San Leon Energy Share Discussion Threads

[pastyman3851] 29/4/2018 14:16

any publicity is good publicity, right?

[mervin4] 29/4/2018 13:17

Thanks. So SLE are owed more than I thought because they get the $19m per qtr + 17% interest on the amount outstanding. So SLE are owed at least another $168.6m by 2020, not $115.9m.

A nice cash cow.

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chart trader2000
29 Apr '18 - 12:07 - 45138 of 45140
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As previously stated, San Leon entered into an arrangement in September 2016 with MLPL, whereby SLE would be repaid $174.5 million plus an annual coupon of 17% through to 2020. The Instrument had an inbuilt grace period as historically explained (see the Half year results announced on 29 September 2017). This grace period has now lapsed and, as announced on 03 April 2018, a payment of US$19 million was received, being the third such quarterly payment of the outstanding Loan Notes, with payments received now totalling $58.6 million. A further $168.6 million of principal and interest remains outstanding and payable, along with future interest, in similar quarterly instalments to those received to date.

[mervin4] 29/4/2018 11:53

No one is asking you to stay CC but I think $19m per quarter to SLE (at least 50% which will be returned to shareholders) and zero debt, Barryroe to be drilled next year at no cost to SLE, and Nigerian Bonny Light crude oil a $74/barrel with a resource upgrade expected on OML 18 any day now, makes it look interesting. Large shareholder Tosca will making sure they get as good a return as possible.

[mervin4] 29/4/2018 11:12

Prior to 31/3/2018, SLE had received $39.6m of loan note repayments from MLPL and SLE received another $19m announced 3/4/2018, so SLE have received a total of $58.6.

This will mean SLE are now debt free, with cash to spare for return to shareholders under their promise to return at least 50% of the remaining future cash payments to shareholders.

CASH COW.

[mervin4] 29/4/2018 10:58

SLE also get 17% interest on the principal and outstanding amounts which is a verey nice rate of return.

A nice cash cow and 50% due to be returned to shareholders..

[czar] 28/4/2018 19:06

Mervin, yes the brokers reckon about £30m over the next year for a yield of circa 25%. This should grow strongly over future years as the oil revenues kick in.

[mervin4] 28/4/2018 15:25

Are they planning to return part of the quartlerly cash payments to shareholders?

[mervin4] 28/4/2018 15:24

Are they planning to return paret of the quartlerly cash payments to shareholders?