Anyone else in ?
On board this morning for the first time...(small time)
I've probably paid a bit more than I should've done and one should never buy first thing in the morning when it's probably marked up high to begin with!

But, let's see how it goes..the story is compelling and the rewards could be high, even though it's been tipped by TW ! (Article below..TW tip usually the K o'D!)

Good luck all!
(IMHO,DYOR)


Buy Leni Gas & Oil at 2.125p

Argues Tom Winnifrith of t1ps.com

Tom Winnifrith publishes 20 t1ps a year on www.t1ps.com. To access the website for as little as 73 a year click HERE

Having reached the giddy heights of $147 per barrel in July 2008, with analysts then forecasting $200, oil has since plunged to sub-$40 and some reckon we will see $25. Perhaps that will be the case in the short-term, who knows? One thing that is certain is that at sub-$40, most oil fields that have been developed in recent years will not be economically viable. The outcome, which is already being observed, will be a continued scale back in production until such time that basic market economics prevail and the price is pushed up as demand begins to outweigh supply. I anticipate a return to $60 oil sooner rather than later, which would inevitably see oil stock valuations emerge from the ruins as investors flock back to get a piece of profitable, cash generating producers. AIM-listed Leni Gas & Oil (LGO) will be one of these, but even at current oil prices, its growing cash flow streams derived from a well-diversified portfolio of producing assets represent an enticing investment of amplifying appeal, which will leave its current market cap looking extremely daft. With oil stocks hated by investors driven by sentiment not fact now is the time to gorge greedily on stocks such as Leni.

The Business
The company's primary strategic approach is to identify projects and businesses within the oil and gas sector that may contain a development premium which can be unlocked through a combination of financial, commercial, and technical expertise. This is where Leni's highly-skilled and experienced management team comes into play, assisted by a network of independent experts to evaluate investments to ensure development success.

Operations
Across its portfolio, Leni is currently producing the net equivalent of around 715 boepd from target recoverable reserves of 36.6 million boe at an average estimated operating cost of $10 per barrel.

US Gulf of Mexico - Leni has a 29% interest in Byron Energy, having acquired rights on Eugene Island blocks 172, 183, and 184. The company's interest in Eugene Island equates to an effective working interest of approximately 8%. New production wells were completed in the second half of 2008, with gross volumes of more than 5000 boepd. Additional rights include six oil and gas assets in varying stages of appraisal and development drilling. Planned for 2009 are development drilling, new production completions and assessment of exploitation potential, prior to development in 2010.

Spain - Leni's 100% owned Ayoluengo Oilfield (yes it was once owned by Northern!) is the largest in Spain with STOIIP of 110 mmbbls. Production is up to 260 boepd and continues to increase through improved well productivity programmes. A major development programme has been initiated to increase total field recovery to 30% through secondary recovery and in-fill drilling targets. The company is targeting production to previous plateau levels of 2,500 bopd and it should be heading that way by the end of this year with steady month on month increases. Leni also has an 85% stake in Halo Acreage Exploration & Development, which has total resources of 12.8 mmboe with a focus on high potential developments.

Trinidad - A well stimulation and production enhancement programme is underway at the company's 50% owned Icacos Oilfield, to lift current production from 30 bopd to around 150 bpd. Full re-interpretation and surveys are underway to identify step change production potential. Also, at Leni's 50% owned Icacos Deep Prospect, significant oil & gas discoveries have been made in the halo vicinity. High API oil has been identified, indicating a deep oil system. Seismic and area re-interpretation are planned.

Hungary - The PenZszlek Gas Field, in which the company has a 7.27% interest, has remaining GIIP potential of 22bcf with identified undeveloped discoveries. Production commenced in August 2008 at 4 mmscfd and a 3D seismic was executed at the end of 2008 to validate undeveloped prospects and accelerate incremental production. Elsewhere, at the Zala Basin Gas Play, in which Leni also has a 7.27% interest, multiple tight gas reservoirs exist on the border with Slovenia, with well stimulation and re-completion set to increase recovery.

Malta - The company has a 10% interest in a high potential exploration play with a highly prospective oil & gas basin. Four prospects and five leads have been identified with gross mean 2P STOIIP of 5.7 billion barrels and recoverable reserves of 1.484 billion barrels. A PSC has been signed with the Maltese Government to drill a 2500m well by July 2011. A second study phase is currently being undertaken to increase the chance of success with selected drilling locations.

Click for Full Charting facilities from ShareCrazy.com


Production
During January 2009, monthly production increased by 150% to 20,020 boe. Dividing it up into the company's operating regions: In Spain, production net to Leni, was 7,125 barrels, which was up by almost 10% on the previous month and more than 120% higher than historical plateau production. Oil sales reached a record of 6,935 barrels, representing an increase of more than 100% on historical monthly sales. In Trinidad, the Icacos Oilfield produced 900 barrels during the month, with net production attributable to Leni totalling 450 boe. The rapid progress is signified by highlighting that the oilfield was only pumping around 35 bpd in early 2008. Meanwhile, in Hungary, the PenZszlek gas field produced 1.67 million cubic feet of gas net to Leni during the month, with net production of 279 boe. This was down on the previous month, as the gas field was shut-in due to the failure of a compressor at the downstream gas processing facility. In the GoM, the company's interests held by Byron Energy currently produce approximately 5,000 boepd gross from the Eugene Island Field, with Leni's effective net working interest equating to a net monthly production totalling 12,000 boe.

The numbers demonstrate the success of the company's production schedule step change, reflecting the full benefits of its GoM interest and its Spanish enhancement programme. Having delivering significant month-on-month production increases and achieving record oil sales, Leni is in a commanding position with regards to its full-year targets, and of course, generating expanding and sustainable streams of operating cash flow.

Management
Executive Chairman, David Lenigas, has 25 years' experience in the natural resources industry, covering oil and gas, coal, precious and base metals. He is currently the Executive Chairman of Lonrho, Lonrho Mining, Lonzim, and Templar Minerals, as well as a Director of Vatukoula and GCM Resources. Lenigas is also the Chairman of the Audit and Remuneration committees.

Operations Director, Fraser Pritchard, has 20 years' oil & gas experience from most oil & gas provinces and international and state energy companies. He maintains a focus on securing investment for, and managing junior E&Ps from start-up into sustainable operations.

Finance Director, Donald Strang, has 15 years' experience in financial management predominantly within the natural resources sector. He is currently a Non-Executive Director of Lonrho and Vatukoula, and was previously the Chief Financial Officer and Company Secretary for GCM Resources and BDI Mining Corp. He has also held senior financial positions with Ernst and Young and several publicly listed Australian Resource companies.

Executive Director, Jeremy Edelman, has 20 years' corporate finance experience coordinating acquisitions in the natural resources sector. He has previously held directorships in listed companies in both the UK and Australia, with a focus on resource exploration and development, including investment companies established with the specific objective of investing in oil and gas projects.

*The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Investments in smaller company shares, by their nature, can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares.

Financials
In the twelve months to 31st August 2008, the company recorded revenues of 1.91 million and posted a pre-tax loss of 40,000, mainly attributable to a non-cash item of 0.55 million relating to share options. It is worth mentioning that pre-tax operating profits from Spain alone amounted to 0.87 million. The basic and diluted loss per share equated to 0.01p, compared to a loss per share of 0.14p in the previous twelve month period. The balance sheet showed net cash of 1.85 million and net assets of 23.05 million, which consisted of intangibles valued at 20.23 million.

