San Leon Energy Dividends - SLE

San Leon Energy Dividends - SLE

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
San Leon Energy Plc SLE London Ordinary Share IE00BWVFTP56 ORD EUR0.01
  Price Change Price Change % Stock Price Last Trade
0.15 0.58% 26.10 16:35:21
Close Price Low Price High Price Open Price Previous Close
26.10 26.00 27.00 26.90 25.95
more quote information »
Industry Sector
OIL & GAS PRODUCERS

San Leon Energy SLE Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
27/04/2020SpecialGBX631/12/201831/12/201907/05/202011/05/202029/05/20200

Top Dividend Posts

DateSubject
20/10/2020
22:21
1kempton: 2020-10-19 14:01:17.10 GMT (Daily Mail) - A strategy originally born out of prudence sets San Leon Energy apart from the crowd amidst 2020's unprecedented challenges. The Nigeria-focused firm's lend-to-invest strategy may not have been designed for 2020, nonetheless, it has created a uniquely strong position. A $175million loan note transaction back in 2016 gave San Leon a cash-generating foothold in an oil project previously divested by Shell, which now has the capacity to produce around 50,000 barrels a day (bopd) before pipeline and export losses. San Leon sees this principal repaid plus 17 per cent interest – with $88million remaining before full redemption comes in late 2021 - and at the same time it holds a 10 per cent economic interest in the underlying oil field asset. The oil field's returns will soon be boosted by a new pipeline and export route, that will take crude offshore to a floating storage and offloading facility. This will significantly enhance the economics of the operation, which can lose about a third of its barrels before they get to market. San Leon, following its lend-to-invest model, is supporting the funding of the pipeline project. It will receive a 14 per cent coupon for four years and gains a 10 per cent stake in the infrastructure, adding a further stream of continuing income. The blueprint was followed again as recently as September with San Leon lending $7.5million with a 10 per cent coupon, and a 15 per cent equity stake in Decklar Petroleum – which receives the majority share of production from the Oza oil field. Later, San Leon can increase its stake to 30 per cent if/when it extends a further loan to fund expansion work at Oza. These investments all follow a distinct pattern, and, significantly the cash flow supports a dividend policy that continues to provide returns to shareholders – some $35million was paid in the first half of this year, which at the time represented a yield of around 30 per cent. 'We lend to invest as it is a more efficient use of capital,' said Oisin Fanning, San Leon chief executive. 'Most small cap oil and gas companies buy to invest. The capital is sunk into project and they never get it back. They just have to hope the investment goes well. 'From 2016 onwards, we've taken a different approach and it has worked very well for us so far. We lend money, at a reasonably high coupon. We're protecting our capital whilst getting a share of the businesses themselves. 'From a strategy point of view that's turned out to be very wise. It fundamentally means that even in hard times I can still categorically say that we'll be paying a handsome dividend next year, because we know that we'll be getting in around $100million regardless of the market, regardless of operational issues. We'll be getting it in the repayment of principal plus interest.' The financial merits of the model are arguably underrated, from the perspective of the share price at least - as a number of analysts recently wrote up targets and valuation with very substantial 'blue sky' attached. Panmure Gordon in early October pitched a 'buy' recommendation with a 59p price target, outlining around 100 per cent upside to the market price of the share on AIM. Before that, Allenby Capital estimated San Leon's enterprise value at £371million, versus £29million as implied by the company's market capitalisation of around £115million. One reason that investors may potentially overlook San Leon's success relates to the way in which its business is represented in how it is accounted and where the profit and loss belies the group's cash machinations. For those not paying attention to coupons, cash and dividends, the company's $20.4million loss in the first half of 2020 obscures the nature of San Leon's performance. According to Fanning, the paper losses don't properly depict the business which had $41.5million of income from loan repayments or the $35million paid out to shareholders in the first six month of 2020. 'You've got to look at our cash situation,' he pointed out. 'Look at the cash in, look at the returns we've given to shareholders, and you've got to look at the deals that we're doing.' In its note this month, Panmure described San Leon's approach as a low-risk and value-creating model. 'With a relatively small amount of capital deployed, attractive returns are realised whilst having more influence and control than would be the case as a minority joint venture partner,' analyst Ashley Kelty at the City broker said.
