LGO Energy Share Discussion Threads

[nexus7] 20/5/2017 20:42

From Vmax Today 18:50
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RE: I just can't....

Ah, Valueit, I am one of those that bought in at sub.7 in old money and then lost circa £200 k . So I don't have to preach to anyone mate, I invest and do as much homework as I can but I never foreseen the stuck drill or the total collapse in POO.
The reason that I am still here is that I understand the infrastructure and the acreage that we own and not just Gourdron.
I know the trouble that we had trying to get the leases on the Cedros field as most land owners had the land for so long that there was no paper work and that in itself was a mammoth task.
I realise that Gourdron did 4200 at its peak with badly drilled wells in the 80s by Texaco and that the infrastructure has all been updated by running a new 4 1/2 pipe line along side the old 2 7/8 pipe line to improve flow rates from the settlement tanks to the sales tanks and the settlement tank has had a refurbish along with the sales tank battery .
We also have the land cleared and the bunds in place for 2 number 5000 barrel tanks and that is a meg job in its self as the bunds have to accommodate 110% of the tank capacity and each of these 2 tanks are some 30 feet wide and 40 feet high.
Allm of this is payed for and we are still here with new management that sees growth in electric pumps and EOR and workovers without spending £500,000 on a 55 bopd well . I say to you now that the company has never looked in better shape and I intend to reduce by deficit in this company by either holding or adding at certain stages.

You can call me every name under the sun but nothing can compare to years of research on a company and wish I had did all that research and was just buying in now .

I lost more than most and yes I am still here and can see a revival of the company as we are asset rich and cash poor but it is a fickle market and can change overnight.

I can post all day to the informed but those that have no information to share should not be making any statements as they know nothing IMO

[euclid5] 20/5/2017 11:18

Hello Prototype,

Based on the below that the new CEO mentioned, how will he get one of these 15 opp's, surely he will have to pay for them?

"Koot has said that they won't be doing any drilling any time soon and are looking to innovate and says they have come up with 15 opportunities to build on the base from which he intends to generate cash"

[euclid5] 19/5/2017 20:57

Thanks for your informative posts Nexus7

Out of interest does LGO own part of the below license - Southwest Soldado discovery?
Or are you just highlighting the discoveries onshore near LGO's area licenses?

The field has been dormant for 25 years and has not been produced due to poor infrastructure. The field is in shallow water off the Caribbean twin-island nation’s southwest coast and is just 6 miles from Venezuela. It is thought to contain 43 million bbl of proved reserves.



Thanks

Mr E

[jcgswims] 19/5/2017 19:50

From Horseyhead

RE: Bang for buck.

Dr Krishna Persad, another source of great information for LK to work with. He has a wealth of knowledge about t&t geology and eor....

[nexus7] 19/5/2017 15:21

Oil Rises to Three-Week High as OPEC Members Back Cuts Extension

→ Most participants favor 9-month extension: Algeria’s Boutarfa
→ U.S. crude output fell first time in 13 weeks, supply drops

Crude rose to a three-week high after Algeria said an extension to OPEC’s production curbs would be backed by most participating countries.

Futures climbed 0.6 percent in New York. Algerian Energy Minister Noureddine Boutarfa said Thursday that most OPEC members support Saudi Arabia and Russia’s proposal to prolong the curbs to March next year, and that the rate of compliance should increase. Prices had fallen earlier as the market got caught up in the turmoil surrounding Donald Trump. ..

[thenorth] 19/5/2017 15:17

12thrush... you are in more dire need of a blow job than any man in history.... from your boyfriend naturally.... PmslWho did that HAWK and XTR investment go for you after???

[nexus7] 19/5/2017 15:11

baggytrousers

Thanks for your link. Next time try this trick.

[brasso3] 19/5/2017 15:10

New at SOLO today!!!

