San Leon Energy Share Discussion Threads

[1historyman] 16/10/2018 19:32

maybe as SunTrust were keen to leave anyone else should follow them ? after all they know far more than u do about the current situation at OML18.

[1historyman] 16/10/2018 18:13

maybe u could explain why SunTrust who know more about the current situation at 0ML18 than u were keen to dump their shares.

[1historyman] 16/10/2018 13:22

I can also help u here, according to the company it's still $90 million.

[1historyman] 16/10/2018 13:20

The Reserves Based Lending (“RBL”) conditions required for the payment of dividends by Eroton have now been met, with the exception of satisfying the amount payable to the Debt Service Reserve Account (“DSRA”) and thereafter submitting audited accounts. As announced on 7 September 2017, depositing three future quarterly RBL repayments into the DSRA attached to Eroton’s existing RBL facility, is one of the conditions that needs to be met before the RBL lenders will allow distribution of dividends from Eroton to its shareholders. The cumulative amount required to fill the DSRA varies according to the RBL amortisation schedule and is approximately $90m for much of 2018. The DSRA balance however fluctuates according to operational needs and due to some of the funding challenges experienced.

[1historyman] 16/10/2018 13:16

Links, u think that everyone who posts here except u and czar is charttrader, he must have really got under your skin. whilst it's not rational to exchange views on a bboard I will make an exception for u.
Why is it negative to post what the Chief Operating Officer stated only a couple of months ago ?

[1historyman] 16/10/2018 09:46

OML 18
OML 18 is a world-class asset with substantial reserves and a CPR target gross production rate of over 100,000 bopd. From a subsurface technical perspective, the steps to achieve that are not particularly onerous – involving relatively simple workovers of existing wells, and the drilling of new wells in a prolific region with multiple stacked reservoir layers. That begs the question: why is OML 18 not yet generating more cash flow from operations?
To date, the operational cash flow on OML 18 has been affected by:

1) Slower-than-expected workover/drilling progress
2) Production downtime
3) Pipeline losses

JP

[czar] 16/10/2018 07:21

This is going to get very interesting when the $10m share buy back starts. With about 90% of the stock in firm hands there just will not be enough shares to buy back unless the prices moves well above the old high of 58p.

[1historyman] 15/10/2018 20:15

linksdean
26 Jan '16 - 10:59 - 40035 of 46107
0 0 0
OML 18 contains nine fields, including one which straddles the
licence boundary, and associated infrastructure that includes seven oil flow stations,
three associated gas gathering processing plants and one non-associated gas
processing plant, and associated gathering facilities. Approximately 140 wells have been
drilled on OML 18. Three fields are currently on production. Production in recent years
has ranged between 20,000 to 30,000 barrels of oil per day from approximately 30
producing wells.

so the licence has 9 fields which at present only 3 fields are producing between 20k/30k of oil a day..so looks like some upside on the other 6!..

martwestern holds 50% of the Consortium which holds 45% of OML 18

( Martwestern Energy Limited that in turn owns 50% of the shares of Eroton. )

20k/30k bpd is around 4500/6750bpd to martwestern for their 50% in Eroton..

San Leon will receive a minimum 65% enhanced cash sweep of Martwestern’s production proceeds from OML 18 to cover the timely repayment of debt incurred to finance the total acquisition cost.

so does this mean from when this deal is finalised! sle get mart resourses 10% plus martwesterns ( minimum...yes minimum 65%....)............and there is no time limit stated when the 65% ends !!

or is this from March last year!! the 65%.....nice if it is!!

AND..Significant portion of production covered by hedge at $95 per barrel until December 2017...……;……̷0;……R30;……..

[1historyman] 15/10/2018 13:35

then they were receiving over 90 bucks with the hedges in place, now only 80 on falling production, so maybe not that good ?

[1historyman] 11/10/2018 19:26

Good performance considering oil had dropped 6$ from its recent high.