San Leon Energy Share Discussion Threads

[linksdean2] 15/11/2016 10:55

its you who is the non holder with no vested interest..and only here to wage war against sle who does not understand!!..you will understand when your in court for defamation though!..go figa!!

butt..the loan notes are guaranteed legal and binding!..you know nothing callous junkie..your just one bitter old man with a massive loss!..

you also know nothing about the extra money raised as sle are paying avobone in stage payments..so again your wrong with your assumtions of where and what monies from the placing are used for etc!! and what is left..

you are one feked imbecile..fig he hee!

Midwestern Leon Petroleum Limited, a company incorporated in
Mauritius with registration number C103713, established to complete
the OML 18 Production Arrangement by acquiring 100 per cent. of
the shares in Martwestern, which holds a 50 per cent. shareholding in
Eroton as described in paragraph 11.1.3 of Part 8 of this Document

Martwestern Energy Limited, a company incorporated in Nigeria
with registration number RC 113564, which holds a 50 per cent.
equity interest and 90 per cent. initial economic interest in Eroton

On Completion, the Company will also have the following interests.
Company Country of Company Issued share Proportion
incorporation registration number capital ownership
Indirectly held:

BidCo Mauritius C103713 US$7,038 40.0%
Martwestern Nigeria RC 113564 N10,000,000 40.0%
Eroton Nigeria RC 1137060 N10,000,000 20.0%

Upon completion of the OML 18 Production Arrangement, the Enlarged Group will benefit from:
l an initial 9.72 per cent. indirect economic interest in OML 18, held through an indirect 20 per cent.
shareholding in Eroton;

[o1lman] 15/11/2016 10:43

so just to get back the placing costs the company needs to earn from Nigeria
48 mill u$
32 mill euros
On the first of January the clock starts ticking for more costs GL.

[o1lman] 15/11/2016 10:40

u clearly do not understand how a loan works and u clearly fail to understand that Mart no longer exists but as always never ever allow mere facts to stop u posting boll*x.

[o1lman] 15/11/2016 10:39

there were costs for options and warrants issued but let's assume the costs are already accounted for in the 48 mill u$, note they may not all be but guess looking at the current total it matters little.

[linksdean2] 15/11/2016 10:38

so wrong non vested misleading oddman!!..go figa!

sle get all their money back so the deal cost sle nowt..bit like what you no is going on!! ie nowt..

Loan Note Instrument
11.2.1 By an instrument dated 22 March 2016, BidCo constituted US$170 million 17% Fixed Rate Secured Loan Notes 2020. The Loan Notes issued pursuant to the Loan Note Instrument are repayable on 22 March 2020,

Interest is paid quarterly at the rate of 17 per cent. per annum. Interest will be paid from a minimum of 65 per cent. of BidCo cashflows, with the percentage increasing up to 100 per cent. if required to service the principal and interest payments on the Loan Notes
(“Dedicated Proceeds”).

Guarantee in respect of Loan Notes
By a guarantee dated 22 March 2016, Midwestern and Mart jointly and severally guaranteed to the Initial Noteholders the payment of the Loan Notes by BidCo. Each of Midwestern and Mart agree, following a default by BidCo of any of its obligations under the Loan Notes, to make immediate payment and performance to the noteholders of all obligations under the Loan Notes.

The guarantee is governed by the laws of England and Wales.
By a deed of confirmation dated 30 June 2016, Midwestern and Mart confirmed that the guarantee dated 22 March 2016 remains in full force and effect and that the obligations it secures include all obligations and liabilities of BidCo to the holders of Loan Notes

[o1lman] 15/11/2016 10:36

u then need to add on the costs from the interims to the end of the year, the cost of the new board and the costs for the old board, let's be generous 10 mill euros

so that 32 mill euros and 48 mill u$

[o1lman] 15/11/2016 10:35

add to that around 4 mill euros for the extra costs of settling Avobone
that's a running total of 22 mill euros.

