Member Info for GozoMike

Will the Nigerian government help themselves to Afren assets or divi it up to Afrens partners? Good assets to be had at giveaway prices from distressed seller.

Out tomorrow.

http://www.proactiveinvestors.co.uk/news/details/108075/lekoil-shakes-off-inertia-ahead-of-otakikpo-start-up-108075.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-335799-proactivity-+16%2F06%2F2015

A low of 9.13 could be tested again soon.

I have been looking at this Company from the sidelines for a long while. I think the future is looking good and whilst other oilies have seen their share price recover, LEK has lagged for some unknown reason. It does seem a little unloved at present. However, I have just dipped my toe in the water and bought a few today with a view to holding for the long term, 3 to 5 years. Hoping for a 3 fold increase during that time frame, not unreasonable given the asset base.

a great deal in my view. Argos becomes a cash shell Company. We don't have to drill or spend anything else in the Falklands. We sit back and wait for Noble to find oil and commercialize the asset which will take about 6 years. There will then be an income for shareholders. In the meantime the value of the asset goes up or down depending on how much oil is found and ultimately how much is sold and for how many dollars. Not very exciting but probably a good long term hold, In the meantime the directors get paid all the income and some extra shares as well no doubt.

Nearly all previous share dealings by directors have been in September / October with a few in March / April for the last 10 years. Perhaps that is the time of year when our Directors are awarded their bonuses?

http://www.voanews.com/content/reu-egyptian-prosperty-not-protests-could-define-sissi-rule/2618444.html

SP dives again on unrest in Egypt. This well adversely affect COP for a while as there is major unrest in Libya as well, geographically , the unrest areas are hundreds of miles away. The sentiment is against investing here at present. We have 14.2 million barrels of oil reserves and a history of struggling to get payment from Egypt. Lots of long term potential but nerves of steel needed to have more than play money in here.

I agree with you, over production will continue for a while as it will take a long while to get the surplus out of the system after non economic producers have shut down wells or future projects get mothballed. Fleets of old tankers are being loaded with oil put there just as storage by traders to stockpile cheap oil. US shale fields can be quickly shut and just as quickly reopened. Most of this price drop is just muscle flexing by the Saudis who will soon realise that this has gone too far and is the economics of the madhouse. Would you rather sell 28 million barrels at $110 dollars or 30 million barrels at $47. Duh !!!

Mulder, do you still think so bearing in mind the 13% Seplat now hold. We will know by 19th Jan

27 to 11.5 in 3 months despite good news on drilling and more potential to come. Unfair and unjust drop IMHO

How can you justify a 50p target based on an Oman strike which if successful, is only targeting 14 million barrels of recoverable oil? In the same sentence you talk about a 50 to 100% rise on news. I perhaps need to remind you we are at 11.5p. I agree that we are undervalued but then so are a great deal of other oil shares. I would like to see the calculations you must have done to come to these figures.

Is anyone else getting internet security warnings regarding visits to Seplats website

Kazakhstan economy was the fastest growing Asian economy at 8% for a decade, buoyed by high oil prices for hydrocarbon exports. It has been badly affected by the drop in crude oil which will plunge the economy into recession and in turn affect sales of cement perhaps. Also the Putin effect , there is a price to pay for being in close proximity to an ailing superpower with unpredictable leadership. Good long term prospects here and I see a 50% upside easily achievable from here

Good spot, share price should tick up nicely on Monday.

Other oil companies are having a much better day than us. Anyone know the reason for the drop here?

SP may well go down , as may the price of oil. I feel however that this profitable company has very little debt, has a large credit facility in place if required, and will be well positioned to come back with a very strong bounce when oil recovers. Oil prices will recover long term as no producer really wants to see prices at these levels. Who is going to be the one to cut production? That is the question. Why always OPEC? Because they bloody well started this cartel with Sheik Yamani in the 70s when the arabs had the upper hand. Now the Yanks are producing enough so they dont need to import any, the tables have turned. The Russians, Iranians, Iraqi, Nigerians all want and need to pump every drop to prop up their sick economies. An agreement will have to be reached with an OPEC Mk2 in due course with new members drafted in. This will in my view include all middle eastern states and Russia. The yanks will never do anything to hurt the free market as they will lose face but could curb production rather than control price. Whatever happens, if production exceeds consumption for much longer then refineries will have to stop production as their stock piles will be full. A decision on production cannot be far away regardless of price.

reddevils, I have to agree with your analysis. I am sad to say this company is on a downward spiral and noone knows where the bottom is. There seems to be no end to the bad news. I have watched this share for years and still feel involved even though I no longer own any. I was hoping to get back in soon but think there is a great deal further to fall before recovery. I think it safer to be out of this until there are several positive indicators. At present all I can see concerns me greatly. Chinese growth doubts, dodgy loans, over regulation and hefty fines. But on the other hand they dont half start to look cheap. I can wait though before buying, looking for £8.00 entry

http://www.proactiveinvestors.co.uk/companies/news/72565/alkane-energy-to-be-on-stand-by-for-national-grid-over-winter-72565.html