San Leon Energy Share Discussion Threads

[divmad] 08/4/2019 17:52

That's 7 filtered posts all in a row. What a waste of energy.

[1historyman] 08/4/2019 12:30

Nigeria’s cost of oil production down to $23 per barrel – FG

Apr 7, 2019
The minister of state for petroleum resources Emmanuel Ibe Kachikwu has said that inspite of numerous challenges facing the oil and gas industry, government has managed to reduce significantly the cost of oil production which is now around $23 per barrel.
Speaking yesterday at the opening ceremony of the second edition of the Nigerian Oil And Gas Opportunity Fair, NOGOF, with theme, ‘Maximizing Investments in the Oil and Gas Industry for the Benefit of the Nigerian People ‘ in Yenagoa, Bayelsa state, Kachikwu, said efforts are being made to further reduce cost of production to about $15 per barrel.
The minister also disclosed that daily oil production has gone up to about two million barrels a day assuring sustainability of the feat following measures now in place to ensure security in oil bearing communities.
He said several projects have been completed in the industry like the Egina project which is producing about 150,000 barrels of oil a day.
Kachikwu however, expressed disappointment that despite the achievements recorded in the sector, there is nothing much to celebrate as positive impact of the industry to national development.
From fiscal policies down to community development the industry has not provided the level of expectations from the people.
The unfortunate aspect he stated is that huge investments is being diverted to neighbouring countries because Nigeria has not created the conducive atmosphere to attract such investments.
“Why we celebrate all nuances of achievements the sector has not be impactful, we ought to have developed our communities, either we are policy shy, or refused to take the lead or shy to take responsibilities.
We are still underdeveloped, underachieving and we are close to achieving the 4 million production target as we deliver 1.9 to 2 million barrels a day currently, but even at that why are we not taking over from the International Oil Companies, or produce a single oil firm that can transcend other West African countries”, he asked.
He therefore challenged indigenous oil firms and the Nigerian Content Development and Monitoring Board, NCDMB to take up the responsibilities of helping to transform the industry.

[1historyman] 08/4/2019 11:40

now using the information provided by The Managing Director, Eroton E&P, Ebiaho Emafo,
do u think last years production figures will beat 2017's figures or does natural depletion and the downtime of the NCTL mean they will be less.
it's your cash take a view and back your view.

[1historyman] 08/4/2019 11:25

12 Nov 2018 - 11:36:44 - 46330 of 47199
San Leon Energy - SLE
Ebiaho Emafo

Eroton Exploration and Production (Eroton E&P) Company Limited, operator of Oil Mining Licence (OML) 18, is an indigenous energy company, aiming to be the home-grown industry leader in the production of hydrocarbons in Nigeria, at a time indigenous companies play limited roles in exploration and production of oil and gas.

The Managing Director, Eroton E&P, Ebiaho Emafo in this interview with KINGSLEY JEREMIAH, discusses germane issues in the oil and sector in Nigeria, particularly the challenges faced by oil exploration and production companies.......................

For example, one aspect of the bill that will help us is in area of production to be recorded in terms of calculation of royalties, not at the well end but at the export end.

This is because for us, we quickly have loss of production on the line due to sabotage, theft, and at a time we were losing over 40 per cent of our production due to crude oil theft.

Initially, when we started, we were losing nine per cent of our production, but it went up to 46 per cent. Now, it has dropped to about 23 per cent loss on the line.

Meanwhile, royalties are calculated at the well end (production), not at export, it leads to losses to us in the business.

And nobody invests in an asset with the thought that these amount of losses would occur.

Fiscal regime is important to make it comfortable for oil and gas operators to play in the Nigerian space.

We have challenges with a lot of multiplicity of taxes that oil and gas companies have to pay; development fund for NDDC and other areas where oil and gas companies are contributing towards the communities they operate.

I hope that the PIGB will address in terms of customer relation, fiscal term and in terms of losses.

We are hopeful that all of us will benefit if the PIGB is signed because more oil will be produced. The losses are never accounted for.

There is nowhere in the world you will buy an asset and factor in a loss of 40 per cent.

[1historyman] 08/4/2019 11:00

the trader who had 425k shares to sell has been whittled down to 301k, might take a while unless OF commits more funds to the cause. if u are thinking of buying it might pay, or it might not, to wait until the iceberg unwinds. GL

[1historyman] 08/4/2019 10:14

is it better to be an ostrich than a believer in unicorns ? perhaps u can be both but maybe not if u want to make money trading shares.

