UK 18:48 Friday, 23 October 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.
It is suggested by some who still believe in David Lenigas that he has not in fact sold any shares in LGO Energy (LGO) while telling us all how cheap they were but has merely shifted stock into Nominee accounts. Sorry folks that does not wash. Dave & LGO Energy MUST answer in public the questions posed HERE. The facts are simple.
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Comments
johng
it does not matter how many nominee accounts the fatty has shifted his stock to… he will still be the beneficial owner of all the stock so he has an obligation to report his holding.
wildrides
I support your demands for transparency regarding Del Boy Lemongas’s LGO holdings . However it is important to note he has not been a director since June 2014 and nor does he have a managment role . The company is in technical breach of covenants but has continued meeting loan repayments . The company is producing 900 BOPD ( last RNS) and adjusting its cost base to the current oil price . The company may restructure its borrowing or it may place or both . The current decline in share price simply mirrors the decline in West Texas Intermediate oil price over the last Ten days or so . Volume will increase when oil price rises again .
wildrides
continued :- the last WTI peak price was on the 4th NOV 2015 at $48 and at the time of writing today that price had fallen to $41.79 per barrel
wildrides
On the World petroleum products front the news is grim . Output has fallen slightly from a July 2015 peak . However forecasts show a dip in January 2016 bringing output down to aprox Autumn 2014 levels followed then by a sharp resumption in growth back to just above previous peak ( July 2015 ) towards the end of 2016 . Contrary to what might be expected US output from 50 states is not falling or forcast to do so and Canada output is growing and set to do so right through the period . OPEC growth resumes in 2016 according to forecasts along with other NON OECD countries.
Obviously price depends on demand opposite the above outputs . However it looks like Jan 2016 may see a small improvement in prices although this may be temporary . The thing that struck me most is the fact that US 50 state output is flat lining rather than falling and OPEC is pumping slightly more as time goes by ……… tightening the screw ………. but it does not seem to be turning Americas taps off ………. just capping them level .