Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
If you are looking for further information on Otakikpo and the overall project check out GEIL ....some extra snippets are there...gas etc....apologies if you've seen this ... Steady away...have a great day H1 http://www.greenenergyint.org/geil/operations/
Many thanks Tanelorn.... I will watch how this plays out in market sentiment and price....been in here for toooooo long .....took the consolidation and had these in the garden shed potting manure... Commissioning a new plant is however not all easy peasy...some caution should be acknowledged (for me anyway)..Winter weather also with new plant has to be an experience of what is threatened with extremes....I'm pleased that this board at present is void of silly posts. I'm off to Cyprus until 4th Oct...sorting out a business my wife has out there...so may not respond quickly. All the best H1
Maybe just fat fingers ... I have searched as you did and nothing has come up.... maybe when Superg can advise us (link as Tanelorn has politely asked) of what he might be hinting at...can we draw any conclusions.....steady away. H1
Yup - your probably right bonker99 - sticky note to self to refrain from guessing trades. H1
Both 150k - mid price and full ask....mmm I'm presuming first is a buy as second was at full ask (buy) H1
Hi...if your looking at information/articles to put in a folder have a read of this...all about The Promise of Deepwater Dahomey Basin (guess who..yup us)...re-printed in June 2016 http://africaoilgasreport.com/2016/06/deepwater/the-promise-of-deepwater-dahomey-basin/#more-8218 Have a great day H1
Hi Daysleeper.... regarding your question...Nothing concrete - BUT if you look back in my posts the company reply by email said the following... We are making good progress on the ministerial consent front. Make of it what you like...:) H1
Thanks to contributing - peteb308,bonker99,Jam4u,daysleeper...etc Sharing knowledge/thoughts in a constructive manner is very helpful...even at my old age it's still learning - learning...with of course the odd whisky...anyway thanks everyone H1
I have to go as grandchildren are tearing the place apart wanting ice cream… Not sure if any of this helps or confuses …there are more than likely others out there that have a better or different view…all welcome. H1
Hi daysleeper – well my crystal ball has been fairly misty over the last two years, I am in the offshore oil industry and sometimes to my demise have been caught out with NO internet connection and have come home to see my portfolio somewhere between the garden shed and the cellar. I’m well aware of this risk so try and pick stocks on a 5-10 year basis I spend on average a good week of due diligence (as best I can)…some stocks are on the main market and some on AIM. Lekoil has some very interesting prospects as you are well aware, about to go into production and maintain 10k by year end with 20k target after drills in 2017 for year end. Shares held by PI’s is relatively small by AIM standards – although depending on POO and being paid for our oil on time and with normal industry standard outages for commissioning/repair/maintenance – there should be little dilution…it will pay it’s way with our production. The caveat here is in July’s RNS AGM with the ability of the board to issue more shares…off hand somewhere in the region of 161m…best look it up. Any reasonable uplift to 60-70$/b will be very beneficial with our low lifting costs of <25$. How the aforementioned actually happens is anyone’s guess but we at least have a fair cushion. Recovery of 88% costs is good as long as it goes into our bank promptly…here I’m not sure if it can be done per well bought on line to production or over a time span. The original CPR was with oil at 120/100/80$... we might not hit the higher for 5 years but 80$ within 2 years is a target…but as you well know it just need some guy with a finger on a button somewhere and up or down we go. Lastly on a realistic point when the well E1 was being flow tested, they had to stop due to cementing issues…then continue C5/C6….let’s keep a realistic view that there is some work still outstanding. So here is the near term (for me) others could say theirs is different – fair play to them– October 2016 – Jan 2018 – Sp 20p (today)…Dec 16- 35-42p…..As wells are drilled and depending on news from that over 2017 it could range as we know…so pick your number. When it comes to the offshore OGO OPL310 – farm out/partner etc and how this deal is sealed % wise and what costs are up front or recoverable, we just have to see what the BOD can do. Seismic according to their new presentation will be completed soon…so additional news flow. I have tried to do some more detailed DD on our partners but their website is certainly much (to me) to be concerned about…it is a private company, however I just might send them an email this coming week and see what activities of information I can gleam …but knowing Nigerians I will be faced with looking for that whisky bottle…. http://optimumpetroleum.com/index.php I have to go as grandchildren are tearing the place a
Hi....slight amendment to your comment below regarding OPL310. Lekoil had by farm in back in 2013 a 17.14% participating interest and a 30% economic interest in OPL 310 (Afren still going )...ONLY on the demise of Afren did Lekoil purchase Afren's 22.86% for 13m...giving them the current participating interest of 40% (pending Nigerian Ministerial Consent ("Ministerial Consent")) and an economic interest of 70% in OPL 310 (and from my email they seem to think it is on target for agreement) http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LEK/12603685.html Have a great day H1
