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LGO Lgo Energy

0.00 (0.00%)
19 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lgo Energy LSE:LGO London Ordinary Share GB00BDGJ2R22 ORD 0.05P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 3.05 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 3.05 GBX

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Posted at 12/6/2017 15:36 by 12bn
12bn12 Jun '17 - 08:00 - 1041 of 1046 1 0 Edit
LGO will have to raise more cash soon,regardless of who is the CEO. It has risen on hot air and TW ramping,this will result in a placing before the bubble bursts,imo. LGO is a loss maker and having oil in the ground is different from having it in the pipeline. NR tried deep drilling,shallow drilling,work-overs,reperforations but nothing worked. Talk is now of water-flood being the magic panacea here but if that was likely to work why didn't NR try it? He tried everything else. The answer is cost and the patchy nature of Trinidad oil. Evidently the oil has migrated up from lower down creating pockets of oil but this may mean that waterflood is an unworkable pipe-dream. A £16m market cap is far too high for what is a big loss making company with no guarantee of success but a track record of serial placings.
12bn12 Jun '17 - 08:20 - 1042 of 1046 0 0 Edit
What will happen when Koot re-launches LGO? My guess is a massive sell off, as the hot money 'sells the news'. This share price is silly,far too high and anyone buying today deserves to get the screwing that they will get,imo.
arrynillson12 Jun '17 - 09:10 - 1043 of 1046 0 0 (Filtered)
Posted at 11/6/2017 06:53 by brasso3
To put the madness of the current share price/ market cap. into context I was having a look at the current status of BPC.

- BPC have no P2 reserves and LGO have 12m BOE.
- BPC cash balance at end of 2016 was $1m and LGO currently have around $2.5m.
- BPC have no production and LGO have around 500 BOPD.
- BPC market cap is £15m and LGO is £17m.
- LGO have Leo Koots!!!

The AIM market can remain distorted for a long time and it takes time for true value to come to fruition. You need to have the patience to see these mis-understood investment opportunities out.
Posted at 06/6/2017 07:59 by arrynillson
More panic from 12bn this morning - looks like the Cornflakes went down the wrong way after he reflected on the financial consequences of yesterday's big rise in share price - never encountered a poster claiming no financial interest in a share who got so excited about share price upward movement!

Shameful disloyalty shown to his best mate TW - what about all the good times you had with his tosh - doesn't that count for anything?
Posted at 05/6/2017 17:18 by nexus7
From Cebo456 Today 16:37

RE: looks to be alot of..

Chesh, I think their were a lot of investors in the background waiting for LGO to start moving and some have jumped in today, there have also been rumours over the last couple of week relating to some sort of deal with James Parsons and Echo Energy, albeit that Echo are mainly Gas focuses and LGO oil.

What did impress me was what Leo Koots achieved in Aberdeen with TAQA and after that he could have cherry picked just about any job in the industry and chose LGO. I also watched one of his first interviews at LGO and he was very focuses and impressive.
I was initially waiting for LGO to announce how they were going to fund the work overs/water flooding etc before buying in here, but suspect now that however it is done, it will not be detrimental to the share price so bought in this morning, as a medium/long term hold and hoping for some good news this week or next to get us on the journey.
Posted at 04/6/2017 19:54 by nexus7
From get_rich_quick Today 15:40


Shares in LGO Energy (LGO) have started to tick higher and closed last night at 2.5p mid - well up on our 1.8p offer price share tip of just over three weeks ago. Four things are happening and we are increasing our target price to sell from 2.7p to 3p and even that may have to be increased again. So whaat are the 4 reasons?

1. The overhang of shares from the last placing has almost been cleared. That process had held the stock back but it is now almost over. And that means that the shares will move sharply on any (good) news.

2. News. Sources close to LGO are suggesting that new boss Leo Koot has his first big deal in the bag and that news will be out within weeks. At this stage we do not know what it is but folks who should know seem very bullish.
3. We also note that share ramper Malcolm Graham Wood seems to have stumbled on LGO in the past few days. Amazingly some people follow this fat old sod. It cant do any harm.

4 . And this could be the biggie. There was news yesterday from BP. It has announced that its Trinidad & Tobago unit has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad, which have unlocked 2 trillion cubic feet of gas.

BP also said it has plans to develop its Angelin offshore gas project, with drilling due to start in the third quarter of 2018 and first gas expected by first quarter of 2019. Development of the Angelin project will include four wells and have a production capacity of 600 million standard cubic feet of gas a day, BP said.

Why does this matter? Well that 2 trillion TCF of gas is very close to LGO's acreage in the South West Peninsula. It is "nearology" at play here. LGO's current £14 million market cap fails to discount even the possibility of these vast gas plays extending into its acreage.

Hold on very tight indeed. We increased our price target to sell to 3p+ earlier and even that is starting to look rather boring and cautious. An exciting few weeks lie ahead

- See more at:

(XYZ: T.W. Site)
Posted at 02/6/2017 10:12 by 12bn

Latest Share Price (p) 2.55 Net Gearing (%) 13.76
Market Capitalisation (£m) 11.86 Gross Gearing (%) 21.01
Shares in issue (m) 539.20 Debt Ratio 10.63
P/E Ratio -10.48 Debt-to-Equity Ratio 0.45
Total dividends per share (p) 0.00 Assets / Equity Ratio 1.27
Dividend Yield (%) 0.00 Price to book value 0.60
Dividend cover (x) 0.00 ROCE (%) -53.41
Earning per share (p) -0.21 EPS Growth (%) 40.00
52 week high / low 4.08 / 0.09 DPS Growth (%) /////Look at that market cap,nearly £12m! LGO is a loss maker remember,anyone buying this any where near this level deserves to lose big time.
Posted at 24/5/2017 19:50 by arrynillson
12bn - why the obsession with the share price if you claim to have no financial interest in LGO - very strange - btw, if it helps, feel free to burst into tears every time the share price rises!
Posted at 19/5/2017 11:20 by jcgswims
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.
Posted at 19/5/2017 08:23 by 12bn
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.
Posted at 17/5/2017 08:24 by 12bn
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.
LGO Energy share price data is direct from the London Stock Exchange

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