San Leon Energy Share Discussion Threads

[witheco] 13/1/2017 23:34

LSD will your standard of living be affected when SLE gets taken private, or wound up?I remeber stephen54321, once telling everybody he put his mortgage deposit against it, when it was something like £7 or £8. That must have been a tough one to swallow....Anyway, hope what you get back should be just enough to take Mrs LSD out for valentines as long as she's buying the drinks.

[o1lman] 13/1/2017 18:38

potentially using production barrels to settle debts. Should this apply to Eroton

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two parts to concentrate on there, potentially and production barrels, the company has to pay NNPC the same amount actually more because they have increased the royalties paid and take the amount owed from any increased production, not going to happen before April is it, tick tock, tick tock.

[o1lman] 13/1/2017 18:36

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Nigerian govt., oil workers agree on new funding model for joint venture projects
July 14, 2016
The Nigerian National Petroleum Company (NNPC) on Friday signed an agreement to exit the Joint Venture Cash Call (JVC) with some international oil companies.
The agreement was signed in Abuja at the Ministry of Petroleum Resources between the Federal Government and Shell, Chevron, Agip, Total, Oando.
Nigeria owes an estimated $6.8 billion accumulated over 14 years but got a discount of $1.7 billion, leaving a debt of $5.1 billion to be repaid.
The Minister had, at another forum, explained that the agreement stated that the payment from incremental oil production would not affect Nigeria’s budget production benchmark of 2.2 million barrels per day (mbpd).
The Minister of State for Petroleum, Ibe Kachikwu, who signed on behalf of the Federal Government, expressed joy that the signage would bring more investments into the country.
He said lots of work and political determination had gone into the nation’s exit from the JVC debt.
”If we continue to focus on things that haven’t worked in a long while, we’ll get this industry on its way to competing favorably with other counterparts.
”I challenge the oil companies to put their monies where their mouth is because they said once this is done investments would begin to come into the country.
”I must also appreciate President Muhammadu Buhari for supporting the effort and for his willingness to steer the cause,” Mr. Kachikwu said.
Maikanti Baru, Group Managing Director of the NNPC, said the agreement was aimed at addressing long standing issues of unpaid cash call arrears, under-funding the joint venture and the burden of monthly payments by the Nigerian government.
He said inability of the NNPC to regain technical costs had been a major reason for the accumulation of the arrears over time.
Mr. Baru said under the new funding model, government would continue to receive royalties, taxes and profit from its equity share of Joint Venture oil and gas production.

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there aren't going to be any payments.

[o1lman] 13/1/2017 18:35

the 1Q17 payment wasn't made, so guess it didn't take long to for Panmure to be proved wrong.

[o1lman] 13/1/2017 15:22

he 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

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the company failed to mention it's not going to occur, oh dear.

[o1lman] 13/1/2017 15:21

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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all u need to know if u want to trade here, the rest is jam tomorrow boll*x.