Financials
Leni is currently producing around 21,000 boe per month. With low operating costs of around $10 a barrel at present, the company enjoys a very healthy margin. The oil price weakness will not last indefinitely, and in the meantime Leni continues to drive down its operating costs, which are estimated to be trimmed to around $5 a barrel by the end of 2009. Meanwhile, production is rapidly being ramped up across the company's primary prospects, notably in Spain and the Gulf of Mexico. Assuming this acceleration continues according to plan, the company would - on a self financing basis - be looking to produce at 5,500 boepd by the end of the year, generating sizable and sustainable cash flows just the sort of thing investors are crying out for as the economy continues to reverberate from the profound effects of the financial meltdown and the extreme uncertainty it has bred.

At 5,500 boepd, Leni would be looking at c. 2 million boe per annum. Assuming a conservative average oil price of $45/bbl in 2009, and estimated average operating costs of $10/bbl, the company would be booking operational cash flow of $70 million (48 million) on an annualised basis. On a more bullish (and practical) outlook, taking crude at $60/bbl, annualised cash flow would be c. $100 million (70 million) and it is my strong belief that $60 is where crude should be.

Knocking off 4 million for central costs (far too high) and a 30% tax rate this is a company that should on my $60 scenario be throwing off 46 million a year on an annualised basis. Even at $35 oil this company should throw off 22 million.

At 2.125p Leni is valued at just under 13 million. My initial base case target price is three times cashflow at $35 oil plus net cash with the exploration assets in for free - that is to say 68 million or 11.1p per share. My long term target price uses $60 oil and the same formula and is therefore 140 million or 23p per share. I said that oil stocks are loathed and that is why Leni shares are so cheap. Now is the time to be buying. Leni Gas & Oil is a "buy" at 2.125p and at up to 6p with a base case target price of 11.1p.

Key Data
EPIC: LGO
Market: AIM
Spread: 2p - 2.25p (11.8%)

,

from Sat's daily mail:
"LENI GAS & OIL: WH Ireland says buy at 2 5/8p. Debt-free and cash generative. Deserves a premium rating"

Bit of selling going on this morning but this is one to watch for sure.!

SP moving up nicely this morning.. looks encouraging (imo)

Anyone else in ?

July production figures should be out soon, the company is looking for a return to near full capacity after the June set back.
2517

Buyers in and sp just notched up, so July figs could be good.
2517

Let's hope so... fingers cossed!

2517George, are you expecting the July figures this week ?, seems to be a bit more selling going on today than last week.

lelael, the last 3 monthly updates were 20/7, 09/6 and 15/5 so while it's not definitely this week it should not be very long. There appears to be no specific day for the releases either as the last 3 months have been a monday, tuesday and a friday.
2517

Thanks, new to this one, difficult to know which one to choose, but as you said if they have resolved a few issues here it should push on a bit with the update.

no update yet but moving up again this morning.

UPDATE rns out now, looking good.

Yep, now 130% up on my original buy... will continue to hold.. it's looking good (imho)

Wel done skyhigh, holding for now.

Yes they have several fingers in different pies, and who knows may be 1 or other could be significant, here's hoping.
2517

Just a reminder, here's a chance to meet and chat to DLG himself!

Last week's event had a record attendance, and this event could well exceed that and registration may have to be closed EARLY, so anyone wishing to attend should register ASAP!

These events are well worth attending, in a marvellous setting, and a chance to meet other private investors, as well as the CEO's.

Nearest tubes are Green Park, 5 minutes walk, or Bond Street, 7 minutes.

----------


Proactive Investors One2One Forums

The directors of Leni Gas & Oil (AIM: LGO), Exco Resources (ASX: EXS) and Exeter Resource Corporation (TSX-V: XRC) will be presenting:

Thursday the 17th September 2009

Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.


Register Here - http://www.proactiveinvestors.co.uk/register/event_details/56

If you have any problems registering or queries please email action@proactiveinvestors.com


Leni Gas & Oil (AIM:LGO)
Leni Gas and Oil plc has a strategy to identify and acquire projects and businesses within the oil and gas sector that contain a development premium which can be unlocked through a combination of financial, commercial, and technical expertise. Since listing it has established a portfolio of proven reserves and producing assets in low risk countries with significant development and enhancement potential and increased acquisition production levels by fivefold during the first year of operation. It operates a portfolio of production expansion assets in the US Gulf of Mexico, Spain, Trinidad, Hungary and Malta with significant play upside using similar operating approaches to leverage technologies and proven production enhancement techniques.

Exco Resources (ASX:EXS)
Exco Resources Ltd (EXS) is an Australian focused ASX listed mining company that has been operating for over ten years. Exco focuses on resource and project development through its team of experienced geologists, engineers and commercial specialists. The Company has a dual focus on developing both the White Dam Gold Project in South Australia, and the Cloncurry Copper Project (CCP) in north-west Queensland.

Exeter Resource Corporation (TSX-V:XRC)
Exeter Resource Corporation (Exeter) is an exploration-stage company. The Company is engaged in the business of acquisition, exploration and development of mineral properties located in Argentina and Chile. The Company’s principal properties are the Cerro Moro property in Santa Cruz Province, Argentina; the Caspiche property in northern Chile, and the Don Sixto property in Mendoza Province, Argentina. The Company has four wholly owned subsidiaries: Cognito Limited (Cognito), Estelar Resources Limited (Estelar), Sociedad Contractual Minera Eton Chile (Eton Chile) and Eton Mining Corp. (Eton). Cognito and Estelar conduct the Company’s business in Argentina. Eton Chile conducts the Company’s business in C

More good news... It's looking good!

LENI GAS & OIL Plc

('LGO' or 'The Company')

15, September 2009

Hungary - Penzlek Development Update

Leni Gas & Oil plc (LGO) the AIM listed international oil and gas exploration, development and production company today announces that PetroHungaria kft (LGO 7.27%) has completed the testing of the Pen-105 gas well in the Penzlek Development Area of Eastern Hungary. The gas rates achieved and the reserves associated with Pen-105 were substantially higher than pre-drill estimates

The Pen-105 well which was an appraisal of the Pen-12 discovery was drilled to a total depth of 1,487m and has now been completed in the tuffaceous Miocene reservoirs as a production well. Three intervals were tested in the target formation, such that 9 metres of reservoir were perforated. All three zones flowed gas (two with condensate), with no formation water. The productive reservoir found is substantially thicker than at the Pen-12 discovery well and mean resources have increased from the pre-drill estimate of 1.46 bcf. The mean recoverable reserves shall be announced in due course within an updated resources restatement.

The pipeline has been planned with an application for a construction permit submitted and approval is expected by the end of November. Production from the well is due to commence in early 2010. The Pen-105 well is located approximately 6 kilometres west south west of the current Pen-104 gas production well.







David Lenigas, Executive Chairman, commented:




'LGO are very pleased with the successful appraisal of Pen-105 and the higher than expected reserve and flow rates. This is another significant step forward for the expansion of LGO's gas development in east Hungary and we look forward to production commencing early next year.'

Presentations this evening, would appreciate info from anyone attending, location is too far from Cornwall.
2517

I'd have called in and said hello had i known george, toured in cornwall this summer.

