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LGO Energy (LGO) the Trinidad focused oil production company announced last week another positive update on their 2015 drill campaign at the producing Goudron oilfield, Trinidad. So what do the maths really look like?
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Comments
doc h
Why no RBL, instead bucket shop placing?
Why no info on decline curve/rate on NEW and existing Wells.
I said it at 7,6,5,4p that LGO had big black spots that are not clear or visible.
I accept it may do a swing move towards 4p but fundamentally it’s not good enough IMHO
Bests
Doc
DUCK AND DIVE
I think you need to factor in the terms of the BNP Paribas oil-swap agreement which effectively delivers 250,000 barrels over 30 months into BNP Paribas’s coffers. At the time (March) LGO said this represented approx 15% of their forecast sales over the period — which works out at a forward estimated average of 1875 bopd approx.
Oil Man
Absolute joke, LGO is a typical overvalued and overamped stock. There are far many better stocks out there. Hugely overvalued, every RNS is a massive PR spin. Just look at the other Trinidad producers like Touchstone and Trinity, valued less than LGO (by far) but both with far higher productions and 2P reserves.
Constant placings with LGO are a hinderance, RNS releases are just used to ramp share prices. For example the assets Trinity Inniss and Tabaquite were both ‘bought’ by LGO. Have they finalised on either transaction?, nope. Highly unlikely they ever will. Production numbers are put in RNS statements when they feel like it (i.e. when they are good’), haven’t had long term decline rates either which are huge onshore Trinidad. To keep production high they are going to need millions to keep drilling and keep drilling to bring new wells online.
yotomo
hey Andre,
would you mind sharing how you came up with the $37 cost figure?
Mark
“Just do the math” unfortunately that is one thing you can’t do with this company, never have been, and never will until Ritson stops his witchcraft. Placing within 8 weeks
Stilbite
WELL I AM GOBSMACKED …
11th April this was a DOG according to you MR Tom in your webcast… A “Serial Confetti Issuer” your statement blared out. “ABSOLUTELY CERTAIN TO HAVE TO RAISE MONEY!”
But at the time.. actually on the 17th March LGO had sorted out funding for the whole 2015 drilling program!
You actually also said “is it making money.. WE JUST DON’T KNOW”!
OK we are 6 weeks down the line from that statement but there is STILL NO EVIDENCE that LGO are making money so WTF justifies you to say .. “Results for LGO Energy will be out in June, I would expect them to be pretty good,?
YES things can change in an hour, day, week, month but if so.. STATE you may have made a bad judgement and NOW I SEE THINGS differently.
So if six weeks ago it was a dog and now it’s a greyhound… how did you suss the pedigree?
MARK… placing within six weeks … LOL!!!
TW Note I am NOT ANDRE BRAND we disagree but I believe on free speech so we run all views on this site. Not hard to understand is it?