San Leon Energy Share Discussion Threads

[carcosa] 03/12/2021 15:15

Sorry, I thought you were referring to delisting rules related to length of time being delisted.

WHat will happen; assuming the RTO occurs, the listing for San Leon Energy will ultimately be cancelled although in practice cancellation San Leon's admission and the re-admission of the enlarged group will occur simultaneously, meaning that in practice existing shareholders will not notice anything of concern.

[pejaten] 03/12/2021 08:53

surely the rules you referring to relate to cash shells and investing companies only?
SLE is only suspended because the acquisition is so much larger than the existing business. In these circumstances, rule 14 clearly states that "where shareholder approval is given for a reverse takeover, trading in the AIM company will be cancelled. If the enlarged entity seeks admission, it must make an application in the same manner as any other applicant". In other words if the RTO takes place the existing listing will be cancelled anyway and SLE will have to apply to be readmitted

[janekane] 03/12/2021 07:24

Carcosa can you copy and post the rule change you reference to regarding suspension
Thanks in advance It’s a good position to be in if someone like you has this vital information at hand

[pejaten] 02/12/2021 03:53

I would imagine that SLE will raise fresh cash and / or give some of the exiting large investors chance to sell down when relisting?

[kaos3] 01/12/2021 22:26

87 % of the Co is owned by 3 entities

I expect some changes there in the long term.

why being public for the small float?

[alaric7] 01/12/2021 21:09

maybe, with over 72% of the company today, Martin Hughes may have some idea? whatever value we notionally ascribed to our 10.5% of OML18 previously (and let's face it this was never reflected in the share price pre suspension), it would have been based on $27 oil (the prevailing price when we funded Jite's first move on OML18 in 2016. that and, whilst clearly a world class oil field, OML18 had been self evidently under invested over time by its previous operator - Shell - and most particularly in relation to its oil evacuation. so it was and still is hugely underperforming. so the question investors should be focusing on is what value might now be ascribed to 45% of this licence (assuming as indicated that Sahara get taken out) with a well funded regional operator and a brand new secure oil export system at $70+ oil? i recall the original submission docs projected OML18 selling well over 100,000 bopd. so here we are a bit late maybe but with the maths significantly improved - roll on the rto.

[tygwyg] 01/12/2021 17:00

Absolutely haven't a clue... and no one does... SLE holders have no idea what size of the enlarged pie will be attributed to them.

[red5] 01/12/2021 13:00

I really it comes back soon seems to quite a long time. what kind or re-rating could we be looking at?

[alaric7] 01/12/2021 11:22

it's a troll, carcosa. fortunately we've managed to clean up most of them from this board now. AIM has become a pain and am sure the bod want out asap, maybe after the rto?

[carcosa] 01/12/2021 07:58

Jane, Your statement would have been correct pre-COVID but current rules are such that they can remain delisted for 12 months before getting the 'boot'.

Having said that I would prefer they did delist from AIM and relist on AQUIS; but then I am a shareholder in AQUIS so I would say that :-)

[janekane] 01/12/2021 07:33

The problem of getting access to this massive debt is now becoming very clear we have 19 working days to Lift the suspension or we get the boot from the Stockmarket listing

[porsche888] 29/11/2021 14:01

In light of today's very positive news, I think holders should be very happy and I can pretty much see a generous re rate when this comes back to the market.

[philby1] 29/11/2021 13:38

Malcy says:

Whilst it remains irksome that the work on the documentation continues and the shares remain suspended, there continues to be added value for San Leon shareholders building throughout the process and with it the potential for a substantial distribution to shareholders in due course.

[dogwalker] 29/11/2021 12:40

Thanks both.

[alaric7] 29/11/2021 12:13

thanks hpcg. being laid though the water ways and then on the seafloor out to the FSO means that they are now not only very difficult for the oil thieves to access but also that high speed security launches can get to any attempted breach immediately. (modern oil pipelines come with fibre optic security systems)

[hpcg] 29/11/2021 11:30

Alternative Crude Oil Evacuation System - stop using land based pipelines which have huge losses, and pipe out to an FSO.

[dogwalker] 29/11/2021 11:06

'ACOES'...alaric7, please remind what this stands for.

[plasybryn] 29/11/2021 10:40

Thanks kaos3

[kaos3] 29/11/2021 10:39

Plasy

yes - I understood it the same way .... debt repayment, infrastructure, add on opp etc

I also got the feeling it will take a long time ..... to relist (merging all those Cos one by one into one unity, getting regulatory approval along the way in Africa and elsewhere ...)

but economic reality works non stop ... for us .... I hope

so I do not care.... as long as it goes our way

[alaric7] 29/11/2021 10:26

"Eroton's new loan term sheet and its consequential proposed acquisition of an additional interest in OML 18 demonstrates the widespread and ongoing support for OML 18 as a world class oil and gas asset."
so bluerill was calling it right when he said

'the massive refinancing package at Eroton ...is going to anchor this RTO and the creation of AIM's largest independent oil and gas company'

so we now just need an update on the ACOES to complete this most virtuous of circles. the facts that Eroton has done this huge refinancing on the back of OML18 and that the proposed deal sees a 'new' San Leon take a much bigger interest in it, announces loud though that all's well with the new pipeline etc

[plasybryn] 29/11/2021 08:38

I would have liked to have been given an outline indication of how long it will take to relist. Does this mean basically less dividend income in the short term but potentially more in the longer term? Is that the bottom line?

[janekane] 29/11/2021 08:02

the "AIM Rules")) and to carry out due diligence.

In accordance with Rule 14 of the AIM Rules, the Company's ordinary shares will remain suspended from trading on AIM until such time as either an AIM admission document is published or an announcement is released in the event that the reverse takeover in contemplation is not proceeding.

Given the need for binding contractual documentation and applicable regulatory consents, there can be no guarantee at this stage that the Potential Transaction (including the proposed debt and equity investments by San Leon in ELI) or the Proposed Eroton Transaction will be entered into or, if entered into, that they will complete.

[1kempton] 29/11/2021 07:34

Eroton taking sahara out giving them 45% of oml18, if rto concludes we will have 98% economic interest in eroton and our % goes up too...fantastic

[kaos3] 29/11/2021 07:33

getting huge ....

40% ownership of a project that gets a 750 M loan .....