Sorry about the weather.
2517

New article and analysis

Moving back up from 3p this morning, update from spain due anytime, may be of interest to some. Should move to 4p on any positive news. DYOR

yep, looking a bit better now !.....just need heaps of good news to get the SP to where it should be !

Active this morning on rns stating LGO have found oil flowing to the top of Hontomin 2 well.
2517

found at top and still drilling to bottom, this should get moving up soon

whats happening here today? have lgo strike oil big time?

Another excellent day, long may it continue. K--I haven't heard anything but huge number of shares traded and sp up 40%.
2517

there is a good read on oilbarrel about lgo.may be this will go back to its all time highs

27m traded already.
2517

Well off it's high's but still 12% rise.
2517

Not a good day here or BPC.
2517

any reason why the SP tanked today especially as the RNS reads well[well at least to a layman]
Alex

GOOD NEWS FOR LGO YIPEE. HANG IN ON THERE

Sounds good to me, would get them myself but too much dosh in everything else, been looking at them for a while. Good luck folks I may join you soon.

LGO to start reactivation work on Ayoluengo field

Leni Gas & Oil plans to start extensive field reactivation work on its Ayoluengo oil field in northern Spain.

LGO said it had received a field wide environmental permit from the Spanish authorities which permits operations on any of the existing 53 well locations and modifications to the processing facilities.

A campaign of well remediation and perforation will be undertaken and further work will be conducted to increase wellbore productivity and production reliability.

An additional workover rig including cementing and wireline equipment will be mobilised to the field in early February 2011.

It is anticipated the work will take two months to complete.

Production from existing producing zones and from new zones is expected to rise significantly by late April 2011.

LGO also said it had also executed the long term oil sales agreement with BP Oil Espa, previously announced in May.

LGO said its wholly-owned subsidiary Compaa Petrolera de Sedano, and BP had executed an oil sales and purchase agreement for the future sale of all refinery grade oil from CPS to the Castellon refinery.

A sudden move up since 11am, bouncing higher from lows lately
Positive Indicators, but mainly MACD on the UP ready for divergence

The directors of Ovoca Gold (AIM: OVG), Providence Resources (AIM: PVR) and Leni Gas & Oil (AIM: LGO) will be presenting: Thursday the 28th April 2011,Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.

FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/108

This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

Just a quick reminer!

The directors of Ovoca Gold (AIM: OVG), Providence Resources (AIM: PVR) and Leni Gas & Oil (AIM: LGO) will be presenting: Thursday the 28th April 2011,Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.

FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/108

This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

6 months later and the shares are half penny.

EK is tipping this as a possible ten bagger from half present sp.......shot up today...any views on this Trinidad deal......my Dad worked on an oil rig out there before the second world war.......some time ago......

Lets hope Range and Leni do well from this deal today.

rf did you hold this stock before the 50% rise today.

No....bought today half way through.....but up at close of play.....at a guess more to come tomorrow.....just a punt on this.....I'm mainly in the bigger boys....but so far so good....can't complain so far but these minnows are volatile.....

Just looked at the year chart,I think they needed this deal.

Some of the penny shares are recovering now after years in the doldrums....

Was going to have a few Thurs but perhaps the largest rise was today ?

Crude is rising as we speak......Hormuz trouble and such.....all it would take is a crackpot fisherman loading his trawler full of explosives and a suicidal attack on a western tanker out there and you would have 120US dollars per barrel for WTI....makes you think.......that....

Just got in, what a day I must get out more often, I bought my first batch of LGO in 2009 traded several times since then but bought a load at the end of Nov 2011 @ 0.54p so quite pleased, and MAGP doing really well for me, only bought them earlier this month @ 0.87p. Good luck all.
2517

Had an uplift! Is it time to run now?

How high could it go?

Immediate Release

7 February 2011





Leni Gas & Oil PLC

("LGO" or the "Company")



Gulf of Mexico Drilling Update





Leni Gas & Oil plc today announces a short delay to the start of drilling operations at the Eugene Island Field ("EI-184") in the US Gulf of Mexico.



The current operator of the Ocean Columbia jack-up rig at Eugene Island-51 has had difficulty in withdrawing the legs from the seafloor. Silt jetting and dredging operations are ongoing to free the legs so that they can be raised in order to allow the rig to be towed to the new location. Once the legs have been successfully retrieved the rig will be released by the current operator and moved approximately 55 kilometres to the EI-184 platform to commence operations on the planned A2ST01 sidetrack.



This delay has no cost implications to LGO and its partners in EI-184. A further update will be provided once the rig has been mobilized to EI-184.

Progress resumed I imagine from the sp rise.
2517

Still bouyant.

RNS Number : 4561E
Leni Gas & Oil PLC
31 May 2012

Immediate Release
31 May 2012
Leni Gas & Oil PLC
("LGO" or the "Company")

Drilling Update, Trinidad
LGO today announces progress with workover activities at the Goudron Field in south-eastern Trinidad.

Workover rig Altech-1 was mobilized to the field as planned and has entered well GY-190 and retrieved the down-hole pump. The rig is currently withdrawing the production tubing from the well in order to remove any accumulated sand from the casing prior to re-running the tubing and pump.

Repairs to the pump will be completed later this week and the well will be returned to production. Incremental production of up to 20 barrels of oil per day is anticipated as a result of this work. LGO expects to perform up to 50 similar workovers in the coming months.

LGO is operating through its wholly owned subsidiary Goudron E&P Limited as a sub-contractor to Cameron Oil and Gas Limited pending final transfer of the Goudron Incremental Production Service Contract to the Company which is anticipated shortly.

http://www.spreadbetmagazine.com/blog/

Leni Gas & Oil directors and shareholders are feeling rather cheesed off after selling their stake in a Maltese licence to Mediterranean Oil & Gas (MOG) for a knock down price which later turned out to be worth rather more! In fact, it was worth much, much more, apparently within a month.

In early August, MOG bought the remaining 10% stake in the Malta licence for $1, plus $19,050 in past costs. Leni said it would write off £1.9m in costs related to the licence. But then on August 23 MOG said it had sold 75pc of its Maltese blocks for $10m to Genel Energy, meaning that Leni has lost out to the tune of several million dollars. Genel will also pay for 2 drilling wells. Genel’s CEO is ex-BP man, Tony Hayward

Certainly it sounds a bit suspicious that the deal with Genel was consummated just 3 weeks after Leni’s exit and the company has demanded answers to questions on seismic data on the Maltese block as well as details of the timings of negotiations. On August 13, when MOG announced the Leni deal had been approved by Maltese authorities, it also revealed that seismic work had shown three leads in Cretaceous zones on the Maltese exploration block.

As often written, it’s a murky world in AIM and the Mediterranean directors seem to have played Leni. Ultimately the courts may decide whether it was illegal or not. Either that or the management team at Leni are rather incompetent!

Contrarian Investor UK

.

Is something stirring here?, Massive volume for the first couple of hours today..

3 September 2012

LENI GAS AND OIL PLC

("LGO" or the "Company")

Malta Area 4, Legal dispute with Mediterranean Oil and Gas

The Board of LGO announces that, through its lawyers Mishcon de Reya, the Company has attempted to seek confirmation from Mediterranean Oil and Gas Plc ("MOG") of the factual position underlying MOG's representations to LGO before the sale of the Company's 10% working interest in Malta Area 4.