Checking the company website...there is a new September Investors Presentation Pareto oil Conference dated 14-15th September.... well worth a read....some of the photographs are newer...:) Breakeven is given on page as POO=<25$/bbl (Otakikpo) Timescales etc It lists institutional on page 14 ....etc etc http://www.lekoil.com/index.php/article-166/pareto-oil-offshore-conference-presentation.html Well worth a read...maybe the above conference has put us a little more into the open. H1
I can see the discrepancy that your indicate 'daysleeper'...and I'm willing to wait this out for the time being. The Niger Delta has it's 'stigma' let alone Nigeria as a country....We are near the mouth of the Delta and our % risk with the 'Delta avengers' causing problems...is far less and whilst I wont say impossible - I would say highly unlikely....BUT we get attacked by association (maybe due to AIM) and MM's wishing to play the spread. Over the last 3 months we have had "BAMCO" - 6.14%...add more shares along with a director @18.5p (above where we are at present)...the director buy could have 'had' to be done ahead of updates so not to fall foul of AIM rules (maybe). http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=33712058 These large trades are noise...(some are getting cancelled etc) but things are starting to warm up in my opinion, and if that RNS comes end of this month early next to say production has started and all plant is working correctly I can see an immediate uplift into the mid 20's (at least)....and maybe beyond... I did email the company and posted the response, and so far it seems that they are on course....hopefully new photo's will be added (they said once production is underway they would)....and hopefully an update on the Afre % that is still under review (again they mentioned all was/is) going alone as expected. It might take a little time and TRACK record that 3months can give up to NY to say 10,000 has been hit and that they can maintain these levels...alongside drilling of wells into 2017. just my ramblings I put this company as a good risk/reward...only time will tell
Markp1975 - "Also, is this the first time 20k bopd has been mentioned as a target for 2017?" Answer = NO ....suggest one reads below RNS H1 RNS Number : 6213B Lekoil Limited 20 June 2016
Not sure of 90p in March....but won't say no! The above will depend on received Jan sales...and type of stones....don't forget we have stock piles crushing first...whilst I expect some reasonable grade of stones the potential will be in new material from main pipe later on in Q2 and beyond. Also the market will wish to see a track record of sales, grades and efficiency of plant, and lastly scheduled repayments of loans on time. Fingers...toes...legs...arms...and eyes crossed !! H1
Thx...Tanelorn...Having looked at the new presentation. Regarding ZAR/USD - the exchange rate has helped us during this 'build' period, which for once is a blessing...and by the information on slide 7 we are due to start 3 months ahead (end of this month Sept). Staying on subject of ZAR/USD - if you get a ZAR/USD chart up and look over the period from 2011 to current you will notice we are almost at the low, and the Rand has depreciated near enough 50% in that time period. Whist we have benefited during the build period I have my suspicions of how much lower the Rand can go...I'm certainly not an experienced chartist but there looks to be room for the Rand to recover and this will hit us on wages and running costs etc...time will tell....any thoughts? Slide 6 seems that some bullet points are put in wrong date...or am I suffering from malt whisky?....specifically the comment 85% complete at end of June etc ..and the 'balloon' attaches itself to timeline Sept/Oct..... So far the project has been running well and ahead...lets hope the skills/experience of setting up/fine tuning the crushers etc come through in end product to market sales in Jan17...only time will tell...at least they have 'tailings' to put through first before moving onto main pipe etc. Regarding BK11 I checked the tango mining site this morning to see if an out of hours RNS came on the TSXV Exchange...alas no. Only 9k of shares traded..maybe RNS of some sort whether extension again or completion/withdrawal - take your pick http://web.tmxmoney.com/news.php?qm_symbol=TGV Overall I'm happy to see this through....have a great w/e H1
Agreed but last RNS came exactly 1 day later than quoted expiry date....probably due to time difference in Canada....could possibly have to wait to Monday as it's the w/e coming up...(unless late afternoon one pops up) H1
The first RNS could be as soon as tomorrow (Tango Mining) & it will be regarding BK11...as per last RNS...unless another extension. "all conditions of the CSA must now be satisfied by no later than 9 September 2016 (the "Revised Drop Dead Date"). Then followed with the plant update. H1
Will just have to wait until Monday 29th August .... conditions of the Firestone Agreement and the Amendment Letter must now be satisfied by no later than 29 August 2016 (the “Revised Drop Dead Date”). Only time will tell...and the clock is ticking.. H1 http://tangomining.com/tango-announces-extension-for-acquisition-of-bk11-mine-2
This morning I had a reply from the company having rang their Nigerian offices in Lagos asking to which branch does the email get sent to, the girl was polite and said that the London office deal with such matters. Below is the reply, whilst very brief in nature and not that specific to my questions; it is none the less a reply...make of it what you will..... All the best H1 -------- Forwarded Message -------- Subject: RE: Share Holder Inquiry. Date: Mon, 22 Aug 2016 01:52:41 +0000 From: Investor Relations (LEKOIL Limited) <investorrelations@lekoil.com> To: Ranald <xxx@gmail.com> Hi R, A more recent release indicated commercial production and cargoes are expected in Q3. We are still on track for that timeline. We are making good progress on the ministerial consent front. Otakikpo photos may be available on the website after commercial production commences. Best Regards, Lekoil