You're welcome. I like that geek, NR has something about him. He is a technician, a geologists, professor who knows the science but sometimes struggles to communicate his passion. But to be clear, I don't want him to be a DL, I want him to be himself and would love to see him stand up and tell everyone what he dreams of achieving with LGO.
he needs to do it in his style, I fully agree: it will be more credible than DL, but I need a bit of vision, and passion from our CEO. I would love him to stand up and tell everyone where he is taking this company, despite all the low WTI, despite the low SP.
Hello Share Freakies. May I offer a few opinions on the way the world economies are going - and, to adapt the famous line from Harold Wilson - their effect on the shares in our pocket.
First of all, I expect most of us have a load of oil stocks. Nobody really knew that the black stuff would take such a nasty hit starting about a year ago. And so we still likely to have most of our oil shares, hoping for a recovery.
Uncle Tom took to this ravishing website just a few days ago to say that oil stocks should be avoided like the plague.
Maybe there is something in that in the short term. We do seem to be drowning in ebony nectar, if the dropping price of crude is anything to go by. Even Bg (BG.) which will be taken over by Royal Dutch Shell (RDSA) next year is shedding value rather alarmingly.
But the drop in oil price has to be viewed short term. The world is getting ever more awash in people. They need warming, they need their cars and they will want more and more manufactured goods.
We all know plastic comes from oil. Think how many plastic things there are in this planet and how many more will be needed to supply a burgeoning population.
In the long term oil, which is becoming in shorter and shorter supply, will rocket in price again. If that happens, those of us people who now own oil shares need only exhibit patience.
That brings me to other big driver of share prices worldwide. The planet is becoming wealthier. Compare your lifestyle now to that over 20 years ago, if you don’t believe me.
You car is no longer rusty, your home is no longer so cold that ice formed inside your bedroom window. You go on holiday to the Caribbean or the Canaries, whereas once you went to Cleethorpes.
This is only the beginning. The whole world, including the developing nations, are picking up wealth. Yes, there is still world poverty, but that is due to a rising population, not lower levels of assets for the world as a whole
So don't let this month’s falling share prices upset you at all. Perhaps you should prepare yourself for a surge in value - eventually.
Meantime, just enjoy yourself a bit - in the Punter’s Return.
Thanks Mike There's been a lot of nasty comments about NR on this board of late. The thing is no one can be an expert at all things. DL is your consulate showman, the Camilla Batmanghelidjh of the oil business (all he needs is a flowery frock). However, reading the posts on this bb over the last year it would appear that not many wanted him at the head of LGO, with his propensity for risk and eagerness to have a placing dependant on how he felt when he got up in the morning. NR is not an entrepreneur he's a producer, a Geek at that. Sure if we had DL with his megaphone, the news flow would be prolific but the markets would not necessarily be any kinder. I think NR is a plodder, infuriatingly tight lipped after a disastrous flirtation with excessive good news and over optimism. I missed the boat on UKOG, I should have been able to make a few £000 as DL gushed forth his projections, sucking in PIs who probably thought the company was about to go in to production and exceed OPEC in output. Some are now sitting on a huge paper loss waiting and it will be a long wait, for the oil to flow. I'll put my faith in the tortoise. Regards Stephen
Stephen, Glad to see you posting, mate. Your posts tip the balance on this BB towards sanity!
Like many, I feel LGO needs to also work on rebuilding confidence with investors. Not build on "dreams for instant gratification", but based on steady sustainable growth. Built on a clear vision and ditto growth strategy (getting as much oil as possible from fields with proven oil reserves at the lowest possible cost), with cleart building blocks and targets that we can benchmark LGO and this evaluate progress.
I feel NR needs to communicate this sooner rather than later.
What is your view on this? You seem to ga e a lot of business sense. Thoughts? What would you like to hear from NR on this subject? Mike
Emily, Texaco at that time did not have the knowledge of todays oil drilling companies and they drilled the wells poorly and in a bit of a rush, they had no 3D let alone ARK and coiled tubing drilling. In 1982 they drilled their last well in Gourdron , this was because at that time technology had advanced somewhat and the North See was in its infancy with an abundance of oil to be found so like any company that has ambitions they vacated Gourdron and made a play on the North Sea and offshore riches. They would have been mad not to in those days , business is business.
BTW they thought it was good enough in the 70s with limited knowledge so how good is it now , well its at least 800 million barrels of goodness .
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.