Today's announcement follows LGO's statement on 23 August 2012, in which the Company expressed surprise that MOG had entered into farm-in agreements with Genel Energy Plc ("Genel") for a $10 million cash consideration and two well commitment on the off-shore Malta Area 4 PSC, only weeks after LGO had agreed to sell its 10% working interest to MOG for $1 plus approximately $20,000 of joint venture liabilities.



MOG has not provided any information. Accordingly, LGO has instructed Mishcon de Reya to repeat its request for confirmation of the factual position. Should no satisfactory answers be received by the evening of Monday 3rd September 2012, Mishcon de Reya has been instructed to seek disclosure through the courts and to assess LGO's grounds for rescission of the sale of its 10% interest in Malta Area 4 on the grounds of misrepresentation.



Mishcon de Reya has requested that MOG answer the following questions in full and in detail, and also provide copies of all information relating to the 2011 Long Offset 3D Seismic on Malta Area 4, to which LGO participated as a joint venture partner.



1. What does the 2011 3D seismic actually indicate as to Cretaceous prospectivity or any other prospectivity, what risks and reserves have been estimated and provided to Genel and/or other third parties and on what date(s)?

2. At what time did this prospectivity become evident to MOG and its subsidiaries?

3. On which date did MOG first have discussions with Genel or any of its shareholders, officers or staff concerning the PSC or the underlying hydrocarbon deposits to which it relates?

4. How did MOG come to speak to Genel about the PSC - and which party made the approach?

5. On which date was the prospect of Genel acquiring an interest in the PSC first raised?



Neil Ritson, LGO's CEO commented:

"LGO made it expressly clear to MOG, before entering into sale negotiations, that it would not sell its interest in Malta Area 4 if the 3D seismic analysis indicated Cretaceous prospects. LGO would not have sold its interest for $1 plus liabilities had it been aware of interest from Genel Energy Plc or other potential farm-in partners. LGO considers that MOG's subsidiary PECL, as Operator, was at all times under a duty to provide such information to LGO. LGO is concerned that representations other than the factual position may have been made to it prior to agreeing to sell and before signing the sale of its 10% working interest in Malta Area 4."

Mining and Resource Investor Evening- London - 21st November 2012

Following the resounding success of our previous evening events, Mining and Resources Quarterly and Shares Magazine are proud to offer another chance for you to meet, hear from and ask questions of key senior management figures from carefully selected companies in the mining, oil and gas sector.

This event offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

The evening conference is tailor-made for private investors and profesionals who already have exposure to mining and resources stocks, or anyone who is considering putting money to work in these exciting and dynamic industries.

Tickets are completely free but places are strictly limited so register now.



Date: Wednesday 21st November 2012

Venue: Novotel London Bridge,10 Pepys Street, London EC3N 2NR

Registration: 6.00pm

Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting:


Leni Gas & Oil



Leni Gas and Oil Plc (LGO) is an oil and gas production company that delivers growth through the selective acquisition of underdeveloped reserves and their enhancement. The Company identifies projects which can be enhanced through the application of commercial and technical expertise.

LGO invests in a relatively small number of assets, generally with a high working interest and operatorship, where it can apply its resources most effectively.
Since incorporation in 2006, LGO has invested in production in Trinidad, Gulf of Mexico and Spain. The Company has invested in areas with proven production and where there is significant further opportunity for development. Recently LGO has divested its minority interests in the USA to focus on its growing oil production interests onshore in Trinidad.

In 2011 LGO spent over €3 million on work to establish a higher production rate in Spain. Though production was significantly increased, the cost per barrel was seen to be prohibitive since access to capital was limited. LGO then embarked on a turnaround aimed at moving the business focus from high cost operations in Spain to lower cost operations onshore in Trinidad.

This process was started in late October 2011 and progress has been steadily achieved, but at a cost to shareholder confidence and resulting in a share price fall. The presentation will report on the process, on the issues encountered, the achievements to date and the way ahead. Significant sources of future value will be demonstrated.

Speaker: Neil Ritson, Chief Executive Officer


Tri-Star Resources


Tri-Star Resources (TSTR) is an antimony focussed development company with the strategic objective to become the west’s leading integrated producer of this critical metal, ranked top of the European and British Geological Survey’s list of most critical metals for industrial use.


The management team has a proven track record in the antimony market and the key assets are a mine and exploration licence in Turkey, Goynük, and a large exploration district in Stanley, Canada. It also has an antimony roaster facility being designed for construction in the United Arab Emirates (UAE) with a strong local partner.

REGISTER NOW

MORE COMPANIES TO BE ANNOUNCED

SP has doubled over the last 10 days, 50% increase from here and I'm in profit, just.
2517

Some big buys this morning.

Todays rns sounds promising, they have cancelled a credit line because it is not required.
2517

Seems to be becoming better regarded than of late. Could the new direction be marking a turning point?

hhhmmm no news though.
2517

After starting this thread 3 and half yrs ago and selling... I'm now back in! onwards and upwards!

I first bought LGO in June 2009 @ 5.38p, have traded many times since.
2517

rns production update, another case of travelling is far better than arriving.
2517

Listen to an interview with Leni Gas & Oil

Click here

Listen to Neil Ritson, CEO, Leni Gas & Oil discuss the debt facility.

Click here to listen

Watch the new LGO video which is going live at 2:30GMT

Click here to watch

Watch Leni Gas & Oil - AGM highlights

CLICK HERE TO WATCH

LGO has near tripled production and no comments on here !!

Check last Rns


June 2013

LENI GAS AND OIL PLC

("LGO" or the "Company")

Production Update

LGO today announces that Group-wide oil production from its operations in Trinidad and Spain now exceeds 400 bopd and on the 10th June 2013 total production was over 450 bopd, a new Group record.

In Trinidad, where the Company produces from the Goudron and Icacos fields, LGO's net oil production has increased to 315 bopd on the 10th June 2013.

Oil production has increased consistently since the acquisition of the Goudron field in October 2012 (LGO; 100% operator) and Goudron now contributes two-thirds of the Group total. Production growth is expected to continue through 2013 as additional wells are reactivated and placed on pump. The Company continues to operate two work-over rigs on the field installing new beam pumps and down-hole equipment which arrived in the field over the past few months. Beam pump units for 20 further wells are on order and will be delivered progressively between now and September 2013.

The Icacos Field performance (LGO; 50% non-operator) has been less strong in recent weeks and additional well work-overs are required by the operator to restore previous production levels in excess of 35 bopd (gross). Although not a significant producer to the Group, LGO expects Icacos to be back to recent levels within the next few weeks.

Production from the Company's field at Ayoluengo in Northern Spain (LGO; 100% operator) continues to perform well with oil production on 10th June 2013 of 143 bopd (FY 2012 average: 130 bopd) and it is anticipated to remain broadly at this level for the remainder of 2013. LGO is currently seeking a partner to co-invest in future production enhancement projects at Ayoluengo where a number of potential capital projects to raise production levels have been studied.

Neil Ritson, LGO Chief Executive, commented: "We continue to be ahead of our planned progress towards the 400 bopd target set by the Company for Trinidad by end year. We are continuing at an aggressive pace in Trinidad and we remain confident of the development potential in the country."

