Member Info for E_AL

Riverfort wants their money back so they don't care about the free fall of the share price and will continue to convert more of the loan & chunk the shares on the ASK and offload in bulk to any update from the company. Knowing nothing tangible will be achieve here anytime soon, I can see the sp settles around 0.5-0.6p

Someone seems to be hoovering the cheap shares here, it makes you wonder about the reason behind the unjustified sp drop this morning

08:55:42 2.974 233,826 £6,954
08:54:59 2.970 336,520 £9,994
08:41:00 2.945 207,712 £6,117
08:36:11 2.95 423,323 £12.49k

MrBelfort, yes it was a buy because the tiny buy before that one was mine, I paid 3.05 for the little top up then the ASK climbed up to 3.09:

13:19:53
3.0492
25,278
£770.78

Agree oneandonly1 which is why I topped up this morning :)

I believe he is out by now and all the sells came from traders jumped on board before closing on Friday hoping to ride a spike but when it didn't happen in the early morning many of them have sold. Personally I just topped up & bagged 150,666 @2.99 , a price I didn't dream to see today. MANY imminent updates expected from LEK so I am extremely happy with my topup!

Rocket man , you are very strange person I must say ! Lol

“There is a lot of talk about gas monetization, what initiatives are you looking at in that space?

Lekan Akinyanmi is the CEO of Lekoil:
We have a company called LEKGAS that primarily focuses on gas. For example, in the Otakipo field, we are actually flaring some gas probably around 8 mscf but we commenced plans towards bringing it down. We have brought in some generators that supply around 6 megawatts of power generation and we are waiting for the system that will clean up the gas so to speak before we can put the gas into the generators and with that, we will have LPGs.

For Ogo field, obviously we need to get the ministerial consent sorted out first. This is an asset with 3 tcf of gas, 20 km offshore Lagos. Our focus is bringing in the gas to Lagos first so that it can have a key multiplier effect for the economy and make a huge difference. We are quite keen on gas. For each asset, we look at the optimum gas driving system and we are ready to invest in it.”

https://bit.ly/2SlQZ5N

Great momentum today & obviously the volume is back (2.5x times the average daily volume) . It looks like Baron is finally out so I think the share price will likely climb back up to settle within the 4-4.50p level (pre QIA scam) until the next RNS which in my opinion is imminent.

This year will be transformational to LEK so best of luck to all shareholders !

This has just been reported and its what stopped the sp from breaking 3.4 p:

14:09:21
3.212
1,000,000
£32.12k

Baron is very likely out & great buying pressure is building here so breaking 3.4 shouldnt be a problem

Look who is here, the rocket man himself ha :

"@Rocket13: And what do you think about the virus is it going to drive to market down like The Ebola did

It did affect the oil prices already Because some of transports in China stopt,And even the virus gets worse It doesn’t matter where you invest everything will go down"

More chunky buys towards the closing ;)

14:07:25
3.37
500,000
£16.85k

14:07:02
3.37
237,389
£8,000

Already 3/4 of the average daily share volume reached!

"t doesn’t matter where you invest everything will go down"

Rocket13 if this is what you think then if I was you I would sell everything I hold in my portfolio and wait until Coronavirus is over...........

Danker, I totally agree . MMs have been manipulating the BID/ASK since the opening. These buys gone through within the last 5 minutes :

09:02:00 3.06 230,000 £7,038
08:59:32 3.022 70,000 £2,115
08:59:15 3.03 50,000 £1,515
08:59:15 3.02 68,790 £2,077
08:59:09 3.02 120,838 £3,649
08:58:21 3.02 24,999 £754.97
08:57:44 3.02 150,000 £4,530
08:57:17 2.935 54,777 £1,608

On NEX :

30/01/2020 08:56 300,000 3.017
30/01/2020 08:53 32,694 3.025
30/01/2020 08:27 25,000 2.989

Someone been loading non stop since the opening!

Danker, two transaction just gone through:


08:47:05
2.925
122,397
£3,580

08:46:54
3.0298
200,000
£6,060

As you can see the sell one was at 2.925 even though the highest BID showing 2.72.

MMs are after the stop loss orders ....

Guys, I'd recommend to cancel your stop loss orders, 15 transactions gone through since the opening, 13 of them were buys but MMs have been playing games by dropping the bid to trigger your stop loss orders. Obviously each to their own but I am on the L2 since the opening and I can see MMs playing games here

I just read the following on another BB and thought to share it with you all:

“ 29 Jan '20 - 13:11 - I have just sent Sunny Law an email via his oilvoice contact and will report back any reply. Does look rather an interesting potential development given the recent goings on here.

Are SEPLAT finally going to show there hand ?? have been rumours before that they are interested in some of LEK,s assets.”

“ 29 Jan '20 - 23:04 - Guys it looks like corby was right,i have had an email exchange with the journo and he comfirmed the tweet.I have emailed a reply with a few further questions and am awaiting a response,it does seem like something has been worked on and will be announced shortly though.

I reckon SEPLAT are going to buy one of Lekoils non core assets personally as we know they been sniffing around for a while now.Interesting times ahead.”

Taff, I think you are the last person on this board who has the right to talk about someone’s true colours. Someone how doesn’t hold any shares in this company, yet deramp it persistently aiming to spark panic amount genuine shareholders to sell for loss money to serve your pathetic agenda (always tagging your posts with a strong sell)

Truly sad & pathetic way to make living ...

“ If I was a canny CEO who cared about my SP I would wait until the seller was finished. before releasing any big news.”

I absolutely agree Harts .. a couple of months ago I emailed MD of one of the O&G AIM listed companies and im his reply he mentioned the following : “we always try to “maximize the value and timing of our update to the market.”

alcira16247

Very sorry to hear about your loss, as you probably know this is AIM and over 70% companies suffer from substantial loss in the value of their share price after being listed on the exchange.

I 've been through the same with Angus Energy, the only difference was BOD deliberately lied to shareholders on several occasions over the past two years which resulted in the share price losing over 95% of its value :/

Anyway, I appreciate what you said about Africa and all the money needed at the time to bring Otakikpo to production but thats in the past now and unfortunately it happened on the expense of LTHs ........

The site is up and running now and it is generating a decent stream of cash to the company, yesterday the company confirmed the 1st oil lifting for this year for a total of $7m and its expecting another $7m in 4-6 weeks time, the total of these two figures is almost equivalent to 80% of the company's current MCap !! and if you take into account the value of all other appraisal assets in LEKOIL's portfolio (appraisal not exploration!!) then the share price should be multiples where we are now.

I appreciate the financial challenges in securing funds for OPL 310 but LEKOIL has a sufficient time now to sort out this and if they couldn't get the fund by July 2020 for any reason then as they said in a previous RNS : "failure to make this payment on time may result in Lekoil and Optimum jointly seeking, and agreeing on, a willing buyer to whom the transfer of Lekoil's 17.14% participating interest in OPL 310, as well as all the financial obligations related to OPL 310, can be made. "

So they'll get back the money which they paid for 310 and probably with a nice profit.

In my opinion whoever investing at this ridiculously cheap sp level counts as a "bottom feeder" & will benefit from inevitable sp recovery. Unfortunately LTHs holdings above 10p will need to wait for the company to secure funds for 310 or a new player to join the JV to see their money back.