A lot of nonsense being written on Leni Gas & Oil over the last 4 weeks. Twitchers a plenty. So here’s the definitive story. It’s game on for Lenigas & Oil share-holders. Those like myself who have been holding onto our shares could be set to reap huge gains when production data from not one but four more Goudron wells begins to be released. Make no mistake here. This share price could and should rocket.
I can exclusively reveal that the 1st Goudron well GY664 is ‘still’ on a restricted choke producing 240bopd without any loss of pressure. This is fantastic news. Here’s why. LGO have four more of these to come on production. Do the maths. The canny investor can make good gains here by simply holding for the news. I asked Mr Marmite (2 weeks ago). Are we going to get four separate RNS’s on each and every well that comes on production? It would seem so.
Each Goudron RNS will be a leg up for the sp. Why? Because each RNS is going to increase the bopd significantly. You can bet your last shekel that those who took £7million pounds worth of stock were given ‘good’ information on where the LGO sp will be in 6months. By sheer force of logic it is elementary my dears. If they weren’t they wouldn’t have parted with the cash. So just what info’ was given?
I suggested LGO release one big humdinger of an RNS when they have all 4 Goudron wells from pad 2 on full production producing over 1500 bopd. “We can’t do that, have to release material information as and when it happens, we can’t sit on it and besides it would leak out.” I really should join Special Branch! “We can’t sit on it<sic> it would leak out” It just has!
The 1,000 bopd target set by LGO looks to me to be as good as already surpassed. By my calc’s present bopd is between 400/600. There’s more oil going to come from the HOA (purchase) of the Trinity-Inniss Field in south-eastern Trinidad, which is close to the Company’s existing Goudron Field. Inniss itself will add 140/150 bopd, just as it stands without any workovers or drills. We know what Goudron can do. Can Inniss do the same? We will soon find out.
The Company have gone very quiet over recent weeks vis-à-vis market watchers, journalists & bloggers seeking information. Some may think that the recent placing has taken the fizz out of the sp. You couldn’t be more wrong. There’s been no big sell off. Those that know are awaiting the ramp up in production that we will get over the next 4 weeks or so. Are we headed for 5p? 7p? Are we headed for 10p? It’s not a hard one to gauge. It’s going to rise. How high? I can see 8-10p very easily being hit (dependent on the news). But it is for each & every one to decide how they play their investments. More oil means more cash and it looks and feels as though LGO’s meteoric rise will continue.
As it now stands the ‘scores on the doors’ are 765 ft of Gros Morne net pay from 3 Goudron wells with 2 more wells yet to give up their Gros Morne figures. We are looking at 1200+ ft of Gros Morne net pay from 5 wells. (I’ve not included the 110ft of Lower Cruse net pay) Remember if you’re a long term holder there’s another 25 of these and more than likely yet similar production from Inniss. LGO assets are the Goudron Field IPSC,100%, the Icacos Oilfield 50%, the Moruga North leases 49% and the Cedros Peninsular leases, with 100% of Trinity Inniss on the way. Spain I’m ignoring.
A catalyst here would be the spud of GY668. Which would put LGO only a couple of weeks away from announcing production from four more Goudron wells. This will be a huge driver of the sp.
Mr Marmite has gone awfully quiet. My emails and calls have gone mainly unanswered. Was he pissed that I told him off on the recent UKOG placing? No. I’m merely one of the many irritants that keep buzzing around his Companies trying to get information. DL accepts this with good humour.
There’s one thing I’ve learnt over the years with Marmite.
David Lenigas runs to form when he’s on a winner! He goes, contrary to popular belief, very quiet.
All is quiet at the House O’ Lenigas.