Re: This SP seems much too low to me now Never mind several dilutions over the last few months it's endless dilutions over the last few years, alas.. What's a billion or two more shares when you've already got a few billion in existence Amazingly this got to 4p last year. Including large further dilution - and probably some more to come again, in due course - and a recovering POO I'm only saying 1p is doable in the next 12 to 18 months.. and perhaps .5p this year.. but .20p is a long way from either of those figures.. an unreasonably long way right now, in my mind.
Re: This SP seems much too low to me now I agree and also hope that it will improve but is the fact we have had several dilutions over the last few month not holidng this back. I don't have the number to hand but would this not impact it?
This SP seems much too low to me now This was at a low of .14p when there was a strong chance of bankruptcy and POO was on the floor. LGO now have meaningful funding to further develop Goudron and are very likely to markedly increase production in the coming year plus. POO is now back towards $50 pb and looking like it will continue rising - in a meandering fashion perhaps - into the $60's + in the coming year plus . Also LGO's government royalty payments on output have been revised down. Yet the SP here is now just .21p. That seems too low by a good ways to me. I hope others see it the same way and it will increase meaningfully in short order. (No idea why Arraya Ltd were selling at these levels but hopefully they'll stop now and this will start to rally to a more 'appropriate level')I strongly believe there is significant life in this dog yet.
Re: A bit surprised this SP at this level no... Right approach NtM - hope it works out for you. Timing (and a bit of luck) is the key. Watch out of rthe accounts, which they'll try to slip out quietly soon, without anyone noticing. They'll show the company has one foot in the grave and the other on a banana skin.
This will come good again. All the ducks are lining up nicely 😉
A bit surprised this SP at this level now Clearly these guys aren't as trusted as far as they can be thrown. Which is entirely understandable given what has gone before.That said, I'm still hopeful that this can make half a penny later this year and if oil goes back towards $65-70 in 2017 and these guys seriously increase daily output over the next year plus - already planned for and entirely possible - I could see this getting to 1p in 2017.A dodgy stock that's high risk for sure but they're now back in play for a while yet, whatever. And ramping/greed can readily kick in again here. (= convenient memories for many )
partin.......... ..........LGO seems to have been 'partin' you from your money. This is one you wrote on 11/12/2014:"This is a definite HOLD, good Management in place, and strong vision for the future 10p share early 2016".....................you were only 50 times out. Speaking as a t====er who would never invest a penny in any company which Lenigas and Ritson (or any of the directors who are probably still being well paid as the situation grows steadily worse) had anything to do with, I'd try something else if I were you.Lots of fun and games going on with the shares - lining up positions for when the music finally stops. Gotta hand it to Neil and the boys though - they've defied gravity for a lot longer than I thought they would.Quack, quack - bang - aaarrgggggggggggh
Tick up Looks like the 1.7 billion shares have been bought, taken over a week. We should see some ticking up in the Share Price soon. Hopefully not to long before we are back to 0.0030p. LGO has a plan in action, to get the company back to 4p again. It will be slow and gradual but we will get there eventually.
Re: RNS placing Agree, nice to see were not going bust as some t====ers predicted good result in bad market conditions for every oily
Re: RNS placing Massive further dilution of course but LGO will now survive for at least a good while yet and get the chance to develop Goudron meaningfully further. So the game is back on here.I don't think the placing price is too bad for such a large placing.No idea where share price will go in the coming days but I now see good potential for it to move up meaningfully thru the rest of 2016.. subject to POO averaging North of say $55 in second half.Let the sport commence
RNS placing Sneaky 17.17????????
Dead DUCK in the water just like M. Tmhh.............
RNS LGO Energy plc31 Mar 2016 070:12LGO Energy PLCRNS Number : 6205TLGO Energy PLC31 March 2016 For immediate release, Embargoed until 7.00 am 31 March 2016 LGO ENERGY PLC("LGO" or "the Company"Notice of General Meeting LGO has today posted to Shareholders a circular and notice convening the General Meeting of the Company to be held at 200 Strand, London, WC2R 1DJ on Monday 18 April 2016 at 10.30 am. The circular and notice ("the Document" will be available on the Company's website www.lgo-energy.com and copies of the Document will be available free of charge during normal business hours on any weekday (except Saturdays, Sundays and public holidays) from the registered office of the Company at Suite 4B, Princes House, 38 Jermyn Street, London SW1Y 6DN from the date of this announcement for a period of one month from the date of the General Meeting. 1 IntroductionOn 16 March 2016, the Company announced that it had raised £1.06 million (before expenses) by way of a Company arranged placing of 424,209,334 Ordinary Shares at the placing price of 0.25p per Ordinary Share. The Company has also raised a further £0.30 million (before expenses) at the Placing Price subject to shareholder approval at a general meeting. The purpose of the Document is to provide further details of the Second Placing and to seek the approval of Shareholders of the Resolutions which are necessary for the Second Placing to be completed, to issue new Ordinary Shares in order to settle debts with various outstanding creditors, and provide additional authority to allot shares to raise funds should the market conditions permit. 2 Background to and reasons for Second Placing2.1 As you know, the last six months have been a difficult period for most oil companies and certainly that has been true for LGO. Nevertheless, the Company continues to produce oil in Trinidad and Spain and is now more optimistic about its future prospects as commodity prices start to turn around.2.2 In April 2014, LGO embarked on a multi-well program at the Goudron Field in Trinidad designed to increase production and reserves. The well program, conducted in two campaigns in 2014 and 2015, was additionally intended to provide the necessary information for the design of an enhanced oil recovery ("EOR" scheme. In 2014 a total of eight wells were drilled to the deeper C-sand reservoir and production increased to a peak of over 2,000 bopd in early 2015. As a result of additional work, the best estimate of oil in place ("STOIIP" within the field increased in June 2015 from the previous independent review in 2012 by over five-fold and was estimated to be 805 million barrels. 2.3 Proved (1P) gross oil reserves in the producing Goudron Sandstone and C-sand reservoirs increased by over 110% to 1.54 mmbbls, and the gross proved and probable reserves (2P) increased by nearly 60% to 11.37 mmbbls.2.4 On the basis of the 2014 drilling program, a further seven wells were planned to the C-sand reservoir in 2015, and a pre-paid swap based loan was arranged with BNP Paribas to fund that work. An initial drawdown on that loan facility was made in March 2015 and a program of wells was designed to both increase production and increase knowledge of the C-sand so as to permit a water-flood EOR. Unfortunately during the final phases of drilling the seventh and final well of 2015, the downhole equipment became stuck and despite extensive fishing attempts the equipment and the well were both lost in October 2015.2.5 This mechanical failure and loss of the last well of the planned 15-well program, GY-678, had immediate and dramatic impacts on the Company. The covenants on the BNPP facility, principally relating to liquidity, were breached and BNPP moved to restrict access to the accounts holding funds already drawn agains
Re: Gaining momentum 100 million BUYS and 50 million SELLSand only up 10%. Price is definitely being held down, but WHY.......?????
Gaining momentum 66 million shares dealt this morning. Any reason why.....Feels good when LGO is on every ones radar.Maybe some more news soon