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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects Watch Here

#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign


San Leon Share Chat (SLE)



Share Price: 27.20Bid: 27.00Ask: 27.40Change: 0.00 (0.00%)No Movement on San Leon
Spread: 0.40Spread as %: 1.48%Open: 27.20High: 27.20Low: 27.20Yesterday’s Close: 27.20


Share Discussion for San Leon


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bluerill
Posts: 176
Opinion:No Opinion
Price:27.20
RE: Impossible
Today 12:42
Ladies and Gentlemen, everyone's favourite squirrel shares the sum total of his worldview. We may all be dumber for the effort, but look at his little legs go....!
 
Brotherseven
Posts: 1,169
Opinion:No Opinion
Price:27.20
RE: Impossible
Today 12:20
I think some of you on here with your endless drivel deserve some real exposure and scrutiny and whom knows what that may ultimately lead to because the truth always comes out in the end.
BlackSwan
Posts: 907
Opinion:Buy
Price:27.20
Nigeria - Eastern Delta Resources
Today 12:00
Whilst certain of us post purporting to display their knowledge of the law and the intricacies of dealing in the Aim market we shouldn't forget the difficulty of operating in Nigeria exemplified by Eroton refusal to complete a reverse take over by SLE or the machinations of Suntrust to obstruct SLE in claiming ownership of OML18 or theft of the company product by locals - it is far from a given that although the resources are in the ground they can be profitably exploited by even Nigerian companies - I was impressed by the original SP Angel report which outlined the distribution of shares to the local company created by Eroton for the benefit of the indigenous population of the Eastern Niger Delta however it seems even that on the scale of what has happened and is continuing to happen in the Eastern Nigerian Delta poses a major problem to succeeding in Nigeria. I did recommend we send our top posters to Port Harcourt to provide us with a more balanced view for their posting content but to date, regrettable, they haven't departed - here's hoping?

https://www.theguardian.com/world/2019/jan/12/oil-tanker-explosion-kills-nigerians-collecting-leaking-fuel

https://www.theguardian.com/global-development/2018/dec/19/toxic-mud-swamps-fortunes-of-niger-delta-women-years-after-oil-spill
BlackSwan
Posts: 907
Opinion:Buy
Price:27.20
RE: Impossible
Today 10:57
PCo1 - Agreed another balanced comment, in fact, an altogether refreshing post considering the insulting level of the comments floating around on this board - for myself, I believe the company can grow earnings despite the difficulties they have already faced in Nigeria but as you say If you believe the company has only one asset - an outstanding loan - then you most certainly should not be invested here - Nigeria is a difficult market to extract value from hence my welcoming of the NNPC payments to fund future investment which OML18 desperately needs whether it is clearing of existing wells - well refurbishment - constructing a new pipeline for exports to overcome the crippling losses of the existing Nembe creek line and so on.
Alaric
Posts: 303
Opinion:No Opinion
Price:27.20
RE: Impossible
Today 06:45
i like that, frus, but think of us as the fatal squirrel strain. btw. following your miserable little story here to the extent that i do (ie. not a lot) i think i may have gleaned that you are holding your now much reduced holding in San Leon because you believe the company is going to do badly from here and you are going be diluted further? do you know i think i may have discovered a flaw in your investment strategy and why you've been losing so much money? (perversely though on this occasion your counter-intuitive approach is going to work in your favour and not that you deserve it. oh well small price to pay, i guess)
PC01
Posts: 138
Opinion:No Opinion
Price:27.20
RE: Impossible
Today 05:15
I didn’t answer your last point. Once SLE has bought back it’s stock - as per a post of mine what 2months ago - it has 3 options :
Cancel the shares
Keep the shares to remunerate employees - so avoiding diluting you the shareholder when it wants to reward its employees
Keep the shares and use them to fund purchases of other strategic assets.

