San Leon Energy Share Discussion Threads

[1historyman] 18/12/2018 15:01

“Sweet creature!” said the Spider, “you’re witty and you’re wise,
How handsome are your gauzy wings, how brilliant are your eyes!
I’ve a little looking-glass upon my parlour shelf,
If you’ll step in one moment, dear, you shall behold yourself.”
“I thank you, gentle sir,” she said, “for what you’re pleased to say,
And bidding you good morning now, I’ll call another day.”

[1historyman] 18/12/2018 13:36

OIL PRICES FALL SHARPLY ON OVERSUPPLY WORRIES

Indications that the global growth is slowing down weighed on crude prices on Tuesday, even after major oil producers announced plans to pull back on the oil supply to the market, reports the Journal's Christopher Alessi.

Brent crude, the global oil benchmark, was down 3% at $57.80 a barrel on London's Intercontinental Exchange. West Texas Intermediate futures, the U.S. standard, were down 3.3% at $48.24 a barrel on the New York Mercantile Exchange.

Both benchmarks have fallen roughly 35% from four-year highs reached at the start of October and are at their lowest levels in more than a year.

[1historyman] 18/12/2018 13:09

Midwestern Purchase of San Leon Shares From SunTrust
On 1 October 2018, the Company announced that Midwestern had entered into a binding agreement with SunTrust to acquire SunTrust's entire remaining holding in San Leon, being 71,487,179 ordinary shares (representing 14.29 % of the issued ordinary shares of the Company). As of that date 47,243,590 ordinary shares in San Leon (representing 9.44% of issued ordinary shares) had already been transferred to Midwestern. The Company has been informed by Midwestern that the subsequent balance is expected to be transferred in the near term, with a target date of completing the transfer by mid January 2019.

<<<<<<<<<<<<<<<<br />

when/if the share buyback starts, which won't be in January, well not January 2019, I wonder if Midwestern will be the first to sell ? guess that will depend on how desperate they are for cash, which in turn will depend on the price of oil. GL

[1historyman] 18/12/2018 12:51

14 Sep '17 - 19:54 - 33844 of 34738
0 1 0
SkullBone
Posts: 3
Answer
Opinion: No Opinion
Price: 34.4146
RE: ScullBoneToday 13:35Hi frus I am not having a go. I too have been invested for years and need £2.5 to break even so yes 1 wouldn't be good for me neither.. I too have gone through the consolidation of 100:1.... I have also average down to get to £2.5ish.. which is a high risk game...

I can see why you are angry about this share... I am too.. time is the biggest killer of profits in the end as our money could have been increasing in value with something else.

.............

oh dear dean. 2.50 or 2.50ish whatever that is ? to break even.

[1historyman] 18/12/2018 12:41

Dean, it's only the return of TOSCA's money, it's not profit. it's TOSCA's money they are using, oh dear. In fact it appears it's only TOSCA's money that is keeping the consortium going, with oil under 60 u$ they may need to chip in some more sooner than later.

[1historyman] 18/12/2018 09:31

The High Court sits each day during term at the Four Courts, Dublin (civil) and at the Criminal Courts of Justice, Dublin (criminal).


2018
Michaelmas sittings: 1 October - 21 December


2019
Hilary sittings: 11 January - 12 April


………;……..

oh dear.

[1historyman] 18/12/2018 09:23

bluerill
Posts: 153
Opinion:
No Opinion
Price:
23.50
well, they're getting there
Today 07:25
Never anything simple with San Leon, and so has taken longer than I had imagined, but with a court application in the next couple of weeks and a roughly 2 week period required to 'advertise' its intentions, the Company should be able to commence a capital return by Jan month, followed relatively soon after by an update on the rec

[1historyman] 13/12/2018 21:37

Said the cunning Spider to the Fly, “Dear friend what can I do,
To prove the warm affection I’ve always felt for you?
I have within my pantry, good store of all that’s nice;
I’m sure you’re very welcome–will you please to take a slice?”
“Oh no, no,” said the little Fly, “kind sir, that cannot be,
I’ve heard what’s in your pantry, and I do not wish to see!”

[1historyman] 13/12/2018 19:15

“I’m sure you must be weary, dear, with soaring up so high;
Will you rest upon my little bed?” said the Spider to the Fly.
“There are pretty curtains drawn around; the sheets are fine and thin,
And if you like to rest awhile, I’ll snugly tuck you in!”
“Oh no, no,” said the little Fly, “for I’ve often heard it said,
They never, never wake again, who sleep upon your bed!”

[1historyman] 13/12/2018 16:19

Will you walk into my parlour?” said the Spider to the Fly,
“‘Tis the prettiest little parlour that ever you did spy;
The way into my parlour is up a winding stair,
And I’ve a many curious things to shew when you are there.”
“Oh no, no,” said the little Fly, “to ask me is in vain,
For who goes up your winding stair can ne’er come down again.”

