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Caps Lock on… DAVID LENIGAS on this week’s Share Views!! Watch here

Share Views Episode 10 - DAVID LENIGAS talks Gatwick Gusher and AAAP


Lgo Energy Share Chat (LGO)



Share Price: 0.11Bid: 0.1075Ask: 0.1125Change: 0.0138 (+14.29%)Riser - Lgo Energy
Spread: 0.005Spread as %: 4.65%Open: 0.0975High: 0.1163Low: 0.0975Yesterday’s Close: 0.0963


Share Discussion for Lgo Energy


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goupplease
Posts: 6,505
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Mike
Today 23:03
When mike Ashley heard jeremy corbyn was going to make £ 10 minium wage he phoned him up and said"£10 is that per day or per week"
 
bonker99
Posts: 31,744
Premium Chat Member
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RE: Advice
Today 22:46
Nobody else fancy a 10x for Xmas then?

Just asking ;)
rossannan
Posts: 536
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Price:0.11
RE: Recompletions good, new wells b..
Today 22:32
In4C

An "estimated cost of less than US$500,000 per well", whatever that means, is not low cost, not for LGO and not, in particular, for the shareholders who will be diluted to pay the bills.

Do you think the new GS wells are worth doing at current WTI? NR likes to hint at rosy scenarios but they just don't materialise. Though the recompletions are still worthwhile (being properly low cost), just look at what NR hinted that the recompletions might do and then look at what they actually did.
Garnhiem.
Posts: 200
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RE: Recompletions good, new wells b..
Today 22:03
Well GY-673 is the second of seven wells currently planned for 2015. The Goudron Sandstone was encountered between 530 and 1,710 feet measured depth ("MD") with an estimated net oil pay totaling 657 feet. The oil and gas bearing C-sand interval was encountered at a depth of 2,670 feet MD and the total depth ("TD") of the well was 3,193 feet MD.

LGO is pleased to announce that production has now commenced from a new oil pay interval in well GY-673, the third of its planned heavy work-overs at the Goudron Field in Trinidad. A total of 106 feet of perforations were added to the Mayaro Sandstone, at depths between 1,567 and 1,706 feet, in a reservoir interval that has previously not been completed for production.

GY-50 at the Goudron Field in Trinidad. A total of 197 feet of perforations were added to the Goudron Sandstone, also known as the Mayaro ‎Sandstone, at a depth between 1,134 and 1,616 feet, in an interval that has previously not been completed for production in this well that was originally drilled in 1930.

GY-277, the fourth of its planned heavy work-overs at the Goudron Field in Trinidad. A total of 45 feet of perforations were added to the Mayaro Sandstone, at depths between 500 and 631 feet, The well is still cleaning up and is currently producing at a rate of 34 barrels of oil per day ("bopd").

A total of 89 feet of perforations were added to the Mayaro Sandstone, at depths between 1,265 and 1,385 feet, in GY-668 and a further 45 feet in GY-288 between 1,236 and 1,289 feet. These reservoir intervals have not previously been completed for production.

The GY-668 well has been placed on pump production and after clean-up produced at a rate of approximately 15 barrels of oil per day ("bopd") of 36.6 degree API oil.

The oil gravity recorded from initial production in GY-288 yesterday was 32.7 degree API. The well is undergoing clean-up and is anticipated to produce approximately 15 bopd once stable production is achieved, which will lead to payback in between 2 and 3 months.

GY-277 appears to be the only possible shallow depth well that has been recompleted? Taking in to consideration of amount of perforations and production output!
in4cedros
Posts: 1,912
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RE: Recompletions good, new wells b..
Today 21:56
rossannan - NR has issued masses of rns and excepting the LACT situation I've seen no evidence to disprove what he says - ( I think people now understand why LACT wasn't acquired but he should have chosen a better wording ).

When NR is too conservative people like you seek to undermine the company - example being the less than 6 months payback on Recompletions which was honed down largely because of your challenge to his strategy, which you now applaud!

The mid term strategy is to attack GS like a pin cushion - at low cost - close to roads - own rig - largely own staff - but one drill at a time and need to be self financing and clearly economically viable. There is risk here because viability is dependant on POO and whilst that is known at drill commencement it is not known throughout production.

I suppose LGO could cover that risk in the futures market but this would be another cost and I would argue shareholders in an oil company expect to assume that risk!

We are an oil exploration and production company so investors have to assume the aforementioned risk and a number of others - otherwise don't bother - stick to your Post Office book - no one is twisting your arm to be involved!
S4LMO
Posts: 3,635
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Is it true
Today 21:19
Poor freezer ramped them self to death today ?
rossannan
Posts: 536
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RE: Recompletions good, new wells b..
Today 21:07
mumbles356

Extrapolating from the recompletions, GY-673 in particular, I was working with an average of 30bopd over the 2 years. I think GY-673 is the best clue we have because it is a modern well with hefty GS pay, albeit that its primary target was the C-sands.
itdoesntmatter
Posts: 45
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RE: Advice
Today 21:06
Lol... understood. I've realised this game isn't for everyone, I haven't had much luck here but hope the tide will turn at some point :)
get_rich_quick
Posts: 5,670
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RE: Advice
Today 21:03
My goodness, please don't take my opinion as advice.

That said; I will say it's my honest opinion, which on this board is a huge minefield.

ATB.
itdoesntmatter
Posts: 45
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Opinion:No Opinion
Price:0.11
RE: Advice
Today 20:52
Thank you GRQ.




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