02/10/2020
07:11
alaric7: www.proactiveinvestors.co.uk/companies/news/930230/san-leon-energys-powerful-cash-flow-isnt-properly-valued-in-share-price---broker-930230.html San Leon Energy’s powerful cash flow isn’t properly valued in share price - broker The company’s strategic move into Nigeria has been a great success story, says Allenby, which has initiated its coverage. San Leon Energy PLC’s (LON:SLE) powerful cash flow is a key factor in a valuation drawn up by Allenby Capital which sees some 222% upside to the current share price. The Nigeria-focussed oil and gas investor last week released first half results that illustrate a company with a strong financial position and outlook. It revealed that in 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln from operators, via loan note repayments. Some US$88.7mln of future loan note payments remain under its loan arrangements. San Leon ended the half with US$35.6mln in cash and had US$22.6mln by mid-September following new investments. READ: San Leon interims confirm strong financial position The loan notes were the basis of San Leon’s investment in OML 18 (an operation bought out from Shell in 2015), with the operator paying a material coupon and providing the company with a 10.58% indirect interest in the underlying oil fields. Allenby, in a new note, described San Leon’s strategic move into Nigeria as “a great success story”, whilst noting that the more recent investments similarly focus on the acquisition of cash-flow. “The OML 18 move has been followed by two recent investments which again focus on near-term cash flow,” Allenby analyst Peter Dupont said. “These are the interests taken in the new ACOES export pipeline linking the core of the OML 18 operations with an offshore FSO and in the Oza field development project in the northern Niger Delta. High yield debt is a feature of both investments.” Dupont highlighted that currently San Leon shares are pricing an enterprise value of just £29mln, substantially less than the £371mln value estimated by Allenby. “We have adopted a hybrid sum-of-the parts approach to valuation,” Dupont said. “In the case of the current cash balance and the financial receivables relating to OML 18 and the ACOES pipeline, we have valued these items dollar for dollar. “Regarding the equity interests in OML 18 and Decklar, our valuation basis is price/boe multiplied by net reserves. We have used $3/boe and $1.5/boe for 2P reserves and 2C resources respectively. Our valuation overall is $482m or £371m, equivalent to 82p/share.” San Leon paid out US$35.3mln to shareholders in the first half of 2020 and in May it announced that a US$33.3mln special dividend would be paid - representing a dividend yield of about 30% at that time - and a US$2mln share repurchase programme was completed early in the reporting period
29/9/2020
15:34
1kempton: From bluerill lse.. www.proactiveinvestors.co.uk/companies/news/930230/san-leon-energys-powerful-cash-flow-isnt-properly-valued-in-share-price---broker-930230.html San Leon Energy’s powerful cash flow isn’t properly valued in share price - broker The company’s strategic move into Nigeria has been a great success story, says Allenby, which has initiated its coverage. San Leon Energy PLC’s (LON:SLE) powerful cash flow is a key factor in a valuation drawn up by Allenby Capital which sees some 222% upside to the current share price. The Nigeria-focussed oil and gas investor last week released first half results that illustrate a company with a strong financial position and outlook. It revealed that in 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln from operators, via loan note repayments. Some US$88.7mln of future loan note payments remain under its loan arrangements. San Leon ended the half with US$35.6mln in cash and had US$22.6mln by mid-September following new investments. READ: San Leon interims confirm strong financial position The loan notes were the basis of San Leon’s investment in OML 18 (an operation bought out from Shell in 2015), with the operator paying a material coupon and providing the company with a 10.58% indirect interest in the underlying oil fields. Allenby, in a new note, described San Leon’s strategic move into Nigeria as “a great success story”, whilst noting that the more recent investments similarly focus on the acquisition of cash-flow. “The OML 18 move has been followed by two recent investments which again focus on near-term cash flow,” Allenby analyst Peter Dupont said. “These are the interests taken in the new ACOES export pipeline linking the core of the OML 18 operations with an offshore FSO and in the Oza field development project in the northern Niger Delta. High yield debt is a feature of both investments.” Dupont highlighted that currently San Leon shares are pricing an enterprise value of just £29mln, substantially less than the £371mln value estimated by Allenby. “We have adopted a hybrid sum-of-the parts approach to valuation,” Dupont said. “In the case of the current cash balance and the financial receivables relating to OML 18 and the ACOES pipeline, we have valued these items dollar for dollar. “Regarding the equity interests in OML 18 and Decklar, our valuation basis is price/boe multiplied by net reserves. We have used $3/boe and $1.5/boe for 2P reserves and 2C resources respectively. Our valuation overall is $482m or £371m, equivalent to 82p/share.” San Leon paid out US$35.3mln to shareholders in the first half of 2020 and in May it announced that a US$33.3mln special dividend would be paid - representing a dividend yield of about 30% at that time - and a US$2mln share repurchase programme was completed early in the reporting period