In for 800k of these today :-)

Have been watching this last few weeks,could easy two or three bag IMO

Listen to Listen - Leni Gas & Oil #LGO - Update, Goudron field.

Interview

LISTEN: Leni Gas & Oil - Reduced royalty rates - Goudron, Trinidad

CLICK HERE

Leni Gas & Oil #LGO - Interim results

Click to listen

LISTEN: Leni Gas & Oil LGO - Update Maxim joint venture in Trinidad

Click here

LISTEN: Leni Gas & Oil - Drilling plan, Goudron

Click here to listen

LISTEN: Leni Gas & Oil (LGO) - Goudron field drilling interview

LISTEN HERE

Going to be a very busy year for LGO with plenty of news on production rates. At last looking more interesting.
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LISTEN: Leni Gas & Oil (LGO) - Development drilling Goudron field

Click the link below to listen
http://www.brrmedia.co.uk/event/119951/neil-ritson-chief-executive-officer

LISTEN: Leni Gas & Oil (LGO) - Partnership in Spain

Click here to listen

Mining and Resources Investor Evening - London - 24th April 2014



The Shares Magazine 'Mining and Resources Investor Evenings' are firmly established in institutional and private investors diaries, so we are proud to offer you another chance to meet, hear from and ask questions of key senior management and directors of selected companies in the mining, oil and gas sectors.

The evening offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in their sectors, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who matter.

The evening conference is tailor-made for private investors and professionals who already have exposure to mining and resources stocks, or anyone who is considering putting money to work in these exciting and dynamic sectors.

Tickets are completely free but places are strictly limited so register now.

REGISTER NOW

Date: Thursday 24th April 2014

Venue: Novotel Tower Bridge, 10 Pepys Street, London EC3N 2NR

Registration: 6.00pm

Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting:


International Mining and Infrastructure Corporation (AIM:IMIC)

http://www.imicplc.com

International Mining and Infrastructure Corporation plc (“IMIC”), listed on the AIM Market of the London Stock Exchange, is focused on unlocking value opportunities in the African iron ore space which are currently constrained by the lack of infrastructure solutions. IMIC is seeking to establish an important asset-ownership position in the West and Central African iron ore mining sector through investment in junior miners and related infrastructure.

Speaker TBC

Leni Gas & Oil (AIM:LGO)

http://www.lenigasandoil.com/

During 2013 Leni Gas and Oil plc ("LGO") continued to build production potential and long term capacity in Trinidad.

Speaker: Neil Ritson, CEO

Tower Resources (AIM:TRP)

http://www.towerresources.co.uk/

Tower Resources plc is an AIM-listed, London-based, independent oil and gas exploration company with a regional focus on sub-Saharan Africa

The Company holds a 30% working interest in a licence comprising three blocks offshore Namibia through its operating subsidiary, Neptune Petroleum (Namibia) Ltd., and a 50% interest in three contiguous licences, onshore and offshore, in the Sahawari Democratic Republic through its subsidiary Comet Petroleum Ltd.

Speaker: Graeme Thomson, CEO

MORE COMPANIES TO BE ANNOUNCED

REGISTER NOW

DRESS CODE: Business attire

That's interesting, LGO shares are still trading ahead of the Court case outcome due at 10.30 but, MOG the other party involved have suspended their shares ahead of the announcement. Perhaps MOG think they may lose the case and their sp will tank.
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Not so, MOG is in the clear.
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WATCH: Leni Gas & Oil (LGO) - Goudron field, Trinidad

Click here to watch

Promising rns.
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Listen: Leni Gas & Oil (LGO) - Goudron update

Click here

Nice update!

http://www.moneyam.com/action/news/showArticle?id=4821554

Very promising and with a total of 30 wells to be drilled the outlook is bright for LGO.
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Couldn't resist a top up, the future is brighter than orange, more red hot I would say!

I was considering a gibby moment but will save it for the 10p point.
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">

Upwards and onwards, or is it downwards and upwards?! Anyway whichever, good progress.

http://http://www.moneyam.com/action/news/showArticle?id=4822864

This was from the rns yesterday.
Chief executive Neil Ritson said: "This is a very significant outcome and I am sure it will be completely transformational for the field and the company''.
Quite liked that.
2517

Chugging along very nicely!

Sure is, and it's early days yet kim, so much to look forward to here. Volume looks likely to top yesterdays 318m
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David Lenigas has his finger in so many pies George, not sure which is the hottest!

Yes you're quite right kim he has, but there are 30 wells to drill and a lot of newsflow to come, yes there may be some duds but the noises being made are positive and an sp some way north of here is likely. AIMO of course. Good luck
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Well, I'm happy to put a chunk of my kids' inheritance into LGO George. What could go wrong?! At the current sp it appears to be a no brainer. Heard that a few times before mind you! :o)

Phone the police.......thats not kimoldfield speaking and his kids have dis-inherited him.,.

Lol!

I think he's one of the Dragons !....his name begins with K.....Komodo.....

I'm glad commode isn't spelt with a k! :o)

Leni Gas & Oil has terminated talks on a potential partnership in its old and and gas assets in northern Spain with Pansoinco.

This included the producing Ayoluengo field and the prospective Hontomin field development.

And LGO says it is no longer actively seeking further expressions of interest.

Immediate plans for the Spanish assets include the anticipated award of a production concession at Hontomin in 2014 and additional well maintenance and stimulation of the producing wells at Ayoluengo field.

LGO says the Ayoluengo field remains profitable and the company is confident that its 2014 production forecast will be met.

LGO continues to be committed to fully optimise the value of Spain and strategic alliances have not been ruled out for the future.

Chief executive Neil Ritson said: "In the light of the recently announced successful drilling and production results in Trinidad, the company has reassessed the benefits of the proposed partnership and is now firmly of the opinion that greater value can be obtained from the Spanish assets through LGO investing in additional well capacity in the period of 2016 to 2020, at a time when there is expected to be free cash flow available from the company's operations in Trinidad."

Full RNS:- http://www.moneyam.com/action/news/showArticle?id=4823628

Good news as far as I and my dis-inherited kids are concerned! :o)

LOL: is it back to 1p now??

:o) no chance! 4p before you know it!

Up 20% this morning.

A very encouraging RNS!

WATCH: Neil Ritson, CEO, Leni Gas & Oil (LGO) - Goudron drilling update

Click here to watch

Goudron drilling update.

More good news!

Off 10% today.

Makes for a good buying opportunity, so I have taken advantage of it. I may well live to regret it but I am confident that there is a lot more to come. 33 more wells to drill, if they all produce oil where will the sp go?!

Don't like that word "IF" has a habit of iffing off.,.

Oh yes, you're right! What I meant of course is when, not if! 😊

Some reading material for the weekend, non football related!

Annual Financial Report

Listen: Leni Gas & Oil (LGO) - Goudron well GY-666 reaches total depth

Click her

Potential acquisition of producing oilfield in Trinidad.

Lenigas raises £7m for Trinidad investment.

You could have picked LGO shares up in the market recently for less than the placing price, so my view is that this placing is beneficial.
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I agree, LGO had a good placing price at 3.5p.

bought back in a few weeks ago.... hoping for significant news & sp increases in the coming months

Listen: Leni Gas & Oil (LGO) - Goudron drilling update

Click the link below to listen
http://www.brrmedia.co.uk/event/124747/

Watch: Neil Ritson, CEO, Leni Gas & Oil (LGO) discuss - Ayoluengo Field, Spain

Click the link to watch

red day head - dl leaves lgo?

