San Leon Energy Share Discussion Threads

[1historyman] 27/8/2019 15:22

Nigeria's oil production cost among 10 world's highest.

Emeka Ugwuanyi
The Nation.

[1historyman] 27/8/2019 14:39

today's quiz.
spot the difference

PVR
20 Aug planned mobilization to Ireland, which is expected to occur later this week.

27 Aug planned mobilization to Ireland, which is expected to occur later this week.

…...…230;……...……̷0;….

oh dear, not very reliable are they over the Irish Sea, it must be those leprechauns.

[1historyman] 27/8/2019 14:26

so if PVR ever receive the funds they will be entitled to the equivalent of 8.8 > 4.5%
NPI's, of which one they hold one on behalf of SLE.
If u check the market cap of PVR it equates nearly to the value SLE have attributed
for their one percent.
someone is taking the Pittheus.

[1historyman] 27/8/2019 14:22

PVR
planned mobilization to Ireland, which is expected to occur later this week.

………;……̷0;……R30;…...

looks like dejapoo to me.

[linkdein] 27/8/2019 13:49

Providence Resources P.l.c. - Update on Barryroe Farm-out Transaction
Tue, 27th Aug 2019 07:00

FOR IMMEDIATE RELEASE

Update on Site SurveyOn August 9, 2019, the Company received permission from the Minister of State at the Department of Communications, Climate Action and Environment to undertake a seabed debris clearance, environmental baseline and habitat assessment site survey (the “site survey”) over the area of the Barryroe field within SEL 1/11. Whilst the implementation of the site survey is subject to the receipt of funding from APEC or alternative financing arrangements being put in place, the Company has agreed payment of the contractual mobilization fee to ensure that the contracted vessel can mobilise to Ireland.


"The nominated vessel is currently finishing up current activities in the North Sea prior to the planned mobilization to Ireland, which is expected to occur later this week."

[1historyman] 27/8/2019 09:25

Extension of Backstop Date
As at close of business on August 26, 2019, no funds had been received in the Company’s account but the Company has received assurances that the US$ 9 million loan advance due under the Updated FOA is in the process of being paid. Accordingly, the Barryroe Partners have agreed to a backstop extension of on or before September 2, 2019. In the event that the loan advance is not received from APEC by the revised backstop extension, and noting the creditors on the balance sheet and existing forward commitments, including the planned site survey at Barryroe, the Company would need to put in place alternative financing arrangements in order to provide it with sufficient working capital beyond the end of the third week of September 2019.

PVR

[1historyman] 27/8/2019 09:18

NNPC Records 77% Rise In Vandalism Of Its Pipelines ...
hxxps://www.internewsnetwork.com/nnpc-records-77-rise-in-vandalism-of-its-pipelines

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it recorded a 77 per cent rise in cases of oil pipeline vandalism on its network of pipeline infrastructure across the country in June 2019. It said in a statement from its Group General Manager.

[1historyman] 27/8/2019 09:14

mclean91
Posts: 307
Price: 33.70
No Opinion
RE: In full swing
Sun 21:54
linksdean posted it Alaric on iii so nothing to do with me, but the trolls certainly want to stifle the posters info.......got to ask why!!.

...……

I genuinely do feel sorry for u, seek help.

[1historyman] 27/8/2019 09:12

mclean91
Posts: 307
Price: 33.70
No Opinion
RE: In full swing
Sat 10:38
It looks like it and from 2017.
From links iii

hxxp://kohasaeng.com/engineering/

Project management and Support Services for Alternative Crude Oil Export system Pipeline Project (ACOES)
Provision of Project management for Alternative Crude Oil Export system Pipeline Project (ACOES)
Project Management
Eroton Exploration & Production Company Ltd.
Oct. 2017 – Dec. 2017
264 MHrs
Completed

Awoba-Krakama-Cawthorne channel 3 Alternative Crude evacuation Pipeline Project
Provision of Conceptual studies and Front End Engineering Design
Conceptual Studies/ Front End Engineering Design
Eroton Exploration & Production Company Ltd.
Jan. 2018 – May. 2018
1328 MHrs
Completed

