San Leon Energy Share Discussion Threads

[alaric7] 05/10/2021 07:51

you back here again to spread your bitterness at losing back in the Polish phase eh Junkie? you have said you don't hold san leon any more, so why don't you p off as you have nothing of value to add to this thread

[callasjunkie] 04/10/2021 19:30

'Cash cow' eh?

I think it must have a bad case of mastitis.

Or maybe you got the wrong animal. Try 'dog'

[callasjunkie] 04/10/2021 19:28

Thanks,Kempton,

Well, 'world-class' asset has certainly been re-defined.

Interesting set of results.

OML18 Oil production:

113,000 b/d. - 2016 Competent Persons Report forecast for 2021, excl gas
32,000 b/d - 2019 full year
25,200 b/d - 1H 2020
21,100 b/d - 2020 full year
6,600 b/d - 1H 2021

Yet despite this, San Lean earns a 1H 2021 profit of $8.1m, coming entirely from Loan Note income, of which only $0.75m was actually paid, the balance rolled up the valuation of Financial Assets...and of course no Loan Note capital paid.

Despite the 60% shareholder in MLPL being able to meet their debts as they fall due and the dramatic fall in Eroton's production, the carrying value of San Leon's investment in MLPL is written up by $7.7m!!!

If I were GTBank, I would be extremely worried.

However I reckon Linda Beale is feeling mighty relieved.

[pastyman3851] 01/10/2021 10:04

The company also noted that oil barging operations got underway in late September, whilst the operator awaits the new pipeline's availability. The full ACOES is expected to be operational in early 2022.So between 3-9months then

[1kempton] 01/10/2021 08:50

Post from redeyemines lse.

redeyemines

Posts: 752

Price: 39.968

No Opinion

RE: FYIToday 07:26

Morning Al,----- just don't think it is sinking in to some people.
-
-Don't quite know what that 6,600BOD is all about, but it feels like production may have been held back a bit until our pipe line and FSO become fully operational---(why waste it on a leaking pipeline)--we will see .

-Once everything is running SLE will be a fantastic cash cow .

[g1lo] 30/9/2021 20:08

Pastyman - same here. Been here since 2011 so anything else than great will not do. Today's RNS wasn't great. Everything s always looking good with San Leon but nothing ever come to fruition. 6000 BPD for the whole field?!! Am I reading properly? I must have misread. That should come out of one well! What do we get 10% of that? Wth! And Eroton has not paid us a penny for any of it for 5 years now on top of it. As you say Oisin was talking of 100 000 bpd potential not so long ago! Would be really funny if I wasn't invested here. Come on, surprise me Oising for a change. Still waiting for my 10p a share dividend. The last one last year was "ok" but 10 years wait deserves much more than that. I ll be waiting patiently (not much choice anyway).

[1kempton] 30/9/2021 19:08

Exellent news hpcg many thanks.

[hpcg] 30/9/2021 18:02

Deklar Oza1 well test update:

The initial flow testing of the L2.4 sand resulted in a flow rate of 10.3 million standard cubic feet of natural gas per day (“mmscfpd̶1;).
The initial flow testing of the L2.2 sand resulted in a flow rate of 1,361 barrels of oil per day (“bopd”)
The well is expected to be put on commercial production after the completion equipment is installed.
Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DKLRF) (FSE: A1U1) (the “Company”; or “Decklar”;) is pleased to announce the following update on the Oza-1 well re-entry at the Oza Oil Field in Nigeria, being performed by the Company’s wholly owned Nigeria-based subsidiary, Decklar Petroleum Limited.

Following the previously announced successful re-entry of Oza-1 and the test results from the L2.6 sand yielding 2,463 bopd, the Company has tested the remaining two sands, the L2.4 and the L2.2.

During the initial flow testing of the L2.4 sand, the zone produced at multiple choke settings ranging from 16/64 inch to 28/64 inch over the 25 hour testing period. The L2.4 sand is the intermediate of the three target zones of the re-entry program on the Oza-1 well and has 24 feet of gross hydrocarbon pay thickness. The testing of the L2.4 sand yielded a flow rate of 10.3 mmscfpd of natural gas of 0.58 specific gravity (“SG”, air being 1.0) on a 28/64 inch choke setting and flowing tubing head pressure of 2,250 psig during the last three hour period of the five hour flow test at this choke setting. In all tests there was zero basic sediment and water (“BS&WR21;). The SG being 0.58 indicates the potential for significant condensate yield and other Natural Gas Liquids (“NGLs”), which will form part of the Company’s gas commercialization strategy. With the regional gas pipeline infrastructure network within five kilometers of the field, the Company is excited for the opportunities the gas zone will present for the joint venture to participate in Nigeria’s transformational gas utilization initiatives.

