Good to see the penny's starting to drop. All this nonsense of multi-bagging upon re-listing has proved to be just that, nonsense. Nothing will happen until SLE start delivering on their promise. If and when we get proof of income, then it will be a very different story.
You do agendas eh ??????..........What's that supposed to mean. Agendas don't inhibit your ability to read do they. You will see in my post that I mention PNR throughout they are our JV partner with a defined work programme agreed by both of us. Yes they are the operator with 65% working interest we have 35%. Are you suggesting that because we have the minority interest we have given up the right to be kept up to date at all times of any progress on what at the time was called a massive asset, even at 35%.. If your a genuine shareholder why would you not want to know that. I'm sure SLE keep in very close contact with them.
Of my response to the Times article was that Fanning's reputation is in a rather poor state, due to his history of failing to deliver on promises and his greed with the company finances.
I thought the article was garbage but it does raise the possibility of a perceived lack of credibility for the company due to his involvement. This deal is an absolute monster - possibly one of the biggest deals in the history of O&G relative to the size of the company, yet in getting it through, Fanning has yet again failed to deliver on his promised placing price of £1.05. If he'd have landed it at that price, all his critics would have been eating huge slices of humble pie but as it is, it looks like something he's always done, hence the sentiment, hence the article.
The market is entitled to be sceptical due to Fanning's past failures - as it is, it looks as though the BOD will need to produce something concrete before the market takes it up en masse. The deal is fantastic. The figures are huge and the chance of success very high but as yet we haven't seen anything like the true value reflected in the SP.
As much as Frus and his associates never sound like anything more than a sad bunch of trolls, there was probably a point to be made with this and it may have been relevant to the current picture.
Sadly, they simply tried to turn the bb into a childish argumentative farce again.
To our last company changer. Anyone remember PNR Do they still exist. We first heard of them in a RNS way back on 1st July 2014. When they were announced as our JV partners in Poland. Announced with much excitement PNR has signed a JV agreement with us across 7 concessions in Polands Permian Basin....SLE is carried for defined initial work programme aimed at bringing the Rawicz and Siekierki fields into production ASP. PNR supposedly founded by JB in 2013 our previous exploration director but who's money was backing him no one seems to know....The carry plus 10% return will be repaid to PNR from half of SLE production revenues from Rawicz. First well is planned to be drilled in Q3/4 2014 including completion and testing. The goal of recompleting 3 wells is to focus on higher quality reservoir intervals and for work overs to begin late Q3 early Q4 2014. These wells produced an average of 3mmscf/d during previous testing and the work overs will target additional reservoir zones and improved flow rates and ultimate recoveries from the significant resource potential of the Siekierki field. On both the Rawicz and the Siekieriki field's the above work programmes aim to provide the justification to construct production facilities and pipelines and to achieve near term production. I'm sure I read somewhere that the results for Rawicz 15 were not quite as good as Rawicz 12 but can't find anything official from SLE..We last heard from PNR in a RNS on 6th Jan 2016 which said Rawicz-15 drilling well has now completed and that production will now begin in early 2017. If it happens it will not quite be the early production we were all led to believe as it would then be about 3 year's further down the line. I do stress IF because this one show's all the signs of all our previous game changers. Why do we no longer here of any progress or time lines from them. If we did not have this latest distraction (OML 18) everyone would be screaming for news.
San Leon has the right to provide oilfield services to Eroton.
So DisH Frustrated et al - what does this mean?
How many more wells can be drilled/ will be needed at OML18? Can they get all the Oil out with what they've got? How much does it cost to drill a well? Is there profit in being the contractor for these services?
When all the ducks are in line we are taking off :)
Maybe Fanny should replace the PR company in the UK at least his Dublin based agent managed to keep this from Irish investors whom probably account for a significant number of small,gullible PIs.Long term hold.
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