Johandesilva
13 May 2017
Re: This is how it works ... Something must have gone badly tits up. There are chunky institutional sells all the way down to this level yet on paper there is production sales potential and OPL310.For the first time this feels like Afren.
NewKOTB
10 Apr 2017
This is how it works ... And we wonder why it's taking so long for consent for our OPL 310 and why our recent $15 million from Shell is needed !!!!![link] consent is acquired, the brakes will be off, until then no one wants in with LEK atm, just in case.gla
Johandesilva
01 Mar 2017
Re: Holding RNS Becuase this is not a UK company the thresh holds are not the same according to the AIM rules PDF but they don't say what they are for non-UK companies.Bit gutted I bought this at that price when I could have stuck the money in Hurricane Energy. The things that gives me confidence is this is purely a seller issue and the seller holds allot of stock. This means the price will recover given a few days.All good otherwise:1) Geopolitics and the company fine2) Equal companies are doing well (see ELA)3) Oil price strong4) News flow (1 definitive, 1 more speculative etc...)
Nice to Michu
01 Mar 2017
Re: Holding RNS Thanks for the article link JS, that helps.The s/p is coming off a lot which is strange in my mind (indeed I stopped out of 15% of my position yesterday ..)From RNS's so far I see that YF have only declared selling one million from their peak position 43.85m ... for approx. gbp 150 m market cap that in itself is not going to move the s/p down much.. if as you say they are perhaps in the process of selling down the lot - or a lot more - in the last week I'm surprised they haven't incrementally declared this.... I don't know the rules though ..maybe they don't have to next declare until they go under 3%.. and had to by rule when under 8% .. no rule for 5% too for eg.?If it is what you say and they're not under 3% yet.. then it may well come off more.. alas.. although i'm surprised there are not more willing buyers..
Johandesilva
27 Feb 2017
Re: bought anothetr 2k I have added 1k given than fellow Nigerian company ELA continues its late rise without falling back after also producing 10,000 barrel of oil per day for itself. Note however LEK is far more aggressive than ELA and will grow through acquisitions like Afren did into a 1billion+ company.It is hard to find the money to invest here given the success of safer stocks including Hurricane Energy I continue to back. But there is value in LEK and is free from fickle PI's (for now).
Johandesilva
27 Feb 2017
Nigeria Cuts Oil Producing Cost To $27 Per Barrel Good read. Otakikpo marginal field will be producing for even less.Nigeria Cuts Oil Producing Cost To $27 Per Barrel[link]
Johandesilva
24 Feb 2017
Re: Holding RNS Note they must have started selling when the SP hit over 29p.
Johandesilva
24 Feb 2017
Holding RNS Note the date was 10 February 2017 some time ago when the SP started its decline.[link] the 8% is cleared and presuming oil price does not fall we are looking to progress back on the path to 30p with the speculative hope of OPL 310 coming in soon that should drive a step up in share price. How much of a step up I have no idea.
hobione
22 Feb 2017
bought anothetr 2k Topped up - averaged up now and have 7% of my portfolio in here. It has now overtaken RXP as my major oil play. (I will buy some more RXP soon). That's what being a producer means, revenue coming in and will be able to invest in growing the company. For me strong buy but dyor
Johandesilva
22 Feb 2017
OPL 310 article daysleeper on LSE posted an article with very detailed clarification onOPL 310:[link]
gotreal
22 Feb 2017
Re: Trades Upward pressure on price this morning on L2 with 380K on the bid at VWAP 25.3 and 236K on the ask at VWAP 27.6 on a 10% filter.
Johandesilva
21 Feb 2017
Trades I don't have level two but if this was the last of the chunky sells then we are due for a correction technical and the Nigerian oil sector that is up:14:52:19 25.25 (sell for sure)1,246,096 314,639
Johandesilva
21 Feb 2017
Re: At last ! I have added back in for the first time in a few years. Technically good entry. Oil price good for profit margin. Any OPL310 news is a huge bonus as this is a massive field.
gotreal
20 Feb 2017
Re: At last ! Looking at L2 it looks like freely available stock is drying up and I think we may see a rise from here soon ....
Nice to Michu
20 Feb 2017
Re: At last ! PS: as this implementation project definitely did not go smoothly Lek technical experts didn't cover themselves in glory .. and so their ranks likely need bolstering towards gaining as much of OML as possible on as favourable terms.. Also I think they are in a very useful position of having already been granted a lot and courts / government departments having to be take some of it back from them (as opposed to currently fighting to get it granted to them in the first place) ...Top lawyers and good political connections are very important here.. as well as bringing on board technical experts as needs be to the Lek team..