Cawthorne channel 1 to Cawthorne channel 2 Alternative Crude evacuation Pipeline Project
Provision of Conceptual studies and Front End Engineering Design
Conceptual Studies/ Front End Engineering Design
Eroton Exploration & Production Company Ltd.
Feb. 2018 – May. 2018
1328 MHrs
Completed

Engineering Design Service Agreement for OML 18
Provision of Engineering Design Service for various work packages on OML 18 for Three Years
Engineering Service Agreement
Eroton Exploration & Production Company Ltd.
Jun 2016 – Jun 2019
Contract Ceiling Applicable
Projects are Ongoing on the ESA

[alaric7] 25/8/2019 22:20

he can spin as much as he wants,echoridge, but judging by the tenor of his recent rants he is losing the plot here now. his repetitive narrative has become turgid, lacking in any perception and increasingly redundant and irrelevant

[echoridge] 25/8/2019 18:49

The key to combatting this syphilitic individual is to overcome his mind games by remembering that he is not only completely unencumbered by ethics or morality, but that he's also untethered to reality. His entire thesis, if he has one, is that past is prelude, and that any and all mistakes the company has made to date (nearly all of which occurred when it was an entirely different enterprise), are somehow still of contemporary relevance, that the OML18 transaction was not in fact transformational and thus there is some kind of malevolent, ongoing conspiracy which continues to this day. That way he can blithely ignore consistent - if slower than we'd like - value-creating progress in Nigeria, alongside his endless string of wrongful predictions, and focus instead on operational details which, for a company whose shares are ALREADY priced at a discount to cash-on-hand plus future, OVER-COLLATERALISED cash receivables, amount to little more than trivial nitpicking. Furthermore, for him, they serve his effort to try and distract from what is obvious to most everyone else: namely, that from here, all the company need do is execute on ANY of the multiple value-enhancing efforts already well underway - from revenue boosters like alternate evacuation schemes for their output while building a new pipeline, to completing that new pipeline, to new drilling success, as well as simplifying the OML18 ownership structure by bringing the OML18 partners closer together (eg., Jite/Midwestern's recent massive share purchase), all of which offer real prospects of real benefits to SanLeon shareholders - and the share price can and should fly. And I haven't even gotten to further announcements on dividends or buybacks, and you can bet that Jabba won't either, unless of course he can figure out a way to somehow spin a return of capital into something sinister.

[alaric7] 25/8/2019 12:49

brilliant spot linkdein. so the new pipeline and FSO have been planned for longer, certainly than i had previously realised. 2 obvious points strike me immediately from this information:1 that Eroton and SLE have clearly been keeping progress here pretty quiet and 2 this is first concrete evidence that things are more advanced on this than many were imagining. this won't play well with the Troll non-holders, who seem to have got it badly wrong yet again. (for the record, counting just Avobone, Sun Trust, quarterly payments, licence renewal and now the export facility, that's 5 substantive issues they've miscalled in recent months - that's a pretty abysmal return. whoever their paymasters are,i think questions will be asked now).

[alaric7] 24/8/2019 16:11

i think the answer to your last question, echoridge, is Jabba. noticed he posted nearly 20 times the other day, which i didn't read but the posts appeared to be ancient or irrelevant history. maybe he assumes, since he clearly doesn't have a life, that neither do we? he's one sad basket, that's for sure.

[linkdein] 24/8/2019 06:08

From links ii yesterday

linksdean

very interesting info this regarding eroton (ACOES) 2017!!!

hxxp://kohasaeng.com/engineering/

Project management and Support Services for Alternative Crude Oil Export system Pipeline Project (ACOES)
Provision of Project management for Alternative Crude Oil Export system Pipeline Project (ACOES)
Project Management
Eroton Exploration & Production Company Ltd.
Oct. 2017 – Dec. 2017
264 MHrs
Completed

Awoba-Krakama-Cawthorne channel 3 Alternative Crude evacuation Pipeline Project
Provision of Conceptual studies and Front End Engineering Design
Conceptual Studies/ Front End Engineering Design
Eroton Exploration & Production Company Ltd.
Jan. 2018 – May. 2018
1328 MHrs
Completed

