San Leon Energy Share Discussion Threads

[alaric7] 24/3/2023 09:36

agree WsM don't know what the fuss is about, unless people just want to make mischief? this is no different to what we know already and is clearly nomad driven. i was heartened to hear the positive deal update, so it's now absolutely clear that Sahara's shenanigans haven't worked and the Afreximbank facility of $750m is still there (otherwise the nomad would required a statement to that effect in today's rns). folk should remember that Sahara are financially stressed and NNPC are in a huge mess organisationally and politically. also we are owed massively more than we owe. people who think this deal should have been done quicker have clearly never worked on something of this magnitude or complexity. therein lies one of the problems of these boards - too many boys with too little experience, doing the bidding of their masters, the short funds.

[yohoho] 24/3/2023 08:33

A realist. Ive seen this too many times. You will lose everything.
And sneaking out such an admission of trading difficulties on a Friday, when they hope no-one is paying attention, is a sure sign of BIG problems.

[wsm812] 24/3/2023 08:27

You are very negative for someone with such a jolly username yohoho. Try and contain your pessimism, I am aware that misery seeks company but you will not find an ally here.

Some possitive news from the announcement: The Board continues to believe that the Proposed Transactions will be transformational for the Company and it continues to work towards their completion.

[yohoho] 24/3/2023 08:19

And there you have it. We are running out of money, can't pay our creditors and deals we are trying to advance are heading for the long grass. Abandon ship now before the inevitable suspension and collapse.

[yohoho] 23/3/2023 15:29

You really don't know much about this company do you? Go back and read the old RNS's and you will understand the comment. Don't show your ignorance.

[yohoho] 23/3/2023 08:34

Let's not forget Turkey

[witheco] 23/3/2023 08:12

The San Leon Office lights will always be kept on - it will just find another bunch of suckers to pay the bills, by reinventing itself from Poland to Nigeria, and Linksdean to Alaric.

[yohoho] 23/3/2023 07:51

As you say Alaric this is Nigeria. This will rumble on for months, if not years, by which time the lights will have been turned off......

[alaric7] 22/3/2023 10:45

'am I just deceiving myself here?' leopold, i don't think so but you are concerning recovery of their debt if the deal doesn’t go through. the debt is secured on OML18, which, if you think about it, makes this pretty unlikely. in the unlikely event that it doesn't and Midwestern default on the loan we'll be collecting from a considerably bigger percentage than 10.5%. i'm as frustrated as the next guy by the missed timelines but we should cut the company some slack. first this is Nigeria and we all signed up to that risk, which has now manifested itself in Sahara's shenanigans, second this remains a pretty commplex deal. i think i'm as well read on the details of this deal as anyone on this board but many aren't and get frustrated by their lack of understanding as much as anything. the great plus of this deal is that it completely resolves the complexity and the resulting structure will be much cleaner.

[leopoldalcox] 22/3/2023 09:38

It does seem that way Witheco. Seems like I have held on for too long waiting for it all to come together. I ask about the pipeline because, saying the deal falls through, and saying that SLE can't recover the debts owed, they would still have the pipeline stake and their 10.5% interest in OML18, I think?Would that be worth the market cap now? Assuming the pipeline gets them to 40,000bopd, that's around 4000 net to SLE, and then the pipeline revs as well. Or am I just deceiving myself here?

[witheco] 22/3/2023 08:45

The timelines are always missed - there is a huge repository of information on this company and consistently, again and again, since the inception of this company targets are missed and then eventually they pull out and find another enticing prospect or country to sucker the shareholders in and cream off the gains.

[leopoldalcox] 22/3/2023 01:17

I notice Simon Thompson moved this to "hold" at end of Feb. I've held my shares, regrettably. No idea what's happening and it's certainly making me nervous. According to previous guidance the pipeline should be up and running by end of March, which I assume is late. These timelines are always missed. Anyone heard anything more recent on the pipeline?

[alaric7] 21/3/2023 20:36

don't give up the day job just yet, yoho :-)

[yohoho] 21/3/2023 08:42

Timber.............

[witheco] 20/3/2023 08:45

Sweet dreams.

[alaric7] 15/3/2023 21:19

yawn...zzz

[callasjunkie] 15/3/2023 20:51

Correction: N17,807,766,000

[callasjunkie] 15/3/2023 20:49

So, for the third time, did you follow your own advice of 10 February when advising others to buy when the market price was 32p?

Surprised a Maths guru couldnt divide N17,507,766,000 (in Notore's accounts) by 460 (exchnge rate) to get $38.7million. You somehow got an answer of $10million and proceeded to misinform others on this board that this was the correct figure. If you didnt bother to do the calculation, your misinformation was willful.

[alaric7] 15/3/2023 19:58

boy you are beyond pathetic, Junkie, if that's the best you can come back with. i'll lead off then. sure i got an A in my maths A levels which included calculus and integration. i doubt you even know what they are. your go?

[callasjunkie] 15/3/2023 16:49

But Alaric, you're not answering my questions.
Did you top up on 10 Feb when you were advising others to do so?

Also, did you fail arithmetic at school?

[alaric7] 15/3/2023 16:27

i'll tell you how it works, Junkie, you answer my questions and i'll answer yours. believe me when i say that won't be difficult for me but i won't hold my breath waiting for yours.

[callasjunkie] 15/3/2023 15:36

Alaric,

You posted on 10 February "Price is now at support level. You will unlikely get a better price than this if you want to buy in."

The price on 10 February was 32p. Price now is between 21 and 22p.
Anyone taking your advice is now down a third. Did you take your own advice...bet you didn't.

I'm sure you posted relatively recently that you dont give advice, only anaysis or words to that effect

[glavey] 15/3/2023 01:06

Pride. Fall.