07/9/2020
21:42
1kempton: And this is the bizz that's buzzing!!..as this is a money spinner for sle shareholders if this/these wells produce as they should. Malcy says; San Leon Energy San Leon is to provide funding for the development of the Oza field in Nigeria via a funding model that gives it opportunity to provide a repayable loan at an attractive interest rate and with an additional significant equity kicker. This gives SLE the opportunity again to generate a meaningful return from repayments in the coming years as well as looking forward to a longer-term dividend return from the equity shareholding. The starting point is subscription agreement with Decklar (holder of the Risk Service Agreement to the operator) for a $7.5m loan at 10% p.a. coupon as well as the opportunity for a 15% interest in the company. In addition the agreement allows San Leon to increase the loan notes by another $7.5m and the equity by another 15% to give them 30% of the equity in due course. Put simply, this is another deal by which San Leon invests with limited risk into an older, marginal field albeit one with plenty of seismic and therefore upside. As it is onshore the wells are relatively cheap and have few if any issues commonly associated with offshore or semi-offshore in the country. This deal will be decided as to commerciality pretty quickly, the first well will give the option to scale up the investment, following receipt of the result of the new drill proof-of-concept well after, say, c.90 days. Obviously the way the option is structured it would be possible for SLE to walk away if things don’t go according to plan. With wells producing 2,000-4,000 b/d it is possible that a 20,000 b/d total might not be ruled out for the investment. So for a relatively modest outlay and very limited risk, San Leon has outlined another potential investment with high rewards. Returns should come from the coupon on the loan note but also from what might be a 30% investment at extraordinarily low outlay in Decklar. The shares have more than doubled from the lows but at 27p the shares still offer exceptional upside particularly when the management do deals like this.
27/8/2020
11:04
echoridge: '...Besides if you wanted to take a punt on Barryroe, you would be a stakeholder in PVR or LOGP. Doubt it will impact SLE in the medium term. Come back in 2-3 years, that is if it makes it into the Irish energy capacity market and hasn’t been displaced by renewables....' Man, if bleating mindless drivel were a religion, you'd be a saint. They start drilling, sle's 4.5% npi doubles in value overnight and it would be eminently sellable - though they probably won't since they don't need the cash and Oisin is on record as loving the project - as I have written several times now. That's how the royalty market works, meaning that financially, the impact on sle will come much, much sooner than for pvr or logp though both those share prices will react more significantly. The point isn't which share to punt if you think Barryroe is a going to be pumping in the immediate future - of course you would buy pvr or logp - but that the return to sle shareholders would also be substantial, immediately monetise-able, and SHORT-term.
18/8/2020
17:08
1kempton: Yes correct echo sle has already been paid their loan back, 100m interest etc to be paid and 50% going back to shareholders.. Same with the pipeline deal..oinky doesnt want sle to be seen as a good investment he wants sle to fail. But contacts sle!!!!....why?...
18/8/2020
08:22
o1lman: let's roll forward, the first thing to know is SLE's current market cap 163 mill u$d. let's assume that SLE receives the full 110 mil u$d. they pay out half in dividend 55mill u$d. they need to retain 20 mill for the next years overhead. there will be no income as Eroton will not be paying a dividend or ELI as they both are stuffed full of debt. that will leave cash in the company 40mill u$d with no immediate revenue so if u deduct the cash spent from the market cap 65 mill a market cap around 100 mill u$d. Most probably less as the cash will be 40 mill and will reduce over time until the dividends roll in. of course there haven't been any dividends paid but by magic that might change. when OF receives his dividend he will have to pay 40% plus tax and the balance will have to go to the lenders who financed his latest share purchase. Share price around 16p, most probably less. if it is less OF will be up to his oxters again as he will be on margin call. it's a marathon not a sprint. if u are a shareholder keep an eye on the oil price and don't be left holding the baby.
