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Share Name Share Symbol Market Type Share ISIN Share Description
San Leon Energy Plc LSE:SLE London Ordinary Share IE00BWVFTP56 ORD EUR0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.35 1.45% 24.50 94,299 16:35:20
Bid Price Offer Price High Price Low Price Open Price
24.00 24.30 24.40 24.00 24.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.23 -44.59 -7.01 123
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:20 UT 500 24.50 GBX

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Date Time Title Posts
08/1/202109:26San Leon Energy51,245
02/1/202112:03San Leon Shorters1,143
30/11/202015:58San Leon Energy - The New Positive Thread36,590
03/7/202011:12san leon energy52
24/1/202012:57San Leon - all hype & no delivery?122

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DateSubject
16/1/2021
08:20
San Leon Energy Daily Update: San Leon Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SLE. The last closing price for San Leon Energy was 24.15p.
San Leon Energy Plc has a 4 week average price of 20.90p and a 12 week average price of 19.80p.
The 1 year high share price is 29p while the 1 year low share price is currently 11p.
There are currently 500,256,857 shares in issue and the average daily traded volume is 255,190 shares. The market capitalisation of San Leon Energy Plc is £122,562,929.97.
28/11/2020
11:19
1kempton: Barryroe now worth zero to sle at present, but with a 4.5% interest in production profits on the whole enlarged licence structure, this is going to worth 10s of millions a to sle.. and with no outlay... gas to be produced from as 18 months by what Alan Linn states in a proactive pres, says this is going full steam ahead. Then their is the oza field, which holds 20mboe plus!!!.. large hydrocarbon structures found but never tested by shell, this imo could be more than double the amount of oil to be recovered as mentioned in the fox Davies pdf regarding decklar, sle will be paid first by the recent rns's and once paid will hold 30% of decklar and its production... Then we have oml18, where we hold a 10.58% interest in erotons production, who have already paid sle back 190m through the loan notes scheme so we have that now for free, owed through interest is around 110m which will be repaid by end of next year of which sle have stated half will be returned to shareholders in dividends... plus we have a 10% share in the new fso facility which from day one will increase production from 10kbpd to 50kbpd plus. There are other companies wishing to use this line who like eroton will have to pay in advance for every barrel that flows through the line, and sle receive 10% on every barrel.. With this increase in production eroton who sle have 10.58% will be able to pay dividends out to sle who in turn have stated to return half to us shareholders All in all with cash in the bank and sle already paying a handsome 30% yield in the form of a 6p dividend earlier this year, things are looking really rosy for sle and its shareholders. . More deals and dividends next year and all years as stated by our ceo..
20/10/2020
21:21
1kempton: 2020-10-19 14:01:17.10 GMT (Daily Mail) - A strategy originally born out of prudence sets San Leon Energy apart from the crowd amidst 2020's unprecedented challenges. The Nigeria-focused firm's lend-to-invest strategy may not have been designed for 2020, nonetheless, it has created a uniquely strong position. A $175million loan note transaction back in 2016 gave San Leon a cash-generating foothold in an oil project previously divested by Shell, which now has the capacity to produce around 50,000 barrels a day (bopd) before pipeline and export losses. San Leon sees this principal repaid plus 17 per cent interest – with $88million remaining before full redemption comes in late 2021 - and at the same time it holds a 10 per cent economic interest in the underlying oil field asset. The oil field's returns will soon be boosted by a new pipeline and export route, that will take crude offshore to a floating storage and offloading facility. This will significantly enhance the economics of the operation, which can lose about a third of its barrels before they get to market. San Leon, following its lend-to-invest model, is supporting the funding of the pipeline project. It will receive a 14 per cent coupon for four years and gains a 10 per cent stake in the infrastructure, adding a further stream of continuing income. The blueprint was followed again as recently as September with San Leon lending $7.5million with a 10 per cent coupon, and a 15 per cent equity stake in Decklar Petroleum – which receives the majority share of production from the Oza oil field. Later, San Leon can increase its stake to 30 per cent if/when it extends a further loan to fund expansion work at Oza. These investments all follow a distinct pattern, and, significantly the cash flow supports a dividend policy that continues to provide returns to shareholders – some $35million was paid in the first half of this year, which at the time represented a yield of around 30 per cent. 'We lend to invest as it is a more efficient use of capital,' said Oisin Fanning, San Leon chief executive. 'Most small cap oil and gas companies buy to invest. The capital is sunk into project and they never get it back. They just have to hope the investment goes well. 