Cawthorne channel 1 to Cawthorne channel 2 Alternative Crude evacuation Pipeline Project
Provision of Conceptual studies and Front End Engineering Design
Conceptual Studies/ Front End Engineering Design
Eroton Exploration & Production Company Ltd.
Feb. 2018 – May. 2018
1328 MHrs
Completed

Engineering Design Service Agreement for OML 18
Provision of Engineering Design Service for various work packages on OML 18 for Three Years
Engineering Service Agreement
Eroton Exploration & Production Company Ltd.
Jun 2016 – Jun 2019
Contract Ceiling Applicable
Projects are Ongoing on the ESA


interestingly Mr Benson Ezeigbo… has been working for eroton since april 2018 and is the main guy to "deliver the $200m (ACOES).

hxxps://uk.linkedin.com/in/benson-ezeigbo-p-eng-bb138016

Anchor Person in Projects and Facilities Team accountable for the interfaces and integration required to deliver the $200 million Alternative Crude Oil Evacuation System (ACOES) Project, which involves installation of interconnecting pipelines, in-field dehydration system, export pumps, lease automatic custody transfer units (LACT Units), manifold and pig trap systems, dry crude export bulk line and floating, storage and offloading system (FSO).

 

[echoridge] 23/8/2019 13:03

today's takeover exam:

1. how many bbls of oil has OPL276 produced thus far: Ans. 0, 0 or 0?
2. how much will LEK and its partners need to spend, and thus how much debt will LEK have to take on, to get to production? Ans. unknown, not revealed, lots?
3. How much time (and money) will the following require?: '...The Acquisition is conditional upon, among other things, the extension of the term of the Licence and the PSC, obtaining the consent of the Nigerian National Petroleum Corporation ("NNPC") and obtaining the approval of the Minister of Petroleum Resources of the Federal Republic of Nigeria (the"Ministerial Approval")....' Ans. Probably not long - or that much - but just imagine in SLE included a condition like this, what a big deal the trolls would make of it).
4. how big a shameless, craven piece of soulless excrement is this sophist? Ans. huge, Mr Blobby-sized, Jabba the Hut?

[1historyman] 23/8/2019 08:59

today's quiz.
how much is Lekoil paying for a 45% interest in OPL276 production sharing agreement ?

is it

£1 Mill
£5 mill
£50 mill
£250 mill

GL

[1historyman] 23/8/2019 08:56

Commenting, Lekan Akinyanmi, LEKOIL's CEO, said, "The acquisition of an interest in the OPL276 PSC represents an excellent opportunity to further build our growing production base in line with our stated strategy to create a balanced portfolio of assets. With the completion of this, LEKOIL will have acquired a potential near-term producing asset with significant resource potential. We are optimistic about the prospects here, which have shallow reservoirs and are cost efficient to develop. Our focus will now shift to moving plans quickly forward for oil and gas production. We look forward to working with our partners to unlock additional value for our investors."

The Licence Background
The Licence was formerly operated by Shell Petroleum Development Corporation (SPDC) as OML 14 until 2004. It is located in the eastern Niger Delta basin at the estuary of the Calabar River, within a transition zone, which consists of dry, flat land, fresh water rain forest swamps, mangrove swamps and beaches in Akwa Ibom State. The asset is partly onshore (land and swamp) and partly shallow marine (tidal river estuary) block, comprising 524 sq. km, of which around 250 sq.km is located offshore and 274 sq.km is located onshore. Discoveries have previously been made in the Licence (Uda, Okposo East, Mbo and Davy Bank Fields). The Licence is in the PSC signed in 2006, with Nigerian National Petroleum Corporation as the Licence holder and, prior to the Acquisition, Newcross (90 per cent., Operator) and Albright (10 per cent., Local Content Vehicle) as the contractor parties. As per unaudited management accounts prepared by Newcross, as at 31 July 2019, the Licence reported total assets of US$55 million.