A quick new thread as ina rush......
Just been noticing how LGO seems to have been somewhat in demand over recent days, rising on good volume too.
Today we have SCAP continuing to drive the price with a bid 0.5p over the pack.
Is it a hint of something to come or just a bounceback?
A quick new thread as ina rush......
Just been noticing how LGO seems to have been somewhat in demand over recent days, rising on good volume too.
Today we have SCAP continuing to drive the price with a bid 0.5p over the pack.
Is it a hint of something to come or just a bounceback?
FWIW it is a tip on t1ps.com and I think they have been buying for their small cap fund. I'm not sure what recent volumes have been like but I think it is pretty thinly traded.
Hi doverbeach if you click the feeback tab on the right then the guys who run the site will fix this for you. They are very helpful.
Many thanks for reporting the bug - still a few kinks in the database but we will swap it over later today.
Nothing posted since May??? Well I suppose that is because LGO has become a serial disappointer! The company posted a pretty upbeat update in January 2009 promising much during the year and gave some positive looking gas & oil output figures then. Virtually all of it's similar statements have fallen short of the January figures [OK there was a big Hurricane in the Gulf of Mexico!!]. This downwards drift in monthly output figures usually had a "but things will improve next month" content - but they haven't. One can see them all on the LGO website!! Having rather foolishly believed the "story" I am now sitting on a 40% loss and feeling rather aggrieved!! However there has been some recent upward movement ion the share price. But then December's update forecast good news in January 2010. [I really think David Lenigas should start calling them "downdates"] Here's a comment I posted elsewhere in August this year which gives some idea of what I see as a problem:
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Perhaps I am in a minority [of one?]. But I am getting fairly fed up with the LeniGas monthly updates which are always couched in very positive sounding terms. However they seem almost inevitably to record a reduced output each month. I’ve gone back through the updates for the last year listed under Financial News of the LGO website and in January 2009 LGO announced that the December 2008 monthly production was 20,020 boe. Since then the monthly figures have gone down and down and the most recent figure announced today was 12,034 boe - a drop of some 40%!!. Here are the figures from each monthly update from Feb 2009 which show this downward trend: Feb 19,045 boe, March 17,753 boe, April 15,539 boe, May 18,045 boe, June 16,845 boe, July 16,099 boe, August 16,103 boe, and now a considerable drop to 12,034 boe.
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Since then the monthly figures have been:
September 12,034 boe, October 11,342 boe, November 12,001 and a forecast that "December would be similar to November"
OK so I'm a grouch, but I feel that I have been misled but caveat emptor!!
Anyone still following these ? After a dismal year they look set to start delivering on some of there key projects
Up 16% on this bullish rampwrite-up quoting Identification of two new substantial oil and gas prospects in Spain with potential for a possible total Company in-country resource base of 1 billion boe from interims:
http://brokermandaniel.com/2010/10/07/leni-gas-and-oil-spanish-buillion/
I'm not tempted - a history of missed projections and dilutive share issues in prospect completely rule it out for me.
I was tempted when it was 2.0p, thinking that sooner or later the management would do something right. I'm not sure that this is the case, but whatever, lots of people all of a sudden seem to think that the shares are worth buying.
This brokerman chap seems to have brought about a buying frenzy. How long till the next rights issue I wonder?
Jim
Seems to be alot of excitement around Leni today - up 26.9% currently. has been as high as up 37% or so. All on the basis of a blog comment, amazing.
