LEKOIL is an Africa focused oil and gas exploration and production company with interests in Nigeria and Namibia. The Company was founded in 2010 by a group of leading professionals with extensive experience in the international upstream oil and gas industry as well as in global fund management and investment banking.
#LEK #LEKOIL
I got caught by the fraud. Lost 70% from 5 days of buying 
Sorry to read you got caught up in that, I remember that story:
I knew I recognised the name. That’s enough for me to think management is incompetent.
Unbelievable. I’ve never heard of it happening before. So absurd. Where was due diligence? They got someone with dementia running it?
Sorry to hear that Ben that truly tests the patience of any investor. In the end it was a risky move on an unknown quantity resulting in the unluckiest of entry points by no fault of your own. And I agree… where was due diligence!
The firm was a big victim of fraud & guilty parties have been arrested since this time. As a consequence of this recent historic happenstance - Lekoil’s share price remains at 70% below the minimum valuation, with max val potential far exceeding this, which now offers minimum risk for maximum gain.
What you think?
Maybe there is a gain in there. Unsurprisingly I dont feel like averaging down as my solution. I’m just leaving it.
Its these kind of rare situations where you feel compensation should be due. But who would pay it. There is no one. It’s another good reminder that you should always diversify even if everything you’ve seen and done feels right. I’m up around 8% this year on my pension fund despite the loss. But it’s taken the shine off 2020 for sure!