San Leon Energy Share Discussion Threads

[callasjunkie] 01/8/2019 18:38

Paranoia becoming the order of the day.

[1historyman] 01/8/2019 10:56

To date quarterly payments totalling €100.1 million (US$116.5 million) have been made on behalf of MLPL and received by the Company. €14.7 million (US$16.5 million) was due on 1 April 2019 under the terms of the Loan Notes and is outstanding. When the outstanding amount of the quarterly Loan Notes payment is received there will be more than sufficient cash funds for the Group and Company to remain a going concern for at least 12 months from the date of approval of the financial statements. This projection takes into account the repurchase of €26.8 million (US$30.5 million) of the Company’s shares, completed in March 2019.

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should be interesting next month when the interims are announced.

[1historyman] 01/8/2019 09:52

The future ability of MLPL to pay dividends to its shareholders (including to San Leon) will require future payments of dividends by Eroton to Martwestern and from Martwestern to MLPL, and also the settlement of MLPL’s Loan Notes obligations.

[1historyman] 01/8/2019 09:10

someone asked what will move SLE's share price, the answer lies within Eroton.
I guess the news isn't good as SLE would include Erotons accounts with their own.
Let's look at Eroton. Let's start with their debt profile.

They owe SLE
€141.1 million (US$159.7 million) of principal and interest on a cash receipt basis outstanding and payable as of 24 June 2019. Such receipts to date have been paid on behalf of MLPL due to the existence of guarantees to the Company under the Loan Notes instruments, as dividends have yet to be received by MLPL.

RBL398 mil u$ with a coupon of 11%, so that's interest of 43 mill U$ '
the loan has a late 2025 repayment date and the quarterly payments interest and capital is 25 mill approx. (according to SLE) so 28 payments at 25 mill = 700 mill u$

and have borrowed in the MPL

[1historyman] 31/7/2019 18:43

San Leon also announces that, pursuant to the exercise of warrants, an application has been made for an additional 250,000 ordinary shares in the Company to be admitted to trading on AIM ("Admission"). Admission is expected to take place on 26 March 2019.

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only in SLE world does 250k warrants equal 10 mill. GL

[1historyman] 31/7/2019 17:17

alaric7
31 Jul '19 - 16:42 - 48036 of 48036
0 0 0
Nobody has any clue

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links, something else u have got correct on a bit of a roll. Congrats.

[alaric7] 31/7/2019 16:42

Nobody has any clue or cares what you are jabbering on about history troll.

[1historyman] 31/7/2019 16:34

Exellent post Alaric, now if the new pipeline was not going ahead, started, etc etc etc,

oh dear another pipeline started, I guess similar to the Turkey pipeline, u really are a slimy character.

[1historyman] 31/7/2019 16:28

mclean91
Posts: 272
Price: 37.35
No Opinion
RE: In Fanning we trust
Tue 08:23
Exellent post Alaric, now if the new pipeline was not going ahead, started, etc etc etc, then why has eroton tendered new lines on existing pipelines. And why spend all that money too.

hxxp://takenotenigeria.com/2018/10/19/eroton-e-p-company-limited-statutory-notice-of-application-for-oil-license-oil-pipeline-act-cap-7-2004/

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oh dear links, your life is full of disappointment after disappointment.
have u sought help yet ?

[1historyman] 31/7/2019 16:20

These posts definately look suspiciously like a scam is being played out against San Leon energy and it's shareholders.
Linksdean

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yep but by whom ?

[alaric7] 31/7/2019 15:24

indeed as I suggested on the lse board earlier the trolls are very focused now on the new export facility, as it spells Endgame to all their nonsense. I'd be worried if I were them. In the meantime I'm afraid we're all going to have to put up with their endless barrage of toxic waste for a bit longer.

[callasjunkie] 31/7/2019 15:17

I've been crediting Mclean on the LSE board with locating the new pipeline development application dated October, 2018. As I was using my Tablet I couldn't read the text.

Now that I've access to a high-res screen, most but not all of it is legible.I'm not at all sure that this is what he suggests. It is an application for renewal of a 20 year pipeline development licence, and included references to spur lines that are to tie into the Nembe Creek Trunk Line.

Whilst conceding that it is not fully clear from the documentation, if this is not part of the application to back a new pipeline/FSO, then there's not a cat-in-hell's chance of it being complete for many, many months to come. That's if you are a 'believer'.

As I said above, I think it's just a negotiating tactic.