reasonably clear that Ritson could not conceal depletion in the GS any longer and future production news would expose his misleading fund raising suggestions that wells in the GS would only deplete at 20% per annum. With Ritson stepping down, the company being renamed and charting a new course - all suggests to me that they are going to virtually call it a day at Goudron. I am guessing they will announce that they are to put the shallow infill well program on hold and leave Goudron ticking over in the background supposedly generating cash whilst they shift all their new developments to the rest of their portfolio which I assume will be Cedros and/or the newly acquired Bonasse field. It is possible that they could announce that they are going to press straight ahead with an all out water-flood at Goudron but I feel that is unlikely given that such a water-flood was always part of the old plan so it would not exactly be a new direction that required a new leader. Essentially this looks like Colombus Energy Resouces is going to back to square one as an oil company with a cold reset of the jam tomorrow business of losing money drilling for oil in T&T. Unfortunately it is not particularly Goudron or Ritson that is the underlying problem. No-one makes money drilling in T&T. Trinity, Touchstone, Range, LGO etc have all burnt through millions and this reset will not make any difference in the long run. Given that the strategy briefing is being held in VSA’s offices, it is reasonably likely that this briefing will also include the announcement of a big new fund raising via PrimaryBid. One can hear the pitch already. ‘Following the success of our over-subscribed share issue via PrimaryBid we are pleased to offer private investors the democratic opportunity to subscribe to a new offer to give Colombus Energy Resources PLC the capital platform to aggressively develop the exciting opportunities in its strong asset portfolio’. Growing the business from its typically poor Trinidadian asset portfolio is going to require massive amounts of new capital that can only be raised via new debt and placings and perhaps a joint venture. Having reinvented itself this could basically amount to a new virtual IPO. Will it work? Probably. “We are seeing ever more investment flowing back in to the sector”. Long term investment in the oil business is complete insanity particularly in US shale where they rack up losses that make LGO’s look like a penny piece received in the smallest of change. Yet investors keep insatiably buying the energy sector’s bonds and new equity issues with complete disregard of its losses year after year. Will Columbus Energy Resources PLC ever make a profit? No: but that doesn’t seem to matter in the new normal. If things do indeed pan out this way then it raises serious questions about VSA’s daily broker buy recommendations and target price of 22p as they were entirely based on the old plan which overwhelming depletion has finally killed off it seems. Without Lenigas, Ritson and Goudron the LGO horror story is finally coming to an end. CER will be a completely new book that will ultimately tell the same story. I've wasted far too much time following the LGO saga and I don't think I can bear to read the sequel. |
Posted at 04/5/2017 07:22 by 12bn LGO Energy PLC04 May 2017 For Immediate Release, 7 am 4 May 2017 LGO ENERGY PLC ("LGO" or the "Company") Investor Strategy Briefing LGO is pleased to announce details of its planned Investor Strategy Briefing for investors and analysts to discuss its future programme and strategy. The meeting will be hosted by the Board and attended by senior management. The meeting will be held at the offices of VSA Capital on 10 May 2017 at 2.00 pm and will be simultaneously webcast for those unable to attend in person. LGO is an oil exploration and production company focused on onshore Trinidad. Its main producing oil field, Goudron, is currently the subject of an infill drilling programme and a waterflood enhanced oil recovery scheme aimed at substantially increasing production from the large in place resources. The first two wells of the infill programme, GY-682 and GY-683, have recently started production at encouraging rates. The Company has also recently commenced oil production operations at the Bonasse Field in South Western Trinidad where the Company holds a number of very exciting short and medium term opportunities to significantly enhance value. Briefing details: Date: Wednesday, 10 May 2017 Time: 1.45 pm arrival, 2.00 pm start |
Posted at 04/4/2017 20:24 by brasso3 If you put any emotion aside as to how LGO/ NR seem to keep shafting long term investors here then there is a lot of upside still.Can someone point out another AIM oiler with 500 BOPD production and a market cap under £10m? 800 BOPD also looks easily achievable in 2017 with little risk to investors. |
Posted at 27/3/2017 10:52 by arrynillson 12bn I'm glad you are learning from my posts as I recently told you I take pleasure from examining the results to gain more knowledge about the company finances and what they may kook like going forward, which is probably of great interest to most shareholders and potential investors.There is a poster on here who simply cuts and pastes accounts and suggests that history will be repeated in the future without considering the events during the trading period and how the company have reacted to them for the future - you have said the facts are different from the previous spin which inspired me to suggest you are learning from my posts! You clearly learnt from my post on the netbacks at $30 per barrel instead of the $20 you had been quoting in blissful ignorance for so long - you learnt not to provide baseless information on the Lind loan following my intervention but when you are challenged on misleading you say you couldn't be bothered to research because you're not invested here - yet you spend