UK 18:15 Friday, 23 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
LGO Energy (LGO) shareholders have a habit of taking every production figure that LGO releases and reasoning their way a priori to envelope that figure within a schema of general conventional oil production far into the distant future without factoring in the overwhelming rates of depletion at the field. Essentially this is a wilful ignoring of the empirical evidence of decline. This falls squarely within Einstein's definition of insanity as making the same set of assumptions over and over again and expecting different results.
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Comments
wildrides
More Winni Maths and dubious extrapolation from the Whinning Froth . You must be getting ever more desperate as your 0 pence prediction goes ever more in the wrong direction with oil price . Take a look at TRINITY, the next door ranch to LGO in Trinidad if you want to learn about the real area depletion rates . They are much better than you infer . Infact they are good . See the TRIN RNS of 14th of March 2016 for details of their annual depletions for last year . Its a matter of experience of the operator and Ritson is learning more about the area each year .
Incidentally the LGO latest recompleted well was choked back from 240 to 80 bopd for production .
Ps the language does not sound like you ……..who was the real author of this piece ?
Duck and Dive
@TW – Oi, don’t you go calling me an LGO shareholder!
And do get your facts right about the Goudron recompletions (and note that they are recompletions and not reactivations as these are different animals).
And note that some of the 6 targeted recompletion wells have multiple pay zones, starting with GY-50, so there will be bonus production to be had at a later date from these multi-pay wells.
And do try to work out an accurate decline rate. With virtually no investment/maintenance over many months, Goudron was still producing over 400bopd this month.
And do try not to call Ritson a liar just because you can’t find any data to corroborate his claims. What you need is data (not your supposition) to prove that his claims were false. Your argument is flawed and inconclusive, amounting to little more than wishful thinking.
And by the way, oil is now selling at over $47pb. If this uptrend is maintained, LGO will be out of trouble in no time at all – which would presumably delight you almost as much as it would please WR.
And, as WR asks above, are you going to tell us who really wrote this piece for you? I bet I know the answer.
Marko Fung
This article was not written by Tom Winnifrith. Which begs the question who wrote this Tom? One thing is for certain. YOU didn’t!
Tom Winnifrith
Marko & the other Leni-cock suckers, lets not debate facts, play the man not the ball. Big dave would be proud of you…