We could argue about the merits of all 3 of the above - personally I’d prefer the company cancel the shares but that’s because I’m a greedy b&stard and it’s what would give the SP the best boost in the short term.
PC01
Posts: 138
Opinion:No Opinion
Price:27.20
RE: Impossible
Today 04:58
I think I will be Virus D...just a few things re your comment FRUS.
Firstly as suggested the current market capitalisation of SLE is v approximately what the company is owed on the outstanding loan +/- subject to FX etc.
So if SLE has no other expected source of income then we are at fair value - and as you say / spending $10mm of their money pot buying shares back actually achieves nothing if re point 1 SLE will never earn another $ except from its loan repayments.
However the optimistic amongst us think there is a chance that SLE sans debt might actually earn something from owning 5-10% of a world class asset - one that announced recently would start to pay dividends to their existing shareholders. SLE also owns economic interest of some 5% of BarryRoe, the potential of which has been helpful to other companies who own BarryRoe.
So - for the optimistic and only them - our excitement at a SBB is not because of the temporary boost to the SP that might happen but because if we are right about the future earnings potential of SLE, there will be 10% less shares in existence for those earnings to be spread about.
That is why share buybacks are value accretive - if you believe the company can grow earnings. If you believe the company has only one asset - it’s outstanding loan - then you most certainly should not be invested here.
I hope that is clear and not inflammatory.
frus
Posts: 2,189
Opinion:No Opinion
Price:27.20
Impossible
Today 01:58
to converse with 3 or 4 at the same time so I will just refer to you collectively as the virus that is infecting this board. So I am not a victim whereby the sp having fell from a high of 40p finally arrived at the princely some of 3/4 of 1p. Then having put the shares into suspension for C R and crossing 2 zero's off my holding the sp emerged at 80p. Where it then continued its descent to where it is today. So can the virus tell us why that's my fault and just how that previous Capital Reorganisation benefited the shareholders at that time.
Regarding the buy back....Should it ever happen, could the virus tell us what he intends to do in order to benifit from it. IE buy, sell or what? I see Alaric say's there will be a reduction in the companies share capital. Is that because SLE will burn them as they buy back.

I would like to assure the virus and its symptons that I have no vendetta against SLE or to deface other shareholders investment here. As to do so would be to deface my own investment. Just looking for the truth.
PC01
Posts: 138
Opinion:No Opinion
Price:27.20
Frus....one other point of order ..
Today 00:49
You say ‘all SH old and new are losing money’... if SH means shareholders as I believe it must...then I’m afraid to say this SH who is of the new variety is pleasantly in the money...and also has an option on a case of decent Pinot noir that is now 10% in the money (25p strike remember B7) which admittedly is only for bragging rights!
Sorry old chap. Still looking for 45p by Q1 end...after The Capital Reorganisation and the start of the share buy back. Oh and the confirmation of the receipt of the next $18mm...gosh if we r not careful SLE will soon be swimming in the stuff!
mclean91
Posts: 98
Opinion:No Opinion
Price:27.20
RE: .
Tue 23:13
there is no denying it frus your vendetta against san leon is out to deface other shareholders investment here.
Alaric
Posts: 303
Opinion:No Opinion
Price:27.20
share buyback
Tue 23:06
omg frus what are you blathering on about? to remind, this is what the company told us recently. it's really not rocket science.
On 25 September 2018, the Company announced its intention initially to return not less than $10 million to shareholders through a share buy-back programme (the "Programme"), once it had completed its capital reorganisation. Whilst the reorganisation was expected to complete during October/November 2018, it has been delayed whilst awaiting confirmation from SunTrust that it has no objection to the Company undertaking the required capital reorganisation nor will it in any way seek to impede the process. The Company is pleased to confirm that it has now received such written confirmation from SunTrust.

