UK 12:39 Friday, 6 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Yesterday was a momentous day for AIM as we saw David Lenigas depart his role at Leni Gas and Oil (LENI). Lenigas stepped aside from his eponymous company and gave way to a new number of board members. He leaves behind his legacy if only in name and maybe salaries will rise, but should we be sad or is this a great revelation?
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Comments
Duck and Dive
Let’s face it: without Mr Marmite, LGO would be just another ho-hum AIM cash guzzler trying to eke a living from a played-out oil field. The reason it became something of an AIM darling has little or nothing to do with its modest assets or its other directors and everything to do with Mr Marmite’s followers and their belief that no-one is better at pumping up a share price without any help from fundamentals. I suspect that most of them are only in for as long it takes to catch the next spike.
If I am right, it seems likely that many LGO shareholders will now depart – hopefully to be replaced by more serious investors if they can be persuaded that the fundamentals of LGO stack up. But I think the new breed will need more evidence than is currently available.