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SOU CEO responds to investor questions on its projects in Morocco and Italy. Watch here

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SOU CEO responds to investor questions on its projects in Morocco and Italy


San Leon Share Chat (SLE)



Share Price: 45.75Bid: 43.00Ask: 45.75Change: 0.00 (0.00%)No Movement on San Leon
Spread: 2.75Spread as %: 6.40%Open: 46.00High: 46.00Low: 42.00Yesterday’s Close: 45.75


Share Discussion for San Leon


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Pspeedo
Posts: 67
Off Topic
Opinion:No Opinion
Price:45.75
RE: Tosca
21 Nov '16
Eroton made nearly $68 million profit last year, with production going up 100% only a fool would think that profit hasn't increased even more and that sle would be paid.

Taken from ii

The funding and acquisition mechanism provides the Company with protect via the existing hedging arrangements, which are currently at a strike of ~$95/bbl less costs of ~$3/bbl, with ~6mm bbl existing under contract.

6mm bbl existing under contract @ $91.50= mega $$$millions to eroton!!..

Eroton will be 50% owned by Martwestern
(100% owned by BidCo)

Martwestern is entitled to a 90% share of distributions

eroton..2015 Revenue US $184.4 million*, 2015 Profit after tax US $65.7 million*

*Revenue and profit generated includes income from $95 per barrel hedge
*Eroton Audited Financial Statements 31 December 2015

SLE receives preferential payment on US$173 million BidCo issued notes and interest

Payments from BidCo commencing at end of 2016 and paying quarterly
 
honestsid
Posts: 1,370
Research
Opinion:No Opinion
Price:44.00
RE: Tosca
20 Nov '16
Of course SLE will be worth more than nowt when the RBL is paid back. That will be great news. Any ideas how long it will take? Any idea how much it is?

Come on Osin let us know please.

"Eroton continues to accrue cash from OML 18 operations into the Debt Service Reserves Account (“DSRA”) attached to the existing Reserves Based Lending (“RBL”) facility. Cash flow to San Leon will begin once sufficient funds have accrued in that account"
honestsid
Posts: 1,370
Observation
Opinion:No Opinion
Price:44.00
RE: Tosca
20 Nov '16
Mcap about the same as what they owe in legal fees and payments to Avabone then? What are the other debts still owed and running costs not being covered by any income yet?

So that must make SLE worth about nowt then or even minus nowt?

No wonder Tosca had to help them out rather than buy them out.
Pspeedo
Posts: 67
Off Topic
Opinion:No Opinion
Price:44.00
Tosca
20 Nov '16
Could have bought out sle during or before the takeover last year for around £18 million without helping sle with this deal and then paying £97 million in the placing.

Sle Macap is worth more than 18million now!!
honestsid
Posts: 1,370
Off Topic
Opinion:No Opinion
Price:44.00
Wasn't rawicz actually
19 Nov '16
the biggest find of its kind that Poland has had for 50 years or some such wording?

Wasn't rawicz actually a company changer at one time? It seems to me it is now, the money raised in the fire sale will help pay off Avabone and other legal costs I suppose.

In my very humble opinion the deal should give SLE a bit longer on AIM before being taken private.

All guesswork from me, nothing factual here. Lets see how this prediction goes eh?

Have a genuine people weekend.
honestsid
Posts: 1,370
Off Topic
Opinion:No Opinion
Price:44.00
RE: San Leon - Where is SLE heading..
19 Nov '16
North for Directors and Hedge Funds, South for ordinary Joes. At a guess.
honestsid
Posts: 1,370
Off Topic
Opinion:No Opinion
Price:44.00
RNS
18 Nov '16
LOL
Pspeedo
Posts: 67
Off Topic
Opinion:No Opinion
Price:44.25
RE: San Leon - Where is SLE heading..
18 Nov '16
Npi of seikeirki.
Pspeedo
Posts: 67
Off Topic
Opinion:No Opinion
Price:44.25
RE: San Leon - Where is SLE heading..
18 Nov '16
Sle through the placing paid the monies borrowed from tosca back hence sle are being paid the loan plus 17% interest on top.

Sle originally got $20 mill from palmar and this amount of $9million is a nice some as we haven't heard nothing from palomar regarding gas connection tie ups and the like, so sle has taken the cash no more investment plus have a tidy 10% npi

We have a great producing asset in oml 18 and cash flow will be quicker than rawicz!
BlackSwan
Posts: 400
Off Topic
Opinion:Buy
Price:44.25
San Leon - Where is SLE heading?
18 Nov '16
Off the wall future scenario/comments assuming SLE/Tosca/OF do not want small PIs in the company.

A certain tidying up and a consolidation of assets whilst minimising of liabilities has been taking place - Poznan/Avobone/Barryroe - company emphasis has been placed on retaining a relatively small percentage return of other peoples efforts/risks whilst eliminating their own liabilities - my question is where is all this taking the company or even will the company even continue to exist in the future?.

A large portion of the Nigerian share deal went into three of Tosca's funds - sorry I don't recall their names (was it in some RNS ?) - anyhow the company's current focus is now on Nigeria but will SLE aka Tosca really want or need to get involved with any actual field exploration and development work in OML 18 given they already have - 17% interest on loan capital, 25 pence share options and guaranteed future ownership/return based on a percentage of OML 18 production profits into the future a la the Palomar/Barryroe investment model all this could/would make a nice return to the bottom line of Tosca's funds..

If I were the Rottweiler and the Nigerian adventure survived or even prospered preferable without any further work over costs or exploration from myself I would then look to buy out existing SLE shareholders via my Mauritius subsidiary, pack the acquired assets into my fund portfolios ensuring that anybody who wanted returns out of the Nigerian OML18 holdings would have to do so by buying into my funds with percentage entrance fees and annual management fees. Meanwhile the share price just sits there at 43.7 pence today.




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