Made a lot of sense to buy in early, just wee bit pleasantly surprised at Neil's early notification. Envisioned one or two more shallow fields (not including Suriname, yet) to keep the momentum going, as per small field success. On tender hooks to see if Cedros will slip a year but in Neil's own words, deep wells at $15M a pop, will in today's climate now take 2 to 3 years to reap a divi. Waiting on further notifications in addition to pad 3 success.
Knoxxy, you are a Kiwi, that makes sense to me now as I have employed a few Kiwis in my time and they all liked to stay around for a year or 2 and then go off on their travels again. They were all good guys.
wow, no holding back on that trip, amazing journey ahead for you and well done bud. Glad to see that you will still be a LGO holder and not like some who seem to think long term is a week or two lol.Anyone with an ounce of research would be holding or buying more if they could instead of selling. I don't gamble with my core holding here as we know it wount be around this sp by YE.
Thanks John, I really appreciate you taking the time to get back to me. I am in no rush for the funds, looking to take some out around March so hopefully all going to plan we will be in a lot better place by then!
I always know there were risks trading shares but I did my research and found LGO to be the share I was most comfortable in. Your aright, nothing has changed except for the positive so this will come right!
Once again thanks for your time, hold strong and long!
I was surprised a few moved out today, oil price is more or less priced in here already, which was confirmed by the small drop after the OPEC meeting today. The company is profitable all the way down to $54 WTI, perhaps even less. Now we have some big news due very soon, a small window of approximately 4 weeks, will see Pad 2 production increase confirmed, Pad 3 in full production, to which I estimate that Pad 3 wells will actually be the best wells so far (2500 psi is some pressure, along with three casing string to allow less bore damage and better perforation). T-I will also be our asset. These are definite news items due in this 4 week period, and altogether they have the push to the Sp, that we have all been waiting for.
I would sit back and let the Sp correct itself, shorts and traders down at this low level do not have a influence, and they also need the Sp to rise.
Another bit of news to hope for, is the debt facility. I have been told it would be mid December at the earliest.
Things change quite fast on AIM, the situation today, may not be the same tomorrow. I do think you will be pleasantly surprised by the year end. The market will look towards production increase as a signal, and it is on its way within a small time line.
While we are not immune from world oil prices, we are in a much better position than a lot of other plays on AIM.
Would you sooner have your money in a play like LGO which is producing and on an upward curve, with relatively low overheads in a proven oil zone or in one of the many AIM plays that are burning cash in the exploit of oil, and who may not even become commercial?
There are a LOT of trainwrecks out there, and plenty of scope for others.
You mention you are out for a few weeks, that infers you are not long term here. Thats your call obviously - each to their own. Perhaps you have got out of the O&G sector altogether for a while and who knows that might be a good call.
My sale trades of 400k and 300k made on the 24th have been bought back in showing a profit of 23183 and 34593 = 57776 share, translated in terms of cash it's around £2,225 somewhat less than usual but it was only a 3 day trade.
I think the main movement for the sp will come on daily production results which are expected.very soon. So,in the interim the sp can be expected to firm up for the weekend maybe dropping a little around the late morning midday period unless there is an RNS.
Trading is not for everyone unless there is acceptance of paying more if the sp does not react as expected.I will always buy in a rising market so no problem.
Most hold stocks with the view for long term holding. In LGO its vital to hold a large percentage long term in case of the unexpected "wild cat" strike which would certainly boost the sp.
Good trio of news items which did nil for the sp because in day to day trading terms they mean little.When the new acquisitions are planned out with drilling action dates then the sp will react . For the moment its all spend,with some cash raising The Air survey will not be cheap and the sp will not move much when news comes of its completion.
I am surprised that no further mention yet of the next part of the remaining 30 well drilling programme. When it is made ,hopefully a second series of shallows then there is hope the sp will react towards the region of circa 7p
In the interim its an excellent trading share.IMHO and DYOR
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