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Share Name Share Symbol Market Type Share ISIN Share Description
San Leon LSE:SLE London Ordinary Share IE00BWVFTP56 ORD EUR0.01
  Price Change % Change Share Price Shares Traded Last Trade
  -0.80p -1.94% 40.40p 76,287 09:25:56
Bid Price Offer Price High Price Low Price Open Price
40.50p 41.00p 40.90p 40.00p 40.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.29 -63.39 -14.38 202.1

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Date Time Title Posts
22/3/201910:03San Leon Energy46,938
04/12/201816:10San Leon home of the moron635
23/10/201818:47San Leon Energy - The New Positive Thread34,738
02/12/201712:12San Leon618
01/12/201723:46san leon energy51

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San Leon (SLE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
09:26:0840.771,560636.05O
09:10:5640.7510,0004,075.00O
08:44:1240.405,0002,020.00AT
08:44:1240.4010,0004,040.00AT
08:34:0940.9010,0004,090.00AT
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San Leon (SLE) Top Chat Posts

DateSubject
22/3/2019
08:20
San Leon Daily Update: San Leon is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SLE. The last closing price for San Leon was 41.20p.
San Leon has a 4 week average price of 34p and a 12 week average price of 25p.
The 1 year high share price is 43.40p while the 1 year low share price is currently 20.50p.
There are currently 500,256,857 shares in issue and the average daily traded volume is 283,869 shares. The market capitalisation of San Leon is £202,103,770.23.
26/2/2019
17:38
talltrees1: informative post this. 20/2/19 San Leon Energy - A return of capital worth waiting for… Good morning. please find attached an RNS released by the Company this morning and some commentary below intended to try and outline some of the nuances surrounding it. This is neither research nor independent as both Brandon Hill Capital and myself have had a beneficial interest in the shares of the Company for a number of years. Nor is it advice to accept or reject the terms of the proposed Tender Offer. The News San Leon Energy (SLE LN) have today advised they are to undertake a buy back of up to 50,475,000 ordinary shares, by way of a Tender Offer of US$30M, at a price of 46p per share, being a circa 50% premium to yesterday’s close of 30.6p. The pricing of the Tender Offer coincides with the substantial capital raise the Company undertook in 2016, when acquiring its indirect interest in OML 18 (Nigeria), at a price 45p per share. The Tender Offer will remain open until 20 March 2019. Any shares purchased by SLE will subsequently be cancelled. Given there are circa 500.3M shares in issue, in the event the full 50,475,000 are purchased by SLE then the number of shares will be reduced by circa 10% to circa 450M. The Current Source of the Cash SLE has been advising shareholders for some time that it would seek to return distributable cash resources following its entry into Nigeria. The Company has regularly advised the source of these streams would be as follows: The repayment of MLPL Loan Notes Dividends from oil production in OML 18 Master services agreement to provide rig-based services on OML 18 To date it has primarily been the Loan Note repayments which have boosted the Company’s coffers. Whilst SLE had a number of sizeable creditors post the OML transaction, leading to some tumultuous times in 2017 as it awaited the commencement of payment under the Loan Notes (reflected in the weakening share price), last year SLE confirmed all material liabilities had been cleared. This is unsurprising given reaffirmation in today’s announcement that to date it has received payments of US$108.8M under the Loan Notes. Our best guess based on historical reports is that SLE now has a net cash balance of circa US$50M (prior to Tender Offer) and accordingly the decision to move from a standard share buyback of US$10M to a Tender Offer of US$30M seems eminently sensible and financeable. Perhaps even more so given the Company confirmed it is still owed a further US$167.1M under the MLPL Loan Note repayments. This outstanding balance is to be paid quarterly and in full by October 2020, we understand with a balancing bullet payment at the end. Given Loan Note repayments have been taking place on a regular basis since 2017, investors should feel comfortable these outstanding amounts will also be paid when they fall due. If you apply an annualised 10% discount rate to the US$167.1M this equates to circa US$150M. If you also assume a 100% take up of the Tender Offer and therefore reduce cash by $30M, the revised cash ($20M) and discounted future cashflow ($150M) equates $170M. At current exchange rates this equates to circa £131M. Taking the reduced shares in issue into account, at 46p, SLE will have a market cap of £207M, leaving a valuation of circa £76M for the remainder of the portfolio. The Future Source of the Cash Moving briefly to the additional assets, as outlined in the RNS, SLE have an indirect economic interest of 10.584% in the OML 18 field Nigeria, which as per accounts released 25 Sep 2018 was producing at a rate of 46,086bopd. The operator is currently planning to construct a pipeline to remove pipeline