Await the production from these 5 wells now, and the next 4 drill targets will be underway soon, lots to look forward to with plenty of newsflow to come.
2517

blue day ahead....................


David Lenigas @DavidLenigas · 13h

Great to see the volume in LGO today. 80 million shares. Surely this is not just retail investors. Just my personal view.

excellent volume today - looking v good :-)

Leni gas oil - Record oil production and well update Click the link to hear more

http://www.brrmedia.co.uk/event/127412/

1080 bopd recorded, excellent with much, much more to come.
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Well, I finally took a nibble. Kicking myself for not getting in sooner but it looks like
it still could have some legs given the forthcoming regular news flow.

Welcome aboard annie38, I don't think you will be disappointed with LGO, I'm in from an average of 1.40p so well pleased. There is plenty of newsflow to come.
2517

All looking good!

Top performer today.

Listen Leni Gas & Oil - Goudron Field update

Click here

Neil Ritson, CEO, Leni Gas & Oil: On-site at the Goudron field - Pad 2

Click here

fantastic rns
Leni Gas & Oil PLC
Goudron Drilling Update, GY-669
RNS Number : 7458U
Leni Gas & Oil PLC
20 October 2014


For Immediate Release

20 October 2014





Leni Gas & Oil PLC

("LGO" or the "Company")



Goudron Drilling Update, GY-669



LGO is today pleased to announce that well GY-669, the sixth of its planned 30 new development wells at the Goudron Field in Trinidad, and the first well from the third drill pad, has been successfully drilled to a depth 2,390 feet measured depth ("MD"). Based on independent petrophysical analysis of the electric logging the well intersected 227 feet of net oil pay in the Goudron Sandstones. The well is currently drilling ahead in the Gros Morne formation.



Neil Ritson, LGO's Chief Executive, commented:

"The Goudron Sand has come in on prognosis and is oil bearing as in all previous wells. The new well design, with three casings, is proving valuable in isolating the thin gas stringers in the formation above the Gros Morne Sandstone reservoir and allowing us to drill with optimum mud properties in the main reservoir section, further reducing the risk of formation damage and increasing likely production rates."



The well has been cased to a depth 2,294 feet MD in order to isolate the Goudron Sandstone and a number of thin high pressure gas intervals in the Upper Gros Morne. The well is now drilling ahead to the primary Gros Morne Sandstone oil target which is expected at approximately 2,500 feet MD.



Well GY-669 has a planned total depth ("TD") of 3,926 feet measure depth ("MD") (equivalent to 3,800 feet TVD) in the Lower Cruse at a bottom-hole location that is approximately 360 feet north of the surface location.



Once TD is reached the well will be logged and cased ready for completion as a production well.



A summary of the drilling program results to date is given in the Appendix below.

Listen: Neil Ritson, CEO, Lenigas and Oil - Goudron drilling update

click here

More news re GY-669 can't be far off.
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Right on cue, on the face of it this looks even more promising but the sp is rather muted on the news so far.
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Leni gas & oil - Survey of Southern Basin of Trinidad

Click her

The cost per barrel at Goudron is down to $6.
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LGO Energy - Goudron drilling and production update, Trinidad

Click here

LGO Energy - Trinidad Acquisition: Tabaquite Block

Click here

It is about time that this share tested 5p again!

LGO Energy - Agreement to acquire BOLT deep rights

Click here

Should help the sp.
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LGO Energy - Flow rate of Goudron well GY-670 exceeds 1,000bopd

Click here

LGO Energy - £1 million raised for Goudron, and Cedros update

Click here

Watch: Neil Ritson, Chief Executive, LGO Energy - Goudron Pad 3 well update

Click here

CPR due this month.
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Disappointing they have to resort to a hefty discounted placing from which pi's are exempt.
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LGO Energy - Fundraising update

click here

LGO Energy aims to increase oil production in Trinidad

StockMarketWire.com

LGO Energy has announced that its wholly owned subsidiary, Goudron E&P, has now drawn an initial $11.78m from the $25m pre-paid oil swap facility agreement with BNP Paribas to fully fund the planned 2015 development drilling programme in the company's Goudron Field in Trinidad.

This funding will be targeted at significantly increasing oil production this year with the drilling of at least seven new development wells at Goudron, as a follow on from last year's successful eight well drilling programme, and also to upgrade the field's oil handling infrastructure which is needed to meet anticipated sales capacity through the second half of 2015.

Neil Ritson, LGO's chief executive, commented: "We are now entering one of the most exciting growth phases of the company and are delighted that this finance facility is now in place and that our development programme at Goudron will be carried out through a long term funding arrangement with a first class lending institution.

"As our business grows in Trinidad we look forward to the relationship with BNP Paribas growing to match our needs."

At 11:05am: (LON:LGO) Leni Gas Oil PLC share price was +0.06p at 2.48p

LGO Energy - USD11.78 m drawn from BNP Paribas facility & Goudron Field update

click here]

LGO Energy - Goudron drilling and field update

click here

new video by Neil ritson, ceo of LGO: link

Neil Ritson talking about the annual reports and expectations for investors: click here

Usual sell off on the news, still holding in anticipation of significant sp appreciation.
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New good news on Goudron project by the CEO: link

Updates on the Goudron project: click here

LGO's BOLT stake

StockMarketWire.com

LGO has completed the acquisition of a 25% stake in Beach Oilfield Limited with which LGO already holds an agreement to acquire the deep petroleum rights to all of BOLT's South West Peninsula interests in Trinidad.

Through this acquisition LGO also now has access to an interest in the shallow petroleum rights held by BOLT, including the producing Bonasse Oilfield.

LGO chief executive Neil Ritson said: "We consider the South West Peninsular of Trinidad to be a major medium term investment opportunity, especially the deep targets which have so far not been adequately explored, however, the acquisition of an interest in BOLT also gives rise to immediate access to shallower objectives including within the producing Bonasse

Watch: LGO Energy - Acquisition of a 25% stake in BOLT

Click here

if you want to know why LGO is thought of as highly as UKOG, then look no further than the common factor of David Lenigas
this is not someone with whom one would even want to shake hands without checking that you still had all your fingers
i happened across - can't remember exactly - a news item on the television yesterday evening, in which UKOG was discussed ..... said it all!

.

LGO Energy - Goudron Sandstone programme

click here

Not good news .....

http://www.moneyam.com/action/news/showArticle?id=5134787


LGO Energy (LGO), down 41.82% to 0.48p, has plugged well GY-678, Trinidad, after equipment was lost down the bore. Attempts to recover the equipment cost about $1.9m. The value of the equipment was about $1.5m and LGO may yet be liable for it. The well may yet be re-drilled to reach the extensive C-sand net oil pay zone previously drilled and logged in the well

Not sure what's more shocking here.

a) people still buying

or

b) £17 million market cap.


in a race to the end alongside CAZA.

sorry for you guys holding these, though it has long been one to avoid along with UKOG - see post 166

but you aren't alone ...... advfn has threads for both the above, on which i got roundly abused some time back for daring to suggest that both companies were as good as saturated cardboard

I never bought in here just had it on my watch list , i wouldn't touch any really small oilers .

