Member Info for pawnsacrifice

Why on earth should it go belly up??
Think you need to borrow jenny's finger Humbo and tell her to use superglue not lube! Its for the greater good.
If we're lucky these will lose 310 have nothing more to pay there -ie no $184m debt for only 17% of one licence - and get to concentrate on the otakikpo licence the LTH's were most interested in before the unexpected and now exposed as bogus finance offer.

Well must admit if it starts up I'm topslicing and at 2p for 2400bpd I'll be loading up the truck and will be more than happy to wait for Otakikpo to be developed.

"Should be noted although 310 was a decent play it was putting them in a lot of debt so kinda swings and roundabouts there."

completely disagree Taff. Think there'll be an opportunity tomorrow to get in on the producing licence they have left and expect news on that to progress and a fillip from them being able to sell 310 down the line.
Should be noted although 310 was a decent play and as it was putting them in a lot of debt so kinda swings and roundabouts there.

Worst case scenario (apart from the severe lack of cred) seems to be they may have to sell an asset they were going into a lot of debt to realise imo.
They still have Otakikpo and their partners/financiers there and still produce so am wondering what the co's value should be?
Happy to hold any i buy low for a while if need be as it works with these .

wrong link lol definitely the wrong link.
We want this one..
hTTps://www.investegate.co.uk/lekoil-limited/rns/otakikpo-update/201910210700064599Q/

Been asking the same. They still have the 22% they could play hardball with too if they had to sell. Would be no reason not to and then there Otakikpo still in play and producing so still a lot of value here just wondering how much ? (in case the sp gets silly in the morning)
hTTps://www.investegate.co.uk/lekoil-limited/rns/opl-310-appraisal-funding-secured/202001020700124689Y/

Note they say if they can't make the upcoming payments then they may have to sell the licence. Wonder what they'll get?

agree its a mess though.

So basically this was a lie as you aren't in so there can't be any "our concerns"?
"LEK have needed funds for months and the surprise RNS that magically resolved all our concerns at what has now shown to be pack of un-truths,"

re the ceo .He didn't get a cash payment he got debt forgiveness which i presume will be reversed?

Not sure about casualty as its only $600k. Would have thought they could swallow that
More the fact there may be no finance package and their cred will be shot with investors so back to 4p levels not 40p!

Reads like they've been conned? See what happens I guess. Good luck all.

Wouldn't really agree they're all about 310 Otakikpo's quite an asset too. Seems to be more about some patience imo.

"After evaluating the existing infrastructure at Otakikpo, Schlumberger, in its role as non-financial, technical partner has assessed the capacity of the infrastructure to be capable of producing 10,000 bopd (4,000 bopd net to LEKOIL Nigeria) and, with some debottlenecking, up to 12,000 bopd gross (4,800 bopd net to LEKOIL Nigeria). Subject to closing of, inter alia, the project financing, the Joint Venture expects the first two wells of the phased development plan to bring production up to this level. The Joint Venture anticipates adding this incremental production by year end 2020."

I know they said on the 2nd they'd update in short order but still a really pleasant surprise to see the RNS.
Should have known really. There nowt thats much more fun than spending other peoples money.
ATB for a great day. 20p?

Yes they are mohh1.
Fraid you're talking to someone who's been invested more than a week that has no time for liars like yourself who think they can influence shareprices by conning fellow pi's.
Filtered.

Nice turnaround today. Went for a little nap like you do you know, got up and we're off to the races again.
Good luck getting your in price mohh1, sure you'll understand if I hope you don't get it.
ATB all,
pawn

OilNo., no they haven't and no they won't.

That would be good. "Zenith would create shareholder value" yeah right just like they have for zen holders. lol

Maybe AAOG should give them a ring.
(sorry that was naughty)