UK 11:37 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.
Yesterday as LGO Energy (LGO) raised £1.36 million gross, I published the emails showing how David Lenigas stated that the company needed £5-6 million to turn around. Even that was a lie predicated on silly output projections, but on the sums raised LGO is just fucked, it has merely postponed crunch time from April ( 2-3 weeks) to May, lets call it 7 weeks.
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Comments
wildrides
More complete garbage from Whinny Froth today . Relying on the accuracy of Data in an e-mail ( sent confidential and not for publication ) from a broker who knows Jack Shite about Jack shite , that was never intended for public release in the first place ,is tenuous at best . No due dilli would have been done on that data . The RNS said the placing was an interim measure until May while they work on various funding methods . OIl price is going up (WTI now 39.5 $ ) the royalties are being lowered , and overhead costs are being cut .
Duck and Dive
Finally you have seen the error of your ways and now admit that your claim of yesterday that LGO owes $10.3m to the bank and $5m to creditors was wrong. At least now you have the quantum of the total debt + trade payables correct at $4m less, ie $11.3m – which is kind of important when you are advising a lot of innumerate people whether to buy or sell a stock.
However, you are wrong on the split. The bank debt is $6.3m and the trade payables is $5m. Even your chum Jason said that the bank debt was $6.3m in his quoted email – but you were probably confused by him using UKP instead of USD.
So, 18 monthly repayments on $6.3m works out at $350k per month — not the $570k you claim above.
Now, as I pointed out in my 16:19pm comment yesterday, it does not require a huge leap of faith to see LGO netting $552k per month by May given that they expect to increase production to at least 800bopd, the price of oil is rising and their margin is increasing.
Trade payables of $5m still have to be worked through but I’m sure you will agree that trade creditors are easier to manage than bank debt.
PS. LGO SP is up 8% at 0.275p as I write so you seem to have worked your magic again.
TW Note: You are not reading the article & are ( again) talking 100% cockDeepPurple
Wildrides, Winnifroth has got you on LGO I’m afraid. He’s playing with you. Giving you enough rope to hang yourself every time, taunting you to post another moronic comment defending an unprofitable Aim POS. The Goudron field is a lemon.
Why don’t you concentrate on making up silly names for people. “Puke in a tin”, “A Broom and a Finch” , and “Winnifroth” etc . You’re quite good at that.
wildrides
Hmmmm more defamatory comments removed by TW, I must rush off to go swallow some more Aussie rubbish
Duck and Dive
“TW Note: You are not reading the article & are ( again) talking 100% cock”
Is that the best you’ve got? An adult would have apologised for the LGO disinformation you have inflicted on your readers over the past couple of days. But no worries – I can read between the lines.
PS. LGO finished up 10% today. Will you be giving them another boost tomorrow?