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SLE San Leon Energy Plc

16.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
San Leon Energy Plc LSE:SLE London Ordinary Share IE00BWVFTP56 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 16.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 16.50 GBX

San Leon Energy (SLE) Latest News

San Leon Energy (SLE) Discussions and Chat

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Date Time Title Posts
10/12/202421:16San Leon Energy52,468
31/7/202222:27San Leon - all hype & no delivery?134
08/4/202118:51San Leon Energy - The New Positive Thread36,604
23/2/202121:57San Leon Shorters1,145
03/7/202011:12san leon energy52

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San Leon Energy (SLE) Top Chat Posts

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Posted at 20/9/2024 18:59 by kemche
So that no one here is in any doubt, what this rounding error of a poster is babbling with that word salad might at times have some tangential connection to spread bet trading in Vodaphone or some other megacap, but absolutely sweet fa to do with trading in San Leon. Anyone, anywhere who tried to log onto to any spread bet platform to try and put a short 'bet' on in a name like sle recently in any size above molecular scale, would have been immediately refused and then required to call a real human being at the spread bet broker who would explain that either such a trade is likely just outright rejected, or - a tiny possibility if the client is important enough - a stock borrow would be required to initiate the trade. And since Tosca + management have a massive super-majority of the shares locked up and very much un-borrowable, good luck to afake's mystery short seller(s) finding enough shares to borrow in order to put on a position of more than a couple thousand quid short (I don't know, perhaps that impresses some down the pub). Sure, the odd IG or PLUS 500 may have a client or 2 who are already long San Leon that they might considering 'netting' against a new short position, but even then they would probably require sourcing an adequate borrow as SLE is too volatile and too event-driven and, at the moment anyway, too illiquid, for the risk models of any of the spread betting firms to even consider accepting. In other words, what all that serves to demonstrate, is that the idea of some kind of huge bet against SLE shares, somehow hidden on the books of spread betting firms put on by punters who are simply allowed to 'bet' against the share price, is the fantasy concoction of the type of person who thinks its funny to troll a Nigerian-based company by creating an avatar that 'speaks' in pidjun English. Bottom line, trying to short San Leon at a spread bettor versus a traditional broker is effectively, a distinction without a difference.
Posted at 07/9/2024 07:53 by kemche
echoridge - 27 Nov 2023 - 08:07:52 - 52361 of 52452 San Leon Energy - SLE

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.
Posted at 06/9/2024 17:10 by witheco
How's it going linkies? Your children must be all grown up by now so no hand me down. Perhaps you can transfer the asset to your great grandchildren,maybe SLE will be a NFT by then? ?
Posted at 16/8/2024 08:36 by infra15
I see the PTR (Pre-Trial Review) hearing is going ahead today in London. Clearly with the recent resignation of J. Tedder and the fact there is no formal update of any kind, and appreciate today is part of the procedural aspect to the petition, I would expect SLE to make an announcement after today, as the actual Trial may well be within a couple of months from todays PTR hearing. Either they have something positive to say or there is no light at the end of this tunnel on this one. The PTR is to establish if both sides are in a position and ready to go to trial. At least thats my understanding.
Posted at 01/7/2024 13:02 by wsm812
Investors Chronicle - 30 mins ago:

Shares in Nigeria-focused exploration and production company San Leon Energy (SLE) have been delisted from trading on Aim after being suspended for more than six months, pending the publication of the 2022 annual accounts, 2023 interim accounts and an Aim admission document in relation to a further investment in Energy Link Infrastructure (ELI), a midstream infrastructure group. However, all is not lost.

That’s because the board expects to finally complete a refinancing later this month, which will not only enable San Leon to settle all outstanding trade creditors ($25mn of liabilities) and take majority control of ELI, but be in a position to publish its accounts within two months of receipt of the funds.

Furthermore, it is the board’s firm intention to undertake a listing, either in the UK or on an international stock exchange, in the second half of 2024 to restore liquidity for its shareholders. At that point, the directors expect San Leon will be fully funded as well as being ELI’s majority shareholder. ELI is the operator of the new subsea 100,000 barrels of oil per day (bopd) alternative crude oil evacuation system (ACOES) export pipeline within the Niger Delta OML18 acreage and a 2mn barrels of oil capacity offshore floating storage and offloading (FSO) vessel. Once commissioned, the ACOES is expected to reduce the downtime and allocated pipeline losses currently associated with the Nembe Creek Trunk Line to below 10 per cent.

