San Leon Energy Share Discussion Threads

[stockriser] 25/4/2017 12:53

RNS Number : 2694D

San Leon Energy PLC

25 April 2017

25 April 2017

San Leon Energy plc

("San Leon" or the "Company")

Toscafund Asset Management LLP - Appointment of Financial Adviser

San Leon has been informed that Toscafund Asset Management LLP ("Toscafund"), which holds 59.52% of the issued share capital of San Leon, has informed the Company that it has appointed Hannam & Partners ("H&P") to conduct a review of the strategic options available to Toscafund. It understands that H&P has initiated an exercise to educate a small number of parties on the key assets and valuation of San Leon. This exercise had been conducted independently of SLE's board, management and advisers and was initiated more than three months after SLE's approach announcement.

Martin Hughes, Chief Executive Officer of Toscafund, commented: "Toscafund remains supportive of San Leon Energy and its management team. We understand that discussions continue between the board of San Leon and potential offerors and continue to encourage these discussions. This appointment is a function of Toscafund's ongoing commitment to securing optimal value for all shareholders of San Leon."

Oisin Fanning, Chief Executive Officer of San Leon, commented: "We note and welcome the involvement of Hannam & Partners as financial advisor to Toscafund."

Edit : Beat me to it!

[triple seven] 25/4/2017 07:43

He's just a total head case.Our resident troll is.. ho dear ho dear

[linksdean2] 24/4/2017 21:47

that's your consequence!!..ha haa your just screwed in the head fick fock!..diddums!

[linksdean2] 24/4/2017 21:11

hxxp://nigeriannewsdirect.com/we-need-to-step-up-exploration-nape-president/

Oil is a finite resource. It can finish. If you don’t keep up with finding, it may run out. The amount we spend on new exploration is not giving us enough discoveries. So, we need to step up on exploration and we find new oil, that means when the lifeline is assured. So, it’s very important that we continue to explore.

Has oil exploration worn out in the Niger Delta?

Well, the reserves have been depleted. I can’t give you the figure because I don’t have it. You know Shale Oil that they have in the USA. We have not started exploring ours. Some of them are available in Niger Delta especially the edges of the Niger Delta. So, as you produce, you must replace. If new ideas come, some of the places you have explored before you might go back there and find more oil. That’s why there has to be some investments in research and development as well.


Is there any challenge accessing the Nigerian Content Fund (NCF)?

There is no problem accessing that fund. It is just that there are some measures that need to be put in place. There are certain key aspects that must be put in place before you begin to give out money. But the most important aspect is that you have to have a sort of guarantee. The Executive Secretary of NCDMB has already said that is going to happen very soon.

How many indigenous firms have accessed the fund?

Nobody has accessed it. It is about $600 million and they are just about to start.

[linksdean2] 24/4/2017 20:52

ha haa! consequences