The meeting has been called to seek Shareholder approval for (i) an update of the Company's Investing Policy in line with the clarity prescribed by the current market guidelines, and (ii) authority for the allotment of shares necessary to make the second stage investment into Helium One Limited and to raise further capital as appropriate to pursue investments potentially available in the current market.

Ritson is addicted to placings!

[baggytrousers] 19/5/2017 13:20

Share Talk have since added on a written Shareholder Q&A answered by the BoD at LGO which you might be interested in.

hxxp://www.share-talk.com/share-news/lgo-energy-plc-aimlgo-video-interview-qa-with-exec-chairman-leo-koot/

[jcgswims] 19/5/2017 13:17

Ed, no problem.

From Share-Talk

RE: Share Talk Today 14:09 get_rich_quick :) We left in your full questions because we want share holders to know and understand these are gen questions from true investors..

LGO - Leo came across willing to help and speak to share holders.... Listening & looking at his past track record, i think you's are in good hands.

[edgein] 19/5/2017 13:00

Jcg,

Thanks for posting that. Can't wait to see Mr Koot's forward plan for these assets. A jv on Cedros with a carried well would be superb, if that's the way they decide to progress there.

Regards,
Ed.

[jcgswims] 19/5/2017 10:20

Share talk Q&A



Share Holders Q&A

Please supply 2016 prod figures for Spain & Trini as for 1st time they were omitted from annuals.
The 2016 accounts state that Group oil sales averaged 464 bopd, whilst Spanish sales averaged 86 bopd

Was application paperwork done following 678 to enable sidetracking or re drilling (stated as prob preferred option at the time) from a new pad allowing for trajectory bypassing of stuck drill location below the 9 5/8″ level.
Well GY-678 is being re-evaluated in line with Columbus Energy’s focus on maximising economic flow from Goudron to deliver shareholder value. We therefore are considering all options before making any decision.

It appears as though there may be a lull with imminent drilling operations, apart from converting some of the wells to electric pump for enhanced performance – will the electric pumps provide enough additional Bopd / revenue to allow for further cash flow?
All economic opportunities to increase production will be considered. Due to the low variable costs on incremental barrels, each new barrel is valuable to Columbus and will contribute positively to cashflow

What is the expected / hopeful increase in Bopd with using an electric pump?
We have just started the review programme and cannot therefore provide a specific number. The company keeps an open mind on the possible benefits

What are the costs related to using them (I presume any cost is off-set against nodding donkeys maintenance).
We cannot provide specific numbers on the costs just yet until a full test is done, however all investments must be value accretive to the Company and to Shareholders.

Why, in all things holy, did NR not consider using these types of pumps (too expensive / not aware / unavailable).
Historically, a number of production enhancing activities have been considered and executed in the field. We are now trying to apply additional optimisation methods

Why did no-one from the original LGO team recognise the fact that the oil from the shallows could be from a larger oil deposit? How is it that you’ve just come along and suddenly noticed it? What did you do to recognise this?

Historically, a number of production enhancing have been considered and executed in the field. We are now trying to apply additional optimisation methods.

Re 678 could you not re enter and drill a deviated sidetrack around the lost tool?
Sidetracking the well is a possibility, however this may not be the lowest cost, or optimal solution.

Lgo was/is notorious for being a leaky ship, moving office will potentially plug one massive hole, is there more you can do to plug more holes before the good ship Columbus sets sail
LGO has kept high standards of confidentiality in line with its legal and regulatory requirements. There is much speculation on the bulletin Boards and this speculation should not be mistaken for access to information directly from the company. As has been stated, Columbus Energy intends to move offices imminently and will continue to look for the best solutions for the Company and for Shareholders. Columbus will continue to be compliant with all its legal and regulatory requirements.

Does Leo intend to utilise more of the Lind debt facility or does he see an end to that arrangement in favour of a better deal elsewhere?
The Company has access to a number of potential sources of funds. The Lind facility will be considered as part of the wider availability of funds and will be evaluated on its own merits.

