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
  -0.25 -0.93% 26.75 63,222 16:35:07
Bid Price Offer Price High Price Low Price Open Price
26.00 27.50 27.00 27.00 27.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.23 -44.59 -7.01 134
Last Trade Time Trade Type Trade Size Trade Price Currency
16:36:29 O 3,011 27.00 GBX

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Date Time Title Posts
26/9/202010:26San Leon Shorters988
25/9/202021:09San Leon Energy51,148
01/9/202016:52San Leon Energy - The New Positive Thread36,584
03/7/202012:12san leon energy52
24/1/202012:57San Leon - all hype & no delivery?122

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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 27p.
San Leon Energy Plc has a 4 week average price of 23p and a 12 week average price of 22.30p.
The 1 year high share price is 30.45p 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 250,771 shares. The market capitalisation of San Leon Energy Plc is £133,818,709.25.
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?
witheco: Linksdean is the company fluffer. He is a company insider and uses many various aliases to try (albeit hopelessly) to ramp the SLE share price and encourage poorly informed prospectors to buy. He has been identified as using unsolicited inside information, so no longer posts under that name and instead now uses the lead 1kempton alias.
1kempton: San Leon Energy gets nods of approval for ELI investment Fox Davies increased its price target to 45p from 40p previously, and its NAV estimate to 53p from 47p. San Leon Energy PLC’s (LON:SLE) acquisition of a 10% stake in Energy Link infrastructure has been welcomed as a smart move by two brokers. The oiler is investing US$15m in EIL (Malta), which owns the Alternative Crude Oil Evacuation System (ACOES) project. ACOES is being constructed to provide a dedicated oil export route from the OML 18 asset in Nigeria, comprising a new pipeline from OML 18 and FSO. The investment comprises a 10% equity interest in ELI together with a US$15m shareholder loan at a coupon of 14% per annum over 4 years. SP Angel said it was a shrewd investment in its view, securing the additional control of the midstream export route (through the ELI board seat) at no cost. Operationally, ACOES will also have a material effect on the operation of OML 18, primarily through the reduction of downtime and losses associated with the existing export route. ELI, through its Nigerian subsidiary, will earn fees for transporting and storing crude oil from OML 18 and potential third parties. As a shareholder in ELI, San Leon stands to benefit from what can be a very profitable operation in the medium-to-long term in our view. Fox Davies, meanwhile, notes the funds will be provided by SLE to ELI in two tranches, the first US$10mln immediately and the balance of US$5mln in Q4 2020 following receipt from Midwestern Leon Petroleum Limited of the next repayment of Loan Notes due then. “We see this deal as very positive for SLE," said the broker. "At no cost it secures SLE some control of the midstream export route (one Board seat at ELI), which is crucial for the full monetisation of the upstream asset, and a 10% share of future crude transportation profits which we estimate to be worth US$35mln or 6p per SLE share." Fox Davies increased its price target to 45p from 40p previously, and its NAV estimate to 53p from 47p. "This deal demonstrates the ability of SLE to take advantage of very accretive opportunities and should provide added comfort to investors," it added.
echoridge: We estimate a Net Asset Value (“NAV”) of 48p per share which includes the value of future Loan Notes payments to end 2021 and of net remaining 2P reserves & 2C resources (post 2021) in OML 18, as well as that of other assets such as Services provided to the JV during the drilling campaign and Barryroe. o This NAV is underpinned by a DCF valuation of the OML 18 asset based, inter alia, on a long-term real oil price of US$55 per bbl. Given the nature of SLE as a yield play based on solid production from OML 18 and a relatively conservative long-term oil price estimate, we see our NAV as a credible estimate of medium-term value and price target for SLE. o SLE currently trades at an EV/2P multiple of US$1.0 /boe, lower than the median multiple of US$1.3 /boe for a peer group of publicly listed companies with assets in Nigeria, with a range of US$0.2-2.4 /boe. o We believe that given the quality and remaining potential of the OML 18 asset as well as the strong alignment of management (24% interest in SLE) with other shareholders, SLE should trade (at least) at the top end of that range. Accordingly, we calculate a value of 40p per share by applying an EV/2P multiple of US$2.4 /boe, based on our estimate of net 2P reserves remaining of 63MMboe, net cash available of US$41million and after adjusting for other assets; o This peer group based valuation of 40p per share is our short-term price target and represents a 17% discount to our NAV estimate of 48p per share;  We believe that value accretive external growth represents a source of material potential upside likely to materialise during this downturn, and we see a valuation floor around 20p provided by our estimate of the value of the cash balance at end 2021. o Upside from potential value accretive acquisition is difficult to quantify; however, based on management’s track record, it may be substantial and likely to materialise; o We estimate the value of the cash balance at end 2021 at US$113 million or 20p per share and believe this represents a floor valuation for SLE;  Hence we view the current share price as an attractive entry level into an African consolidation play with material potential upside (+90%) and limited downside (-20%).
