Thanks SloppyJoe for the reply. I am invested for a profit. I bought at just over 4p and I was seriously worried (still a bit) for a long time but I believe the tide is turning. I do believe there will be an upward trend. Oil prices will go up eventually.
Fracker, it depends upon which perspective you want.
There are execution risks with Rawicz and with completion of the deal in Nigeria. There are political risks in any country and Nigeria certainly isn't the worst.
The main thing to remember, if you're invested here for a profit, is that if there is success with Rawicz, which looks very likely, and if this deal completes, then SLE will be sat with £275m of producing assets, net of any debt.
As a result, the SP will re rate upwards - the market can apply any discount it likes over any concerns, political, geographical or reputational. Even if it applies 90%, we're set for a 135% uplift from current levels.
This company is valued at cash. It is hugely undervalued based upon the development and exploration assets it already owns. Nigeria is only upside - just a question of how much and whether the deal completes.
Success in both areas will be multi - bag returns from here.
OML-18 is a masterstroke for a number of reasons, but also because it will be operated by an INDIGENOUS company. There has been anger in Nigeria against the multinationals AND foreign owned O&G companies resulting in vandalised infrastructure but Midwestern are owned by Nigerians, ran by Nigerians and employ Nigerians.
SLE as relative silent partners doing service deals in the background and creaming off 10% of production is pretty genius in my eyes. Company making.
1st smith, I hold quite a number at under 30p, how many and the exact price you will excuse me if I don't say as by what I have seen on the other side any positive poster here is re posted by a known crusader as I said yesterday.
but by what I read over there he is on course to face a court case for defamation, libel and slander, I know he reads this blog so it will give him something to think about as I am going to send SLE his posts to add to the list of shareholders finding his content totally appalling to the business of SLE and the good of shareholders confidence.
2nd Smithy, The why"s and wants of us normal shareholder will not know, but I expect any information regarding it will come out once/if the deal goes through, if it does maybe more detailed info will be released.
SLE are at an Investor talk in April and hopefully anyone going could ask and tell us here! what do you say Sid?. Why don't you go Frus!!
Personally this Nigerian news has come at a great time for me , R15 as well to come and anything else!!. if the deal goes through and once shares are back in the market, I can see over £1 to £s, as by going on longtermers its 1p onwards and no dilution.
For the record ,how many shares do you actually hold in Sle ?lack of transparency means that you can evade the question,but let's assume you're a genuine investor of some integrity and will answer this simple request.Lol
I do see your point but it is not my intention to dampen anyone's enthusiasm, it's just that many of us on here have seen the same scenario so many times you feel obligated to question or point something out.. Example/ The OML18 deal I am pointing out that Mart have only owned it for some 12 + months and this is already their 3rd attempt at selling it.....I question why Shell sold it to them in the first place, I question why Mart must have been trying to sell it after only owning it for about 6 months. I do this in the hope that others may find more about it for the benefit of all including myself....I certainly don't deliberately set out to dampen anyone's enthusiasm. If in the end it turns out to be good news, that's great but equally if it turns out bad then I would expect everyone would want to know that also.
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