[o1lman] 15/11/2016 10:19

from the interims they owed 50 mill euros but raised from the placing 32 mill u$
32 mill u$ is very roughly 34 mill euros.

so the carry forward is 48 mill u$ and 18 mill euros

[linksdean2] 15/11/2016 10:17

put it in there as it has your name in it!!..go figa!!

[o1lman] 15/11/2016 10:17

the placing was for 221 mill u$ and the value of the loan note is 173 mill u$, so that's 48 mill u$ spent and gone to money heaven.
of the 173 mill loan SLE owns 40% of Bidco and therefore owes itself 69 mill u$.
remember this is SLE world where nothing ever is what u were told.


so the carry forward 48 mill u$

[o1lman] 15/11/2016 10:13

today we will try to estimate how much cash SLE needs to earn from Nigeria to get back the placing funds, that is for break even as a shareholder.

[smithy91] 15/11/2016 09:35

LibraG
12 Nov '16 - 14:00 - 28200 of 28280    2   0
Links, I'm shocked that you have the temerity to post when at every turn the share price has shown you to be catastrophically wrong.

[o1lman] 15/11/2016 09:29

• NNPC redeploys 124 staff, appoints Ughamadu as spokesman
The end of oil and gas exploration might be nearer than imagined, said Yemi Osinbajo. The Vice President voiced this concern yesterday in Abuja at the presentation of three books written by the Minister of State for Petroleum Resources, Ibe Kachikwu.

He anchored his worries on breakthroughs in the sector, especially the discovery of shale oil in commercial quantities in the United States.

The Nigerian National Petroleum Corporation (NNPC), meanwhile, has announced Ndu Ughamadu as its spokesman. He replaces Garbadeen Mohammed, amid a redeployment of 124 staff.

Osinbajo said the popularity of emerging technologies like solar and electric-powered vehicles was pushing hydrocarbons into irrelevance amid rapid depletion. According to him, the trends leave Nigeria no choice but diversify its economic base.
He said: “As we move to diversify our economy, we are particularly aware that we need oil to get out of oil. Yet, our window of opportunity to benefit maximally from the petroleum industry is narrowing.

“The development of shale oil, which the author spent considerable time on, increasing breakthroughs in renewable energy use, the speed of expansion in the use of electric vehicles – Japan now has more electric charging stations than gas stations – all point to the fact that the party might be over sooner than we expected.”

[jotoha2] 15/11/2016 09:29

99% Loss from it's high and the two pumpers are still at it , who are you trying to convince , nobody wants to buy this little gem , just look at the trades since relisting , this company has been there for the insiders only.

[jotoha2] 15/11/2016 09:25

Keep on pumping t7 , looking at the share price you are clearly some kind of a guru , do tell us how to pick these amazing winners, did you take a degree in investing ?

[triple seven] 15/11/2016 07:40

Won't be pennies when it comes in.Ninty thousand pounds loss,now that is what i call stupid. And you trolls want credibility? Don't think so.

[o1lman] 14/11/2016 21:49

jotoha214 Nov '16 - 19:17 - 28273 of 28275 1 0
Clearly linksy and t7 are paid some pennies for each post , never seen so much dribble for so little substance..............

[o1lman] 14/11/2016 21:48

remember this, when u had used up all your words and couldn't copy all the post, as usual what isn't posted by a remper is usually of more importance than what is.

[linksdean2] 14/11/2016 19:22

George is still invested!! unlike you!..fools and horses cry when they are out of their depth!!..eh trototrotha!!

[jotoha2] 14/11/2016 19:17

Clearly linksy and t7 are paid some pennies for each post , never seen so much dribble for so little substance , this pile of shiiiite is going down the pan , once the spivs have taken their drool, and to think George invested in here , clearly even the astute can be turned over.

[o1lman] 14/11/2016 19:00

remember this, when u had used up all your words and couldn't copy all the post, as usual what isn't posted by a remper is usually of more importance than what is.