UK 18:55 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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A short bearcast as I am set to fly back to the UK soon. Shame, shame. I start with earnings visibility looking at Gable (GAH) and Asian Citrus (ACHL). One is a shite investment the other is going down the pan completely. Then it is onto LGO Energy (LGO) which, with the curse of Lenigas, is in the latter category. I explain why BP rumours are just bollocks.
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Comments
Antondec
May I humbly suggest some titles for tomorrow’s Bearcast?
Rob Terry: Happy to announce our engagement and impending civil partnership
David Lenigas: Introducing our new editor at Shareprophets
Andrew Bell: The unacceptable face of capitalism
China: Why we’re buying shares
Property: If you can’t beat them, join them
Gold: Inert in every sense- Amanda Van Dyke goes short
Shorting: The great wickedness of our time (I’m looking at you Evil)
Socialism: I’ve seen the light (you capitalist bastards)
Duck and Dive
TW note: I have already explained why you are wrong on this ( as you were on Fastjet). You might be better at spotting typos than me but your maths & accounting gaffes suck. I am awaiting your apology of Fastjet and net cash you tosspot
Over to the innumerate:
This might have been a good opportunity to apologise for disinforming your readers on 16 March about LGO’s indebtedness to BNPP and suppliers (”$10.3m” plus “$5m”). The sums are clearly set out in today’s RNS and their current net indebtedness to BNPP is $4.87m to which LGO want to add the $4m which has been sitting in escrow.
They also need to come to terms with trade debts which will amount to $5.11m after the GM on 18 April (assuming the resolutions are passed). It remains to be seen how many of the then extant trade creditors will accept payment in shares and how many will be paid out of the BNPP $4m drawdown. Depending on workover success and the price of oil, some may even be paid out of cash flow.
Anyway, the outlook for LGO is tense as they race to increase production and net revenue to a level which will support their monthly repayments to BNPP which are slated to be $520k per month from May (if BNPP release the additional $4m to them).
Of course, if LGO can stall their trade creditors for another month or two, they could sink that $4m into new wells which might transform their prospects within a few weeks. They allegedly have some alternative funding options too.
So, tense – but not without hope…and they are much better off than your misleading 16 March calculations suggested.
Bearfacts
Hope you enjoyed your hols and had good rest, I bring to your attention BBM hero Hague and London Oil (HNL).
Released 18 months figures today and sp is crashing, obviously if you look at the figures it’s all out of cash and placing is ahoy….
Apart from that it seems interested in acquiring assets in oil rich ‘Holland’. Anyway this company has burned millions in the past 18 months for very little, since it is a ramped BBM fav I thought you could give your opinion.
All the best.
Duck and Dive
@TW – the jury is still out on Fastjet so my advice would be not to jump to conclusions based on any of Stelios’ infamous rants (which were apparently sparked off by his mystery shopper not realising that an early March flight to Nairobi was nearly empty because of an advertised terrorist bombing alert at the airport). Meanwhile, ShareProphets has so far ignored Fastjet’s RNS yesterday in which it stated that, following deliberation by its lawyers, it believes that it has never transgressed the terms of its brand licence. So, sit tight and wait for Stelios’ next outburst. Or, if you like, complain some more about Fastjet’s refusal to answer your questions – although I’m sure they will be answered in due course in the timely and proper manner, ie not by responding publicly to unsubstantiated rants in the media.