Rawicz 12, if produced, it can't be because there is no facility, but lets pretend, what would u spend the 166 boed equivalent on. As a rough guide it should produce after production costs 1 mill euros a year free cash flow.
Even though the oil price has halved, the carry value of Barryroe has gone up, in fact the 4.5% NPI is worth more than PVR who own 80%, amazing what accountants can do with figures, after all it never stopped Rob Terry.
Not quite sure if I get this. Do you mean at this moment OF owns a property solely used by SLE for business purposes and for which he charges the company an annual rent of £96k....In addition to this SLE has taken out an option to buy this property by paying a fee of £300k..Who currently holds the £300k?...Finally how did OF come by this property, why did he buy it, how did he buy it and what is it's market value????
Just run that past me again. Am I correct in thinking San Leon has bought, for £300,000, the right to buy a house at market value? (At market value is not a special offer, should the house be on the market then I could purchase it without the need of the £300,000 refundable,extra)
It dose't make sense, why would SLE need a house in Ireland when there are no assets in Ireland as such and SLE are a Oil and Gas company not an estate agent.
Toscafund is not currently proposing any changes to the Board of the Company, nor is it the current intention of Toscafund, following the Placing to seek any change in the business of the Company or its subsidiaries, in the manner in which the business is carried on or in the deployment of fixed assets or its subsidiaries. Toscafund has confirmed its current intention not to interfere with or prejudice the existing employment of the employees and the management of the Company and its subsidiaries.SOURCE:San Leon
Mr. Oisín Fanning San Leon holds an option to acquire a property at market value from Mr. Fanning. The option has a remaining life of twelve years and the option fee of £300,000 is refundable when the Company either exercises or terminates the option. Mr. Fanning was paid £96,000 rent for the use of this property by the company. The property is available for use by all staff and consultants requiring overnight accommodation while conducting business on behalf of the company. His salary and fees were 1,465,261 euros.
Sanleon in essence , is restarting again from the beginning. When they listed they had 5 million, with 360 million shares. When they raise their cash they will have 29 mil and 68 million shares. Now they own barryroe 4.5% free carried interest. Would that equate to 30% gross stake before Reilly dilitutes? Plus polish gas find. Plus Moroccan potential. Indeed at long last , they will be drilling in September. So , big polish write offs , so what. What next, the company properly managed by Tosca will no doubt acquire some cash flow oil lies. You can be well assured you are looking at a very different Sle now , I think a few heads will also roll in the clean up. Nothing is going to happen until the Greek saga is over. The Europeans have made a right mess of it all. The commissioner hand picked by Merkel never had the ability to sort out this mess. Heads will have to roll in Europe and Mr Cameron has to take control. Lucky UK , no euro! You can thank Gordon Brown. We are in for months of turmoil, Imagine, If your company is persistently being squeezed by its bank, what do you do, close it , give them 2 fingers and start up again. Or if the bank wants a deal and does not want to write off its debt. The bank has to place 60% of the debt in an escrow situation in the hope if it funds the company that it may , continue to exist and maybe, if things change over the long term, one can write down the debt with balanced repayment. So Junker , inexperienced puts the boot in and the Greeks, say No. Yes they did the right thing. Junker and Merkel coupled with lame duck Hollander are rudderless, Why because The UK with all its experience are not at the forefront , my message to Mr Cameron is , you have to take control, otherwise the UK will suffer badly Anyway SLE will survive and with the tenacity and experience with balanced control of Tosca will surprise us all, watch this space
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.