Member Info for Danker

As per the RNS OP310 share will likely be diminished or sold covering the costs
Continue discussions as per RNS on funding , by the sounds of it they took the best option ( if its looks too good then it probably is) what a lesson, other lines re opened.
Re group focus on the other assets which has potential
LEK are a producer and the potential is still good although losing OPL310 is not ideal even if the costs were high
BOD should be replaced
Share price shows the lack of credibility but personally it may recover to 40/50% v Monday in the medium/short term
Placing may be an option
Then start again, but all involved at that level should step down , Incompetence.
Likely JV or I do wonder if a predator may just take this opportunity based on OPL325 etc

Pawn
Yep can see that happening , very likely, talks as you can see from the RNS have already started.
That will cover the monies owed for sure if they sell their share of OPL310.
Then focus on the other asset
Then a major JV or buy out
Lord Lekan gone
Reading the 6 month financial report posted on the website, financially stable , until now of course.
In my opinion this will settle , and LEK will need to react fast, life goes on , although the SP diminished by 60%+ .
GLA

Taff
Agree , has to be one step up from the worst RNS you would like to expect and it’s only a little step up.
however just wanted to work out how much their OPL310 is worth , would it cover the debt,
Based on the 232mmboe P50 and could they find a buyer worst case , operating costs , reserve etc it would easy cover that debt but a lost asset in company terms.
Still quite unbelievable.
But wish everyone luck for the next few days we will need it.

Pawn
https://www.lekoil.com/nigeria-dahomey-basin-opl310

So 232mmboe P50 recoverable for LEK according to LEK investor
So 232million barrels of oil equivalent at P50 (median)
42 gallons of oil (159litres) in one barrel today prices circa $58 per barrel

Pawn, agree now trying to estimate a value on OPL310 worst case, if they had to sell that asset

If they sold the 17.14% on OPL310 any ideas on the value anyone ?

Agree Roty with your previous post, re interest payment.

New NED’s and their due diligence may have raised the alarm bells.
plus the previous resignations ?
Guess time will tell, hoping for a quick response.
GLA

Additional 1% can only help us
Solid review from Oilman Jim
Nickel , great posts by the way
Fundamentals ....
Sure Lekan wants to get to his starting reward point as quick as possible and sustain it as per the agreement
Good luck everyone, may good fortune come your way.

New investors , do your own research ,study the company or companies in depth, read carefully the RNS from any company you intend to invest in.
Do not invest your hard earned money on other people’s opinions alone as you don’t know their motivation, learn the filter button.
Some great people on here, and obviously some wxxxxxx nicely demonstrated.
I know all the above is obvious to the majority but don’t like seeing new people getting caught out by being persuaded not to invest or being persuaded to invest by trolls, rampers , de rampers and general people who do not have any moral.
Research is key , set your strategy and all the best.

Interesting top share and an opinion held by many that gold will continue to rise 2020/2021.

Gold in 2011 was a very similar price to today s price
Kefi share price was slightly different, multiply by one hundred , £1.57 In Jan 2011, and we are at £0.165 LSE (or £0.158 depends on where you look)

Guess we will wait and see , Saudia results , the confirmed payment hitting the bank account first tranche $9.5M this month then that target should be history.
No debt , and hopefully as stated Tulu Kapi being the largest single exporter generator for Ethiopia.
Now that would be something to be proud of.

Not ramping as we need to wait and see but researching the history and I am very aware there are people that have been in this for years ,and will likely tell me to sod off , but finding the history of the company interesting., and hoping it can restore the faith for those long term investors and impact positively Ethiopia, and Saudia of course but they may be slightly wealthier.

Good luck to all

Could they hold their news until this has finished
We could be a while ...