I come to this board to hear relavant opinions on LFD..or used to i should say.
It seems that this board has gone down the shitter.. all i see is the same old crap from pumper taxi and maystealer.. people that argue with them etc..I'm fine with being positive on a stock but maybe the board would come alive if we had some discussions on the issues and potential of the company.
Here's my train of thought... Exxon entering Kurdistan is huge and gives a ton of credibility to the area. We still need an agreement between baghdad and the KRG before we see some real upward movement on stocks such as SNM and WZR.. companies that have already found found.
LFD is still quite risky in the fact we need to raise money in order to drill. and depending on news prior to that we'll either need a PP at these low levels which would result in substantial dilusion. I think i'd be happier with maintaining the current share count and selling off say 5% of their 40% of the block for funds to drill.. i'm sure a major would be interested in a piece of the pie with the block havin provin resources. Genel is our partner correct? and krg owns 20%? been awhile since i looked up LFD's corperate presentation and i can't find it on their new webpage.
At least we're drilling a shallow well at 2400M compared to vasts 4200 fiasco.. should be a much quicker and smoother well. and the nice thing is LFD are targeting the same reservoir that WZR hit oil on correct? where they got 9666 barrels to flow and are currently trucking 2k BPD and soon bumping it up to 5K+ by years end.
Impressive that we're listed at .10 right now.. i'm hoping management finally figures it out and gets this thing moving in the right direction. .10 is good now if they execute as i've been accumulating from .05 to .10 cents range bring my old average of .21 cents down to around .13 cents.
Personally i own about 70,000 shares so i'd love to see this thing derisk itself by announcing a spud date and getting financing cleared up.. i firmly beleive once these two things happen we'll be on our way up for quite awhile.. especially with the exxon news.. maybe chevron coming to kurdistan and the fact the KRG and baghdad seem to finally be on the same page.. once that agreement is signed if we're drilling oil and hit oil it could be a very lucrative investment for myself and everyone else invested.
On the flip side every story has potential to go wrong.. if we don't get our first exploration well started soon we could lose our lease and the KRG could find a new company for this block.. that's my biggest fear right now. I also remember hearing LFG owes the KRG some money from the aquisition of more of the property a couple years back. we're not out of the water yet..
and of course not hitting any commercial oil will have this stock in the dumpster as well. we need this first well to deliver results.. but i'm not worried about that right now. Just having the drill bit turning will have me happy and i'll make a double or triple from here as long as we do get this well spuded. We're at depressed prices because of poor management in releasing what the company is doing.. and of course the world macro situation.
lets hope for some clarity in the coming days! best of luck all i'd like to hear some people's opinions and knowledge of this company!