Neil had ambitions of doubling current production by the end of 2017. Is this potentially still on the table with the direction you are pursuing for 2017?
We will seek all optimisation and economically attractive production enhancing activities. Further updates can be expected after the initial review.

Can you commit to a date by which you will give a detailed plan for the next 12 months? The plan needs to include overall strategy, but also concrete actions with targets, clear financial objectives and deadlines
We are early in the process of the review and intend to update the market and shareholders in due course. Leo however has already mapped out his personal intentions for the next six months.

Cedros/sw peninsula was intended to be jv/farmout/free ride. Is this still the case and does he see more of Columbus’s assets being operated on a jv basis allowing the company to expand further into South America without overstretching itself ?
There are a number of ways to fund the South West Peninsula assets including farmouts/JV’s. The Company will endeavour to find the most effective/efficient solution for this and future activity.

A lot of SHs seem to think you are well connected which could give us access to funding. is this correct and what would this mean for Cedros. If not correct could you outline your thinking on potential funding strategies for the Cedros field?
The Company has access to a number of potential sources of funds. The most appropriate source of funding will be considered for each specific investment opportunity.

I’d like to know what happened to the storage tanks and LACT meter do we actually have them where are they? Will they be used??
The company is utilising all plant and machinery to enhance asset value.

What is the latest on the upgraded pipeline that was installed?
This has been upgraded and is in use.

I assume these were put in place or actioned owing to the then presumed increase in production?
This has been upgraded and is in use.

I’d like to know the latest on BOLT?
Whilst the company has not completed the acquisition. Ahead of closing the deal, it has already started operating the field, completing the first sale in early May.

In addition where is the finance likely to come from on any acquisitions or drilling?
The Company has access to a number of potential sources of funds. The most appropriate source of funding will be considered for each specific investment opportunity.

Spain – how much did we get for the oil produced there and was it all sold successfully?
All the oil was successfully sold. The price was a market related price, a discount to Brent.

Will there be any future thoughts on a share buy back scheme to reduce the amount of shares in issue.
The company has not issued any guidance on this. Right now, the company believes that the best use of cash is to enhance production in order to build a strong exploration portfolio

What are we doing with the Ariel information that we paid for had it given up any potential sweet spots?”
This data has been used throughout all the assets in Trinidad to help identify the best targets.

Thank you to LGO Energy Plc and Leo Koot for answering share holders question.

[knicol46] 19/5/2017 10:13

on the move last traded 6%

[theprototype] 19/5/2017 09:52

12bn

Yes I agree with most of what you say and I too would ignore the write off in the annual report and look at £4.7 million or so in losses for 2016. You keep misrepresenting what I'm saying. No-one thinks that Koot is going to turn CER into a profitable business overnight but that's not required on AIM or markets in general - look at Tesla for example. Fundamentals don't seem to matter any more. You could have called LGO, QPP and any number of other shares correctly and still get stung by Lenigas ramps etc even if the company is an out and out fraud like QPP.

The sad thing is it doesn't pay to be smart these days you just have to go with the crowd and be slightly ahead of them or know what program the algorithms are running. It sucks but that's the truth. VSA are suspect, all the markets are suspect and I don't trust anyone. We can only think within the new parameters. In my mind CER is at historic lows, they should have been bankrupt but they're not. They have a new very impressive CEO and they do not have to publish any bad news for a long time. VSA are scum but they will aggressively market this new company over the coming months.

I have said all I need to say over my last 3 posts and stand by everything I have said from day 1. I have nothing more to say so we will meet again at the end of August and see whose predictions were more correct.