[1historyman] 13/12/2018 16:17

Dean, Sun never appeared on the share register until this year, that fact must have slipped by the BOD's, easy mistake to make.
If u are alleging that their nominee companies never paid cash for their shares then SLE never raised the amount of the placing they stated. u should be careful what u allege.

[1historyman] 13/12/2018 14:49

Alas, alas! how very soon this silly little Fly,
Hearing his wily, flattering words, came slowly flitting by;
With buzzing wings she hung aloft, then near and nearer drew,
Thinking only of her brilliant eyes, and green and purple hue–
Thinking only of her crested head–poor foolish thing! At last,
Up jumped the cunning Spider, and fiercely held her fast.
He dragged her up his winding stair, into his dismal den,
Within his little parlour–but she ne’er came out again!

And now dear little children, who may this story read,
To idle, silly flattering words, I pray you ne’er give heed:
Unto an evil counsellor, close heart and ear and eye,
And take a lesson from this tale, of the Spider and the Fly.

The Spider and the Fly

by Mary Howitt

[1historyman] 13/12/2018 14:49

linksdean - 09 Nov 2013 - 13:00:29 - 11962 of 38313
what a load of balloni this ct sprouts..sle have 6.5bcf that is worth $65million,they have an additional 45bcf on a 2P which they will be reworking to bring it to a 1P..so again worth $$millions..they also have 450BCF that again awaits testing etc..they are to start the discovery wells/appraisals soon if not already doing..the 11km pipeline that is going to increase the already producing 250mcfd to 10mmcfd 40x at $10pmcf..they have 2 gas plants that are again in production which will be increased massively giving sle huge revenues just from this without all the rest..then there is the oil wells and the other 10 or so licences sle are waiting on..how much gas and oil is there?????.. this is a brilliant play for sle which will give them the revenues to use in Poland for the up and coming drills in nowa sol etc etc...this deal really shows the deal making skills of the sle BoD..make no bones about it they have their guys there now working with the Alpay guys to make this work..alpay have the rigs/workover equipment/workforce (experienced at that) worked on GKP shailken well(billion barrel prospect)..this is gunna work..and turkey will be the henry hub of Europe..there are plans a foot for the new pipeline..these guys in charge are defo no shmuks!!!

[1historyman] 13/12/2018 14:22

Davidson Iriekpen
A Federal High Court in Lagos has fixed February 6, 2019 to hear of all pending applications and the winding up petition filed by an indigenous oil company, Suntrust Oil Company Limited against an Irish company with business interests in Nigeria, San Leon Energy Plc.

The court, presided over by Justice Sule Hassan, arrived at the following the collapse of the out-of-court-settlement at the instance of the respondent, San Leon Energy Plc.
Trouble stated on March 14, 2018, when Suntrust commenced winding up proceedings against San Leon. In the winding up petition with suit number FHC/L/CP/402/2018, Suntrust sought the winding up of San Leon on the grounds of insolvency, alleging San Leon’s inability to pay a debt of US$53,839,129 owed to Suntrust.
The petition debt arose from Suntrust’s sale of 1,642,857 shares in Martwestern Energy Limited to Midwestern Leon Petroleum Limited (an affiliate of San Leon) in June 2016.
San Leon took the shares but failed to pay, choosing instead to play games and have something for nothing.
Instead of paying the debt in response to the winding up petition, San Leon challenged the jurisdiction of the Nigerian court to wind it up, contending that Nigerian court has no jurisdiction to wind up foreign companies and therefore no jurisdiction to wind it up as an Irish company.
This was in spite of the fact that the petition debt is clearly undisputed.
San Leon raised a cloud of spurious objections as most companies facing a winding up petition do.
Between July and early October 2018, Suntrust and San Leon and other interested parties explored out-of-court-settlement and the winding up proceedings were adjourned.
While some progress was made, San Leon and its affiliates could not perform their own side of the bargain.
This made Suntrust to resume the litigation.
To this end, on December 3 2018, the Federal High Court scheduled 6 February 2019 for the hearing of all pending applications and the winding up petition.

………;…..

dean, maybe u think that a winding up order is the same as a wind up. oh dear

[1historyman] 13/12/2018 14:19

links or should that be dean ?

talltrees1 - 09 Oct 2018 - 18:59:13 - 46101 of 46368
San Leon Energy - SLE
Looks like Sun Trust have dropped their court case against SLE as it is not on their website now.

………;…….

good to see that links has maintained his 100% record, that is of being wrong.

[1historyman] 13/12/2018 13:41

how's is the share buyback progressing, u know the one u posted would start by the end of November ? oh dear, oh dear.