San Leon shareholders may reap $50m dividend San Leon Energy, the Irish oil and gas explorer, could return up to $50 million as a dividend to shareholders in coming years after a financial reorganisation that will see revenues at the company climb significantly. Market sources estimated that earnings from its acquisition of an onshore producing oilfield in the Southern Nigerian Delta could be in the region of $100 million per year. It is thought that San Leon could redistribute up to 50 per cent of this to shareholders.
If you hadn't noticed most countries other than the US are not in the best of economic shape. It is a no-brainer that the article "Lost Year in Nigeria Under Buhari Leaves Economy on Knees" has little relevance to SLE other than there is likely to be increased efforts to stabilise the economy especially the primary earner which is oil.
"the daily route had under-performed for years" - um....I guess this indicates the route was under-performing even when POO was over $100..... other carriers are still flying. capital controls are unlikely to remain once the POO has settled and budgets adjusted.
Dig deeper, I wonder what will be the topic of concern today?
Yawn, yes sleep on. International airlines cutting their routes as they cant get their currency out. United Airlines service from Houston pulling out completely. Oil production near a 27 year low.....yawn. Now tuck yourself up and put some Calpol on the soother.
only tangled and complex for those with limited cerebral ability I guess.
i think it would be very worrying for SLE if they had bought into a venture in Kurdistan were the KRG is not paying the operators their full dues - however Nigeria, for all its faults, has had a functioning oil industry for many years that has had issues but continues to function - and operators continue to be paid. This current spate of sabotage will last a bit and then disappear as these things do and then there will be some other issue - but Nigeria will still pump and export oil and operators will still get paid and the informal economy and the informal wealth redistribution will continue....
yawn - it would be great if you could post something relevant and interesting, but perhaps a challenge too far.
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