06/8/2020
11:06
o1lman: let's be nice and assume the pipeline starts on the 1 Jan next year. SLE's figures next year will not include any improvement in production. U know the income, 10 mill not certain but it's already earmarked anyway. that takes u up to June 2021. In June 2022,one years increased production isn't going to allow Eroton to pay a dividend. That takes u up to June 2023, when SLE will have spent on overheads 60mill u$d. not going to leave much if anything for the shareholders. especially as is likely Eroton wont pay a dividend so SLE will need 20mill u$d to stay in business.
05/8/2020
22:39
1kempton: San Leon Energy gets nods of approval for ELI investment Fox Davies increased its price target to 45p from 40p previously, and its NAV estimate to 53p from 47p. San Leon Energy PLC’s (LON:SLE) acquisition of a 10% stake in Energy Link infrastructure has been welcomed as a smart move by two brokers. The oiler is investing US$15m in EIL (Malta), which owns the Alternative Crude Oil Evacuation System (ACOES) project. ACOES is being constructed to provide a dedicated oil export route from the OML 18 asset in Nigeria, comprising a new pipeline from OML 18 and FSO. The investment comprises a 10% equity interest in ELI together with a US$15m shareholder loan at a coupon of 14% per annum over 4 years. SP Angel said it was a shrewd investment in its view, securing the additional control of the midstream export route (through the ELI board seat) at no cost. Operationally, ACOES will also have a material effect on the operation of OML 18, primarily through the reduction of downtime and losses associated with the existing export route. ELI, through its Nigerian subsidiary, will earn fees for transporting and storing crude oil from OML 18 and potential third parties. As a shareholder in ELI, San Leon stands to benefit from what can be a very profitable operation in the medium-to-long term in our view. Fox Davies, meanwhile, notes the funds will be provided by SLE to ELI in two tranches, the first US$10mln immediately and the balance of US$5mln in Q4 2020 following receipt from Midwestern Leon Petroleum Limited of the next repayment of Loan Notes due then. “We see this deal as very positive for SLE," said the broker. "At no cost it secures SLE some control of the midstream export route (one Board seat at ELI), which is crucial for the full monetisation of the upstream asset, and a 10% share of future crude transportation profits which we estimate to be worth US$35mln or 6p per SLE share." Fox Davies increased its price target to 45p from 40p previously, and its NAV estimate to 53p from 47p. "This deal demonstrates the ability of SLE to take advantage of very accretive opportunities and should provide added comfort to investors," it added.
05/8/2020
18:36
o1lman: jarrow3 - 11 May 2015 - 12:52:44 - 27351 of 35890 San Leon Energy - The New Positive Thread - SLE Spread Betting and CFDs May Magazine edition now online at http://bit.ly/1aCCT0d This month's premium features includes General Election 2015: Whoever Wins, Britain Loses - Interview with David Buik, Zak Mir interviews a City Legend - The Mind of the Master Investor - Small Cap Corner, Tomorrow's Jam Today New Tech - 11 Sep 2014 - 08:27:05 - 26627 of 35890 San Leon Energy - The New Positive Thread - SLE http://bit.ly/1hAMc5m VIDEO Zak Mir takes a charting look at some of the trending stocks of the moment, ALBA, SLE, UJO - Today, 6:58 AM BlackMarketUnit - 11 Sep 2014 - 06:59:45 - 26621 of 35890 San Leon Energy - The New Positive Thread - SLE http://bit.ly/1hAMc5m VIDEO Zak Mir takes a charting look at some of the trending stocks of the moment, ALBA, SLE, UJO - Today, 6:58 AM loadsadough - 09 Sep 2014 - 06:47:13 - 26544 of 35890 San Leon Energy - The New Positive Thread - SLE http://bit.ly/1hAMc5m VIDEO Zak Mir takes a charting look at some of the trending stocks of the moment, NTOG, SLE, SEE - Today, 6:45 AM joan1234 - 18 Aug 2014 - 06:58:33 - 26204 of 35890 San Leon Energy - The New Positive Thread - SLE http://bit.ly/1hAMc5m VIDEO Zak Mir takes a charting look at some of the trending stocks of the moment AFRI, SLE, GCM - Today, 6:54 AM
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