LGO Energy Share Discussion Threads

[sean spicer] 13/4/2017 12:06

The drop is due to overhang following the recent placing and very poor sentiment and continued negativity due to the incompetence of Neil Ritson.

The other reason is that this company attracts short term traders due to the way this company is being run.

Things should change next week following another RNS re increased production, in the meantime take advantage of the cheap price.

[offerman] 13/4/2017 11:48

Any reason why the recent over 50% drop or is it just shorters at work again? I thought recent 55bopd was okay.... and flows to come from 2nd successful infill well.

[nash81] 13/4/2017 11:45

12bn

yes, i noticed that Lind may convert.

however, Lind hasnt converted since,and LGO intents to pay cash as how they have done so far (per RNS)

and furthermore, per RNS 21 DEC, Lind can only convert at the fixed price of 0.15p old money. thats around 3p after capital re-organisation.

so, i doubt Lind will convert now as share price below 3p (Lind will lose money if they convert now)

am i correct?

[ozzmosiz] 13/4/2017 11:11

lots of buying happening today.

[12bn] 13/4/2017 11:11

You may be right nash81 but there is a big overhang here and NR is likely to pay Lind in shares every month,that's £94500 worth of shares dumped every month. At this level it is possible that in a few weeks, when the overhang clears, you may get a bounce but I doubt you will see that in the next week or two,imo. Besides bounces from the lows, I still think LGO will drift lower over time.

[nash81] 13/4/2017 11:02

I am surprised that LGO as an oil producer, only has 10m mcap?? whats are derampers trying to achieve? lower share price for their re-entry?

now is not the time to sell. its actually time to buy.

i am sure many have heard the phrase, buy low and sell high?

i am buying here :)

[nash81] 13/4/2017 10:37

time to buy back in now.

[nexus7] 13/4/2017 09:45

From in4cedros Today 08:15
-------------------------------------

RE: Oil and water query
Clumpet - the wells being used for C Sands are not old - we are still paying off the loan to finance them. We are not using Sea Water either, not for the Pilot project, according to released information. Neil says he is looking at options for full development stage.

At the moment the C Sands wells are assets which may yield plenty of oil with the encouragement of enhanced recovery - Neil wants to show us it works before spending mega money on it, which seems reasonable to me, I'm happy for him to give it a try, with the blessing of Petrotrin.

My last post to LayLadyLay was not claim LGO were set fair for EOR but to respond to his inference in previous posts that LGO had recently morphed into ia bottled water company without telling Petrotrin and the wider world! Jcgswims actually bothered to discuss the inference with LGO, unlike LayLadyLay ( a familiar pattern!!!) and received a reply from Neil which was posted last night - well done jcgswims!!!

[12bn] 13/4/2017 08:44

Jungmana,1.5p,you are brave,1p would be safer! :)

[12bn] 13/4/2017 08:42

ROFLOL at arry,jail time?????? Do I need to give you my address in Middle-Earth again? This is a financial website arry,opinions are allowed or the site would be closed down! You don't do shorts yourself do you arry,why? You don't fancy unlimited exposure? Neither do I,neither do most people! Best to start nit picking something else,the share price is collapsing here.

[jungmana] 13/4/2017 08:39

Am a buyer at 1.5p

[arrynillson] 13/4/2017 08:35

12bn I don't give financial advice, unlike you, but I'm surprised that someone who is so confident in their advice they risk jail time to post it on here does not have the confidence to back his own judgment in the market 12bn!!

[12bn] 13/4/2017 08:32

I don't know Garnheim80,what is it? My guess is it cannot be much as LGO has over 170 wells (if I remember rightly) and the last figure we have for Goudron is 459 bopd and I expect that it is now well below that.(There is a lot of total oil in place as well).

[garnhiem80] 13/4/2017 08:24

12bn, The recovery rate for beach has been approx 15% for primary recovery,10% for waterflood from total oil in place figures.

What's is the current recovery rate from oil in place figures for Goudron?

[12bn] 13/4/2017 08:00

NEXUS712 Apr '17 - 16:07 - 7603 of 7604 2 0
From Dazbrad Tue 21:45
-------------------------------------

Man With a Plan!

Recently there has been a lot of criticism of NR due to his constant attack on our holdings. I accept that there are a lot of disgruntled holders that are camped up at crazy break even prices, but we need to look forwards, not backwards. It's counter to the purpose of our being here.