o1lman: MMI stock market gambles had an element of added risk Fri, Mar 19, 1999 Buying and selling on the stock market is a form of gambling but the operation run by MMI Stockbrokers, now in liquidation, had an element of added risk. In a normal deal a client buys stock and settles within five to 10 days. It is only in the most unusual - and unfortunate - cases that the client finds him or herself paying for stock that is worth substantially less than the money being handed over. However, according to a former executive with MMI Stockbrokers, the company bought and sold stock for its clients using the normal settlement terms, but also offered two extended credit schemes. These were a 20-day rollover scheme, and a 90-day "give-and-take-back" scheme. In relation to both schemes the company did business with K & H Options, London. The give-and-take-back scheme involved buying shares through K & H Options but not paying for them for 90 days. Payment would be at a price agreed at the time the shares were purchased. For example, a £1 share might be purchased with an agreement that K & H would be paid £1.10 in 90 days. The MMI client would then hope that at the end of the 90-day period, the share would have risen higher than the agreed payment price. If the stock had risen in price to above £1.10, the client could sell it back to K & H and collect the difference. If the share price was below £1.10, the client could still sell the stock back to K & H, and pay up the difference. Also, at any time during the three months it was open to the client to opt to sell the stock at the then market price, and settle up at the end of the 90-day period. In order "to be prudent" MMI took a margin from its clients. A margin is similar to a deposit and MMI would look for 20 to 25 per cent of the amount due to be paid to K & H. This provided security as it would be most unlikely the stock would fall by more than 20 per cent in value during a 90-day period. If a client was well known and was involved in a number of transactions, a margin might not be sought for every transaction. According to the former executive, who did not wish to be named, "MMI was not unique in doing give-and-take-back deals", but it did so more than most stockbroking firms "because K & H were giving the credit". The source cannot remember who approached who in relation to give-and-take-back but says it was "business K & H promoted" and was a service the London firm had been providing to MMI "for about three or four years". The second type of scheme operated by MMI and K & H involved a 20-day settlement period with a facility whereby on day 18 the parties could agree to roll over settlement for a further 20 days. The source says the majority of the business MMI conducted with K & H was of the give-and-take-back variety. MMI dealt heavily in oil stocks, including Dana Petroleum and Tullow Oil. "At any given time Dana would be a fifth to an eighth of the exposure K & H had with us," according to the source. As well as the Dana and Tullow stock, MMI clients bought a range of FTSE 100 shares - shares in the top 100 companies quoted on the London Stock Exchange (LSE). Financial difficulties hit MMI last year when the price of Dana stock suddenly plummeted and, at the same time, the FTSE index dropped about 25 per cent. The Dana share price fell from 22p in June, to 8p in early September. Mr Oisin Fanning, who stepped down as managing director in September, told The Irish Times at the time that the situation had been "controllable" until the drop in the Dana price was accompanied by the plummet in FTSE stocks in August and September. With the Dana stock having fallen by more than 60 per cent, clients of MMI who had thought that in a worse-case scenario they might lose their margin, now found they were being asked to pay up significant sums of money. Some said they did not have the funds, or could not produce them by the agreed settlement date. Others objected that they had been badly advised by MMI in relation to the Dana stock.