[knicol46] 19/5/2017 08:53

cant quote at current offer to buy

4 mm's control this stock - 2 parked on 2.5p current

[12bn] 19/5/2017 07:23

Lets look at reality here. LGO loses £2m every 6 months (we can ignore the 1 off massive losses in the last report). These group losses were with over 400 bopd but they didn't include repayments to Lind! Even if Koot manages to reduce the losses and increase production enough to offset the natural declines from old wells,I doubt very much that he can get LGO to break even point,never mind to a level where Lind can be paid off! Drilling wells has been a waste of cash but it gave PIs hope but now there is no hope imo. The only chance LGO has is raising MASSIVE amounts of cash and doing a JV on a gamble expensive drill to the Hererra sands,imo. The other alternative is LGO slowly goes bankrupt imo. The AIM market can over value shares but it needs a 'good story' and LGO does not have one,imo.

[12bn] 19/5/2017 07:13

The prototype,you are a ramper eos,with a market cap of £11m a 400% rise to £44m on nothing but a change of CEO,a change of name and a few tech tweaks isn't going to happen.

[nexus7] 19/5/2017 07:09

From Garnhiem. Today 00:16
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RE: Bang for buck.

he Columbus Basin, forming the easternmost part of the Eastern Venezuela Basin, is situated along the obliquely converging margins of the Caribbean and South American plates. The two primary structural elements that characterize the basin are (1) transpressional northeast-southwest-trending anticlines and (2) northwest-southeast-oriented, down-to-the-northeast, extension normal faults. The basin was filled throughout the Pliocene and Pleistocene by more than 40,000 ft (>12,200 m) of clastic sediment supplied primarily by the Paleo-Orinoco Delta system. The delta prograded eastward over a storm-influenced and current-influenced shelf during the Pliocene-Pleistocene, depositing marine and terrestrial clastic megasequences as a series of prograding wedges atop a lower Pliocene to pre-Pliocene mobile shale facies.

As a result, several observations were made regarding the basin's geology that have a bearing on exploration risk and success: (1) megasequences wedge bidirectionally; (2) consideration of hydrocarbon-system risk across any area requires looking at these sequences as complete paleofeatures; (3) reservoir location is influenced by structural elements in the basin; (4) the lower limit of a good-quality reservoir in any megasequence deepens the closer it comes to the normal fault bounding the wedge in a proximal location; (5) reservoir quality of deep-marine strata is strongly influenced by both the type of shelf system developed (bypass or aggradational) and the location of both subaerial and submarine highs; and (6) submarine surfaces of erosion partition the megasequences and influence hydrostatic pressure, migration, and trapping of hydrocarbons and the distribution of hydrocarbon type.

[nexus7] 18/5/2017 22:11

From the above link

LGO has a number of high quality assets that can deliver value in the short and medium term
• Goudron (9.2 p/share)
• South West Peninsula (13.4 p/share)
• “Management has managed to steer the business through this tough period and now the
Company is in a significantly stronger position moving forward...”
• “..importantly LGO preserved its reputation as a valued operator in Trinidad…̶1;

[nexus7] 18/5/2017 21:55

From Garnhiem. Today 22:35
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RE: Bang for buck.



Page 16.

[nexus7] 18/5/2017 21:48

From Garnhiem. Today 20:42
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RE: Bang for buck.

The field has been dormant for 25 years and has not been produced due to poor infrastructure. The field is in shallow water off the Caribbean twin-island nation’s southwest coast and is just 6 miles from Venezuela. It is thought to contain 43 million bbl of proved reserves.

[nexus7] 18/5/2017 21:45

From Med_is Today 20:12
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Neil Ritson a Wanted Man

So on the brink of being exposed he steps down, am I the only person willing to pursue him? What happened to monies raised under last Spanish oil sale? funds raised from last two placings? shares issued to him as 'back-pay' and those to contractors? Who were those companies affiliated to?

Shareholders want answers, the man exploits investors for his own and friends financial gains and expects no repercussion? A criminal investigation needs opening up on this man and his merry followers, then I follow through with the civil.

[arrynillson] 18/5/2017 20:46

theprototype - btw I've been thinking about a possible change of moniker and as you were one of the first to be impressed with my original choice I would value your contribution - KingsofLeonillson isn't quite hitting the spot for me!!!!