Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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They were supposed to raise the 170 million dollars for Otakikpo OML 11 by the end of 2019. We are 26 days past due on that deadline but taking into consideration that their partner GEIL started work last week...that funding cannot be far off.
Just imagine going onto that listing now at the current SP and with a view of trebling production.
They as in Lek were ‘ seriously considering’
https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2019-07-09/lekoil-contemplates-nigeria-listing-as-output-seen-to-triple
You're all welcome :)
As I said before many things going in the background & the new BOD must be very busy at the moment after last week's agreement with Optimum Petroleum , there are several imminent catalysts on the way, confirming cargo lift & new CFO appointment RNSs should land anytime next week and provide shareholders with a noticeable recovery in the share price from this ridiculous level.
The company has been listed on AIM for 7 years and since 2013 it only fell below 4p on two occasions, once last June before it bounced back up in July and last week so its not more than a waiting game for the patient ones but very much worth the reward in my humble opinion !
WoW ! ~~~~ Some great research here ~~~ Many thanks Guys !
Good summary earlier Danker. Good to see a fair few putting in the effort to research and more importantly sharing!
Thanks All, especially OMITC. E AL. Mr B
Going to be an interesting next couple of months
Correction Savannah Petroleum not Savannah Oil...this is the link from 4 days ago stating there are also on the hunt for more nigerian assets...interesting that Lekoils OPL 276 has 2 old discoveries and 2 Gas discoveries...is this company about to be stripped of its assets by the vultures circling above...Seplat, Addax and now Savannah...
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.hellenicshippingnews.com/savannah-petroleum-says-nigerian-gas-purchase-is-just-the-start/&ved=0ahUKEwjwvoSgzaHnAhVIQUEAHbQkCPsQxfQBCCgwAA&usg=AOvVaw0s4HgGJL9GnTB_i5NpEdZO
I think this has been posted already but this is from November 2019 about Seplat and Savanah Oil wanting to takeover Lekoil or some its assets. This was the press release...
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.vanguardngr.com/2019/11/lekoil-stakeholders-panic-over-plan-to-covet-assets/amp/&ved=0ahUKEwjU0ZS1x6HnAhUYE8AKHUb_ATcQyM8BCC0wAQ&usg=AOvVaw1a9W8X5BK3xcHQ4_-EKG8T&cf=1
That combined with the latest press release from seplat wanting to expand through more acquisitions just adds to the speculation that Lekoil is very vulnerable to a takeover...
https://www.google.com/url?sa=t&source=web&rct=j&url=https://leadership.ng/2020/01/26/seplat-to-sustain-more-asset-acquisition-in-oil-industry/&ved=0ahUKEwjPlsqByqHnAhWRlFwKHYFyBZQQxfQBCCgwAA&usg=AOvVaw3J_HZyoaV3VHGaKiltZ3P_
With E_AL interesting inside man take over by Addax, could there be a bidding war ?