'From 2016 onwards, we've taken a different approach and it has worked very well for us so far. We lend money, at a reasonably high coupon. We're protecting our capital whilst getting a share of the businesses themselves. 'From a strategy point of view that's turned out to be very wise. It fundamentally means that even in hard times I can still categorically say that we'll be paying a handsome dividend next year, because we know that we'll be getting in around $100million regardless of the market, regardless of operational issues. We'll be getting it in the repayment of principal plus interest.' The financial merits of the model are arguably underrated, from the perspective of the share price at least - as a number of analysts recently wrote up targets and valuation with very substantial 'blue sky' attached. Panmure Gordon in early October pitched a 'buy' recommendation with a 59p price target, outlining around 100 per cent upside to the market price of the share on AIM. Before that, Allenby Capital estimated San Leon's enterprise value at £371million, versus £29million as implied by the company's market capitalisation of around £115million. One reason that investors may potentially overlook San Leon's success relates to the way in which its business is represented in how it is accounted and where the profit and loss belies the group's cash machinations. For those not paying attention to coupons, cash and dividends, the company's $20.4million loss in the first half of 2020 obscures the nature of San Leon's performance. According to Fanning, the paper losses don't properly depict the business which had $41.5million of income from loan repayments or the $35million paid out to shareholders in the first six month of 2020. 'You've got to look at our cash situation,' he pointed out. 'Look at the cash in, look at the returns we've given to shareholders, and you've got to look at the deals that we're doing.' In its note this month, Panmure described San Leon's approach as a low-risk and value-creating model. 'With a relatively small amount of capital deployed, attractive returns are realised whilst having more influence and control than would be the case as a minority joint venture partner,' analyst Ashley Kelty at the City broker said.
02/10/2020
06:11
alaric7: www.proactiveinvestors.co.uk/companies/news/930230/san-leon-energys-powerful-cash-flow-isnt-properly-valued-in-share-price---broker-930230.html San Leon Energy’s powerful cash flow isn’t properly valued in share price - broker The company’s strategic move into Nigeria has been a great success story, says Allenby, which has initiated its coverage. San Leon Energy PLC’s (LON:SLE) powerful cash flow is a key factor in a valuation drawn up by Allenby Capital which sees some 222% upside to the current share price. The Nigeria-focussed oil and gas investor last week released first half results that illustrate a company with a strong financial position and outlook. It revealed that in 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln from operators, via loan note repayments. Some US$88.7mln of future loan note payments remain under its loan arrangements. San Leon ended the half with US$35.6mln in cash and had US$22.6mln by mid-September following new investments. READ: San Leon interims confirm strong financial position The loan notes were the basis of San Leon’s investment in OML 18 (an operation bought out from Shell in 2015), with the operator paying a material coupon and providing the company with a 10.58% indirect interest in the underlying oil fields. Allenby, in a new note, described San Leon’s strategic move into Nigeria as “a great success story”, whilst noting that the more recent investments similarly focus on the acquisition of cash-flow. “The OML 18 move has been followed by two recent investments which again focus on near-term cash flow,” Allenby analyst Peter Dupont said. “These are the interests taken in the new ACOES export pipeline linking the core of the OML 18 operations with an offshore FSO and in the Oza field development project in the northern Niger Delta. High yield debt is a feature of both investments.” Dupont highlighted that currently San Leon shares are pricing an enterprise value of just £29mln, substantially less than the £371mln value estimated by Allenby. “We have adopted a hybrid sum-of-the parts approach to valuation,” Dupont said. “In the case of the current cash balance and the financial receivables relating to OML 18 and the ACOES pipeline, we have valued these items dollar for dollar. “Regarding the equity interests in OML 18 and Decklar, our valuation basis is price/boe multiplied by net reserves. We have used $3/boe and $1.5/boe for 2P reserves and 2C resources respectively. Our valuation overall is $482m or £371m, equivalent to 82p/share.” San Leon paid out US$35.3mln to shareholders in the first half of 2020 and in May it announced that a US$33.3mln special dividend would be paid - representing a dividend yield of about 30% at that time - and a US$2mln share repurchase programme was completed early in the reporting period
29/9/2020
14:34