losses being applied to this figure and also confirmed in December 2018 it had spudded a new development well (due for completion this month) to further boost production. An announcement last month of the refinancing of the Reserves Based Lending Facility should provide yet more cash for the operator to deploy in field work and a subsequent boost in production numbers and ultimately inaugural dividends to San Leon from oil revenues. In addition, SLE has the right to provide all rig-based services on the licence, which we believe could provide further significant revenues to the Company. Outside of Nigeria, SLE’s other key asset is the 4.5% NPI across the Barryroe field, offshore Ireland. This licence is due to have a fully-funded multi-well work program carried out, with operations commencing in Q3 2019. It brings with it the potential for a fast track to production and gross contingent resources on the field stand of 345MMbbl with additional upside potential. Clearly a successful drill campaign and early production will boost SLE’s revenue stream further. The Parting Comment The above has assumed a full take up of the Tender Offer, however it is worth considering the likelihood of this. The Company has a number of long-term shareholders, many of whom invested back in 2016 at the 45p level. Whilst markets and sentiment change, it is clear that San Leon is now on the strongest financial footing it has been since its inception. Many investors no doubt subscribed for shares given the potential of cashflow coming from production on OML 18 and associated services. As outlined above, these two appear closer to materialising than at any time previously. Clearly if the Tender Offer is not fully subscribed then the Company’s cash balance would strengthen. Coupled with the balance of the Loan Note repayments and alternate revenue streams coming on line, this in turn may well heighten the probability of further buybacks/dividends/tender offers – as the Company alludes to in this morning’s RNS. If the free float diminishes and longer-term holders remain, it might well lead to further price advances on subsequent news.
23/2/2019
08:55
1historyman: 09 May 2014 - 06:50:32 - 21293 of 46618 San Leon Energy - SLE It may be that some investors want only good news. They are happy to buy shares on the basis of carefully spun press releases and buy notes from Edison paid for by the company plus a bullish story planted in the newspaper by a PR person. If that is how you wish to invest that is your decision but I think it unwise. I would have thought it more sensible to read all the good news PR but then also to read some rather more critical comment before investing your money. Ultimately it is YOUR decision as to what stocks you buy and hold but is it not better that you consider both the bull case and the bear case first? For every stock just as there are buyers there will be sellers. There are some who think the shares are cheap and others who think they are expensive. That is what makes a market and it is how one should view journalistic comment. I see that in some quarters I am blamed for the slump in the share price of this and that stock. It is flattering but I really cannot take the credit. If I articulate a bear case well it may move a share price a bit and for a few days but in the long run I cannot fight the market. The company will respond with its PR puffery and that may also influence the share price but in the end neither my bearish articles nor the PR puffery will determine the share price. In the end that is a function of a company’s ability to generate cash from operations (something that has never been the forte of QPP, Iofina, Globo, blinkx, Sefton and Range). The fact that some of those stocks have collapsed in value is because what I predicted actually came true. It is the company itself which created the major de-rating not me. Share Prophets
20/2/2019
09:59
talltrees1: take a look at this from links ii 20/2/19 San Leon Energy - A return of capital worth waiting for… Good morning. Given your (historic) interest in San Leon Energy (SLE) please find attached an RNS released by the Company this morning and some commentary below intended to try and outline some of the nuances surrounding it. This is neither research nor independent as both Brandon Hill Capital and myself have had a beneficial interest in the shares of the Company for a number of years. Nor is it advice to accept or reject the terms of the proposed Tender Offer. The News San Leon Energy (SLE LN) have today advised they are to undertake a buy back of up to 50,475,000 ordinary shares, by way of a Tender Offer of US$30M, at a price of 46p per share, being a circa 50% premium to yesterday’s close of 30.6p. The pricing of the Tender Offer coincides with the substantial capital raise the Company undertook in 2016, when acquiring its indirect interest in OML 18 (Nigeria), at a price 45p per share. The Tender Offer will remain open until 20 March 2019. Any shares purchased by SLE will subsequently be cancelled. Given there are circa 500.3M shares in issue, in the event the full 50,475,000 are purchased by SLE then the number of shares will be reduced by circa 10% to circa 450M. The Current Source