During the initial flow testing of the L2.2 sand, the zone produced at multiple choke settings ranging from 16/64 to 28/64 inch over the 46 hour initial test period. The initial testing resulted in a flow rate of 1,361 bopd of 20 degree API sweet crude oil on a 28/64 inch choke setting and flowing tubing head pressure of 346 psig during the highest rolling average three hour period of the test at this choke setting. In all tests there was zero BS&W and an average gas oil ratio (“GOR”) below 150 mcf/bbl. The L2.2 sand is the shallowest target zone in the well, with 20 feet of gross hydrocarbon pay thickness.

Decklar is evaluating artificial lift strategies such as gas lift to enhance well productivity and plans to develop the L2.2 sand by drilling a horizontal well from the Oza-1 well pad drilling slot location immediately after completing activities on the Oza-1 re-entry. The horizontal development strategy will be intended to maximize reservoir connectivity while optimizing pressure drawdown at the sand face, resulting in improvement to stabilized long term oil production rates while minimizing both water and gas influx.

The proposed Oza-1 well initial completion plan will utilize a single tubing string completion string to produce from the L2.6 sand and immediately put the well on commercial production. The completion will be designed with sliding sleeve technology that will also allow production from both the L2.4 and the L2.2 zones in the future.

The Oza Oil Field has significant export and production capacity through processing facilities and infrastructure already in place and operational, which is anticipated to allow for the immediate export and sale of crude oil from the Oza-1 well.

Duncan Blount, CEO of Decklar Resources, stated “We are very pleased with these initial test results from the first three target zones of the Oza-1 well re-entry. After such promising well deliverability and commercial flow rates, we now look forward to completing the remaining Oza-1 well testing activities as we work towards commencing commercial production and drilling additional development wells.”

The foregoing test results should be considered as preliminary. Readers are cautioned that the test results herein are not necessarily indicative of long-term performance or of ultimate recovery.

[pastyman3851] 30/9/2021 14:43

Need the pipeline to come online sooner rather than later, 6600 boe is pretty poor when we were sold this asset with the prospect of getting it up to 100,000. Hopefully all the ducks line up for SLE, been here for about 10 years now, so need some great news to come

[pejaten] 30/9/2021 12:37

It is down v 12 months ago because in H2 2020 they purchased US$15 million of ELI loan

[1kempton] 30/9/2021 09:29

Income lower by the looks bernie, profit up though 8m from a loss last report of 20m..

[bernieboy] 30/9/2021 09:00

Cash down from 35.6m to 12.1m in a year. Is the cash burn normally that high or is the income that much lower?

[1kempton] 30/9/2021 08:05

Rns..

Barging has commenced to EA already, with pipeline to start oil transportation early 2022..

[1kempton] 27/9/2021 22:32

Oil at over $80 per barrel in Nigeria..Exellent

[alaric7] 27/9/2021 17:40

hxxps://oilprice.com/Energy/Oil-Prices/Goldman-Sachs-Hikes-Oil-Price-Forecast-To-90.html

[hpcg] 27/9/2021 11:54

Oil could be in the 80s by the time this trades again. Should be quite a hefty gap up IMO.

[alaric7] 23/9/2021 22:31

indeed. some posters here seem (or choose)to forget that our loan is secured on OML18. personally i'm pretty chilled about the last rns and, whether we get more extensions or not,sounds to me like it's down to the lawyers now. this will simply be a fab deal for San Leon and Jite.

[hpcg] 23/9/2021 15:50

Yep, pencils sharpening to get a more than generous slice of Mid-Western. SLE can cut off negotiations at any time and trade instantly.

[alaric7] 21/9/2021 20:51

yep and while you're about it @janepain, do yourself a favour and book a session with a shrink

[mratranslate] 21/9/2021 17:12

@janekane how about you go f yourself? we can see all your old posts obviously so stopping wasting everyone's time here and leave the rest of us to make money. bye and have a nice day :)

[janekane] 21/9/2021 16:53

Alaric7 why hasn’t the bill being paid pencils are in the sharpening machine

[alaric7] 21/9/2021 11:21

indeed kempton and this extension is to end of month not year. jeez, which hole do these posters climb out of?

[1kempton] 21/9/2021 09:47

I'm sure sle management know all this and have it in hand