echoridge: We interrupt the jabba fantasy rage posts for a valuation analysis from the Real World: San Leon Energy Plc 9 June 2020 Oil & Gas Cashed up at the right time Summary On 7 April 2020, San Leon Energy (“SLE”), an independent oil and gas company listed on AIM, received a payment of US$40 million from Midwestern Leon Petroleum Limited (“MLPL”), toward the outstanding balance of Loan Notes contracted by MLPL to finance its acquisition of an indirect interest in OML 18. Following a special dividend proposed on 27 April, SLE has US$41 million of cash available and no debt. A payment of US$10 million will be made by MLPL to SLE by 6 October 2020, and the remaining outstanding Loan Notes balance of US$72 million, plus accrued interest of ca. US$10 million (FDC est.), will be cleared in three quarterly instalments from July to December 2021, with Midwestern Oil & Gas Company remaining as a guarantor. We believe with such cash resources SLE is in an unusually good position to take advantage of opportunities likely to emerge from the current oil price downturn. During the 2015-16 downturn, management grew the company multi-fold at a minimal entry cost and now has an even better armoury at its disposal to pursue such an accretive external growth strategy. We view the 6p special dividend and recent share purchase by the CEO of an additional 22% of SLE as very strong value signals. Valuation We derive a short-term target price of 40p per share from an EV/2P multiple comparison with a peer group of publicly listed companies with assets in Nigeria. We estimate an NAV of 48p per share, including the DCF value of future Loan Notes payments and net remaining assets post-2021, but not including the material upside from potential value-accretive external growth. Hence, we view the current share price as an attractive entry level into this African consolidation play. Analyst Lionel Therond CFA
echoridge: You are truly, dangerously twisted. The current, nominal share price is unchanged from the undisturbed suspension price. You're using the price AFTER the deal at 46p was announced and the shares surged, which in itself is wilfully deceptive. Buuuuut, even if we use your shamelessly wrong starting point, you have FURTHER neglected to add back in the 6p dividend just paid and the even bigger effective dividend from the tender at 46p last year. Doing it properly, even if we start with your inaccurate share price, sle is still roughly unchanged over the period in question, making it STILL one of the best O&G shares over that period ANYWHERE.
echoridge: '....the current market cap of SLE is £151 mill. around 38 mill is made up of the Barryroe valuation. if Barryroe was valued at 8 mill the market cap would be 121 mill and of course the share price would fall to reflect the valuation. some people really shouldn't own shares let alone pontificate on a bboard about them.....' Ladies and gentlemen, your world champion of self-owning imbeciles. San Leon is an operating business, not a fund like the Woodford Capital fund mentioned. Funds hold shares in other companies and therefore trade in the market based on their net asset value, or NAV, which is essentially just the total value of those investments less any liabilities (hence the 'net' part), divided by the shares or units outstanding. Holding companies are likewise valued this way. Operating businesses like sle are valued entirely differently, based on revenues, expenses and future earnings potential In SanLeon's case, the share price just reflects the cash in the bank, future cash owed on the loan notes, and then it holding in OML18, and with the share price/market cap is below the value of its current and future cash, thus the OML production business comes to shareholders for free. That degree of undervaluation is unfortunate for current shareholders and an opportunity for those buying at these levels (though it is certainly not unique in this market), and an issue for debate by posters with legitimate interest as to how the company can progress to narrow that discount and drive the share price materially higher. One thing is certain however: nowhere in that valuation, in the company's market cap, present or future, does the holding value for the PVR NPI figure, and it never will, unless and until that NPI starts to pay royalties. Until then, the valuation for the NPI remains simply an accounting item, unconnected to the sle's market valuation. Oh dear, oh dear, oh dear, you ignorant charlatan.
1historyman: echoridge 6 Aug '19 - 09:37 - 48082 of 48083 0 0 0 Pure, simple demagoguery. The value of Barryroe in today's sle share price is 0, nothing, nada, like your net worth. ……...230;…...…;.. looks like it's back to school for u, unless of course your point is that the market thinks the Barryroe stake is overvalued in the accounts and is in fact worthless ?
echoridge: Pure, simple demagoguery. The value of Barryroe in today's sle share price is 0, nothing, nada, like your net worth. Know how I know that, you poisonous little fur ball? Because the problems with Barryroe are completely public for everyone to see, including but not limited to, the declines in pvr and logp share prices. The market in sle shares therefore doesn't need to wait to be told 'officially' through some accounting item, that its value has diminished substantially. If this event were seen in any way as materially impacting the current value of SanLeon in the market, the shares would have long since declined on the news. That's how. Oh dear, oh dear, oh dear, you dope....
San Leon Energy share price data is direct from the London Stock Exchange
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