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Funny, I thought you were the fountain of all knowledge regarding SLE-----Seems you're not
No info yet on the Sittings page of the relevant website.
Here's the link. It's case ref 124/2022
https://ecourts.gov.mt/onlineservices/CivilCases/Detail/431603#
Any news on this court case then Callas????
... to have Eli wound up,
Big day tomorrow. Unless there has been any very recent settlement, the case brought by the ACOES pipeline contractor to Eli Infrastructure wound up is due for hearing in the Maltese Commercial court.
Thanks Naibob. I've never made any secret of my scepticism to this company and have explained why in previous posts. The combination of Fanning with his disastrous track record of failure with putting yours eggs in one basket in one of the most corrupt countries in the world should be a red flag to anybody.
How a $125m investment by an American real estate trust, with apparently no experience in the oil business or Nigeria, will pan out is anyone's guess.
For the sake of BlackSwan, yourself and others who are trying to recoup their investment here, I wish you the best. But I will continue to call out what I see as ramping, lies and barefaced innuendo.
I agree with that in principle. I can see the optimism and since I too have held shares for a fair while can discount it equally as fools gold if needs be, but there appears an element of malice in the intonation of the naysayers that makes me wonder as to a purpose over and above information provision.
Naibob - I'll vote for that!
You could argue it provides some much needed balance amongst the sometimes giddy positivity banded around this board.
As a LTH I want to see all news and comment, good bad and ugly, so that i can try and form my own opinions. I thank those that take their time to trawl through foreign media for pertinent stories, no matter what angle they lean on.
Personally I find the so-called 'negative squad' to be less disingenuous than some of the clearly rose tinted rampers. It's all a matter of taste of course but iv'e been around this share long enough to maintain a level of scepticism that will not have me pulling out the champagne every time OF proclaims a new company changing deal.....the proof, as ever, will be in the re-listing and the resultant market movements.
I just wonder why you would regularly want to spend time searching and posting negative press reports unless you wanted to influence and perturb others?
Alaric, Redmineeyes,
Is the Contingent Liabilities note in the 2021 Accounts incorrect?
Yes or no?
So you have no opinion at all about our last RNS??
readysteady, thank for being polite question asker.
i prefur to con****rate on historicul fact. the past show that lots n lots of the suposud good news dont happun or only half happun and it only bin good news for directurs wages and shorturs who now that in few weeks the good news aint so good and sp price fall again. so lets wait an see for re-entry time. nuthin much to discus til then.
so far them rabbits he keep pullin from the hat all got mixamitosis and soon die.
histury is proof.
If San Leon has sold on all its liabilities re Seven Heads in 2019, why is it listed in San Leon's 2021 Accounts as a Contingent Liability?
Alaric, Redeyemines, are the published Accounts incorrect?
Clearly the judge believes there's a case to answer or he wouldn't have admitted it for hearing in February.
Morning Afameuna, it's been a while since we have heard from you.-----I was surprised that you have not commented on our recent RNS,
---$186 mill of new finance which will see the completion of the ELI pipeline and the start of the FSO operations---all debts cleared and a huge new investor on board-----a real cash machine about to be switched on.
----Just wondered what your views on it all were.
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-Not too sure what the ins and out's of this decommissioning business are, ,---wonder if Ardilaun have actually paid any of those costs, and thereby admitted liability,---maybe you will know the answer.-----but that really doesn't matter too much at this stage.
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--What I really want to hear is your view on all our good news, ---look forward to your reply.
The decommissioning agreement provided that the minister was conferred with the authority to enforce the lessees’ PSE and Island respective obligations to share in decommissioning costs. Commercial production at the Seven Heads field ceased in July 2020,.
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-The field ceased production in 2020 , but SLE had sold ALL of its interest's (and liabilities) to Ardilaun in 2019---- In 2020 when commercial production ceased SLE were no longer one of the lessees, that responsibility had passed to Ardilaun in 2019.
