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interesting are you a dandy ?????
Although never did say thank you for tipping me off on EUA - Great spot early days :)
Amers with all due respect Metro is crippled in debt, paying a fortune for bonds and interest rates are at an all time low . Not a great comparable.
Unrisked NAV is over 10 x current MC
I wish people would stop talking about what NAV, whch is totally nonsense. Just have a look at Metro NAV/Book value, which is £10 and the SP is £1.75, so NAV means feck all. Please don't let readers think this is worth buying. I am invested here and I for one will not ramp or Deramp any share.
can you explain to me the significance of the spread, I know investing 101
Showing
thank you for taking the time I'll borrow some of your posativity
Also buy is shouting @ 3.19 if that gives you more confidence - the spread is huge :)
GL
2. Unrisked NAV is over 10 x current MC
Short term expectations:
Steady rise back to 4-5p prior to confirmation of €2m payment.
News on re-financing/drill operations/asset sale should lift us to 6p-12p minimum (Upper end is still only £50m M/C)
Potential hostile takeover based on current share price c7.2p - $50m (Low ball) This could be significantly more if more than one interested party. If financing is sorted prior to a potential takeover bid this could potentially 10 bag+ from today’s levels (Blue sky).
Medium term:
Successful drill / increased production without dilution 30-50p+
All IMHO - Although the truth will out as always
Unsure about live trades as tend to look longer term as previously said Nothing goes up in straight lines and I’m confident this will recover to a multiple of today’s price.
You’d guenuinly struggle to find a comparable that is currently producing, has this much potential and such a small MC.
The new CFO (Edward During) has only been in place for two months and has excellent pedigree. Prior to this Edward was CFO for all Addax companies in Nigeria (SINOPEC group company). Led the organization's Accounting and Finance, Commercial, Business Planning, Insurance and Risk Management, Internal Control and Audit and IT functions. Member of the Board of Directors, the Leadership team, and the Tender Board. SINOPEC has been widely reported to be interested in Lekoils assets - Now the question you need to ask yourself is why would he risk his reputation and job security (10 years) to go and work for a ‘minnow’ with a M/C of only 16m. Either 1) Your CONFIDENT in asset, SURE you’ll be arrange finance and you have potential to gain a life changing amount of equity or 2) (And more likely) A trusted inside man completing due diligence for either a partial/full takeover, asset sharing agreement - Note the reserves in CPR. Both of which will result in multiples of today’s price. The strange thing about this appointment is that no RNS has been issued, although it has been confirmed on both LinkedIn and branded web.
In terms of near team cash flow an uplift was completed on 25th Jan with proceeds totalling $7m, an additional $7m is due in another 4-6 weeks too. - This should give further confidence/security Re: cash position. In terms of production For the full year 2019, Otakikpo averaged 5,305 bopd gross with 2,122 bopd net to LOGL. This has been further increased this year where production averaged 5,860 bopd gross with 2,344 bopd net to LOGL - Providing this production can be maintained an additional 77k barrels over the year - Again positive.
The near term deferred payments to Optimum which covers sunk costs - $2.0 million to be paid on or before 20 March 2020 and $7.6 million to be paid on or before 2 May 2020 will be covered with monies received from Shell (c$14m from uplifts) - Positive.
The elephant in the room is that LEK are required to provide evidence of its ability to fund 42.86 per cent. of the costs and expenses for the drilling of the first appraisal well (Due July 2020) and this is where Edward comes in :)
Our assets are WORLD CLASS, our reserves are WORLD CLASS - The fundamentals will shine through - stay strong and be patient :)
A few pieces of ‘potential’ positive news inbound short term:
1. Receipt of $7m payment from Shell (1 of 2)
2. Payment of outstanding liabilities first payment due on or before March (See RNS)
3. New CEO Appointment
4.Partial asset sale/JV agreement
5.Refinancing
6. T/O although if this happens feel this will be hostile
Other positives
1. Spread betting company buying shares to reduce
Please forgive my scepticism but I would have thought 214K trade would have moved the price I now see we are at 2.87, its been a a wee while since we have been here can you help me see the bigger picture in my eyes its getting smaller?
I look on ADVFN where is best would you advise to monitor trades?
Showing on lek.gb.pl
It will 214525 @3.085
Maybe you should top up again it has dropped further
Thank you for your encouragement, your 214K trade hasn't shown up yet.
Just topped up another 214k @ 3.09
Speadex is not a concern they are just laying back a long position that has been backed on there trading platform.
VERY positive news
My new concern is the news that Spreadex have bought in, that might (without any positive info) put off any major buyer?
No need for a while I think but happy to accumulate at these levels fir the next 4 weeks. Be patient. Buy in the dips.
I do, just frustrated at the lack of positive or for that matter any communication from BOD, I would have thought that after last month they would be trying rebuild confidence, the route chosen seems to be PR interviews which in the great scheme of things are sound bites and count for sweet FA.
With the market be pummelled LEK is flat or at least holding out, take grace in that for the moment
All that has happened now is a bookie has taken control of the SP, where have all the trades gone, where have all the posts gone, where has the confidence gone, what has happened to communication? I hear there is a new CFO, no there isn't until it is officially communicated.
I’m calling you on that claim DOF
The founder of Spreadex is a top trader, with an excellent record for trading on best performing companies.
I'm guessing that they see a good up turn on this company.
The information is on Google
Please offer any comments.