"at an investigative hearing organised by the Senate joint committees on Petroleum (downstream and upstream) and Finance on alleged unlawful and wilful misappropriation and criminal withholding of public revenues by NNPC and NPDC from 2013 to date",
"San Leon has been informed by Eroton that the timing for the satisfaction of these conditions is influenced by the receipt by Eroton of the outstanding balance of historic cash calls from the Nigerian National Petroleum Corporation."
So, as far as I can make out, even if there was an extra 200,000,000,000,000,000,000,000,000,000, kbpd per second, SLE will still not get paid as in the very complicated deal, it would seem to me from the above FACTUAL WORDS FROM A SLE RNS, Eroton don't have to hand over a dime until THEY get paid by NNPC, whose ex-boss is under investigation for having 10 Million in unexplained cash stashed at his property.
Happy to be corrected, or perhaps you can get dmin to remove the post if you are fearful of its content. LOL.
Team rampit up got their "complaint" into admin quick. Here is my post again, without the LINK'S to multi ID's being used by them across many bulletin boards.
It makes no difference as to what the production figures may or may not be as SLE get no money until NNPC pay to EROTON, its a complicated deal that has many pieces in the jigsaw. Until all the pieces fit then SLE get no money from any production that is (or isn't) happening. Happy to be corrected. Correction is NOT getting my post removed because you fear what it states and need to remove honest opinion before people find out the truth.. LOL
The NNPC is as corrupt as any other Nigerian business and currently owe approx $5 BILLION to oil companies with not much chance of paying it back as far as I can see. 1. they havent got it. 2. the countries in recession.
From the horses mouth, COMPANY RNS, " No income from production has bee received, as on 30th Dec 2016".
Fact "NNPC, must be asked to settle a total sum of $4.977 billion owed as liabilities."
.Its not a Fact that SLE will get paid, until they ARE paid.
Yes I am sure Eroton will get paid one day, but not one day soon, This is Nigeria, the worst place in the world for fraud and money manipulation. It may even take a very expensive court case, but then Mr. Fanning, or should I say SLE, is no stranger to having to spend loads on legal fees, and loosing sometimes.
All in my opinion of course and you will need to do your own research to verify that I have got my facts right.
A former head of Nigeria’s state-run oil company is under investigation after almost $10 million in cash was found at a property he owns.
With this sort of shenanigans going on what chance is there of the NNPC ever paying Eroton? Until Eroton get paid, I understand from reading a SLE RNS, midwest don't have to be paid and SLE don't have to be paid. Correct me if I am wrong. Complicated deal with many many jigsaw pieces to assemble before any payment from production comes our way.
The boss of Nigeria's National oil company under investigation, what chance do we have eh?
"One wonders how the SP might react if Fanny was shown the door?" My guess would be a shortlived spike that we are so familiar with. The immediate future SP depends on Nigeria, the key event being the first payout or of couse take over.
Concur,though I've spoken to some whom think T have their own problems,got it wrong on Brexit and a few others not out of the woods here either as they will discover in due course.One wonders how the SP might react if Fanny was shown the door?
Hey Sloppy, as 90% of what you have said over the last 5 years has been so totally wrong, I will take it that there is a good chance that Tosca may become more aggressive with SLE and us private shareholders.
Why else would they be accumulating. Its clear they want as much as possible and not for the benefit of us genuine private investors, oh no, sorry but they are doing it for their own clients.
Thanks for your valuable input Sloppy however your usual inability to accept an alternative and valid viewpoint may lead many to believe you are not what you say you are.
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