[divmad] 08/4/2019 10:06

Yes I figured that out. Hopeless case, so he's finally gone on my filtered list.

[1historyman] 08/4/2019 09:59

I don't need your approval to post about SLE. try contacting OF and ask him when the trading update is going to be released, until then remember on past history all good news is spun and bad news is buried. of course it may change, then I might see an unicorn walking down my local high street.

[1historyman] 08/4/2019 07:52

29 Jun '18 - 12:10 - 45798 of 47190
0 0 0
Operating Officer’s Statement.

Firstly, while underlying production from the assets has been steady at approximately 50,000 bopd, substantial production downtime, caused by problems in the third party terminal and gathering system, resulted in the majority of the approximately 20% downtime in 2017 (reducing field production effectively to 40,000 bopd). This issue is being addressed by the planned implementation of the new export pipeline and Floating Storage and Offloading (“FSO”) project, and is also expected to improve overall well performance by removing the requirement to restart wells following any shut downs.
Secondly, substantial pipeline losses have been allocated to all operators by the Bonny Terminal operator. The 35% pipeline losses (reducing field oil sales further to approximately 26,000 bopd) are much larger than the 9% assumed in the Admission Document and are being disputed by Eroton, who have asked the relevant authorities to investigate. In the short term, this issue is being partially addressed by the installation of Lease Automatic Custody Transfer (“LACT”) units to make sure that the OML 18 partners have fiscal metering of the oil prior to export into the gathering system. In the longer term, the export pipeline and FSO system mentioned above will provide additional control.

[1historyman] 08/4/2019 07:40

now if anyone wants to post about SLE try any of the below

i. how much oil did Eroton sell last year
ii. how much profit did Eroton make last year or was it a loss
iii. how much of the last interest payment has been made
iv. how much the MLPL has borrowed to pay the interest to date to SLE
v. what was the flow rate on the last well
vi. has the payment due 31 Mar been made
vii. what exactly are the shareholdings in SLE



and not me as I'm quite an expert on me I might respond.

[1historyman] 08/4/2019 07:40

If u have heard of leopards and spots I would be extremely cautious here.

[divmad] 06/4/2019 07:33

Come on, historyman, out all your past needling behind you and make a fresh start on here. We all want to make money going forward, we all want to try and learn from the past and make the correct decisions based on the facts today. Gaps in knowledge can be shared with more knowledgeable posters, I'm sure. At least I would hope so. You two both know much more than me, but I have a sense that the historic tide going out on sle has changed for the better now so it will pay to view events more positively. What do you say?

[divmad] 05/4/2019 20:16

Talltrees, with respect, you're not going to make historyman vanish by continually resorting to vulgarity, or casting aspersions on his wife's fidelity, or knowledge of his email address. Best keep to the facts and win over neutrals by the power of your analysis, eh? I'm sure you are very well equipped to do that.

[1historyman] 05/4/2019 18:17

Eroton owe the RBL, they may have other debts, they have a liability for decommissioning which nothing is been allowed for.
The MLPL have debts, taking what OF stated they could be for the full amount of the money forwarded to SLE.

All this to be paid from production from OML which nobody knows, allowing for natural depletion I would guess 2018 daily production will be less than 2017.

As Eroton couldn't pay a dividend when oil was hedged at 100 u$ and then 90 u$ u don't need to be an accountant to work out there was no chance of a dividend last year or this year.


Pioneer relief lasts for 5 years, so will be ending soon.
the licence expires in June this year, although if they pay a fee they expect it to be further extended
PPT rate increases at the end of this year to 85%

according to the cash flow profile SLE should have received cash of 328 mill by the end of this year.

the fcast was for production from OML18 of 115k bopd by 2020

the PIB when voted on taxes hydrocarbon production at 50% of net profits and then 10% of net profits to
The Host communities fund.

to increase production the plan was to drill 50 oil wells and they have drilled one.

[1historyman] 05/4/2019 18:07

bluerill
Posts: 292
Opinion:
No Opinion
Price:
38.80
RE: sigh....
Today 17:05
sigh2
not the ownership percentages, you blithering buffoon. everything else. everything of consequence. all of your false claims/innuendo surrounding the structure and the ultimate risk(s) to san leon, instead of recognising that in fact, these loan notes are OVER collateralised, that the result of non-payment would be actually POSITIVE for san leon and that the structure set up to hold sle's economic interest in OML18, through which those payments are made, was done for tax-efficient/corporate reasons and nothing else.

[1historyman] 05/4/2019 18:05

oh dear, u have got it really bad links, seek help.