1kempton: From bluerill lse.. www.proactiveinvestors.co.uk/companies/news/930230/san-leon-energys-powerful-cash-flow-isnt-properly-valued-in-share-price---broker-930230.html San Leon Energy’s powerful cash flow isn’t properly valued in share price - broker The company’s strategic move into Nigeria has been a great success story, says Allenby, which has initiated its coverage. San Leon Energy PLC’s (LON:SLE) powerful cash flow is a key factor in a valuation drawn up by Allenby Capital which sees some 222% upside to the current share price. The Nigeria-focussed oil and gas investor last week released first half results that illustrate a company with a strong financial position and outlook. It revealed that in 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln from operators, via loan note repayments. Some US$88.7mln of future loan note payments remain under its loan arrangements. San Leon ended the half with US$35.6mln in cash and had US$22.6mln by mid-September following new investments. READ: San Leon interims confirm strong financial position The loan notes were the basis of San Leon’s investment in OML 18 (an operation bought out from Shell in 2015), with the operator paying a material coupon and providing the company with a 10.58% indirect interest in the underlying oil fields. Allenby, in a new note, described San Leon’s strategic move into Nigeria as “a great success story”, whilst noting that the more recent investments similarly focus on the acquisition of cash-flow. “The OML 18 move has been followed by two recent investments which again focus on near-term cash flow,” Allenby analyst Peter Dupont said. “These are the interests taken in the new ACOES export pipeline linking the core of the OML 18 operations with an offshore FSO and in the Oza field development project in the northern Niger Delta. High yield debt is a feature of both investments.” Dupont highlighted that currently San Leon shares are pricing an enterprise value of just £29mln, substantially less than the £371mln value estimated by Allenby. “We have adopted a hybrid sum-of-the parts approach to valuation,” Dupont said. “In the case of the current cash balance and the financial receivables relating to OML 18 and the ACOES pipeline, we have valued these items dollar for dollar. “Regarding the equity interests in OML 18 and Decklar, our valuation basis is price/boe multiplied by net reserves. We have used $3/boe and $1.5/boe for 2P reserves and 2C resources respectively. Our valuation overall is $482m or £371m, equivalent to 82p/share.” San Leon paid out US$35.3mln to shareholders in the first half of 2020 and in May it announced that a US$33.3mln special dividend would be paid - representing a dividend yield of about 30% at that time - and a US$2mln share repurchase programme was completed early in the reporting period
03/9/2020
06:51
alaric7: With apologies but echo's analysis from a few days ago on the death of shale and recent oil price direction is just too good not to repeat. 'So the secret is out.... I hadn't seen that particular article, Alaric, but that's precisely the argument I was referring to in my previous post. The death of shale is a central investment theme of mine but much more importantly, its starting to get some serious professional interest as well. Through the material recovery in the oil price complex since March, there has been a big increase in open short futures and put positions; in other words, pros have been opposing this recovery rally - particularly since Brent breached $40 - and the reason is simple: despite some pockets of recovery in the world economy - particularly in China - there hasn't been anywhere near a sufficient increase in general oil demand (yet) to address what these bears think is the gorilla in the room: the huge oil stockpiles that were built up around the world during the worst of the price crash. In fact, storage capacity - in every form from onshore tanks to tankers - remains surprisingly tight and storage rates commensurately high. The expectation had been, as short positions began to build up around mid May/June between $35 and $40 - that even as the world economy picked up a bit - for some, ESPECIALLY as the economy recovered - the oil market would necessarily get flooded by all this supply held in relatively expensive storage, by professional investors and not oil experts. Yet despite much of that stockpile being held in relatively weak hands, that hasn't happened (yet), at least to the extent that it has impacted market prices. Instead of course, the price action has been on a slow grind higher (I hate chart analysis, but the 30% rally since end of May has been notable for its unusually slow, steady rise particularly as it followed one of the most volatile periods in the market's history), with the outer forward months into next year for Brent approaching $50, no longer very far from its 5year average, seemingly against all the odds. Now, one reason for this is the massive liquidity-drenched recovery in equities and gold prices as well as the far-less discussed, but far more important for oil prices, simultaneous collapse in the dollar. All 3 of these have, in different ways, brought mainly speculative buyers into oil who are almost entirely buying financial instruments, unlike their peers earlier in the year who got long physical oil, thus pushing the oil forward months into contango and adding to the upward pressure on prices generally. This recent buying will almost certainly reverse - as it always does, often suddenly - since these funds are punting oil bc they've basically run out of other things to buy, and when it does we may see a material correction in Brent, possibly