LGO Energy Share Discussion Threads

[nexus7] 17/5/2017 17:27

From Alexmoneybags Today 16:38
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Electric oil pump



will we be using new equipment like this?.

[onceatraders] 17/5/2017 17:23

Arrynillson

Well done for discussing it at the webcast. I do see Mr Koots moving in the Cedros direction IMHO. If he is shackled by the IPSC terms of Goudron and if Petrotrin are unwilling to compromise. Then a 100% owned asset will need to come to the front of the line. I would have thought the company would be liable for state royalty only, therefore no overriding royalty or other expense associated with an IPSC field.

Mr Koots has good pedigree, he has the skill set and experience of creating shareholder wealth. Whereas NR was simply a oil man, with no real business / CEO experience. This is where I hope to see a fundamental change of direction, NR kept the Goudron field as main asset, even in the face of declines and cost consumption. I do believe the new man will see through the data pretty quick, I do not expect him to sell or close down the operation at Goudron. But to keep it ticking along for servicing of the debt and contributing to G+A for head office etc. But when we talk about large capex spends, I really hope he puts those funds to work at Cedros going forward.

Best regards

John

[jcgswims] 17/5/2017 12:47

LGO tweet

LGOEnergyPLC‏ @LGOEnergyPlc
“With our baseline production, we are going to build the company into something great”, Leo Koot, on Sharetalk:

[pwhite73] 17/5/2017 11:33

They raised £2.5m in March. They would not be doing a placing yet. These are MM shorts and sells trying to induce losses for investors who bought on the back of the new management announcement. It should recover and soon. Lots of activities at LOG to push this further up.

[arrynillson] 17/5/2017 11:33

12bn - never seen such an avowed claimed non LGO financially interested poster get so excited by a market movement - must be like harem bath time for the eunuch - AGAaaaaaaaaaaaaaaaaaaaaaaIN!

[12bn] 17/5/2017 11:21

LGO Energy (LGO) Trades
2.03
-0.10 (-4.71%)
live: 11:19AM BST///////// TIMBERRRRRRRRrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

[arrynillson] 17/5/2017 10:19

Oncer - FWIW when talking to company officers post webcast I was at pains to stress how important I believed it was that LGO got value from that $1 million plus investment in BOLT through exploitation of deep drilling rights - they were empathetic!

I opined there are a lot of chancers who will enthusiastically support deep drilling at Cedros and the company needed to get on with it by JV, spin off, or otherwise soon as LGO shareholders are patient but like I say in card games when there is excessive dithering ' play it whilst we're still young ' !

[12bn] 17/5/2017 10:15

What will come next? An RNS on another placing imo.

[arrynillson] 17/5/2017 10:05

Rossannan - yes I think Andrew missed a trick not including a few bars of Tony's favourite ' Things can only get better ' in his introduction!

[theprototype] 17/5/2017 09:06

Rossannon

Yes I heard it. I thought VSA's last LGO report was complete garbage but you have to admit they can be effective in boosting a company. CER is a completely new ball game and the share price is coming from an historic low with a credible chief and extremely motivated brokers. I'm not saying that this will be a long term hold at this stage but would suggest that in these circumstances there is plenty of upside in the next 2-3 months for a short term investment depending on how effectively they collectively play the new opportunities on offer.

I still have a number of concerns that I have expressed in my two earlier posts not least that Koot doesn't seem to be aware of quite how unpopular Ritson was with shareholders and why. I also worry how much information he has taken from Ritson at face value. All of this makes me wonder if Koot has under-estimated the scale of changes that he needs to make to re-invent the company which is evidenced by the retention of Ritson in an advisory capacity when most shareholders would have gladly kicked him down the stairs. If he bought into all the stuck drill excuses and was not aware of depletion and Ritson's completely reckless approach as CEO in 2015 then he could be in for a nasty shock. I suppose it will all come down to the quality of research that Koot carried out in his due diligence.

The proof of the pudding will be delivered after they have applied their multiple innovations and come up with a credible development strategy going forward. If they can up production to around 750 bopd with wise capital investment then that will be positive though they will have to keep building production from then on and that needs closely watching.

[onceatraders] 17/5/2017 08:47

Arrynillson

Petrotrin have been loss making for a number of years. The vision they had for IPSC fields has never been successful. To promote more Capex from the contractors, it may have to change the one sided contract in the near future.

I am sure Mr Koots will review the contract performance since 2010, and its historical performance to capex - profit margins. There is perhaps more incentive to move any future allocation of capex to Cedros, rather then continue to allocate all cash/capex it into Goudron. Early days yet though, lets see how the review takes shape.

Best regards

John

[12bn] 17/5/2017 08:24

Funny how share prophets (TW) was negative on LGO for ages after the rumour that he had stopped getting paid by LGO. Now the rumour is that he is back on the pay roll and lo and behold TW and share prophets are all positive again! The facts here are that LGO is a $2m every 6 months loser. Goudron has failed,NR has left and now it is back to the drawing board. Could there be vasts amount of oil deeper down in Trinidad,probably imo. Can this oil be extracted cheaply? Certainly not,look what C sands drilling cost LGO! A few years ago the Cedros Peninsular,the 800 lb gorilla field,was discussed as a drilling possibility but nothing ever happened,why? The reason was simple,drilling to 12000 ft was expected to cost between $15m and $20m then! I accept that since then drilling costs have fallen a lot but LGO is not in a position to pay to drill there,eos. Even if a JV risky drill could be done LGO would still have to do a massive discounted placing. Do I think Trinidad could still prove a winner? Possibly. Do I think LGO will ever drill to 12000 ft? Probably not. Do I think LGO will do another big placing or two? Very likely. Is now the time to buy? Probably not imo. Anyone who is calling LGO a 10 bagger by August is off their rocker or getting paid to say it,imo. What will come next here is another big cash raise,all imo.

[thenorth] 17/5/2017 08:24

Pmsl so Rossannyfanny didn't take you long to get negative on the new boss.... how very predictable you are...Nothing's changed has it.. still an attention seeking paid basher......

[dodge city] 17/5/2017 08:22

I can't see any drilling activity for at least a couple of months.

[seaclipper] 17/5/2017 07:35

I realise there would be a few days before the next well spud, but this is a ridiculous time, what the hell are they doing ffs, the oil is there waiting all this hanging around time costs - get the drill working - get the oil out - make some money.

[thenorth] 17/5/2017 07:06

I hear no complaints... but I did hear a statement of facts....

[apache_dropout] 17/5/2017 06:37

The company has just raised 2mill and Koot is already complaining about lack of cash.

[theprototype] 17/5/2017 06:18

Rossannan

Largely down to the amount VSA is behind Koot. I can see the share price rising for the next few months for the reasons stated but after that its up to Koot to deliver. I'm interested to see who he brings in and the quality of improvement. In the long term he has set his sights on South America not T&T.

[nexus7] 16/5/2017 23:34

From Vmax Today 22:37
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RE: Bang for buck.
A wee tweek here and there and if you get an extra 2 bopd from 75 wells and the 14 Csand wells then that's an additional 178bopd with little to no work. That's like drilling 4 new wells at a cost of $2 million so I believe LK when he says there are other low cost ways .