Refinancing arrangements
Last month, San Leon became a beneficiary of a €500mn (£424mn) German government bond which it plans to use as security to obtain finance from a third party (although the legal ownership of the bond will remain with the owners). The company is in negotiations with a “well-known international finance institution” in respect of a third-party finance arrangement.

San Leon is also in advanced discussions with Midwestern Oil & Gas Company (Midwestern) in relation to a reorganisation of the two companies' holdings in Midwestern Leon Petroleum Limited (MLPL). San Leon owns 40 per cent of MLPL's issued shares, with Midwestern owning the remaining 60 per cent. Since 9 October 2023, San Leon and Midwestern have sought to align their interests, noting the $140mn of outstanding loan notes due from MLPL to San Leon (which are guaranteed by Midwestern).

The revised agreement between the parties will involve San Leon swapping a portion of the loan notes for a cash payment of $15mn, alongside a further $5mn bridging loan if required. The second stage of the transaction involves Midwestern transferring certain of its interests in Eli to San Leon. The documentation in respect of the proposed transactions with Midwestern is at an advanced stage.

Timeline for new listing
Clearly, the cancellation of the Aim listing is not ideal, but as chief executive Oisin Fanning notes "it makes no difference to the activities we are undertaking to complete our refinancing – and, in many respects, may simplify some of the processes.” He has a point as there is little change to the work stream as San Leon still needs to publish an admission document and release its delayed accounts before trading in the shares can be restored.

Moreover, the completion of the refinancing and resolution of the outstanding loan note debtors will bring much-needed clarity to investors, who will then be able to focus on a profitable and cash-generative project from which San Leon expects substantial upside through its majority ownership following completion of the proposed further investments in ELI. In the meantime, the directors plan to keep shareholders fully informed of all developments during the period the shares are not listed.

So, although shareholders in San Leon have had a roller coaster ride since I selected the shares, at 27.5p, in my 2021 Bargain Share Portfolio, hitting a high of 57p in the summer of 2022 before sliding below my entry point shortly before they were suspended, there is light at the end of the tunnel. I expect a profitable outcome on the holding in due course. Hold.
Posted at 05/6/2024 14:05 by 1kempton
Half a billion dollars say's it's a "world class asset" and the investment to be made also says shareholders gunna do very well as sle get majority holding of Eli which every barrel of oil delivered sle get cash on every barrel, a number of oil companies already signed up and pipeline can carry 250kbpd.....bring it on.
Posted at 05/6/2024 06:50 by plasybryn
Amazing. Gob smack. Well done SLE
Posted at 22/5/2024 08:28 by infra15
Thanks everyone, fingers crossed it goes well today for all those that have a vested interested in SLE. I nearly got caught out as a contractor on this for ELI, but thankfully didn't proceed forward back in 2020, otherwise it could have been a different outcome for the business. Really feel for those creditors who have been caught up in this and hope they get a resolution soon. A lot of money was spent on this project to date via signed contracts with suppliers. Hopefully the court realises the bigger picture, I do believe ACOES will work as everything else in this waterway is compounded by so many different issues for crude transportation. We know of parties who have been caught up in it and they are not big companies, but deserve a resolution and equally deserve to finish the project, but I am sure their compensation packages once funding has been finalised will make up for the pain and suffering they have been caused. Have to assume other parts of the SLE business are financing this legal action.
Posted at 20/7/2022 13:17 by philby1
Malcy says:

Confirmation of the ELI loan documents having been signed is further good news for San Leon as the loan brings a sensible coupon as well as an investment in ELI. Final approvals just waited on now and in due course the SLE share price will rise significantly.
Posted at 22/7/2021 23:49 by hpcg
alaric - in a merger neither side gains value, at least until synergies and cost cutting kick in. By definition when two or more parties pool they have agreed what they consider to be a fair share, so the total EV should go up, but our proportional ownership decline. If Midwestern is under some element of financial duress SLE can negotiate harder. Ultimately the market will judge whether the combination is worth more on the SLE share price.
San Leon Energy share price data is direct from the London Stock Exchange

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