Member Info for Jenslehman

LOL that they're mate. I think it's time to go back to my cave, so pleasant in there compared with here. I mean LEK are like 200p, GKP are over a tenner and my gas bill is only a fiver :)

Why buy more at 55p? Idiots :)

Are we off?

base- which is nice. Next move up, could be one of a few factors. I wonder if they have anything up their sleeve, with regards to further partnerships or revenue opportunities. Feeling very good about this one, could over take GKp in 12 months!

If I had my way, I would never use one again. Unfortuantley, it's my job. lol.

hello mate, sorry I stay awy from computers at the weekend, bloody things :) Yes, I think 70p would be fair. £1 for xmas if we get some continued good news? :)

1.7m

Just saw my google go crazy. Prob an error.

Interesting views and always seems to be very well informed or at least on the ball! Lekoil is repaying the $28m in full to its partner Afren. The loan did not need to be repaid until April of 2015 and there is no evidence that Afren can call it in early. Afren although farming it out to Lekoil basically provided Lekoil with the bulk of the money for Lekoil to repay them later. From the 24 hour $100m Lekoil book building placing - "In connection with the development of the Ogo discovery to date, Lekoil has drawn down on the Afren Facility and now has an outstanding balance of approximately US$28 million due under this. Lekoil intends to apply approximately US$28 million of the proceeds of the Placing to *** repay completely the Afren Facility***. Why pay Afren in fuill now when the term is for another 18 months ? We partner Afren on 2 assets already including AJE - could we do so on a 3rd shortly ? Here is a an important point - Afren farmed out 17.14% of OPL-310 to Lekoil on 14th May 2013 after the OGO well was spudded in late April 2013 for $50m carry. Afren just 3 days ago did a major East African presentation - they are about to drill on 5 billion barrel potential. No doubt imo that they will farm out some of this just as they did with OPL-310 to Lekoil. They actually say they will derisk on the final page of the presentation (farmout). Lekoil are going to use part of $20m to progress further opportunities currently being reveiwed. Lekoil are chasing East Africa assets (as well as West Africa) source Beaufort coverage. Are Lekoil again poised to participate in a major asset with Afren to some extent ? (ie demonstrating faith/committment by repaying Afren in full before a new deal with Afren may be completed?) 29/10/2013 Afren plc, today will present at the 2(nd) East Africa Oil and Gas Summit in Nairobi, Kenya. The presentation materials are available on Afren's website at www.afren.com 5 operated licences with over 6 billion boe in prospective resources. Tanzania, Kenya, Ethiopia Madagascar and the Seychelles. There was an aggressive seismic acquisition campaign completed across the portfolio during 2010-12 (page 11). There is one discovery in Kenya (page 13). Page 19 - Near term drilling. Targetting the largest undrilled structure along African margin -'Mombassa High' Evidence of oil on nearby L19 drilling. Excellent reservoir quality in closest Jurrassic well. Page 20 - Drilling preperations underway - 'Mombassa High'. Page 22 - Ready to drill Chungwa (Orpheus) Prospect. Page 24 - Drilling preparations underway Prospect 4A. Page 29 - East Africa - the driver of future growth for Afren. Near term drilling programme is targetting up to 5 billion barrels of prospective resources. I'm sure there were questions asked by those who stomped up $100m in less than 24 hours as regards current strategy, new deals in the offing etc, reasons for paying Afren long before term. If this is paid,

Yep thought I would top up :) Unfortuantley mine was 1% of that. haha. One day maybe.

Absolutley mate, fully funded, no mates rates! We must have something that has really made them sit up.

and roger me side ways..lol. What a lovely result, sit back and watch this one build. Happy.

Yes mate it certainly seems very encouraging. A very well written RNS with very specific details, they're certainly not rushing things out. That is probably the Afren influence. which means hopefully there's alot more coming :)

I suppose now we will see if they are going to be PI friendly, or if they join the darkside lol.

Nice to see it all laid out in front of us. However, what price is it going to be at??

you can only laugh.

but not unexpected. Time to walk the wolf and enjoy what's left of Autumn! This time next year Rodders..ha ha. GL.

Yes mate I think that will be about right. I luckily loaded up as much as I could at 38p. I knew I should have moved another wedge in from my dormant GKP. Hey ho, can't win them all. Looking forward to checking in now, rather than just avoiding the dripping of the other one!

taking **** as usual. 55.75

Considering this sidetrack prospect (Agege) was very high risk, this is an excellent result. The synrift section has 280 feet of gross hydrocarbon interval. This has huge implications for the adjacent deeper section of the Aje discovery which was never drilled. "All of the reservoirs came in high to prognosis potentially indicating a larger structure than estimated". Referring back to the CPR which states that the undrilled 'OGO' prospect and EKO prospect could in the high case be one large connected structure. Ado and Shasha are major structures and less risk that this discovery in Agege which now makes the potential even greater. These 2 structures + the low risk Ogo structure offer further major upside not to mention the deeper undrilled sections at the Aje discovery.