of the Cash SLE has been advising shareholders for some time that it would seek to return distributable cash resources following its entry into Nigeria. The Company has regularly advised the source of these streams would be as follows: The repayment of MLPL Loan Notes Dividends from oil production in OML 18 Master services agreement to provide rig-based services on OML 18 To date it has primarily been the Loan Note repayments which have boosted the Company’s coffers. Whilst SLE had a number of sizeable creditors post the OML transaction, leading to some tumultuous times in 2017 as it awaited the commencement of payment under the Loan Notes (reflected in the weakening share price), last year SLE confirmed all material liabilities had been cleared. This is unsurprising given reaffirmation in today’s announcement that to date it has received payments of US$108.8M under the Loan Notes. Our best guess based on historical reports is that SLE now has a net cash balance of circa US$50M (prior to Tender Offer) and accordingly the decision to move from a standard share buyback of US$10M to a Tender Offer of US$30M seems eminently sensible and financeable. Perhaps even more so given the Company confirmed it is still owed a further US$167.1M under the MLPL Loan Note repayments. This outstanding balance is to be paid quarterly and in full by October 2020, we understand with a balancing bullet payment at the end. Given Loan Note repayments have been taking place on a regular basis since 2017, investors should feel comfortable these outstanding amounts will also be paid when they fall due. If you apply an annualised 10% discount rate to the US$167.1M this equates to circa US$150M. If you also assume a 100% take up of the Tender Offer and therefore reduce cash by $30M, the revised cash ($20M) and discounted future cashflow ($150M) equates $170M. At current exchange rates this equates to circa £131M. Taking the reduced shares in issue into account, at 46p, SLE will have a market cap of £207M, leaving a valuation of circa £76M for the remainder of the portfolio. The Future Source of the Cash Moving briefly to the additional assets, as outlined in the RNS, SLE have an indirect economic interest of 10.584% in the OML 18 field Nigeria, which as per accounts released 25 Sep 2018 was producing at a rate of 46,086bopd. The operator is currently planning to construct a pipeline to remove pipeline losses being applied to this figure and also confirmed in December 2018 it had spudded a new development well (due for completion this month) to further boost production. An announcement last month of the refinancing of the Reserves Based Lending Facility should provide yet more cash for the operator to deploy in field work and a subsequent boost in production numbers and ultimately inaugural dividends to San Leon from oil revenues. In addition, SLE has the right to provide all rig-based services on the licence, which we believe could provide further significant revenues to the Company. Outside of Nigeria, SLE’s other key asset is the 4.5% NPI across the Barryroe field, offshore Ireland. This licence is due to have a fully-funded multi-well work program carried out, with operations commencing in Q3 2019. It brings with it the potential for a fast track to production and gross contingent resources on the field stand of 345MMbbl with additional upside potential. Clearly a successful drill campaign and early production will boost SLE’s revenue stream further. The Parting Comment The above has assumed a full take up of the Tender Offer, however it is worth considering the likelihood of this. The Company has a number of long-term shareholders, many of whom invested back in 2016 at the 45p level. Whilst markets and sentiment change, it is clear that San Leon is now on the strongest financial footing it has been since its inception. Many investors no doubt subscribed for shares given the potential of cashflow coming from production on OML 18 and associated services. As outlined above, these two appear closer to materialising than at any time previously. Clearly if the Tender Offer is not fully subscribed then the Company’s cash balance would strengthen. Coupled with the balance of the Loan Note repayments and alternate revenue streams coming on line, this in turn may well heighten the probability of further buybacks/dividends/tender offers – as the Company alludes to in this morning’s RNS. If the free float diminishes and longer-term holders remain, it might well lead to further price advances on subsequent news.
01/10/2018
16:18
chart trader2000: This probably makes a reverse-merger deal with Eroton more likely now as it clearly lowers the cost to midwestern/eroton to do a deal at a higher SLE share price than they might have considered previously. Hopefully, negotiations between the parties continue. bluerill BlackSwan Posts: 826 Opinion: Buy Price: 26.50 RE: Midwestern Significant ShareholderToday 08:36bluerill - Good post - Sun Trust gone - agree with the last two paragraphs of your post - insider strategic and reverse take over. ................. such a shame linksdean will be wiped out after all he's kept me amused for years with his predictions of untold riches, always just out of reach.