IMO, the crash of oil price was the cause of the mess we were in yesterday. This whole 'post consolidation' price fall has certainly made me think about NR, LGO & my investment, but I found myself focusing predominantly on the many bad moves the company has made.

However, looking on a more positive note and providing NR sticks to the plan, in 8 months we should have another 8 new wells pumping.

We had an avg of 459bopd from our existing Goudron wells. In 8 months time we should have an avg of 500bopd from the 10 new Goudron wells currently being drilled. Forgetting about EOR pilots, SWP and Cedros etc, that's 959bopd in total.

959bopd x £40bp = £38k per day before costs

Considering any shut downs for maintaining the pumps, storms or general operational issues. Say 25 days per month we are active...

£38k x 25days pm = £950kpm before costs
£950kpm x 12 months = £11.4mpy before costs

After tax, G&A, OPEX, LIND etc, come January 2018, we should be making enough money to start adventuring into our new or existing leases with generated cash. Lots of room for increase in WTI let's not forget. That'll get LIND off our asses faster.////// ROFLOL at that ramptastic post,full of inaccuracies! First LGO will not be getting 459 bopd now imo,we will see that when the next set of figures arrives. Second,LGO only gets NET BACKS from Petrotrin of around $28-$30 NOT £40!!!!! Thirdly, in 8 months time LGO are highly unlikely to be getting 50 bopd from each of the new wells,imo it will be nearer 10 bopd but it is imo. Fourthly,I doubt that LGO will be able to drill 10 new wells by then. Fifthly,if LGO do drill 10 new wells at $500k a pop then they will need to raise a lot more cash,at ever lower prices imo. A very poor RAMPTASTIC post.

[12bn] 13/4/2017 07:29

The waterflood project increased production by a massive 4%, at what cost? How does that affect expectations for LGO?

[12bn] 13/4/2017 06:14

arry,I do not short,do spread bets or CFDs and I bet you don't either.

[jcgswims] 12/4/2017 16:20

I received an answer from LGO regarding some people's "concerns" regarding if the declared bopd is all oil or oil and water.

"The 55 bopd that we announced was all oil. Typically any water produced will have been removed from the stated volumes before finalising the oil volume reported. If oil and water are combined then we will state barrels of fluid per day (bfpd)."

[nexus7] 12/4/2017 16:07

From Dazbrad Tue 21:45
-------------------------------------

Man With a Plan!

Recently there has been a lot of criticism of NR due to his constant attack on our holdings. I accept that there are a lot of disgruntled holders that are camped up at crazy break even prices, but we need to look forwards, not backwards. It's counter to the purpose of our being here.

IMO, the crash of oil price was the cause of the mess we were in yesterday. This whole 'post consolidation' price fall has certainly made me think about NR, LGO & my investment, but I found myself focusing predominantly on the many bad moves the company has made.

However, looking on a more positive note and providing NR sticks to the plan, in 8 months we should have another 8 new wells pumping.

We had an avg of 459bopd from our existing Goudron wells. In 8 months time we should have an avg of 500bopd from the 10 new Goudron wells currently being drilled. Forgetting about EOR pilots, SWP and Cedros etc, that's 959bopd in total.

959bopd x £40bp = £38k per day before costs

Considering any shut downs for maintaining the pumps, storms or general operational issues. Say 25 days per month we are active...

£38k x 25days pm = £950kpm before costs
£950kpm x 12 months = £11.4mpy before costs

After tax, G&A, OPEX, LIND etc, come January 2018, we should be making enough money to start adventuring into our new or existing leases with generated cash. Lots of room for increase in WTI let's not forget. That'll get LIND off our asses faster.

In a more rational mind, I feel that NR is between a rock and a hard place. IMO, I am happier to take a hit with dilution to generate more cash temporarily, than spiral into the web of debt. IMO, I think we may even see a further dilution in the coming months to further drilling.

This is all IMO of course and I understand that others may disagree. Personally, Im gonna stick this out. I can still see the horizon in this ol ship.

If your unfortunately down to a massive low and you do not see the horizon that I do. Is it not better to sell at a massive loss? That is not a dig in anyway... Compound your loss at better places, there is many out there. It shouldn't take too long, its the magic of maths as Einstein put it.

If you willing to stick, cool. If not, best of luck for the future. Onwards & Upwards LGO.