Neil Ritson is presenting at one of our evening events on 19th November, main topic is Solo but I know already a few LGO shareholders will be there to talk with him over drinks! Who Should Attend?Date:

Thursday 19th November 2015

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by:

I think this will beat Caza to the bin after today's rns.

NTOG trying to get involved though that one has always found cannon fodder to sell new shares to in the past so may be able to last longer.

LGO, UKOG, REG and any other company that this scumbag has anything to do with should be avoided like the plague

tried to tell peeps on advfn and perhaps here a few months ago and was roundly abused for the pleasure

Not by me.

It looks like my holding in LGO (don't hold the other 2) is next to worthless, however whilst I still hold quite a few I off-loaded the rump @5.45p about 14/15 months ago for which I paid an average of 1.40p so I made good money overall from what now seems to be just a rag (oily). It's still annoying though given the drilling results to date.
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KEEP an EYE

0.10125p

Has been moving higher during the last week as it reached a low of 0.875p

any of those could be true
Re-finance

Spanish oil sale
Licence extension - Spain
In fill wells flow results
News on drilling programme
EOR timetable
Cedros partner
More favourable Petrotrin terms
OPEC agreement
1,000 BOPD

aaarrrrgggghhhh!
is that crook lenigas still involved?

at least he seems to have backed out of REM (don't hold those either) though his smell still pervades

Something is going on as volume reaches 250M and share price at 0.011125p after reaching 0.01175p

Falling Wedge

The falling wedge can either be a reversal or continuation signal.

As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next.



http://s3.amazonaws.com/babypips-media-production/images/2016/05/grade7-falling-wedge-reversal-after2.png

and gone to 10.75 v 11p +0.025p

one hour delayed BUY trade for 40M shares
interesting to see some interest once again

09:57:36
0.1075
40,000,000
£43.00k

KEEP an EYE

0.10125p ( 0.10 v 10.25p )

It went all the way to 0.155p not long ago and after the large retracement, and bounce from the lows this morning, could bee ready to better things again.
Positive level 2 of 2 v 1 and buyers paying full offer and even premium 0.1234

since

earlier someone paid 0.1034p earlier, premium for 3.8M
another was prepared to pay 0.104p and the only MM left gone to 0.1050p
now the Level 2 has improved again as there is 2 at bid 10.25p

Level 2 is 2 v 1

what moved the offer........
14:29:0
0.104p
961,543

Finished the day at 0.105 v 0.11p +0.0037 (+3.61%)

That means the Closing Candlestick is a "HAMMER" and that means reverse on the share price
---------------
The HAMMER
The Hammer is an extremely helpful candlestick pattern to help traders visually see where support and demand is located. After a downtrend, the Hammer can signal to traders that the downtrend could be over and that short positions could potentially be covered.

----

Downtrend over, now on the bounce after retracement from 0.15p



A strange % of retracement 88%

0.11375 +0.0063 (+5.81%)

continuing with the change of trend with very good volume as is rising 202M
WINS has been playing with the bid price on the afternoon moving to 0.115p and then down to 0.11p a few times.

0.1225p +0.00875p (+7.69%)

another good movement up with volume 241M so far on Half day

0.12875p +0.00875p (+7.29%)

A good rise so far and with volume as usual 65m so far

0.14625p +0.015p (+11.43%)

another good rise from the start, has reached 0.15125p almost like the last intraday high last month of 0.1525p

It is a long time since the last time I was here, it went to 0.1575p on the spike, I did wait for the next day as it did not go further up than that price and I did sell @ 0.1455p on the 16th.

I have been following the stock since with the idea of buying again and 2 days ago I did a retracement chart and 0.11p was an important point, with maximum retracement

So I bought this morning at 0.109p, as the level 2 was very bullish at 3 v 1 and the real spread buying / selling was 0.1078 v 0.109p

0.1125p +0.625

RE: Time to bounce - Today 09:28
CEFD got a shock with the 2M buy and went up 0.50p on the price, nice to see the buy are still on a NO sells, no wonder the bid price is higher also.

Today 09:51
This time was WINS with the 10M buy who got the deal and certainly it moved into the bid 11p, so now 2 there


MAM chart does not give the propper price

0.12p +0.0087p (+7.87%)

going places today as the volume reaches 78M

0.1225p +0.00125p

Some very large trades not long ago got the stock at best of the day as now buyers are paying full offer 0.125p

PROACTIVE INVESTORS - 11:52 09 Feb 2017
LGO Energy's Neil Ritson 'hoping to move quickly' to re-establish Spanish production

LGO Energy PLC (LON:LGO) executive chairman Neil Ritson talks to Proactive about the company's intention to re-apply for the production licence at the Ayoluengo Field in northern Spain.

The field was operated by its subsidiary Compañía Petrolífera de Sedano (CPS) until the termination of La Lora Concession on 31 January.
--------------
Trinidad - Forestry stuff resolved.
video from CEO

http://www.proactiveinvestors.co.uk/companies/stocktube/6894/lgo-energy-s-neil-ritson-hoping-to-move-quickly-to-re-establish-spanish-production-6894.html

0.13375p +0.0087 (+7.00%)

Another good move up today, oil price on the rise helps, a spike at 9am to $ 56.25 + $0.55p

0.13625p +0.0087 (+6.86%)

Operational Update, Trinidad
LGO today confirms that final approval was granted by the Forestry Department on Friday, 10 February 2017, to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field ("Field") in eastern Trinidad. Site clearance work will now start at H18E N4 and final preparations will be made to mobilise Rig#18 to the Field. Drilling operations will commence as soon as the site has been cleared and levelled, and the rig is in the Field.

Well H18E N4, which is expected to be designated GY-682, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth and the well is anticipated to be completed for production immediately after drilling operations are concluded. Rig#18 will then be moved to the second planned location, H18E G11(5).

Neil Ritson, LGO's Executive Chairman, commented:

"A delay beyond our immediate control caused some minor slippage in the timing of the planned drilling programme, however, we are very pleased that work is now underway. These wells are the first two on a renewed campaign of production well drilling and we are pleased to be able to return to normal operations and to the multi-year development plan we have had in place at Goudron since its acquisition in 2012."

------------------
from proactive investors

"If successful, production will start immediately after drilling operations finishes when the drill will move to the second location."

Just in time for an oil price rise...?

I'm hoping it will become known when the second infill (H18E G11(5) begins that we have further funds being requested to be released for the next group of wells.

It's quite possible that NR may allow the first 2 wells to flow (on pump) for a couple of months to observe decline / fluctuations before they start on the 3rd of 4th well but, time is money and we need both.

12.375p +0.0112 (+10.00%)

Drilling Update, Trinidad
LGO can today confirm that Rig#18 has now been successfully mobilised to the Goudron Field where it has been contracted to drill at least two infill wells to the Mayaro Sandstone reservoir. Drilling operations are now expected to commence in the next week.

As previously announced, the first well, H18E N4, which is expected to be designated GY-682 at spud, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth and the well is anticipated to be completed for production immediately after drilling operations are concluded.

