San Leon Energy Share Discussion Threads

[o1lman] 18/11/2016 13:00

the proposed significant increase in Tosca's interest speaks volumes about their belief in the Company's future and growth prospects

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

guess u can't get it right all the time.

[o1lman] 18/11/2016 12:58

chart trader2000 - 05 Jul 2016 - 06:22:52 - 7622 of 7974 San Leon Energy Thread - SLE
Oisin Fanning, San Leon Executive Chairman, commented:

"We are very grateful for the strong support of the existing and new investors in the Placing. In particular, the proposed significant increase in Tosca's interest speaks volumes about their belief in the Company's future and growth prospects. The funds will help transform San Leon into a cash-generating producer, and will bring other assets towards development. The three existing assets expected to generate cash in the coming years (Rawicz, Siekierki and Barryroe) will be the foundation for significant growth and the creation of shareholder value."


>>>>>>>>>>>>>>


significant growth and the creation of shareholder value equates to a 213 million euro loss.
The funds will help transform San Leon into a cash-generating producer, oh dear.

[o1lman] 18/11/2016 12:35

so Eroton owns 27% of OML18, Bilton owns 10% of so that leaves 24.35, let's call it 25%.
NNPC owns 55% but it appears they are not meeting their cash calls so guess the other partners have to find the money, maybe that's the reason they needed a loan ?
anyway from their 25% they have to pay SLE 10%, of course it's not 10% but whatever cash they can pay in dividends.
let's go with the figure of 15%, from that they have to pay their 27% share of 1.5 billion in development costs, their share of the NNPC cash call, which they can earn back from future production.
service the debt of roughly 1 billion u$ and pay back the capital.
they have to agree a new hedge next year and if the hedge is fixed around 50 u$ that means they will struggle to pay all the calls on their cash.
every day of outage means their chance of paying their bills diminishes like snow on a sunny day.

GL

[smithy91] 18/11/2016 11:33

frus
Today 01:57
Linksdean fri iii ...."If things go well the project will have paid back by 2018 and if things work out the asset should throw off cash flow from there.".....And from Alaric on iii...."So this deal will cost SLE nowt....zilch...but once repaid they still have 5.4 working interest for free. Great business by OF and the BoD"???.............I thought we had an indirect economic interest. Not a working interest.
So the 9.72% is only temporary and we haven't even received anything yet. And no cash flow until 2018. So if all this is correct, just when is the share price expected to rise and why? It all looks like normal service has been resumed to me. Can't see anything but further decline of the share price in the foreseeable. Are we to end up in the same boat as the Mart sh who after 2 failed attempts to sell..Finally sold to us and got a pretty poor deal.

[linksdean2] 18/11/2016 11:21

Ha! Like you is you.. No nowt comes to mind!!. Go figa!

[o1lman] 18/11/2016 11:15

BlackSwan
Posts: 386
Off Topic
Opinion: Buy
Price: 44.25
San Leon - Where is SLE heading?Today 11:08Off the wall future scenario/comments assuming SLE/Tosca/OF do not want small PIs in the company.

A certain tidying up and a consolidation of assets whilst minimising of liabilities has been taking place - Poznan/Avobone/Barryroe - company emphasis has been placed on retaining a relatively small percentage return of other peoples efforts/risks whilst eliminating their own liabilities - my question is where is all this taking the company or even will the company even continue to exist in the future?.

A large portion of the Nigerian share deal went into three of Tosca's funds - sorry I don't recall their names (was it in some RNS ?) - anyhow the company's current focus is now on Nigeria but will SLE aka Tosca really want or need to get involved with any actual field exploration and development work in OML 18 given they already have - 17% interest on loan capital, 25 pence share options and guaranteed future ownership/return based on a percentage of OML 18 production profits into the future a la the Palomar/Barryroe investment model all this could/would make a nice return to the bottom line of Tosca's funds..

If I were the Rottweiler and the Nigerian adventure survived or even prospered preferable without any further work over costs or exploration from myself I would then look to buy out existing SLE shareholders via my Mauritius subsidiary, pack the acquired assets into my fund portfolios ensuring that anybody who wanted returns out of the Nigerian OML18 holdings would have to do so by buying into my funds with percentage entrance fees and annual management fees. Meanwhile the share price just sits there at 43.7 pence today.

[o1lman] 18/11/2016 11:04

so from the last audited accounts the value was 54 mill euros, now fanny said " the sale price was very similar "
someone else who needs to put a calculator on his xmas list and also a reality check, no wonder the company has constantly found itself up to its neck in the brown stuff.
anyway if/when it reaches fannies desk let me be the first to wish u happy crimbo.

