San Leon Energy Share Discussion Threads

[nibbles1967] 29/4/2022 07:50

Their pr people need to go to precis school, their comms are as long winded and full of fluff as their investor relations

[alaric7] 29/4/2022 07:43

it is clear that the precise timing for the final pieces of this giant jigsaw to fall into place is out of san leon's hands. equally that there is a quiet air of confident expectation of the now looming close. i couldn't agree more Undertaker - bring it on!

[plasybryn] 29/4/2022 07:38

As long as it is 2 months. How many times has this already been dragged out? Talk about testing patience.

[undertaker] 29/4/2022 07:28

2 months is nothing in the grand scheme of things....bring it on!

[alaric7] 29/4/2022 07:25

"We believe that OML 18 is a world class oil and gas asset. Our plans to further enhance our involvement in this asset, via the Potential Transaction, have the potential to be very significant. A huge amount of work has been carried out and a great deal has been achieved to progress this transaction in the last few months. We now currently expect to publish an admission document in respect of our Potential Transaction in June 2022. This we believe will deliver a transformational deal to the Company which will put San Leon in a very strong position as a significant player in West Africa with the potential to deliver considerable future value to all our stakeholders. We look forward to providing further updates in due course."

[pejaten] 29/4/2022 07:15

another 2 months....

[red5] 28/4/2022 20:49

TAKING TOO LONG

[leopoldalcox] 28/4/2022 19:19

28 Feb 2022 update:Further to the Company's announcement on 24 December 2021, the Company now currently expects to publish an AIM admission document (the "Admission Document") in respect of the Potential Transaction by the end of April 2022, following which point the Company will seek the restoration of trading of the Company's ordinary shares on AIM.I expect an rns, even if they miss, to provide an update. Anything less would be poor

[alaric7] 23/4/2022 10:42

my instinct is that inter San Leon and Jite, the deal for the RTO is done. what we need to remember is that this is inextricably linked with a number of legal agreements that have to be closed and that these are outwith San Leon's control. the whole structure of this multi hundred million dollars and multi-faceted set of linked transactions pivets around Eroton. San Leon has just over a 39% interest in Eroton. so, while Eroton is controlled by friends of San Leon, clearly San Leon isn't in the driver's seat. one linchpin to this deal (there are more than one of course) is the so called 'Proposed Eroton Transaction' whereby Eroton acquires an additional 18% of OML18 from 3rd party holders (importantly including Sahara). and to achieve this it needs to complete on its new reserve- based borrowing facilities with the syndicate led by Afreximbank (this is the much vaunted $750m - 'the Proposed Eroton Debt Facilities'). and in order to do that it has to close new offtake arrangements from the FSO (i'm guessing with Shell, who, if i'm correct, therefore will also be part of the lending syndicate). and in order for that to happen ELI has to demonstrate the new barging arrangements to the FSO. so, as can be seen, the complexity of this RTO deal is its dependency on a number of other things happening, let alone no doubt a load of regulatory consents and cps. dealscas complex as these can and do regularly take this long and longer. finally it's difficult to imagine what else management can legally and reasonably tell us now until this thing is done.

[pastyman3851] 22/4/2022 19:25

Not as much as he'd like though after his financing fell through for the 21milliom shares from tosca

[g1lo] 21/4/2022 23:01

Been in this for 10 years and have seen many rather strange and complicated deals and situations over the years with SLE but this one is epic : how entangled the deal can be to take 10 months (so far) to sort out. Yes on paper it seems rather large and positive but come on it is not the mega deal of the century either. Either parties want to make it work or not. Nothing takes that long unless they are some kind of complications and if there are then it s never explained. Take it or leave I supposed still doesn't make it right. By experience it s never the best when they leave it go to the wire but who knows they might surprise us. Can't help to think what Tosca saw and still sees in San Leon...either they know that eventually it will be worth it and then all good for all or they are stuck with it like me and have no choice than to wait. Answer by next Friday

[gary hindsight] 21/4/2022 18:20

Nibbles on one hand the proposal as suggested whereby a tranche of shares would be issued to existing shareholders and those would get the expected dividend of the cash flows from the existing arrangement show actually management are considering existing shareholders although one has to remember mr fanning will also benefit from that arrangement as a large shareholder. But on the other hand this seems to have taken an unprecedented amount of time and makes one wonder even if it will happen at all. Are they still arguing over the fine print who knows. The lack of tangible news or updates on progress is not good and there I would agree management have been opaque throughout this process

[nibbles1967] 21/4/2022 17:34

I think their behaviour has been unprofessional and disappointing - we own the company, let's not forget

I'm selling my entire holding (which is quite significant to me) as soon as the market reopens as I've learned enough about the management during this extended hiatus

[gary hindsight] 21/4/2022 17:09

This has been suspended since June last year. Isn't there some regulation about timeline for reverse takeovers? I thought it was six months so not sure how long this can go on for. Any views?They only have 6 days left to come up with the proposal according to last rns but seems like it's going to the wire and that makes me a little nervous. Good news travels fast bad news is delayed. Of course nothing I can do about it anyway

[red5] 20/4/2022 08:05

they were meant come back by the end of this month

[dogwalker] 19/4/2022 20:54

We'd all like to know that RED5! As soon as next month maybe? It's a job to know.

[red5] 19/4/2022 19:28

What is happening with this one when are they coming back on to the market

[red5] 04/4/2022 16:30

Could be but the ones I have had in the past did well

[1kempton] 01/4/2022 22:13

Fingers crossed LA..

[leopoldalcox] 01/4/2022 11:48

Should be completed by the end of the month per most recent update

[hpcg] 01/4/2022 11:10

I have always considered Barryroe as worth nothing. I suppose in this environment there is the potential for a farm out or sale, but fundamentally it isn't a viable field which is why it has never been developed.

[1jbrisky] 01/4/2022 09:21

Simon Thompson notoriously ambitious with his 'Sum of the parts' share price targets. A quick look at his other tips would tell you that many (most) nowhere his predictions so would take 82p with a pinch of salt. Doesn't change the fact that we should undergo a substantial rerate though dependent of course on the final conditions and proposed outstanding payments in lieu of reverse takeover.

[red5] 01/4/2022 08:09

Its on their website in FEB

[nibbles1967] 31/3/2022 15:31

i can't find that IC article that mentions 82p - when's it from please ?