San Leon Energy Share Discussion Threads

[eadwig] 22/3/2017 07:49

Not a single comment agreeing with that article, triple seven. $100 in 2021 maybe - or if there is a war in the middle east (where there isn't one now).

[linksdean2] 21/3/2017 17:06

correct czar..if Tosca are buying up everything for 55p knowing a bid of 80p has been touted..but knowing as we read that the brokers have a £1.20 etc..then sle is a buy as imo Nigeria has not been valued into the process..any payments made should make share price recover as it is what the market is looking for..and with Tosca in the driving seat they are the ones to make the most out of anything here..

[czar] 21/3/2017 16:52

Actually they own 60% but cannot be inside or they could not buy, perish the thought. Would be a shock if a bid came in at 130p and Tosca said they accept.

[waterloo01] 21/3/2017 16:21

As Tosca are still buying does that suggest they are not 'insiders' on a deal? Not sure how that would work as they own 50%? Any ideas.

[linksdean2] 20/3/2017 21:26

“Nigeria’;s state-owned oil company, the Nigerian National Petroleum Corp. (NNPC), has agreed with international oil companies (IOCs) to clear close to $5 billion in arrears with joint venture partners.

The financing strategy involves the IOC arm in the joint venture with NNPC being able to recover amounts owed by NNPC through revenues from incremental oil production (above agreed production levels). In the future, the federal government will no longer have to meet cash call obligations as part of costs of production in joint venture agreements, but will receive only the net revenues at the end, after all income and expenditures have been netted out (previously they were not netted out and required a transfer to the IOC at a later date).

The new framework should therefore avoid a buildup of arrears in the future.
...............................
JV Cash Call will still hold Eroton CFO Also Frank Ihekwoaba, Chief Financial Officer, Eroton Exploration and Production Company Limited, believes it is incorrect for the government to say there will be no cash call in 2017.

It is incorrect to say there will be no cash call beginning from January, 2017. There has simply been a change in the model of operation with the introduction of a base budget for which there will be cash calls and the introduction of incremental production which will be funded by the operator and paid by the government with oil.

The reason government has cash call is because it is envisaged that NNPC will get the base production oil, sell it, pay cash and deposit the residual into the treasury. From the incremental production NNPC will pay royalty and other statutory obligations, fund its operation and the residual into the treasury, he said. Ihekwoaba however believes that government has taken a positive step with a new funding model.

Regarding the growth of the industry in 2017, government has taken a positive step with the new industry funding model. What is required now is for government to review the drastic cut to operators expenditure to realistic levels as has been done in 2017 budget, he added.

panmure..

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

[linksdean2] 20/3/2017 20:53

Aiteo, Eroton, Newcross produce close to 200,000bopd
Mar 20, 2017

According to Africa Oil & Gas Report, three of the newest beneficiaries of the divestment programme of the oil majors operating in the country, independents Aiteo, Eroton and Newcross, collectively produced close to 200,000Barrels Per Day at peak, close to the end of 2016.

Aiteo Eastern E&P, the operator of the Oil Mining Lease (OML) 29, reported gross production of 92,000BOPD in October 2016, figures in NNPC’s December 2016 report show. Eroton E&P, in OML 18, averaged 63,764BOPD gross output in the same month. There were no figures published for Newcross in October 2016 and November 2016, (the last months for which figures are officially available), but the company, operator of OML 24, delivered 30,213BOPD in September 2016. These figures come to about 186,000BOPD, roughly 10% of the country’s average 2016 production.

This is however less than half of what the 22 Nigerian owned producers of crude oil and gas are capable of delivering. Indeed, the five similar Nigerian independents, including Seplat, Shoreline Natural Resources, NDWestern, Elcrest and First Hydrocarbon Nigeria, who have had up to 80% of their production shut-in for more than 12 months by the damage to the TransForcados pipeline, were collectively producing over 160,000BOPD before the bombing. Seplat and Neconde alone were averaging 115,000BOPD prior to the February 14, 2016 outage.

[linksdean2] 20/3/2017 20:24

Tosca buying most loose shares will make over 100% if a revised bid comes in as it looks 80p he laughed at by his reply in the article and the brokers prices being stated! ..another angle and the most prob for toscas continual buying imo!!

[triple seven] 20/3/2017 15:41

More then you non holding troll

[czar] 20/3/2017 15:24

Toscafund keep buying any amount that mug punters want to sell, anyone who doesn't make money here must be a total numpty.

[linksdean2] 18/3/2017 01:00

18:59 pm CST 17/03/2017

Bonny Light

55.24 +0.47%


Buhari ready to give Niger Delta people fair deal – Osinbajo

March 17, 2017

Vice-President ,Yemi Osinbajo, has said that President Muhammadu Buhari, believes that the people of the Niger Delta, deserve a fair deal.

In a statement signed by his Senior Special Assistant on Media & Publicity, Laolu Akande and sent to DAILY POST, Osinbajo said the administration was now advocating a New Vision for the people.


He made this known today at the Presidential Villa, while chairing an inter-ministerial follow-up meeting with relevant government ministries, departments and agencies involved in the Niger Delta.

“The President believes the people of the Niger Delta deserve justice, and for me also it is a very important point,” Osinbajo stated, adding that the state of the region and the suffering of the people does not reflect the fact that “it is the resource base of the country.”

Continuing he added: “in-spite of the past leadership failure, the Niger Delta people deserved a fair deal.”

Osinbajo also told the inter-ministerial team that includes Ministers and others MDA heads, that the meeting is to ensure that “we are faithful to the promises and the spirit of the presidential engagements with the people of the Niger Delta.”


In attendance at the meeting were the Niger Delta Affairs Minister, Pastor Usani Uguru Usani, Petroleum Resources Minister of State, Dr. Ibe Kachikwu and the Environment Minister of State, Alhaji Ibrahim Jubril.

Others include the Presidential Adviser on Amnesty Programme Major-General Paul Boroh, and the Managing Director of the Niger Delta Development Commission, NDDC, Mr. Nsima U. Ekere.

All the ministers and officials made presentations about the next steps in the process, especially on how to effectively meet the commitments and deliver the promises made by the Federal Government during the interactive engagement tours led by the Vice President.