Tigger - although i too very much lament the disappointment of 678 i can't retrieve the lost equipment or posture LGO to negotiate compensation but the Sorgenia payment was a monkey on our back and i'm glad it's going - would i prefer it if we were on 2000 bopd plus already, building upward momentum - of course, but i have to comment on how it now appears to be and consolidating production would be good for the SP IMO!
lfc - although you are still a bb BFF i have to agree with Horseyhead - same comment went to avowed LTH EBD recently - good practice to include IMO but most of us get caught up in the moment at times when commenting on this intriguing company!
BTW just to give some balance i could suggest that if LGO are able to prove production momentum it may be possible to refinance the BNP loan and free up our cash buffer thereby avoiding a placing although if a placing is necessary to support a good business case i'd be supportive - particularly if it's done as a rights issue - a subject i have emailed Neil about.
in4 - haha you throw up a good point there! It's funny that some of the most bullish posters have claimed that LGO's infrastructure is not up to the level of handling 2000 bopd, whilst the more bearish ones have said there was no problem with its infrastructure.
TBH though you have to agree that if someone had posted in January that production would be below 2000 bopd in summer 2016 it would have been met with laughter. After all they were already doing about 1500 bopd at that point!
basically they are trying to get interest in America , TBH I never expected us to go this low but every oil company are having their problems at the minute , not just us . T&T are doing all that they can to promote the industry, look at emilys post and to be fair , the update that 2000 bopd wont be met in August 2016 is only what I expected. its not a bad thing as the agreement will have run out and I only think that we have enough infrastructure to accommodate 1800 bopd anyway. POO will increase, profits will increase and drilling will increase along with infrastructure updates.
It is a struggle , that for sure with anyone invested in the oil game at the minute, look at the North Sea or where ever you want to look and its a struggle.
Do I want to sell at the bottom ? don't think so , I want to add at the bottom as the bounce might be slow but it will happen IMO
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