LGO Energy Share Discussion Threads

[nexus7] 08/6/2017 14:25

Columbus Energy Resources Launch Event RNS Number : 5803H LGO Energy PLC 08 June 2017 LGO ENERGY PLC ("LGO" or the "Company") Re-branding to Columbus Energy Resources - Launch Event LGO, the oil and gas producer and explorer onshore Trinidad with the ambition to grow in South America, which is re-branding as Columbus Energy Resources, is hosting a re-branding launch event at 18:00 hrs on Thursday 15 June 2017 at Patch St Paul's, 58-60 Carter Lane, London EC4V 5EA. The meeting will be hosted by Leo Koot the newly appointed Executive Chairman and other members of the Board. A company presentation will be followed by refreshments. Shareholders and analysts are welcome to attend and asked to RSVP to [e-mail]. Http://www.investegate.co.uk/lgo-energy-plc--lgo-/rns/columbus-energy-resources-launch-event/201706081445055803H/

[ozzmosiz] 08/6/2017 13:41

Keep going....it just goes up....

[12bn] 08/6/2017 13:28

I feel a TIMBER coming on here,3p available for the first to sell but the MMs won't stay generous for long,imo.

[ccr1958] 08/6/2017 13:27

I swore I would never buy any more of these as I have far too many but hey ho ,the future is looking MUCH brighter so in for a .......

[12bn] 08/6/2017 13:22

14:19:14 3.1600 2,564 O 3.0000 3.2000 Buy 4,853,091 3,048,686 14:14:41 3.0000 39,494 O 2.9500 3.2000 Sell 4,850,527////// Is that your £81 buy Ozz? Are you doubling up your stake? Is £81 all the hot money left here? LOL

[12bn] 08/6/2017 13:17

mms paying 3p,very generous and the mice are having a nibble,very wise,bite the MMs hands off! :)

[12bn] 08/6/2017 13:11

The 'hot money' has moved on,only the 'late to the party idiots' are buying now! I would take the 3p ish offered by the MMs before others grab it,imo.

[12bn] 08/6/2017 13:04

Ozz,I understand why you are getting desperate,the facts don't look good do they? Is your filter broken again?

[ozzmosiz] 08/6/2017 13:01

getting desperate! :)

[12bn] 08/6/2017 13:00

FINANCIAL -- Revenue for period of GBP4.55 million (2015 GBP9.48 million). -- Gross profit for period was a loss of GBP0.15 million (2015 a profit of GBP0.33 million). -- Pre-tax Group loss for period of GBP11.89 million (2015 loss of GBP11.47 million). Notes/////// Revenue halved and the losses were an eye watering £11.47m and you lot think a £13m valuation is not bubble territory? This pump n dump by TW and gang is going to cost newbies dear,imo.

[12bn] 08/6/2017 12:57

CORPORATE -- In the 12 months ending 31 December 2016, the Company raised a gross amount of GBP8.56 million through the issue of 5.10 billion ordinary shares at an average price of 0.17p (pre-consolidation equivalent of 3.4p post-consolidation). Of this total, 1.15 billion shares were issued to suppliers for settlement of creditor balances.///////LGO pays suppliers and creditors with shares,this will not change imo. It also raised £8.56m just to keep going,so my guess is a discounted placing will arrive here very soon,you have been warned.

[holly day] 08/6/2017 10:27

Thanks TG and Ed. Mind boggles as to how this all came about with Leo. LGO was in deep poo (no pun intended!) and Leo with his contacts and financial backing could've picked up LGO for pittance imo. It just seems all too amicable for Ritson to just relinquish a 'job for life', living at the expense of shareholders. As you both quite rightly pointed out, DL was caught with his pants down too! In deed the very long term suffering shareholders have been thrown a life line. Well, can't wait to see what unfold here.

[the guardian] 08/6/2017 10:19

Yes Ed and don't forget the exponential rise he predicted in years two and three. Interestingly, the £200 million cap you mentioned currently equates to 37p per share. That would be nice!

[edgein] 08/6/2017 10:14

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.

[the guardian] 08/6/2017 10:09

holly day, as I understand it, two major holders that post on the LSE board organised it all. In fact one of them posted a week or so before the official announcement that he loved it when a plan came together. It seemed nonsensical at the time but he was a step ahead of the rest of us. I don't know how they achieved it because David Lenigas didn't seem to know about it until it happened. Initially, he wanted to be in charge again but I think that once he saw Leo's record, he changed his mind. After all, money is money whether you are in charge or not and DL has a hefty investment here. PS, I see that today's buys have just caught up with the sells. I'm sure the MMs are doing ok out of the volatility.

[nexus7] 08/6/2017 10:05

From GRQ Today 10:37 ------------------------------------- LGO Energy Plc (AIM:LGO) Video Interview – Q&A with Exec Chairman Leo Koot Share Talk 19/05. Http://www.share-talk.com/share-news/lgo-energy-plc-aimlgo-video-interview-qa-with-exec-chairman-leo-koot/

[nash81] 08/6/2017 10:03

12bn i just bought more. i can see this will rise similar to echo recently

[nash81] 08/6/2017 10:02

added some more. nice saying by Malcy we could be echo 2 !

[holly day] 08/6/2017 09:57

Here's a question for you long(er) term holders and FWIW, I've followed and dabbled with LGO for the past 3 years. I of course welcome Leo's appointment, but via whom and how did Leo come to get this job? Ritson was Chairman and CEO. The RNS said Ritson is stepping down. Leo is the Executive Chairman (i.e., no two roles of Chairman and CEO, but 2-in-1 role). Under normal company structure, the man at the helm either steps down because of retirement, looking to head another company or there is a revolt amongst Board or shareholders. Also, there is no recognised (insti) major shareholder to rattle the cage. So, did Leo approach the board with his proposals or was there an external influence? It could also be that Leo, through his other ventures, saw an opportunity to use LGO as a vehicle to build something new or get a foothold in an area where he can build another one of his trademark companies. His proposals obviously met the Board's approval and shareholders had no say in it. FWIW, imo, Ritson staying for another 12 months is nothing but a token gesture. A bit of continuity in the 'contacts' chain + current operations. I'd be surprised if his stay even lasted 6 months especially if Leo accelerates his intended plans. Also gives Ritson to cash in his salary shares. If Leo hand picked LGO as his new vehicle there can be no doubt that a man of his standing means serious business!, else why risk tarnishing your commendable cv in a company that had become a laughing stock. GL all.

[legalease] 08/6/2017 09:37

Agreed, Leo Koots is a very impressive business leader. Looks to me like where back on the up here, both in terms of the business and the share price, which I note has been gently rising since 9.00am this morning despite some people pretending otherwise.

[the guardian] 08/6/2017 09:13

Re twinkletoes, I agree that a man with Leo Koots' reputation isn't going to want to tarnish it by taking charge of LGO. He must be very confident in what he thinks can be achieved.

[ozzmosiz] 08/6/2017 08:22

all the selling ? Only about 18K in sells difference?