so much time here posting. You claim to post here to warn new investors yet you use the pejorative term ' greedy ' to describe the investors you are seeking to protect which seems rather odd for an altruist! The CEO of LGO mentioned in his rns 22/03/2017 about drilling in Mayaro which, as you know, is the plan going forward, ' with historically low decline rates shown by over 100 existing field wells to be CONSISTENTLY LESS THAN 20% PER ANNUM ' - I'm afraid you will have to get used to that little phrase because it's much more concise and punchy than a long explanation of where the Share Prophets tosh was discredited but I'll give you a clue - it used the word ' implied ' to create figures for production and then based the argument on those figures - i can understand why YOU think that passes for credible research but others beg to differ. BTW aren't Share Prophets recommending LGO as a buy now - how can they do that if they really believed their own tosh - haven't they hung you out to dry? |
Posted at 22/3/2017 10:15 by 12bn Anyone who has properly researched LGO back to its IPO in 2007 and who has closely and meticulously read ALL the annual reports, RNS, investor presentations, company timelines and faqs - will see the familiar patterns and ruses that David Lenigas and Neil Ritson (The Walrus and the Carpenter) have employed to cynically feed off the recently imported oyster bed of poorly educated investors who can barely write coherently, let alone read effectively. This new stream of unsophisticated investors have been made available for DL's financial consumption with the advent of new technologies such as cheap, cut and paste web-sites organized around the mission statements of maximizing shareholder value, but most notably the LSE bulletin board and twitter. All of the dubious companies on AIM have fully embraced and exploit these new media fully. Without these new technologies which offered the ability for companies to manipulate and disseminate false or misleading information so cheaply, quickly and effectively and also for employees to police bulletin boards ensuring that only the 'right' messages remain undeleted - it is doubtful whether 80% of the companies on AIM would have been able to carry on fund raising in the face of their own dismal economic performances.//////o |
Posted at 15/2/2017 11:13 by onceatraders I have a feeling some people read the RNS rather quickly this morning, noticed the paragraph share consolidation and then went on to sell. Egged on by the likes of Rossannan and co, who were looking for the next 10% trade (again).I have said it before, read a RNS not once but several times to understand what is exactly going on. The more the information, the more attention to detail. This is not a 100-1 consolidation like one of the AIM minnows, perhaps some investors have had experience of them. This is a simple 20-1 consolidation, which will as the RNS says bring the company shares in issue back to similar standing of other O+G company's on AIM. This will in my personal experience, attract more stable investors to this share, some have a block on trading sub penny shares. Also you may well find a slowing down of the day trade activities and working within the spread. At the end of the day your portfolio value remains the same, but with the upsides given above, I treat this as good news, and I will certainly be voting for it. An example of how investors are led into selling was this morning, someone sold 7m odd seconds after the RNS. Did they read the RNS in depth! I have increased my holding to 45m shares, it was an unexpected increase by me, as my strategy was to review the GS wells first. But it was an unexpected price! Best regards John |
Posted at 19/7/2016 08:27 by nexus7 From onceatrader Today 06:52-------------------- RE: Sp and rns Dazzle1000 The theory behind 'buy on rumour and sell on news' is open to debate. A lot of traders will use this rule, whilst longer term investors will ignore it completely. It is never the market makers, they are here to create a market and generate a profit. On the day of news release it is simply down to the percentage of traders to the percentage of new investors buying in on the news. Always a hard one to call, a share can drop 10% in the open, but climb 40% after (example). The actual news, and its impact on the fundamentals short to long term is the driving factor normally. A lot of experienced investors will use both methods, a core and a trading pot working together. The core remains the same, whilst the trading pot works as a hedge position, buying dips and selling peaks. The normal percentage is 80% core and 20% trading pot, but riskier stocks may have a ratio of 70/30 or even 60/40. It is ultimately down to each investors own strategy though. My core is 117m, that remains intact. That investment is for the recovery play here, it is not here for a week or a month, but in for a much longer time line. I have not given any price predictions, and will not do so. But my confidence in LGO is very high, and I do expect them to partially recover lost value, at certain junctions of the recovery. The driver here will be four pieces of the short term recovery, they are Spain licence/jv/sale, debt restructuring, GS well program and production increase. As these four drop into place, the share price will do the same. Yesterday we had a great RNS on the reserves upgrade, that along with the MEEI data was a excellent start to the morning. That alone would have had us finish above 0.20 IMHO. No other news was required, in my mind the media interview was a handbrake. The interview should have only been on the reserves upgrade news. But the longer picture must be seen here, the reserves are taken into account by a funder/investor, therefore they are simply another piece of the jigsaw put in place. Best regards John |
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