----Do you really think, that if the field had continued production for another 100 years, that SLE would still be liable for the decommissioning costs ??
-As Alaric said yesterday---this is just an attempt by Ardilaun to pass the buck, now they have seen us win the lottery.
-All a lot of nonsense over some small beer.
You silly boy samalarik. agen you show you now nutting about your beloved cumpuny. you always doin smoke an mirror an runnin scared of the truth.
the facts nevur change your bigited posting. people mus wunder why.
See this ofishul admishun of liability 3 year aftur 2019 sale you menshun.
you lookin a ignurant fool agen.
RNS Number : 7694R
San Leon Energy PLC
08 July 2022
(e) Island Oil & Gas Limited Guarantee
The Company has a Guarantee in respect of the decommissioning liabilities of Island (Seven Heads) Limited, a subsidiary of Island Oil & Gas Limited ("Island"). In the event that Island are unable to pay the decommissioning liabilities, under the Guarantee, the Company could be liable for any amounts Island does not pay.
https://www.breakingnews.ie/business/minister-sues-san-leon-energy-in-row-over-decommissioning-of-gas-field-off-cork-coast-1551311.html#:~:text=The%20decommissioning%20agreement%20provided%20that,'%20obligations%2C%20the%20minister%20says.
As you say sam cr8p. we sold the bulk of our assets to Ardlaun in 2019. ask yourself do you think it's likely that we would retain contingent liability under such a deal? or more likely that they saw our recent fund raise and thought they would would try their luck? small beer anyway. it looks like Afake is getting pretty desperate now if he's scraping the barrel of the Irish media :-)
Yes, yes I know it's a newspaper but what other data do we have - Nembe crude low sulphur crude finding new markets in Europe Nigerian oil being forced to turn away from Asia by cheaper Russian oil and gas supplies - worth a read even if it is a tad lengthy - form your own opinion.
https://punchng.com/crude-exports-to-europe-rise-fg-boosts-local-supply/?amp
Alaric - you continue to disappoint in seeing the world in terms of good guys and bad guys all rather antagonistic as is your style.
Well, the long and the short of it is .. .
'SLE fortunes could at long last be on the turn, the oil we all know is there under OML18 we have only to extract it and get to market which is why I have retained my investment in the company even though it has been painfull at times.'
blimey BS have you finally seen the light and joined the good guys? but why the opprobrium?
Nigeria is drowning in debt, but then again you could say in this modern world who isn't (USA), and Nigeria will be forced to take drastic action indeed to increase oil and gas production. Nigerian oil production levels have fallen so low that NNPCL have been unable to provide adequate feedstock to Nigeria's new Dangote refinery near Lagos( largest in Africa apparently) due to the fact that high levels of already future "commited" oil output (i.e output that has already been commited to pay back financial loans). The Nigerians are also currently in heavly debt to Chinese and other banks to the tune of $4.7bio which has given even the Chinese Exim bank doubts over extending further new loans to Nigeria!
What has all that got to do with SLE I hear the one who sometimes uses the name Alaric, i.e. the one who lives in his OML18 and ACOES bubble, comment - well if immediate drastic action is required which it most certainly is then one of Nigeria's best OML to bring back on line as soon as possible is OML18 , it doesn't even need any "leaky"Nigerian pipelines to export product ssince we will soon have our ownoutput pipelines connected to Eli our ACOES.
SLE fortunes could at long last be on the turn, the oil we all know is there under OML18 we have only to extract it and get to market which is why I have retained my investment in the company even though it has been painfull at times.
Sorry BS but i don't see the remotest relevance of all this Nigerian media garbage to our business case. anyway you trolls are rather too eager to quote from said media seemingly ignoring the appalling levels of corruption involved. ive mentioned this to you before so here's a reminder of the extent of corruption involved: https://saharareporters.com/2021/09/13/media-organisations-nigeria-fuel-corruption-profession-abimbola-abatta