Member Info for Danker

MEM, welcome back
Good luck

And Jenny you are right.
Me and my probabilities.....

We need ‘Colombo’

If they had published for example in Feb March historically then you could assume it’s likely closed rule 21 , Lek publishing them normally in June you could say potentially currently not closed , hence my director buying question.... you could assume they are unable due to price sensitive information.
apologies if I did not make it clear originally ,
Have read the rule book , although being honest not the best read

At least Mr B that the CFO one ticked off.

That’s why I like this board .... answering some of the questions...

E AL , I know , hence I put, if not then price sensitive information anyway so meaning it’s closed

Mr Belfort, really good point , aim rule book page 9 , 17 appointment of any ‘director’ , CFO according to Lek website under leadership team not stated on the board ‘Director’
Maybe the answer,

Hawkes , guess I am just suggesting lots of unanswered questions or the ‘unusual’ , provoke what else are the possibilities , from the outside may look like a dead duck , if you are into Lek then quite the contrary imo, quite complex and as usual PI we can only try and put pieces of the jigsaw together, between us all.

E AL . Agree maybe, Lek posted last two years annual report in June both times just prior to the six months regulation period , closed period aim rule 21 maybe in play who knows if the plan is June ? ... if not then clearly price sensitive, anyway.

Apologies all just trying to think of probabilities.
Friday was an interesting day on volume and yet today.?

Probably easier to sit back, chill, what will be will be.
GLA

180M Assets , 16Mcap
If Baron has sold out or nearly , circa 6% 536M shares circa 30Million
No new TR1 >3%
No director buys not even new NED, CFO at this astonishing price , and we may know why as it would be classed as price sensitive information.
30million shares sold Baron price hardly moved in a few weeks sold to ....
Quiet on RNS
No RNS on new CFO
Or funding for Otakikpo

Quite exciting .....

If bored, you may have read it already

Rule 13/14/15
Pages 6 onwards

https://www.londonstockexchange.com/traders-and-brokers/rules-regulations/change-and-updates/stock-exchange-notices/2019/n0419_attach2.pdf

Makes you think, if it were to happen, what value could you put on LEK based on the fundamentals and potential. (100-150M ?)
Compared to Elands financials, output , asset potential.

£382million for Eland.
Eland's interim results released last month revealed some US$106mln of revenue, up from US$67.4mln in the prior year, and highlighted the continued ramp-up of production in Nigeria as the expectation-beating Gbetiokun field start-up added to its Opuama field operations.

The company has guided for average production of 12,000 bopd to 13,500 bopd for 2019, with an exit rate of 17,000 to 19,000 bopd anticipated.

Good luck all , hope you are all having a good day. patience as we all know. ‘End game ‘
asset sale, T/O, funding

Bizarrely no mention of the new CFO , silence on LinkedIn as expected. so as some suggested either waiting for the prime time for impact or another ‘play’ in action. Seplat must be licking their lips right now.

At least in 4-6weeks Lek will have another 7M in the bank.

All to play for ....

Thanks MEM, for your opinion on a Sunday morning 7.38am , two weeks ago you said you hold no shares , and the offer of £100 to charity if we get to 15p always welcomed , although , the clause ‘without a T/O’.. ha

Have a good day, see you in six months ,
Roll on tomorrow .. let’s see what happens

Maybe I just need to chill out and have a beer
GLA and see what happens Monday.

MrB
How I look at it summarising , happy to be corrected , LekOil circa $30M liabilities, assets circa $180 , revenue 6months $22M est $45M year , 536M shares , Mcap 17M
Loss of $5M first 6 months, could assume that debt management and control could be improved, thankfully new NED’s, CFO.

Based on otakikpo , as production trebles. Jan lift circa 7M due , circa 2300bopd , same in 7M 4-6 weeks , need to fund $68M for the JV ,ramp production 8000 bopd for LEK debt equity which would treble revenue. Game changer.

Then OPL310 232mmb potential to LEK need to raise funds,
License fee paid , planned spud H2
Disputed 22% 13M paid to Optimum to be worked on farm in, Options if no funding sale on 310 or another assets , reduction in stake ? 310/276/325/11

OPL325 Astonishing potential 5000 million barrels of oil , although some time away but 62% owned by LEK.

Seems how ever you work out the book value per share , NAV ( liabilites - value assets / shares) with which ever financial numbers or metrics you use
severely undervalued by multiples 5+ even more

Guess the question is if a sale of an asset or a complete takeover what would someone be willing to pay for any of our assets producing or potential , if we were to sell and not fund , good negotiating team required either way, share price 3p ?

All to play for, think in my opinion LEK are in a good position on options.

Unless I am missing something ? Maybe I am being blinded by the obvious.

https://simplywall.st/stocks/gb/energy/aim-lek/lekoil-shares

Haha Mr B, would be a dissertation and on a phone!
best reading the financial reports, compare to competitors , Investors info , so much you can research etc .. prior to error like I stated.
‘ Hannam & Partners have calculated a risked NAV of 23p a share and an un-risked NAV of 239p a share.’

If you scroll through all the messages from OMITC E AL , I , and various others over the last few weeks , you may have done this gives a very good picture of Lek financial position.
assets , revenue streams, potential, debt etc

This may change , as we may be in a different position, on Assets ? Awaiting the RNS of course.
Either way impact on SP imo,
Hoping for a good finish.
GLA

GLA

Prior to the slight error, we had risked NAV 23p and un risked circa 230p
I have averaged down but confident in my judgement , if I am incorrect no one to blame but me.
If this comes off I will tell myself ‘told you so’ could
not have spent any more hours researching Lek.
Hope it works out for everyone

Who cares Rocket ...
If you could kindly add up the revenue stream from OML11, 276, and the planned increase.
Plus the 310 asset and the potential of 325asset
Remove the debt and opex etc like we all have been researching for weeks.
At some point with all the above it is not 3p whether it’s now or in 3months.

Just my opinion.

Makes you wonder with these odd trades , what are the MM are thinking right now.
GLA

Feels like a coiled spring , the anticipation.

Scruff just my opinion , until ‘battery anxiety’ can be removed , with technology advancements , infrastructure increased, cost of vehicles reduced, recycling issues addressed then believe combustion is here for some time, although rapid developments in battery technology is evident and very interesting
Currently in a hybrid no battery anxiety , quick though ....

E AL , happened a short while ago prior to the RNS.
Pattern matching .. agree with you, hence me saying yesterday busy trading day today imo, saw this last time, gut feeling ‘experience’ alongside research etc by all
Great work.. GLA