Lekoil Forum

Highlander & DelBoy Trading: thankfully i don't think anyone listens to Highlander.

Highlander....why are you in this chat room? Your comments clearly show you think current investors are all idiots, or your trying to point out when other chat participants have lost money and you haven't or your incessantly ranting about Bert Cooper working this stock - ignoring the fact that that would be clear stock market manipulation. Constructive comments are very helpful, otherwise please b*gger off - you're tiresome.

JRjnr....I would be very surprised if mgt raised money at these levels. I agree that they need money down the line, but at the moment it would need to raise a multiple of its market cap and that is extremely rare. I think mgt will wait until the price recovers. To60p ish

I wonder if 17p was a key level for stop-losses and the weakness at the end of the day tripped a few of these - hence the large volume.

Yes, I do think it will recover but it will probably be slow whilst the oil price languishes at this low level. Medium term my view is for a 70-80/bbl oil, which isn't priced in now. Company specific catalysts are 1st oil from otakikpo in q3 which I think could push it to 40p+. The seismic analysis from eko is also due this year and there could be big SP movement subsequently IF (1) the oil price >$60 and (2) there is reserve growth (quite possible). These musing are all my own opinion based on my own research. I recommend you do your own research too.

A sensible theory Kalahari2000. Perhaps some investors see the fiasco as further delaying Ogo. Although, in my view this is a good thing because the more cash strapped Afren is now, the more likely it is that it will sell its stake in Ogo - hopefully to a better funded partner who can bring the project to first oil sooner than Afren could. Very curious.

Does anyone know why the shares are down so aggressively today? perhaps we're trapped in a trading range until the announcement of first oil

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Regarding onshore in Nigeria this is affected by losses felt by Shell and you can see comments by CEO to show they know the problem areas.