Member Info for LGO-fan

Apart from a £10K and £7k buy, are the amounts of the buys are low value suggesting a retail reaction only.
LK would do well to try to market to deeper pockets (without raising equity), so that we get more longer term big holders.
Otherwise this just will be another day trading opportunity.

and in 2021

this is true, which means we will not make an awful lot of cash on this in the first year.

A bit happier for sure, and the SP reflects that.

S1 was never going to be a producer in my mind, but if the turn it into a producer for MC that would be great. S2 is indeed the good news.

However, its unclear when any of this will result into financial gain for the company.

1. MC could be this year, after all the 3 remaining opportunities have been tested
2. S2 as a producer: I can not see that translating into bopd this year. Def 2021 IMHO, and then at 25% net revenues to us.

So from an operational, and asset standpoint, it feels like we have turned the corner but from a financial standpoint I think this will some time before the CERP coffers are filling up. That’s key to avoid equity raises.

All of this good works needs to be translated in sustainable share growth. Otherwise this is all “much to do about nothing”, which no holder wants

Not even remotely

and they still haven’t told us what the financial health of the base business (excl Saffron) is: no info re bopd, how much loss are they making, what is our cashflow position ? Again, they keep us in the dark when it comes to the essentials

Haven’t gone through it but a lot to be happy about.

You may have notice I expected a positive result, and a note saying we will not further invest in Capex until POO is back higher. That is exactly what the RNS says. Q3 is subject to POO at $35 WTI. Cost for S3 at $3mn looks high (S1 was $2mn) and funding will be needed. Also all contractors will be paid on shares so not too confident for the remainder of the year from a SP POV.

We also don’t know what bopd to expect (a small footnote said 500bopd but for how long - very misleading).

The costs for this well are out control: 2mn vs 800k. So we are clear on the costs, but there is little information on expected revenues: 6 targets is great, but still after all this time only 3 tested (though first 3 are above my expectations), no clarity on bopd to be expected, and financial impact (they will outsource but no info on who gets what %).

So, all looks great progress but to me the main questions are unanswered: how long before we see what amount of $$$ in the CERP bank account ? Will it take another 3, 6, 9, 12 months to see the transformation?

It’s all a bit vague.

He is probably getting up at 5am, hoping to be be the first one to read the RNS, lol!

why are you so clueless?!! You seem to live in your own unicellular universe. Chill, learn, study, DYOR (until then, go and join the kindergarten with Cheesy)

unicellular organisms, have rare anything interesting to announce. So leave WC where they belong: emory vessels collecting crap

WTI was $60+ in Jan, this article is no longer valid

https://oilnow.gy/featured/us-fracking-set-for-biggest-monthly-decline-in-history/

hahaha

Depends what you measure for success is?

Is it a rise in sp?
Is it some form of acceptable drilling success ?
Is it a financial turnaround for the company?

I have often seen oilers announce a positive drilling result, followed by an almighty crash in the sp. Why?

1. Rampers caused unreasonable expectations in their never ending stupidity, so the good result is seen as a flop.
2. The well was a pilot and peeps overlooked that fact (usually rampers)
3. The POO crashed (a technical detail often overlooked by rampers)
4. The drilling results are a “success”, but sadly not enough to invest in
5. The results are positive, but all capex is suspended until POO gets back to a certain level. We end up in the “waiting room”, and sp declines. My guess it’s going to be 5.
There is of course option 6, largely preferred by rampers: its a gusher and we all become millionaires.

All IMHO

Saudi Supertankers Stranded As Oil Price War Backfires
By Tsvetana Paraskova - Apr 22, 2020, 12:00 PM CDT
Join Our Community
VLCC
Saudi Arabia has made good on its early-March promise to flood the world with oil, but with demand collapsing and storage filling fast, the world’s top oil exporter must now keep its unsold crude on supertankers at sea as no one is rushing to take delivery of oil they can’t process or store.

Around the world, at least one in every ten very large crude carriers (VLCCs)--each capable of holding 2 million barrels of oil--currently acts as a floating storage, oil officials from Saudi Arabia told The Wall Street Journal this week. Many of the supertankers carry Saudi crude, and some of it is not sold yet.

As buying interest in the oil industry is currently only focused on available storage capacity, not on crude oil, the early Saudi plan to go after its rivals’ market shares with aggressive price discounts and a fleet of more oil is backfiring while a large part of the world is under lockdown, refiners slash run rates, and storage fills up.

At the same time, the highest number of Saudi oil shipments in years are making their way to the United States this month, threatening to make an already dire situation in the U.S. oil industry even worse.

The tankers were loaded before OPEC+ struck a new agreement to take 9.7 million bpd off the market in May and June when Saudi Arabia had embarked on an aggressive price war for market share after the previous OPEC+ deal collapsed in early March.

However, three weeks later, the world demands anything but more oil—demand is crashing by 30 million barrels per day (bpd), and even the new production reduction agreement can’t do anything to erase the glut in April and the coming weeks.

“The fact is buyers don’t have storage so regardless of whatever level of output you want, there won’t be storage for it,” a senior Saudi Aramco executive told the Journal, adding that the Kingdom may have to shut part of its own production because there simply isn’t demand for crude oil.

By Tsvetana Paraskova for Oilprice.com

you can not issue shares when suspended

I am a holder and have been here a long time, but I can honestly say you are one the daftest posters I have seen here since Once was ruling this BB.

I don’t like tampers any more than derampers: they cause the same amount of nastiness albeit in different ways, and for different reasons.

The drama is that the IQ of the rampers is so low that the derampers are having a laugh. It’s too easy for them with the likes of you and Chesh “holding the fort”. Just all IMHO, and of course DYOR

I suppose we will get an RNS later today, when US wakes up?

boy...you rampers really give the derampers a field day....

$10 now