back to the low 40s, though that now seems less likely. However, I am convinced it won't last and the reason is the article you posted, Alaric. In fact, I think this thesis arguing for higher prices in the coming years, regardless of economic conditions, is the final, largely under-explored, almost stealth reason for the stubbornly higher CURRENT prices. What I believe the market is waking up to - and frankly, is causing some even more painful short covering that is undergirding prices - is that the undeniable demand destruction that is coming as the world moves to renewables, etc is (and I know, I have written about this before, but it bears repeating and highlighting) now seen as inevitable, unstoppable. However, as oil bears are learning to their embarrassment, the ultimate irony is that the market crash in March may have had a bigger impact on supply than on demand, and that that impact is not being equally shared across the industry, either product-wise or geographically. In short, if you're a heavily leveraged shale producer or worse, want to become one, and you turn to the credit markets for help, you're kinda foooked, PARTICULARLY in the US. In a year or 2, this fast evolving view may well turn out to be wrong, but for now, shale oil production in the US is toxic, and since the generally accepted macro view is that getting to some 8 million+ bbls/day made the US the world's marginal producer and that that status was built on shale growth, if that growth is about to turn negative, then commodity prices may well remain structurally well bid and may even push materially higher. In other words, there may well be some fundamental method behind the higher price madness. In a final irony the ability to exploit this, until now, unforeseen development of relatively buoyant prices and a credit market boycott of shale, and an overall declining investment environment for exploration, is and will open up increasingly to well-funded, conventional legacy producers in the developing world, particularly geographies with critical mass like Nigeria. And that means companies like San Leon Energy.'
29/8/2020
14:45
echoridge: So the secret is out.... I hadn't seen that particular article, Alaric, but that's precisely the argument I was referring to in my previous post. The death of shale is a central investment theme of mine but much more importantly, its starting to get some serious professional interest as well. Through the material recovery in the oil price complex since March, there has been a big increase in open short futures and put positions; in other words, pros have been opposing this recovery rally - particularly since Brent breached $40 - and the reason is simple: despite some pockets of recovery in the world economy - particularly in China - there hasn't been anywhere near a sufficient increase in general oil demand (yet) to address what these bears think is the gorilla in the room: the huge oil stockpiles that were built up around the world during the worst of the price crash. In fact, storage capacity - in every form from onshore tanks to tankers - remains surprisingly tight and storage rates commensurately high. The expectation had been, as short positions began to build up around mid May/June between $35 and $40 - that even as the world economy picked up a bit - for some, ESPECIALLY as the economy recovered - the oil market would necessarily get flooded by all this supply held in relatively expensive storage, by professional investors and not oil experts. Yet despite much of that stockpile being held in relatively weak hands, that hasn't happened (yet), at least to the extent that it has impacted market prices. Instead of course, the price action has been on a slow grind higher (I hate chart analysis, but the 30% rally since end of May has been notable for its unusually slow, steady rise particularly as it followed one of the most volatile periods in the market's history), with the outer forward months into next year for Brent approaching $50, no longer very far from its 5year average, seemingly against all the odds. Now, one reason for this is the massive liquidity-drenched recovery in equities and gold prices as well as the far-less discussed, but far more important for oil prices, simultaneous collapse in the dollar. All 3 of these have, in different ways, brought mainly speculative buyers into oil who are almost entirely buying financial instruments, unlike their peers earlier in the year who got long physical oil, thus pushing the oil forward months into contango and adding to the upward pressure on prices generally. This recent buying will almost certainly reverse - as it always does, often suddenly - since these funds are punting oil bc they've basically run out of other things to buy, and when it does we may see a material correction in Brent, possibly back to the low 40s, though that now seems less likely. However, I am convinced it won't last and the reason is the article you posted, Alaric. In fact, I think this thesis arguing for higher prices in the coming years, regardless of economic conditions, is the final, largely under-explored, almost stealth reason for the stubbornly higher CURRENT prices. What I believe the market is waking up to - and frankly, is causing some even more painful short covering that is undergirding prices - is that the undeniable demand destruction that is coming as the