01/10/2018
14:36
chart trader2000: This probably makes a reverse-merger deal with Eroton more likely now as it clearly lowers the cost to midwestern/eroton to do a deal at a higher SLE share price than they might have considered previously. Hopefully, negotiations between the parties continue. bluerill BlackSwan Posts: 826 Opinion: Buy Price: 26.50 RE: Midwestern Significant ShareholderToday 08:36bluerill - Good post - Sun Trust gone - agree with the last two paragraphs of your post - insider strategic and reverse take over. ................ very bad news for linksdean, no wonder he doesn't post here any more.
01/10/2018
14:06
chart trader2000: This probably makes a reverse-merger deal with Eroton more likely now as it clearly lowers the cost to midwestern/eroton to do a deal at a higher SLE share price than they might have considered previously. Hopefully, negotiations between the parties continue. bluerill very bad news for the LTH's if bluerill is correct but very good news for any new buyers, of course only if he's correct.
01/10/2018
13:55
chart trader2000: the bull case. This probably makes a reverse-merger deal with Eroton more likely now as it clearly lowers the cost to midwestern/eroton to do a deal at a higher SLE share price than they might have considered previously. Hopefully, negotiations between the parties continue. (very bad news for the LTH's if bluerill is correct) bluerill the bear case. Eroton have no meaningful free cash flow and will not for many a year. Midwestern have traded an asset for shares in SLE, as a SLE shareholder assets have left the consortium but SLE shareholdings are exactly the same but with different shareholder names. With the reduced stake in Umusadege will they be able to borrow more money to pay SLE ? Onajite Okoloko has sold shares in one asset Notore Chemicals and has traded a non quoted asset for a quoted asset, what is his intention ? guess that depends on how much cash or how little cash he has access to. Now if SLE were planning to buy back shares, what a wonderful opportunity it would be for someone who needs to raise cash. GL
30/5/2018
13:33
chart trader2000: BlackSwanToday 11:17 Above all the news that SLE share price stays magically above UKP 0.25 amazing - is the market protecting its own remember when certain "market people"were compensated/paid with 0.25p shares or is this the value to the company of renting out OF apartment - come on SLE valuation as expressed on the market is really something to behold.
19/1/2018
08:56
chart trader2000: WHAT INFLUENCES A SHARE PRICE Share prices can be affected by a wide variety of issues but the two principal factors are the performance of the company that has issued the shares and the wider environment. Listed companies publish their financial results twice a year. They provide trading updates twice a year as well. These figures and statements give the investment community an insight into a company’s performance. Companies are also obliged to publicly notify any event that could influence their share price, such as a takeover bid or the launch of a new product.These are known as regulatory announcements and they must be made via a regulatory channel known as an approved RIS (Regulatory Information Service) before the information is published anywhere else. For more information on RNS the Exchange’s RIS please click here. Investors can also find out information on a company from external sources, such as the press, stockbroker reports and specialist magazines or websites. If a company is performing well, and is expected to continue to do well, its share price should benefit. Share prices tend to anticipate the future so they can rise if a company has good prospects and fall if the outlook is not promising. Share prices are also affected by the wider environment. If economic conditions are good and expected to continue that way, investors tend to feel confident. Companies are more likely to perform well and deliver strong profits when the economic climate is benign so they are more likely to pay rising dividends. Under such circumstances, demand for shares tends to rise and prices increase; If the economic climate is difficult however, investors may feel nervous. They may worry that a company’s profitability will suffer if economic conditions are difficult. Fears about future profits tend to reduce demand for shares so prices may fall. This means that, in tough times, robust companies can see their share price fall, even if they are doing well. Conversely, companies can benefit from a rising market and their share price may go up, even if the underlying business is lacklustre. Over the long-term however, markets tend to reward robust, well-managed companies and their share prices rise.
05/1/2018
10:18
chart trader2000: zwemnaar1989Today 09:03 No surprise that both Geron and GCUP withdrew their interest. TBH not sure there was much interest in the first place. I believe these are all tactics implemented by SLE to stay suspended. How many days over the last year has this stock actually traded?! With everything so contingent on Mid Western paying back loans and Eroton paying oil money, the uncertainty was never going to help the SLE share price. I'm not too bothered that it hasn't traded as my average is quite a bit higher than 25p! It saves me from checking the share price each day!
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