San Leon Energy Share Discussion Threads

[wsm812] 08/1/2024 08:52

Not sure if the RNS is encouraging or detrimental to the future of SLE! All rumours are still on the cards.

[bumpia] 05/1/2024 03:25

Seems TRAM got conned by tingo and decided to stay away from Nigeria all together. Wonder if head will roll in NY

[callasjunkie] 04/1/2024 14:45

WsM812, in a full winding up and if the company was insolvent, ie its creditors exceeded its assets, then it would have extreme ramifications for SLE.
MidWestern's shareholdings in both SLE and MLPL would have to be sold.

However,taking a winding up petition is usually a last resort tactic to get payment. If MidWestern hasn't the funds (and in this situation is extremely unlikely to borrow them from another banking source) Jite Okoloko might stump up. The amount at issue is less than $20m in naire. I think Jite though might have his own problems...Eli Infrastructure, Eroton and Notore all have major finance difficulties and his wife (ex wife?) is pursuing him through the US law courts for a substantial settlement.

A mess is something of an understatement.

[callasjunkie] 04/1/2024 11:10

hxxps://thenigerialawyer.com/nova-merchant-bank-seeks-to-wind-up-midwestern-oil-over-n1-6bn-debt/

[wsm812] 04/1/2024 10:50

@Horndean Eagle - is this your opinion or are there facts? I cannot find any news since the November announcement.....

[outsizeclothes.com] 02/1/2024 10:27

New Year - no announcements - ????

[horndean eagle] 26/12/2023 19:33

New investors were a bunch of shysters. Shared a stage with Tingo. Some very red faces for having been taken for a ride. Obviously needing to work hard on a plan B now.

[witheco] 22/12/2023 20:11

"No news is good news"........for how long? 3months, 6 months, 2 or 3 years?

[plasybryn] 18/12/2023 20:39

As you say ....no news is good news, especially in this case.

[alaric7] 18/12/2023 20:16

if the deal had fallen through then Oisin would know he would have to issue an rns. if in the unlikely event he imagined he could duck it the nomad wouldn't let him period. a far more likely explanation is that transferring funds from the US to foreign jurisdictions is pretty regulated. so when TRAM and us both say the funds have been sent, both parties are telling the truth. i understand that regulatory clearance in the US can take some time. that explanation doesn't suit the trolls' agendas so they take the opportunity for a cheap and ineffective pop at Oisin. hopefully even inexperienced readers are not taken in.

[wsm812] 18/12/2023 10:03

Has something official been released? I have not read anything......

[dead duck resources] 17/12/2023 13:54

They can say the money's no longer there but can never take the interview on Malcy's
blog away from us. It was the highlight of the year for long-term San Leon investors.

[pastyman3851] 17/12/2023 13:38

It'll probably come to pass, they always seem to be able to do the deal, despite many many delays, and if youve been invested in SLE for more than a couple years you'll be used to their "flexible" deadlines. I've gone through about 15yrs of transformational deals and yet the share price is about 95% less than when I started. I have been rather lucky, when covid hit and this went to 11p I purchased a large holding and then sold it all for 44p, but if I hadn't done that, I would have quite the paper loss.GLA I still have a small holding. But it's more for sentimental reasons than as an investment

[outsizeclothes.com] 15/12/2023 16:45

Unfortunately it now looks like the worst case coming to pass.
No money after empty promises - again :-(

[leopoldalcox] 27/11/2023 19:59

The sad thing is, even if this does come through, I imagine a lot of us will be sellers once the opportunity arises. Too much frustration and suspicion for this company

[echoridge] 27/11/2023 08:07

Actually, I reckon the money likely IS coming one way or the other, otherwise the NOMAD would have compelled the Company to say so. I admit that it's been nearly 2 months since the original deal with TRAM was announced, but that's kind of the point. Given the time they've had to investigate, if there weren't a credible reason for the delay or evidence that the funds were in fact sent in the first place, I reckon the NOMAD would never have allowed a statement like this morning's to go out in this massively overly cautious AIM reg environment. Therefore, the most likely scenario is that there IS evidence of the funds having been dispensed and, for some reason that cannot be disclosed yet, they are stuck in the settlement system (notice I wrote 'most likely'. I am certainly not discounting other, more negative explanations, and that also doesn't mean my partial explanation won't end in tears), and thus we will likely get a further update reasonably soon.

[wsm812] 27/11/2023 07:46

My hopes were high on this, but fortunately not fully pinned on it.

[bones698] 27/11/2023 07:38

The money isn't coming it sounds extremely ropey to say the least and this wild end up not happening and sle will be in dire straights . Seen it all before it's not like it's a reputable company so I would be worried .

They sent the money twice but it never got there lol really

[philby1] 27/11/2023 07:10

That's not sounding good! :(

[wsm812] 21/11/2023 07:57

Mid Nov is what Oisin hinted at. One could argue that we have passed mid Nov already....

[plasybryn] 17/11/2023 15:29

Was it suppose to be mid Nov. when the shares return from suspension?

[panadin] 04/11/2023 09:25

on the plus side, the $125mill should be in SLE account early next and put some flesh on the bones to move on from here.

[bones698] 03/11/2023 23:22

Looking a lot like a Nigerian scam tbh . All looks very ropey having to pay off people all over the place .

[plasybryn] 02/11/2023 17:59

Thanks philby1