world moves to renewables, etc is (and I know, I have written about this before, but it bears repeating and highlighting) now seen as inevitable, unstoppable. However, as oil bears are learning to their embarrassment, the ultimate irony is that the market crash in March may have had a bigger impact on supply than on demand, and that that impact is not being equally shared across the industry, either product-wise or geographically. In short, if you're a heavily leveraged shale producer or worse, want to become one, and you turn to the credit markets for help, you're kinda foooked, PARTICULARLY in the US. In a year or 2, this fast evolving view may well turn out to be wrong, but for now, shale oil production in the US is toxic, and since the generally accepted macro view is that getting to some 8 million+ bbls/day made the US the world's marginal producer and that that status was built on shale growth, if that growth is about to turn negative, then commodity prices may well remain structurally well bid and may even push materially higher. In other words, there may well be some fundamental method behind the higher price madness. In a final irony, and of course a final blow to yet another 'end of days' scenario jabba or one of his surrogates gleefully present when they get tired of trying to slime sle directly, the ability to exploit this, until now, unforeseen development of relatively buoyant prices and a credit market boycott of shale, and an overall declining investment environment for exploration, is and will open up increasingly to well-funded, conventional legacy producers in the developing world, particularly geographies with critical mass like Nigeria. And that means companies like San Leon Energy. Drop mic
27/8/2020
10:04
echoridge: '...Besides if you wanted to take a punt on Barryroe, you would be a stakeholder in PVR or LOGP. Doubt it will impact SLE in the medium term. Come back in 2-3 years, that is if it makes it into the Irish energy capacity market and hasn’t been displaced by renewables....' Man, if bleating mindless drivel were a religion, you'd be a saint. They start drilling, sle's 4.5% npi doubles in value overnight and it would be eminently sellable - though they probably won't since they don't need the cash and Oisin is on record as loving the project - as I have written several times now. That's how the royalty market works, meaning that financially, the impact on sle will come much, much sooner than for pvr or logp though both those share prices will react more significantly. The point isn't which share to punt if you think Barryroe is a going to be pumping in the immediate future - of course you would buy pvr or logp - but that the return to sle shareholders would also be substantial, immediately monetise-able, and SHORT-term.
18/8/2020
17:18
echoridge: Of course if you don't 'know' the 'conditions' under which sle's holding goes from 10 to 5% and how 10years is conservative, we can always add it to the endless list of other stuff you don't seem to 'know', 'understand', or otherwise bother to learn though that never prevents you from coughing up yet another furball on the subject - from the names on the RBL, to the health of Eroton's balance sheet, to the real reason why Shell sold and thus why our consortium got a bigger bargain on OML18 than the market even realises, to the actual water cut rates on OML18, to how dividends work, to how to calculate share price performance, to subtracting 5 from 15, to the fungibility of cash, to how percentages work, to how tax shelters work, to the difference between an asset and a liability, to how equity markets work (hint: share prices tend to value the upside potential for a company and not just the downside. sorry), to the meaninglessness of posts from 2011 to everyone but those in your cult, and so on. Fun, right?
18/8/2020
10:01
o1lman: remember if the company pays a dividend and it's not from a reliable repeatable income stream the dividend is deducted from the share price on the xd date. then if the income/profit isn't replaced the share price stays low and will most probably fall as the reason for buying the share no longer exists.
18/8/2020
07:22
o1lman: let's roll forward, the first thing to know is SLE's current market cap 163 mill u$d. let's assume that SLE receives the full 110 mil u$d. they pay out half in dividend 55mill u$d. they need to retain 20 mill for the next years overhead. there will be no income as Eroton will not be paying a dividend or ELI as they both are stuffed full of debt. that will leave cash in the company 40mill u$d with no immediate revenue so if u deduct the cash spent from the market cap 65 mill a market cap around 100 mill u$d. Most probably less as the cash will be 40 mill and will reduce over time until the dividends roll in. of course there haven't been any dividends paid but by magic that might change. when OF receives his dividend he will have to pay 40% plus tax and the balance will have to go to the lenders who financed his latest share purchase. Share price around 16p, most probably less. if it is less OF will be up to his oxters again as he will be on margin call. it's a marathon not a sprint. if u are a shareholder keep an eye on the oil price and don't be left holding the baby.
San Leon Energy share price data is direct from the London Stock Exchange
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