San Leon Energy Share Discussion Threads

[o1lman] 15/12/2016 09:48

remember the new shareholders take no part of the 218 mill euro loss, lucky them.
tough titty if u are a long term holder.
That's just for last year plenty more for this year.

[triple seven] 15/12/2016 09:33

Happy Day's

[o1lman] 15/12/2016 08:32

Creation of distributable reserves

This is possibly the main reason that companies reduce their capital.

A reserve arising from a reduction of capital is generally treated as realised profit. A capital reduction can therefore:

Increase existing distributable reserves (perhaps to facilitate a dividend payment).
Reduce or eliminate accumulated realised losses (which may prevent a company paying a dividend even where it is trading profitably).

Eliminate accumulated realised losses and leave the company with distributable reserves.

[o1lman] 15/12/2016 08:27

On 7 November 2016, Avobone N.V. and Avobone Poland B.V. ("Avobone") (together, "Avobone") and San Leon Energy Plc ("San Leon") settled a number of ongoing disputes between them and between Avobone and certain of San Leon's subsidiaries, including Aurelian Oil & Gas Limited, Aurelian Oil & Gas Poland Sp. z.o.o, Energia Zachod Holdings Sp. z.o.o and AOG Finance Limited, in Poland, Netherlands, Ireland, England & Wales in respect of various matters including a final award in an ICC arbitration dated 21 May 2015. The total settlement of EUR23.3 million plus interest to be paid to Avobone by San Leon will be paid as follows, with EUR2.0 million being paid by 21 November 2016, EUR8.0 million by 28 April 2017, EUR8.0 million by 16 October 2017 and EUR5.3 million by 30 December 2017. Interest will accrue at a rate of 5% per annum on instalments until paid.

The provision made in the 2015 audited accounts for the Avobone dispute was approximately EUR20.6 million. The difference been the settlement figure and the provision is due to interest, exchange rate fluctuations, and further legal costs.

San Leon is confident that this settlement will not affect the previously-announced capital distribution policy, whereby 50% of free cash flow from San Leon's interest in the OML 18 asset will be returned to shareholders via either share buybacks or dividends for five years


>>>>>>>>>>>

Avobone arrangement not to complete until the end of next year.
the company is confident etc.,
so if they get loan repayments from Eroton it looks as it will be a share buyback.

[o1lman] 15/12/2016 08:23

the company are not allowed to pay dividends, it's to stop loss making companies paying all their cash to shareholders then disappearing and not paying their creditors.
they have had shareholder approval for the proposed capital reduction but cannot apply to the court for the necessary approval because of outstanding debts especially Avobone.
of course they could carry out share buybacks, I guess with all the board holding options at 45p that might be the preferred strategy.

[linksdean2] 15/12/2016 07:20

Oml18 does not flare..used to but now it's all sold!..go figa!

[linksdean2] 14/12/2016 18:29

It's a court decision..not anyone here can influence the court..derr!..I would say the prik stik was wrong about sle going bust! Finishing by last year..wrong about the t/o last year wrong about the suspension wrong about the nomad wrong about no production this year etc etc etc..the old man is a divvy himself so I expect he will be wrong again! Butt if no divvys then share buy back which will reduce shares and that could up the share price as sle will have received payments to do this..

[jotoha2] 14/12/2016 17:47

Now if oilman is correct in his statement re divi payments , then all the rampers do need to come up with some answers , where are the special divi payments that were promised , then again looking at the long past history of these Directors , everyone apart from a few have been reamed so hard that it must be fuuuucking painfull up the old arsseholey.

[o1lman] 14/12/2016 14:33

appropriate time, similar to jam tomorrow or the day after.

[o1lman] 14/12/2016 14:32

yep, didn't think u would be able to understand the above, a lot of words there.

[triple seven] 14/12/2016 13:36

How much did you lose? Ninety thousand poundsHappy day's

[o1lman] 14/12/2016 12:08

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.

[triple seven] 14/12/2016 11:29

Please remind us all how you lost,and why your so bitter.