LGO Energy Share Discussion Threads

[dodge city] 14/6/2017 12:58

No news = < 2.5p

[carpadium] 14/6/2017 12:35

Hardly surprising the MMs walked the price down today, they're stashing them for a very nice profit come Friday.

[the guardian] 14/6/2017 09:11

It looks like one of those days when the MMs will take the price down no matter what. I assume there is a yet to be displayed sell to justify the drop.

[brasso3] 14/6/2017 09:04

Nice little tree shake on a few 100k (£3k) trades! Do not be fooled by these MMs.

[nexus7] 14/6/2017 08:59

From Mohammad247247 Today 04:20
-------------------------------------
LGO
LGO Energy Investor Conference 10th May'2017
Columbus Energy Resources Plc

[edgein] 14/6/2017 08:53

Goodness me we're talking T&T here, not hundreds of miles offshore or in the middle of the Brazilian rain forest. Generators will be used for ESPs like they're used on many fields if that's necessary. Its treating LK as if he doesn't know what he's doing which would be highly unwise at this stage or any stage reading his CV! I've full faith in LK getting the bang for his buck that he's after, just intrigued at present for this weeks presentation to see how he's going about it.

Regards,
Ed.

[the guardian] 14/6/2017 08:15

And a couple of piddly sells drop the bid price!

There are always people worse off than us though. The fire in the London high rise flats is stomach churning. Goodness knows what the final death count will be.
Money isn't everything.

[thenorth] 14/6/2017 08:13

Hmmmm the question of power.... eh dodge...Well knowing how critical those pesky electrons are to things like hospitals I suspect the use of a generator might solve this issue not only power outage but also remote locations...I could go a stage further and suggest we use some solar panels hooked up to some lithium batteries!!! Now who do we know with some of that technology!!! LolI'd crawl back to that pond if I were you....

[thenorth] 14/6/2017 08:10

Dodge that's the pot calling the kettle... don't quite see what you bring to the table... I'm guessing LK flushes more intelligence down the toilet after a curry than you will ever have... pmsl

[thenorth] 14/6/2017 08:04

My my that's a large spread this morning... almost puts you off buying or selling any.....

[thenorth] 13/6/2017 20:50

TG funny old world I think... TW and his prophets predicted 3p and oh look where has the share price held for the last few sessions....Good to take a breather on the way back to where certainly I think we should be.... ahem 30p....!!!Anyway yes good point ref Iraq... I had some shares in a couple of oilies over there and the electric was far from reliable.... let alone the security situation....

[the guardian] 13/6/2017 19:40

Leo has worked in Iraq and Saudi Arabia, so I suspect that he has come across the problem before.

Looks like the enthusiasm for the new company could be on hold until we get some news on the future strategy and timescales.

[thenorth] 13/6/2017 19:08

Hmmmm the question of power....Well knowing how critical those pesky electrons are to things like hospitals I suspect the use of a generator might solve this issue not only power outage but also remote locations...I could go a stage further and suggest we use some solar panels hooked up to some lithium batteries!!! Now who do we know with some of that technology!!! Lol

[corpraiders] 13/6/2017 18:46

Quote:
droftarts
13 Jun '17 - 13:25 - 8181 of 8187 0 0

Have they announced what the new epic will be for Columbus Energy Resources?

Thanks

Droft.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Epic - as in old Hollywood Box office film buster like - Gone with the Wind.

Lol.

[holly day] 13/6/2017 17:48

I'd have thought those type of questions/answers are price sensitive info. So you get a typical company answer. All will be revealed soon enough and no point reading between the lines. IMO, it's all dependent upon what their financing plans are as Ritson clearly raised enough to maintain day-to-day running and each new well required further issuing of equity for a miserly return. With the right type of package a headway can be achieved, just that Ritson had reached the end of his trust in achieving anything meaningful. Clearly Koot has identified various means of progressing Columbus and has the backing lined up.The man has shown he can improve the efficiency without spending a fortune. GL all.

[carpadium] 13/6/2017 17:42

Can't imagine for one moment that Stewart Ahmed, a highly experienced operator who has been studying LGO's Trinidad operations situation for the last month is unaware of the local power supply problems. And come up with a viable solution.

Not long to wait for the answer.

[sean spicer] 13/6/2017 16:00

You can bet NR considered their use and rejected it due to lack of reliable power supplies.

So either something has changed or Koot is talking out of his backside.

[onceatraders] 13/6/2017 15:51

Good Q+A with sharetalk. One issue here though, and a really basic one that I am surprised it has been overlooked or brushed to one side given our new mans experience.


This is an extract of the Q+A that is bugging me:


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


The answer are formatted to be a basic response, so there seems to be no malice, rather the writer may well not have been Mr Koots, but an PR/office. The fact that Mr Koots does not discuss the reason why the electric pumps were never previously used, although considered is a little worrying. Electric pumps were not used as the electric power is temperamental in this area, and therefore there are regular power cuts on site. This is some what offset by the allocation of some back up diesel generators for emergency use, although they have limited uptake and cannot feed the power to the whole field. Each time the power goes, the back up generators will kick in to keep several important pumps workable. But the more additional electric pumps installed will bring a huge problem. A well that stops working has a limited time line to start back on operations before it goes into decline. The longer no power, the more damage or repair it will require. As this was a remote jungle, NR had no choice but to work with nodding donkeys, rather then risk well failure by converting to electric pumps.

Mr Koots should be aware of this basic operational restriction on this field, and that is why I cannot understand some of the answers given.

Lets hope it is just laziness, and the Q+A was completed by a company junior.

For me, it does not sit right. A little too much marketing on Mr Koots and not enough substance, I have seen it here before with his predecessor. I am winding down the position, all the best.

Best regards

John

[wstirrup] 13/6/2017 14:14

I also forgot to mention Brexit, and increasingly the world is becoming like the 1930s, where countries are looking inwards, and becoming more insular...

And most of the people I know over retirement age, stop going to work in the car everyday, and rarely drive outside the 3 mile zone - going just to the shops, to family and to take the dog for a walk... ;¬)

And the wife's new car is (or will be) An Astra Sport with lots of goodies added...

So, not exactly a city car, with a geriatric at the wheel...

She's a six-footer, size 18 and lead footed when she's in a hurry.

[holly day] 13/6/2017 13:52

The ticker in itself will be a challenge! All the related abbreviations are already taken up!