Highlander
10 Feb 2015
Lekoil, next on the cards nm
Highlander
10 Feb 2015
Rogen83 You aint seen nothing yet R. Sole. This is the next one to be decimated due to it's envolvement and dealings with Afren just wait to see what happens here when the Afren fiasco is done and dusted. Then we'll see what a percentage fall is.
Rogen83
10 Feb 2015
Re: Be Careful the "be careful" guy is the same person who said he was fully loaded in AFR on 15th Jan at 24p and would be making a 100% return in no time. As it turned out he's currently making a 60% loss instead.....
Rogen83
10 Feb 2015
Re: Watch out talking to yourself again?
Highlander
10 Feb 2015
Watch out For what's about to happen
Highlander
21 Jan 2015
Somebody Is following a similar pattern as to what is currently happening with Afren and Hurricane. They see the potential Lekoil has and so started to decimate it's S.P. by shorting some months ago. They are doing their best to make it look attractive to a predator, and they are now achieving just that.Someone will see it as too good to pass over, and make an offer for LEK. taking it out on the cheap and then these boys will dump what they have and walk away with a handsome profit of at least 100% for a minimum period of time. They really do not give a She itt about Lek. Just how much they can make form this is all they are concerned about. They cannot possibly loose out, as they are making money from it on the way down, plus whatever a T.O. brings in, Or the end result if LEK can resist a T.O., But I don't think these people will leave them in a in a position to resist. There are 2 players I would certainly not rule out and I am certain one of them will swallow Lek up. Afren is almost gone as it is, possibly HUR. next then LEK. or vice versa.
Highlander
14 Jan 2015
Captportfolio You must be gutted with this, well over £600,000 down on your investment and little chance of getting it back especially as if a merger takes place here, which would not surprise me in the least the way they are driving and holding the price down. Someone has EVIL intentions and no remorse for cleaning out the small P I's who are stuck here now having paid much higher prices or like portfolio never took profit when they had the chance. Either that or greed, but either way they could pay a heavy cost for that decision.
Highlander
13 Jan 2015
Heading South Looks like the S.P. is ready to take another battering, and something tells me this will go sub 20p for a good while. Similar to Afren, Lek, and Hurricane seem to be suffering massively albeit for different reasons. Someone here with money has a game plan if you ask me, and I am certain they are using dirty underhand tactics to achieve it even at the expense of the small decent P.I. These S. Cumbags will stop at nothing to achieve their aim.
Rogen83
22 Dec 2014
Afren takeovwr LEK in play or at worst we have a number of potential new partners with financial muscle for developing Ogo
Ripley94
18 Dec 2014
Re: : Future for Lek wish id been even braver..
Rogen83
18 Dec 2014
Re: Big jump From half year report2013)Outlook· Processing of the OPL 310 seismic data is ongoing with fast-track and time-migrated seismic volumes expected in Q4 2014, prior to further drilling in 2015. Detailed well planning and engineering studies are underway.
Rogen83
18 Dec 2014
Re: Big jump Fast-tracked Ogo 3d volumes due soon
MacPithy
18 Dec 2014
Big jump Out of 35 trades many AT's for 5k and 10k slugs someone bottom feeding????
mrposhman
17 Dec 2014
Re: $15 Oil with Pioneer Status! PPT is not half the cost base. PPT is a calculation of the net profit after all costs have been taken into. Then around 50% (as its a marginal field) is taken by the Nigerian govt as PPT. For example, IMO $30 is cash breakeven and not breakeven. Oil Price = $60Operating costs = $14Royalties = $12DD&A = $15Operating Profit / barrel = $19PPT = $9.50Operators netback = $9.50This compares fairl reasonably with the original acquisition presentation where the netback was stated at $28 / barrel at $90 oil. Oil Price = $90Operating costs = $17.80 (what was origianlly stated ion the acquisition presentation)Royalties = $18DD&A = $15Operating Profit / barrel = $39.2PPT = $19.60Operators net profi / barrel = $19.60 I'm not sure why there is that much difference, maybe the capex is significantly below what I have assumed as the initial 3 producers will be re-entries and completions rather than new wells. Actually looking back at the September presentation it actually indicates capx will be around $60m - $75m to bring prodction on stream (3 wells) as they have equity of $15-20m and RBL of $45-55m so actually DD&A could be substantially cheaper than what I have shown which could be the difference to get closer to the $28 netback at $90 oil price.
mrposhman
17 Dec 2014
Re: Curiously Johan, Afren's breakeven is in low $50's, cash breakeven is around $30 (excluding debt servicing costs). I have read the RNS several times and I'm curious on the breakeven comment. I really struggle to see how they can breakeven at $30 on a profit basis, I can absolutely see it on a cash basis but I really struggle when it comes to profit basis. When they originally purchased the asset they were stating operating costs of $17.8 / barrel, now saying low to mid double digits so on the top end around $15 but likely a little bit cheaper. Afren is at $14 so very comparable with Lek. The vast majority of other operating costs are royalties which in Nigeria shallow water are around 19% (these are not impacted by Pioneer tax status, that only affects Petroleum Profits Tax - PPT), so at an oil price of $60 they would be paying $12 / barrel straight to the Nigerian govt. Breakeven at $30 would then leave only a few $'s ($3-$5 / barrel for DD&A), when other similar fields are north of $20. If they go with a phasd approach then capex could be significantly reduced but I' be surprised if their DD&A / barrel is not at least between the $10-$15 range.Whilst early development is still good for Lekoil, I think they profit margins are still slim, but they will be generating cash from ops from probably mid 2015 onwards which is great news. Otakikpo really does look like Lekoil's Ebok if anyone on here follows Afren. I regard Lekoil as a miny Afren and think they will do well over time, as the oil price rises and as they access more fields in Nigeria and the rest of West Africa.
