2924 days ago
At a place called Goudron, deep in the rain forests of Trinidad, a wonderful charity has been created that many in the UK will never have heard of. The Goudron Nodding Donkey Sanctuary. Goudron NDS currently provides a home for 96 previously neglected nodding donkeys and is looking to adopt more. They are currently raising money for a program to adopt 6 additional donkeys and are also working on an ambitious project to raise $9 million which will enable them to adopt a further 20 donkeys later this year.
2958 days ago
LGO has been flagging that this would happen for months but now that the royalty rates on Goudron have been cut, Neil Ritson is announcing the news as if it was the second coming of Jesus. It is not. For starters Jesus would struggle to find three wise men and a virgin to welcome him at any company associated with David Lenigas. This company is still screwed and more confetti issues are ineviable ahead of its next formal debt repayment default in May.
2968 days ago
Five days ago we revealed that David Lenigas himself was trying to arrange a £5 million bailout placing for insolvent LGO Energy (LGO) which would see Jabba go back on the board and hapless CEO Neil Ritson pushed into the long grass a couple of months later. We have emails from broker Dowgate to potential investors explaining Jabba's plans and saying that the placing would close well before the end of last week. There has been no RNS. Clearly - and not surprisingly - the placement is struggling big time and so LGO has today released ramptastic bollocks from Goudron to try to spoof punters into backing the bailout.
3029 days ago
LGO Energy (LGO) has all sorts of problems. It is almost out of cash, it is burning cash, it is drowning in debt and it has a management credibility issue. But its real problem? Its assets in Trinidad are shite. The company has never come clean on how rapidly new wells go into decline but here is the raw data and it is pretty terrifying. It is based on RNS releases for each of its Goudron wells.
