San Leon Energy Share Discussion Threads

[o1lman] 15/12/2016 19:50

first they have to write to all the creditors and get their agreement, unlikely Avobone will agree, of course if/when there is a court date post it to the thread until it's just more jam tomorrow.

[triple seven] 15/12/2016 19:16

Double ids one mug loser 90k happy day's

[witheco] 15/12/2016 16:21

No news, move on.

[o1lman] 15/12/2016 16:12

in the last financial year's accounts published they owed

Total liabilities 54,654 mill euros

some of that is deferred tax which hasn't to be paid but that's go with the figure as SLE are the masters of omission.
they raised cash from the placing of 33 mill u$ to pay creditors, repay loans and working capital.
the euro and the u$ dollar trades near to parity so lets say

21 mill euros still outstanding. this year's losses around 40 mill euros so the running total they have to earn from Nigeria to break even is 61 mill euros less money raised from the sale of Rawicz for 9 mill

total outstanding 52 mill, they have already paid the costs of the placing 20 million so 32 mill outstanding.
in two weeks time the money clock starts running again.
going to be a while before they turn a profit to pay out dividends or provide funds for a share buyback.

[triple seven] 15/12/2016 14:40

Old news,move on

[o1lman] 15/12/2016 14:24

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 14:02

Why you here still then?

[o1lman] 15/12/2016 13:40

not long to wait then but as Eroton are not allowed to pay a dividend or SLE, should be interesting. u couldn't make it up could u, well maybe u could.
perhaps they have been investing in the Euro millions lottery and, what's the word, anticipate a big win.

[o1lman] 15/12/2016 12:51

Loss for the period was EUR6.23m (2015: loss of
EUR8.26m);

so from the interims the loss was 6.2 million, for the full year u can double the loss and if u include the extra costs for Avobone and the cost of getting rid of the deadwood from the board guess a 20 mill euro loss would be nearer the mark.
The costs for the placing was roughly 20 mill euros, so a loss of 40 mill euros.

that's cash gone to money heaven, how they slice it and dice it in the accounts may be different.

[jotoha2] 15/12/2016 11:58

Thank you oilman , nice to see someone on this board is seeing it for what it is , probably the biggest scam put upon pi ever on AIM , and that takes some doing when you look at the dodgy Directors working in this so called regulated market. Stay well clear of this sham of a business.

[triple seven] 15/12/2016 11:57

Negatives negatives, get a life ffs.It's Christmas

[o1lman] 15/12/2016 09:53

let's estimate the losses for this year.

[o1lman] 15/12/2016 09:52

if u don't believe me, believe our Nomad who says that there will not be any meaningful cash to be returned until 2018, what could possibly go wrong before then ?