[triple seven] 18/11/2016 11:04

Your on filter you mug troll

[o1lman] 18/11/2016 11:00

Chief Executive Officer, Oisin Fanning, commented:

"The sale of certain Polish assets is a natural further step in focusing the Company's financial and management resources on the world-class OML 18 asset in Nigeria, as per the Company's stated strategy. The sale price achieved is very similar to the carrying value of those assets in the latest audited financial statement, after the liabilities release is applied, and is considered by the Board to be full and fair. It also reduces overheads costs through a downsizing of the Polish office, and no further licence fees or overheads on the assets sold."

[triple seven] 18/11/2016 10:31

Sad troll90k loss unbelievable

[o1lman] 18/11/2016 10:24

anyway look on the bright side u could have been posting here, like sl1nky, since it was £40.00, that is some out performance.
if u had bought 9k worth of shares it would be worth after nearly 4 years £450
if u get 17% yield on that, u will not but let's fantasise for a moment, £76.50, going to take a while to get back to 9k !!!!!
now if the share value rises the yield falls so will still receive £76.50, u should be able to buy some ' stuff ' with that.
looking at the figures I understand why u never comment on SLE but follow me around like a dog with rabies.
having supported the share for 4 years, how many cheap warrants were u offered ?
TOSCA got there's at 25p.

[smithy91] 18/11/2016 10:09

o1lman
18 Nov '16 - 09:55 - 28409 of 28412    0   0
when u deduct the payment owed to Avobone, looks as they have made just better than two toffee crisp wrappers and a half eaten mars bar.
lucky it was the biggest gas field discoverd in Poland etc., and a step towards making Poland self sufficient in gas. On the bright side there should now be enough cash to pay the BOD's next year.

[o1lman] 18/11/2016 10:07

0943 GMT It's a tough time to be a major oil company, but not just because of low prices. The world is already shifting towards a lower carbon economy, forcing tough strategic choices on executive management. Demand for coal and oil could peak well before 2035, according to Wood Mackenzie. Up to 50% of the majors' production could be hit with carbon costs over the next decade, the consultancy says. The companies are already moving to manage the transition, focusing more on gas and making some investments in renewables. "The timing of a transition to low-carbon energy will be critical," says Paul McConnell, research director of global trends at Wood Mackenzie. "The biggest risk for oil and gas companies is to do nothing, and be left exposed to investors making their own minds up."

>>>>>>>>>>>>

just as proper oil companies are moving out of oil into gas, SLE are moving out of gas into oil. oh dear.

[o1lman] 18/11/2016 09:58

If things go well

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

oh dear.

[o1lman] 18/11/2016 09:55

when u deduct the payment owed to Avobone, looks as they have made just better than two toffee crisp wrappers and a half eaten mars bar.
lucky it was the biggest gas field discoverd in Poland etc., and a step towards making Poland self sufficient in gas. On the bright side there should now be enough cash to pay the BOD's next year.

[o1lman] 18/11/2016 09:52

Oisin Fanning, San Leon Chairman, commented:

"I am delighted to be working again with John Buggenhagen, former Exploration Director of San Leon, who knows these assets as well as anybody. PNR bring a team of US based industry experts who have the expertise to maximize production and ultimate recovery from these significant gas fields. The receipt of the up-front cash payments, and the execution of work programmes on Rawicz and Siekierki to target early production, put San Leon on a strong footing and will provide a basis for continued production growth throughout the Company's portfolio."


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

oh dear, oh dear.

[linksdean2] 18/11/2016 09:50

another great deal and does not touch our cash flow from oml 18 which will be massive compared to rawicz...

have we heard that rawicz is connected...no!...overall sle got in total $29 million and still retains 10% of seikeirki npi for free..

avobone half paid!!..wot did you prik stik no!!..nowt!!..ha haa...sle just larf at you figa!..as you are and prove day in your a no nowt....and in time sle will get you!!...then shareholders here will...

cream on weighanchor!!...sle still in business and now producers of oil&gas!!..

[o1lman] 18/11/2016 09:49

frus
Posts: 1,810
Off Topic
Opinion: No Opinion
Price: 43.625
FromToday 01:57Linksdean fri iii ...."If things go well the project will have paid back by 2018 and if things work out the asset should throw off cash flow from there.".....And from Alaric on iii...."So this deal will cost SLE nowt....zilch...but once repaid they still have 5.4 working interest for free. Great business by OF and the BoD"???.............I thought we had an indirect economic interest. Not a working interest.
So the 9.72% is only temporary and we haven't even received anything yet. And no cash flow until 2018. So if all this is correct, just when is the share price expected to rise and why? It all looks like normal service has been resumed to me. Can't see anything but further decline of the share price in the foreseeable. Are we to end up in the same boat as the Mart sh who after 2 failed attempts to sell..Finally sold to us and got a pretty poor deal.