San Leon Energy Share Discussion Threads

[o1lman] 06/1/2017 13:22

I remain confident a 1Q17 distribution from Eroton is still likely

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guess he was wrong then.

[o1lman] 06/1/2017 13:21

The following conditions are yet to be satisfied:

(iv) reservation of nine months' worth of upcoming debt repayments due in the debt service reserve account; and

(v) submission of audited financial statements by Eroton whereby 60 per cent. of audited net profits can be paid to dividends account.

The Company has been informed by Eroton that the timing for the satisfaction of these conditions is also influenced by the receipt by Eroton of the outstanding balance of historic cash calls from the Nigerian National Petroleum Corporation ("NNPC"), which was expected during 2016 but has yet to occur. Only once all the RBL debt service reserve account conditions have been fulfilled will Eroton be in a position to complete its audited financial statements for the year ended 31 December 2016, whereupon the Eroton Board will be in a position to declare and pay dividend(s) to its shareholders.


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maybe the reason u deleted the above from the SLE RNS was that u had used up all your words for today, oh dear.

[linksdean2] 06/1/2017 13:07

moany stench..San Leon has been working, and continues to work, with Eroton to explore other interim mechanisms to enable cash distributions to be made to San Leon,

Panmure Gordon

Whilst investors will disappointed that the lack of NNPC payments is holding up distributions from Eroton, the fact that this is the only main issue is mildly encouraging and the Nigerian government has been relatively vocal about their intentions to clear debts with partners in general, potentially using production barrels to settle debts. Should this apply to Eroton the strength of the oil price and higher production levels from the field could speed up the repayment process. I remain confident a 1Q17 distribution from Eroton is still likely

[o1lman] 06/1/2017 12:40

Eroton of the outstanding balance of historic cash calls from the Nigerian National Petroleum Corporation ("NNPC"), which was expected during 2016 but has yet to occur.

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they are not going to occur, only eleven weeks until the next payment is due/overdue, will they default on the loan ? tick tock.

[o1lman] 06/1/2017 12:32

The following conditions are yet to be satisfied:

(iv) reservation of nine months' worth of upcoming debt repayments due in the debt service reserve account; and

(v) submission of audited financial statements by Eroton whereby 60 per cent. of audited net profits can be paid to dividends account.

The Company has been informed by Eroton that the timing for the satisfaction of these conditions is also influenced by the receipt by Eroton of the outstanding balance of historic cash calls from the Nigerian National Petroleum Corporation ("NNPC"), which was expected during 2016 but has yet to occur. Only once all the RBL debt service reserve account conditions have been fulfilled will Eroton be in a position to complete its audited financial statements for the year ended 31 December 2016, whereupon the Eroton Board will be in a position to declare and pay dividend(s) to its shareholders.

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as always with SLE, pay close attention to what is omitted tells u all u need to know about the true situation, otherwise it's all just the normal boll*cks.

[o1lman] 06/1/2017 11:58

o1lman5 Jan '17 - 12:23 - 29472 of 29511 1 0 Edit
Eroton

oil production in April


daily average production 47,173 barrels % of total production 2.34%


production in May

daily average production 11,111 barrels % of total production 0.66%

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either it's that disconnect from what u read and what reaches the brain or u need to book an appointment at Specsavers.

[o1lman] 06/1/2017 07:32

Shell shuts African pipelineCOMPANIES / 6 January 2017, 08:46am
Elisha Bala-Gbogbo and Paul Burkhardt

Fire burns on the Shell Petroleum Development Company Trans Niger pipeline at Mogho

Abuja - Royal Dutch Shell shut the Trans Niger oil pipeline after a fire, threatening to worsen a drop in Nigerian output due to unplanned disruptions.

The line can transport about 180 000 barrels a day to the Bonny Export Terminal in the Niger Delta was halted Tuesday due to a blaze at Kpor in Ogoniland, Precious Okolobo, a company spokesman in Lagos, said Thursday by phone.

Shell declined to comment on the impact on production.



Nigeria’s daily output dropped by 200 000 barrels to 1.45 million in December, ending three months of gains as the African nation struggled to restore capacity after a year of militant attacks on oil infrastructure.

Production fell to 1.39 million barrels in August, the lowest level since 1988, according to data compiled by Bloomberg.


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oh dear. chickens coming home to roost, or should that be turkeys ?

[o1lman] 05/1/2017 20:02

yep, it may have bypassed u in the haze u live in it's now 2017 and the post was from 1inksdean, oh dear.
I understand why no one wants to be linksdean, I wouldn't want to, the same as u.

[o1lman] 05/1/2017 18:08

let's try this, I can't make it any simpler for u.

I still post here, linksdean doesn't.

[witheco] 05/1/2017 16:17

Dont know about that, but the 'SLE Story' could have been co-authored as a novel by Franz Kafka and Lewis Caroll,

[o1lman] 05/1/2017 16:16

who is JP ? do u know him from the job centre ?

[o1lman] 05/1/2017 15:59

no TOSCA yet today, what's going on ?