Consolidation Ratio: 1-for-20 Expected ex-date: 8th March 2017 Record Date: 7th March 2017 LGO Energy Plc has announced a 1-for-20 Consolidation, whereby holders will be issued with 1 new share in exchange for every 20 shares held. Application will be made for the New Ordinary Shares, to be admitted to trading on AIM, and dealings are expected to commence on the 8th March 2017. The record date is the 7th March 2017 and the ex-date is expected to be the 8th March 2017. Accounts will be updated on upon receipt of the stock from the company.

anyone investing in anything tinged with david lenigas needs plenty of spare fingers

And cash to lose in many cases! :o)

Not everyone wants to be poor all their live investing on safe stocks with dividend.

I am managing 20 to 30% profit and moving on waiting for retracement, time and time and again has work so far.

Look at the chart above ideal for this type of in and out.

My last 2 trades already cash in
in 0.1025 out 0.1285
in 0.1090 out 0.1382p

I am in now at 0.1125p

I am comfortable holding LGO because my holding is a residual free one which I will keep. LGO's 'rescue' could be short lived but if nothing else goes wrong for them then I think survival is on the cards. I hope no one puts their shirt on it though!

12.675p +0.0875p (+7.45%)

Nice movement up this afternoon, almost reaching earlier highs 275M shares traded

mentor - if i am deemed to be poor, then am very comfortable being so .... there are many risk/reward stocks, but some are a much better bet than others

to my mind, LGO and other verstinkene lenigas-associated stocks most definitely fall into the class of "others"

12.75p +0.0625p

LGO ENERGY PLC - Spud Well of GY-682, Goudron Field, Trinidad

LGO is today pleased to confirm that well GY-682 was spudded on Saturday 4 March 2017 at the Goudron Field in eastern Trinidad. Site preparation work at location H18E N4 was completed during the week and Rig#18 was accepted onto contract and commenced drilling operations immediately. Well GY-682 is the first of a number of planned Mayaro Sandstone infill production wells. Rig#18 has initially been contracted for two wells as part of a larger programme of infill wells planned to be drilled in 2017.

Well GY-682, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth and the well is anticipated to be completed for production immediately after drilling operations are concluded. Rig#18 will then be moved to the second planned location, H18E G11(5) which is expected to be designated as GY-683.

Is "cynic" a pain on the @rse?

I would say so, posting charts of 5 years on oil stocks than has been in trouble due to the oil price going from $110 to $28 of the last few years?

I am buying now and sell a few weeks later ( buy low sell high is the game on the stock market )

Go to ADVFN with you Goldfinger ( mean cut fingers lately) is where you cup of tea is now days, yes godly, yes mel, yes 3er eye.
Has "doodle" being thrown stones at you once again that you are coming here?

If you do not like the stock stay clear of the stock or posting then as easy as that.

so stop being a pain on the @rse for so long.

i merely posted accurate information without comment, for others to have a balanced view and so they can decide for themselves

as always, you cannot abide that someone posts contrary views to yours

in my opinion - and it matters not whether it is yours - and as i have regularly posted before (eg #203 here), any stock tainted by david lenigas is best not touched with a bargepole

re - contrary views to yours

Posting a chart of 5 years?
you must need some help from the lunatics on the other side!

Clear as you have stated >>>>>>> YOU are a BIG PAIN on the ARSE

There is no SOFT toilet seat on ADVFN today, so you come here

you really are such a pathetic person

historic charts may be history, but they certainly have a relevance, whether you like it or not


stick to your charts and comment attaching thereto
you can assuredly do what you like with your own money ..... but others may do likewise

Just sold 0.1305p ( spread 0.13 v 13.50p ) level 2 of 2 v 2

Do I have to thank you?

am i interested?

off course you are, otherwise you will not be here, seeing my gain of 16.44% during 2 weeks of trading and naturally a closing bargain T+11 of a T+20 so pocked with out having to pay for the stock just under £700

i really don't give a toss whether you made a profit or a loss of £700, £7,000 or even £700,000 ..... and i doubt anyone else does either


anyone's interest in this share will be whether it has the right risk/reward profile for them
you give one personal view and i another

Of course NOT

You are only interested in 🐂💩 ........

on being a contrarian
on having hospitality, as you are a lonely soul
on having a soft toilet seat, to cushion your pain on the Arse
on having charts from "mentor" of large companies coz small ones are too risky
and so on

Like a phoenix rising from the ashes

4p +0.55p

Successful well GY-682, Goudron Field, Trinidad

LGO, the oil and gas company with reserves, resources and production onshore Trinidad, is pleased to announce that its first development well GY-682 in the new drilling campaign on the Company's Goudron Field, reached total depth ("TD") at 1,145 feet measured depth on 8 March 2017. Electric log interpretation of the Mayaro Sandstone target interval confirms the presence of oil over an estimated net reservoir thickness of 408 feet. It has been decided to perforate and place on production 273 feet of the best net oil pay within the Mayaro reservoir.

Well GY-682 will shortly be put on production with a downhole pump and a stabilised production rate will be established, at which point the Company expects to announce the average initial flow rate. GY-682 is one of a programme of planned Mayaro infill wells, each of which is forecast to have average initial production rates of 45 barrels of oil per day ("bopd") of light sweet crude, with low decline rates. The well was drilled on time, in 5 days, without incident and is expected to be on budget; costing US$500,000.

Neil Ritson, LGO's Chief Executive, commented:

"I am delighted that, having sorted out the balance sheet issues in 2016, we are back to development drilling at Goudron. The first well has been a success, having drilled to TD in under a week and is showing the expected net oil pay. Production will start shortly, adding to our production base and the rig will move to the next well site. After months of restructuring, we now have momentum back in the business."

The next well, GY-683, in the shallow infill program will be spudded shortly. Three additional wells have been now approved by the Ministry of Energy and Energy Industries as part of the ongoing development in which 45 wells have already received environmental approvals.

LGO has 11.8 million barrels ("mmbbls") of Proven and Probable Reserves ("2P") in the Goudron Field and is currently producing light sweet oil with an average API gravity of 37 degrees. In addition to its reserve base LGO has significant low risk, onshore upside in the Trinidad portfolio including 22 mmbbls of most-likely ("P50") Contingent Resources ("2C") in the Goudron Field and an estimated gross P50 unrisked oil in place of 1.3 billion barrels in the South West Peninsula leases.

KEEP an EYE
LGO 2.65p ( 2.60/2.70p)

Is reaching the maximum Fibonacci retracement 78.6%. large drop today with not much sales, but most likely MMs want to reach bottom point. Level 2 of 2 v 1 - LGO earns BUY rating from VSA Capital with target of 22p - March 23, 2017 Robert V. Boyd



I bought some @ 2.67p

i see it's also being touted by some spivvy share tipster sheet

Today's drop was overdone considering the buys / sells where almost the same
The main reason was the 1.5M sell under the bid price, that when the delay trade was reported, the MM at 1.65p bid marked down to 1.60p and all stayed at this price till the end.
Some MMs must be short of stock doing that today.

BUYS - 2,075,862
SELLS - 2,193,124

note - The low of the day on the afternoon 2.625p was the 78.6% Fibonacci I was expecting on the chart

spread 2.70 v 2.85p +0.10p

There was some buying at the start and kept the movement up since with bid to 2.70p
It must be a large buyer by the way the MM is gone to the bid not long ago, or a large delayed buy

edit - Has change name to Columbus energy - CERP

Everyone abandoning cerp it seems.

the stench of the lenigas connection must have persuaded someone to change the name, even if the company remains a load of shit