Following this confirmation of no objection from SunTrust, San Leon will apply to the High Court in Ireland to approve the reduction in the Company’s share capital so as to create distributable reserves and thereby permit the Company to make distributions to its shareholders, by way of the Programme. The Company is applying to the Irish High Court as soon as practicable and has been advised that this is a procedural process, having already completed all requisite requirements. Upon court approval, the Company must then advertise to provide an opportunity for any creditors to object to the capital reorganisation.
bluerill
Posts: 176
Opinion:No Opinion
Price:27.20
RE: .
Tue 20:48
There is no 'coming capital reorganisation', you shameless mouth-breather. What there is, is 1. a simple court action to bypass the normal requirements for a company to return capital to shareholders, so that San Leon can take the extraordinarily positive step for a company its size and buy back up to near-10% of its issued share capital, and 2. you've been owned. Again.
frus
Posts: 2,189
Opinion:No Opinion
Price:27.20
.
Tue 19:54
Forgot to say Tim you didn't say what effect you thought the coming capital reorganisation would have on shareholders
mclean91
Posts: 98
Opinion:No Opinion
Price:27.60
RE: Capital Reorganisation
Tue 15:15
Between your ears, A VOID.

Should have read!. Lol.
mclean91
Posts: 98
Opinion:No Opinion
Price:27.60
RE: Capital Reorganisation
Tue 15:13
Wake up not so brights, you can see what's better your ears. A VOID. Lol.
Brotherseven
Posts: 1,169
Opinion:No Opinion
Price:27.60
RE: Capital Reorganisation
Tue 14:08
yaaaaaaaaan.
mclean91
Posts: 98
Opinion:No Opinion
Price:27.50
RE: Capital Reorganisation
Tue 12:43
You said you sold once and bought back in so whose fault, you have to get over the fact that aim is highly risky.

Back then sle were just an expo co, they are very much in a different place now. Move on!.
frus
Posts: 2,189
Opinion:No Opinion
Price:27.50
Capital Reorganisation
Tue 12:30
We already had one.....Not much point in dividends or share buy backs when your 180,000 s h just got reduced to 1,800
mclean91
Posts: 98
Opinion:No Opinion
Price:27.60
RE: into the future 2
Mon 13:08
Alaric and bluerill your posts are both still on iii and advfn.
quelfromage1
Posts: 614
Opinion:No Opinion
Price:27.60
RE: into the future 2
Mon 12:32
Even my innocuous little comment has gone ...
bluerill
Posts: 176
Opinion:No Opinion
Price:27.65
RE: into the future 2
Mon 10:51
surely this is some sort of brainfart type of error by an LSE mandarin, Alaric? How could anyone, squirrel or sentient, raise a reasonable objection to the dissemination and analysis of a couple of publicly available announcements, no matter how vigorous the objection of a deeply ethically compromised complainant?
Alaric
Posts: 303
Opinion:No Opinion
Price:27.65
into the future 2
Mon 10:25
well we seem to have lost some factual posts here from the end of last week. facts are the squirrels' most feared enemies, so i think we have a fair idea what's happened. anyway to recap, we believe that San Leon has already placed its ads in the Irish Times under s.85 of the Companies Act 2014 , giving notice of their motion today in the High Court in Dublin. this seeks confirmation of San Leon's resolution for its capital reorganisation. This is now believed to be a formality, which is required to enable San Leon to commence its already announced share buyback. Hopefully we will be hearing more on this very shortly now.
PC01
Posts: 138
Opinion:No Opinion
Price:27.65
RE: Big buying ?
Mon 09:51
Would it be possible that said big blocks are the last of STTs stake ? Just a thought... But then I’m not sure that would make sense as I remain of the view that that block will face moved hands at a higher px to ensure STT and the silly court nonsense doesn’t rear its ugly head... so probably an internal cross at Tosca or Capital...
bluerill
Posts: 176
Opinion:No Opinion
Price:27.60
RE: Big buying ?
Fri 06:53
Its just a cross between accounts. Nothing to see here
bandit1
Posts: 587
Opinion:No Opinion
Price:27.30
RE: Big buying ?
Thu 22:21
Yes indeed and I would like to know who is buying and who is selling that size of block. Could be someone shifting between accounts or a multitude of other reasons. All will be revealed in the fullness of time as someone once said.....!




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