San Leon Energy Share Discussion Threads

[echoridge] 16/12/2020 09:16

Let's see....that you don't follow or understand the first thing about equity markets and are little more than a dried-up old troll waving his flaccid fist at imaginary enemies?? Am I close?

[witheco] 16/12/2020 08:22

Question to ponder...Oil price chart has been trending upwardsSLE chart has flatlined What does that tell you?

[1kempton] 15/12/2020 09:17

Agree alaric, covid and the new major wanting in on this great asset has just slowed proceedings until jan that's all,

[alaric7] 15/12/2020 07:43

yep rns just now on Oza. as is the way of quite complex multiparty financings with various tranches of debt and equity, deadlines tend to get observed in the breach more than the observance. nonetheless a pretty upbeat tone to the announcement, i thought. as they've already announced,this is a done deal -they're just ploughing through the cps now.

[plasybryn] 14/12/2020 16:44

Proposed investment in Decklar Petroleum- The last RNS said parties agreed to an additional 3 week extension to 14th December. Presume that means an RNS tomorrow? Or have I missed something?

[plasybryn] 13/12/2020 08:31

Our family has finally got its withheld tax back on the San Leon dividend from the Irish Tax Authorities. Hooray. Now going through the same process with BASE Resources, but this one is registered in Australia.Hope everyone else has recovered their money.

[alaric7] 12/12/2020 22:13

10p? there's a guy on the other board who's been saying 9p . he's a fake as well. ha ha not fun guys to-be around!

[1kempton] 11/12/2020 09:18

Foo ken irriot...a lemon with not mushroom for brain .10p makes you the lemming and mushroom.....wok a foooo ken irriot indeed.

Benny Hill Chinaman...he hee

[ken chung] 11/12/2020 08:54

10p soon.Enjoy the drop.Lemmings and mushrooms only.

[1kempton] 10/12/2020 21:26

hxxps://oilprice.com/Energy/Energy-General/Oil-Hits-50-On-Vaccine-Rollout.html

[1kempton] 04/12/2020 18:41

hxxps://oilprice.com/Energy/Oil-Prices/Aramco-CEO-Sees-Meaningful-Oil-Price-Recovery-In-2021.html

[yellowdog] 01/12/2020 19:31

SLE must be a great way to play the PVR story.

There's a long way to go but lots of upside to SLE whist it plays out.

[1kempton] 01/12/2020 17:53

hxxps://www.share-talk.com/alan-linn-ceo-providence-resources-pvr-l-interview/#gs.mc1mor

[brian1944] 01/12/2020 16:13

1kemp you are correct

[1kempton] 01/12/2020 15:23

It's from the whole field yellowdog not just pvr.....

[yellowdog] 01/12/2020 12:49

SLE maybe the best way to play the PVR farm out although it's a couple of years off at least.

Does anyone know where SLE's 4.5 % comes from? Is it from PVR's 40 % or do all the partners pay their share pro rata ?

If it's PVR's obligation then that reduces their share to 35% or so.

[alaric7] 01/12/2020 11:11

really? i wouldn't say particularly interesting in the context of our core business in the niger delta, where we have some truly headline grabbing pieces of news on the horizon now (eg. commissioning of new pipeline, Oza Field loan to own investment). i've always viewed the Barryroe npi as bunce. totally risk and cost free to us with no dilution on farm out,it represents indeed another smart bit of work by Oisin. when it pays out, as it surely will with the likes of Schlumberger on board, it will be in the 10s of millions, which will add nicely to the funds for distribution to shareholders. in the meantime we have much bigger fish to fry

[witheco] 01/12/2020 08:44

Will be interesting to see how the market interprets this announcement in the relationship to the share price.

[1kempton] 01/12/2020 08:31

San Leon Energy plc

("San Leon" or the "Company")

 

Successful Farm-Out of Barryroe Oil & Gas Field

 

San Leon is pleased to note the RNS released by Providence Resources PLC (LSE:PVR) on 30 November 2020 confirming a Farmout Agreement has been entered into with respect to the Standard Exploration Licence 1/11, which includes the Barryroe oil and gas field.

The Farmout Agreement was entered into with SpotOn Energy Limited, a Norwegian-based resources company, who have partnered with market leading service providers Schlumberger, Aker Solutions, AGR, Maersk Drilling, Keppel FELS, Aibel AS for the subsequent development of Barryroe (for more information on the Consortium members see Providence Resources PLC's RNS of 31 July 2020).

San Leon retains a 4.5% Net Profit Interest over the Barryroe field, one of the largest undeveloped discoveries in Western Europe, with independently audited 2C resources of 346 MMboe and significant further resource potential in additional reservoirs.

Oisin Fanning, CEO of San Leon Energy, commented:

"The Farmout Agreement reached by Providence Resources and Lansdowne Oil & Gas with SpotOn Energy and its consortium of  international service providers is excellent news for San Leon. The farm-in partners are of the highest calibre and have all the requisite skills to bring a project of the scale of Barryroe into production.

"San Leon stands to benefit from every barrel of oil produced from Barryroe. Given the focus of the upcoming Early Development Programme is on expediting and growing initial production, the proposed programme should prove highly beneficial to San Leon.

"I look forward to drilling operations commencing in 2022 as outlined and wish all parties the best of luck."

[philby1] 30/11/2020 16:02

PVR farm out agreement just announced;

[philby1] 30/11/2020 15:58

Providence farm out agreement signed!

[1kempton] 28/11/2020 11:19

Barryroe now worth zero to sle at present, but with a 4.5% interest in production profits on the whole enlarged licence structure, this is going to worth 10s of millions a to sle.. and with no outlay... gas to be produced from as 18 months by what Alan Linn states in a proactive pres, says this is going full steam ahead.

Then their is the oza field, which holds 20mboe plus!!!.. large hydrocarbon structures found but never tested by shell, this imo could be more than double the amount of oil to be recovered as mentioned in the fox Davies pdf regarding decklar, sle will be paid first by the recent rns's and once paid will hold 30% of decklar and its production...

Then we have oml18, where we hold a 10.58% interest in erotons production, who have already paid sle back 190m through the loan notes scheme so we have that now for free, owed through interest is around 110m which will be repaid by end of next year of which sle have stated half will be returned to shareholders in dividends...

plus we have a 10% share in the new fso facility which from day one will increase production from 10kbpd to 50kbpd plus. There are other companies wishing to use this line who like eroton will have to pay in advance for every barrel that flows through the line, and sle receive 10% on every barrel..

With this increase in production eroton who sle have 10.58% will be able to pay dividends out to sle who in turn have stated to return half to us shareholders

All in all with cash in the bank and sle already paying a handsome 30% yield in the form of a 6p dividend earlier this year, things are looking really rosy for sle and its shareholders. .

More deals and dividends next year and all years as stated by our ceo..