Member Info for LGO-fan

so this will continue to go south until spring?!? Gues, I am going to wait a bit longer then....was interested at 3p....then tempted at 2.5p....going to patiently wait a bit longer me thinks

in which case the next AGM is in the SWP, purple buckets at the entry to go and scoop all the oil up! :-)

my view in simple terms: 1. CERP to drill with our without partner in SWP to demonstrate proof on concept 2. Get reserve report 3. Sell to big oil if 1 is a success

If would agree if this was a share owned mostly/to very large extend by II's. However, this seems a retail share. I just think that many impatient pi's are de-risking this share as all the hype does seem to take a long(er) time to materialize (it always takes longer than hoped for and the impatient always walk away). I think it is just that simple.

haha! Brilliant:-)

to see we haven’t had a placing yet. Can’t be too long now, IMHO

I keep saying this: ii’s are filling their boots. soon the flippers will be locked out. Patience favours the LTHs

makes total sense! We care about value per barrel and now that we have a diversified portfolio, we have more options available to us to achieved that. Having said that, 700bopd would be a solid achievement!

not so sure about that, to be honest. - these are funds to accelerate production and cash flow. If it works, it should set us up for faster growth in 2019 - LK clearly hinted in the webcast to today’s announcement. Look carefully at it again (he speaks about big institutional investors we can approach with investment propositions / words to that effect) - LK has made it clear he wants more LT II’s. He got Schroder and it was always understood he wanted more shares in the hands of IIs. This is still too much a retail-based share that gets flipped by some goons. This is a LT investment: focus on the fundamentals, sp will follow and the flippers eventually will be pushed out and lose out.

I feared it would be low, but this low??? Tells you how desperate things are. I am tempted though. This is a business that can flourish, and LJ has proven this (despite this debacle). He is lending his own fortune, interest free, testimony to his commitment to the business and shareholders alike. If anyone can pull it off, it’s him. Will be massive pain for the foreseeable future for current holders. still more hope than 24hours ago.

seen a presentation uploaded anywhere? Feels unprofessional it hasn’t been done yet. Lk needs to get a grip with AIM

looks like massive placing needed but who will want to buy into that? Trust broken. Glad I sold

agreed

Agree! Also, Lk will explain the production mix in our portfolio of assets, and why he wants to focus more on one asset than the other. He will invest where bang for buck is greatest. I don’t care where in the incremental production comes from, Goudron or the new assets...I care about where we make the most money per bopd. I am sure LK will explain this. Wouldn’t be surprised if he held back on certain investments in Goudron for example during Q3, when he knows he can make twice the return per bopd from another asset from Q4 onwards

simple maths dictates that if there is a link between bopd and mcap, our mcap should rise logically speaking by 50% (assuming we ar producing roughly 500bopd+250 from SD)

300 bopd, in its own right, without the carrot of bigger numbers further down the line, could easily lead to a mcap of £30mn. that’s x7 from where we are now. Focus on that and you will see why the days of the current BOD are numbered, including that of the chairman.

going to post it twice, cause it is so nice... “I also believe that you should waive any salary whatsoever (including accruals) until such point as the company has produced at a bare minimum of 3 months of 300 bopd production” There will be ZERO tolerance for placings to fund SG&A, In case that wasn’t crystal clear.

and also... “I also believe that you should waive any salary whatsoever (including accruals) until such point as the company has produced at a bare minimum of 3 months of 300 bopd production. Chairman’s roles carry responsibility and you are fully aware that behind the scenes in recent months we have attempted to ensure the company is being run properly and value created for shareholders. The time for silence is now over. Produce from the assets that you have raised millions for in the last 15 months or step aside and allow new directors that ARE capable of doing what we believed, mistakenly, that the current management team were suppose to have been doing this last 12 months.”

“We have 2 replacement directors in the wings ready to replace you and Mr Gonzalez (whose position is now totally untenable in our opinion given the abject non delivery of production over the past 15 months) that we believe can get these assets producing should you not be capable of doing so. I also believe that you should waive any salary whatsoever (including accruals) until such point as the company has produced at a bare minimum of 3 months of 300 bopd production.”

We note the RNS from @mayan_energy #MYN ref @TexasEddieG departure from the company. New info has come to light ref @charlieawood and we believe it is in shareholders best interests that he follows Eddie out of the door ASAP. More on this to come.