UK 17:57 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.
After yesterday's dire news from LGO Energy (LGO) which saw its shares slump to 0.31p the case of Tom Winnifrith vs David Leni-Maths continies and I now bring you another piece of evidence, possibly the worst broker note in history. Analyst Barney Gray at Old Park Lane was either on crack cocaine when he penned this classic back on 21 February 2012 or he was simply writing exactly what the share ramper David Lenigas told him to write. My guess is that it was the latter as Old Park was joint corporate broker at the time. Anyhow, Barney told us that the shares were a buy at 1.2p with a 5p target. But it is what he says in this nonsense that is of real import.
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Comments
wildrides
Evening Whinning Froth ,
I see your pumping out more shite about LGO above . Infact a right collection of floaters .
Instead of relying on Brokers Notes ( which you tell us are useless when discussing any other company ) from 2012 why not look at the officail RNS from the company published this 26th February 2016 :-
“The Company estimates that at least 200 bopd of production potential is available from existing wells in pending resolution of funding arrangements for workovers. A campaign of 20 new Goudron Sandstone wells at an estimated total cost of US$9 million is also on hold with an estimated incremental production potential of over 1,000 bopd.
The Company is also in discussions with the Petroleum Company of Trinidad and Tobago Limited (Petrotrin) on adjustments to the overriding royalty rates paid on Goudron oil production to better reflect the economics at the current oil price. At present prices and existing overriding royalty rates for Goudron production continues to make a positive cash contribution to the Group with marginal barrels estimated to generate an average net cash after tax and royalties of between US$8 and US$10 per barrel.”
Note that WTI price has increased since publication of the RNS which adds extra income .
The American loan of 20 Mill is intended to settle the BNP loan in full and pay off all creditors leaving 9 million for the drilling campaign discussed in the RNS extract above . Clearly the American loan will feature a payback duration and payment size modeled to be sustainable at expected oil revenue ie smaller payments over a longer period than the BNP loan it is to replace .
Do try and concentrate old boy ………. we are in 2016 not 2012 and Del boy Lemongas left the business in August 2014 .
Hello ……….. we are in 2016
Yes ………. that would be 2016
As in ………… yes 2016 ( with a 2 a 0 and a1 and a 6 in it ) Yes 2016
Hugs & Kisses
WR