We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Things are still in flux, so I don't think I can give anything other than guesswork at this stage.
-As with all negotiations, there is continual pulling and pushing right up until things are signed, and nobody gets everything they wanted, it's all compromise.-So yes my thoughts were that we would lose the loan repayments and interest, as these would be offset against the size of any equity issue,-- but maybe not all of it.
-SLE (Oisin) has rather put his head on the block with those podcasts and interviews, all stating the policy of returning "spare cash" (50%) to SH by way of Dividends, and I'm sure he was anxious to stick to his words,--- of course things could look entirely different now, but not necessarily a total reversal.
-I agree with you that part of the outstanding loan and interest money could be kept out of the new Co, and returned in full to existing SH's----------but we'll have to wait and see.
-
-The thing that could be of greater importance will be how much of ELI we will finally finish up with, (100% would be really great), but maybe a tad optimistic----again we will have to wait and see.
-
-Will we get the 18% held by Sahara Grp at some stage, or even the NNPC holding----------all thought for the future.
-
-First lets get the pipe line and FSO up and running. and get it up to full capacity of 100/- BOD---that should get our production to a stable 25/-BOD, and then we can build on it, and our earnings from OML18 should fly.
-
-With the amount of time we have already been suspended , I'm sure things are going well, and that this deal will definitely become fact, and hopefully in the not too distant future (I think the resignation of our CFO spoke volumes about the progress that has already been made)
hi redeye. given how consistent Oisin has been over time on the declared strategy of paying '50% of free cash flow ' as dividend and that we're now a year on since the special dividend, my guess is they will want to keep some of the loan for this purpose on any announcement of the rto. it is inevitable in my view though that a significant amount of the loan would get used for equity in a new enlarged san leon, with of course a bigger share of OML18. if we are now finally only a couple of months off from commissioning of the ACOES , then that would suggest the 'new' san leon would start off as a serious revenue generator both from 50000 bopd without losses and from the new pipeline itself. what do you reckon?
Morning Al----there were about three or four of these podcasts, and they all highlighted the potential future dividends (about 50% of "spare cash"), which was fantastic.
-I wonder now how this RTO will affect our immediate cash position.----Will the outstanding loan repayment amounts be swallowed into the bargaining pot, and become part of the RTO deal, leaving us waiting for future earnings before we see another Div payout ?
-
-No point in asking the Co at this point, because they are still in the middle of negotiations, but what's your thoughts?
Is it 'nice' to have it confirmed your expected cash has been delayed indefinitely? Not that it is any surprise to those of us who have watched the pattern of operations here over the years.
Meanwhile production goes on and SLE is taking losses on every barrel ...
Here's another update ... from 18 months ago, Jan 30 2020
The ELI Akaso is expected to arrive shortly into Bonny port. Energy Link Infrastructure (Malta) Limited ("ELI", the third-party provider of ACOES) has informed Eroton, the operator of OML 18, that the following activity is expected.
- All government and regulatory approvals for project construction have been received;
- February 2020: site mobilisation;
- March 2020: installation and completion of the Cawthorne 2 & 3 pig launcher and receiver platforms; and
- May 2020: completion of pipe laying, and commissioning of ACOES.
Oisin Fanning, Chief Executive Officer, commented:
"The operation of ACOES is expected to be a major catalyst for the success of OML 18. We have long described the challenges to pipeline losses and downtime on the existing NCTL pipeline and ACOES is expected to reduce both significantly."
Theosus- now you could apply the same logic for the current reverse take over that is currently taking place - hope not but payments have been delayed.
Could be Ireland's bad loans agency. Appropriate. Nothing else fits on Google
Not Alot MAte
So clever, I wrote it twice.....anyway, under the working hypothesis that we won't see 'shakinallover' again until his next opportunity to stand in for other trolls who've been banned, does anyone else have a guess as to what NAMA was meant to stand for?
Ok, i'll bite, brand new, totally legitimate stranger: The National Asset Management Association? The National Automatic Merchandising Association? Not All Memes of America? Never Again, Maybe Again? Now Always Maybe Altogether?
Ok, i'll bite, brand new, totally legitimate stranger: The National Asset Management Association? The National Automatic Merchandising Association? Not All Memes of America? Never Again, Maybe Again? Now Always Maybe Altogether?
Has San Leon become the new NAMA?
A nice little update.
Oooops. Poor bs. You finally manage to summon up the stones to actually face me on calling you out on yet another of your baseless, innuendo-dripping posts, and your lame attempt to slur me as some kind of company insider ends with you getting owned by a new-ish poster who rightly schooled you that what you smugly implied was me being unethical, is actually a foundational exercise in basic research available to any small investor who isn't boneheaded enough to not realise how simple it is. Run-on sentence maybe but....ya burnt
Nice article this as oml18 holds trillions of feet of gas just dying to get to the EU market.
https://www.theeastafrican.co.ke/tea/business/nigeria-planning-trans-sahara-gas-pipeline-designed-to-reach-europe-3498178
Too near!, any shareholder can ring head office to arrange a meeting with management, that includes you bs
Bluepill- Thanks for that - I have always thought you were too "near" to SLE to be able to post any truly objective comments on the company - all explained - I leave it to you to work out what "near" means in this connotation.
You met 'Lisa', have you? I have and she said she doesn't want you referring to her by her first name as if you know her. Its Ms Mitchell or the CFO to you. Oh, and what the hell does 'a bridge too far' mean? How about, She knows she will be excess to need post the merger so she jumped before she was pushed maybe.
A bridge too far for Lisa maybe - RNS - " 2 August 2021 it accepted the resignation of its Chief Financial Officer and Executive Director, Lisa Mitchell, "
I am left wondering if our SLE/OZA financing funds are still in held escrow and or whether Millenium has finalised its large Nigerian Bank loan for the OZA project MMM? Meanwhile, Decklar pursues further fundraising in Canada for Nigeria - seems though with their new PR firm they will provide better information to Decklar shareholders than our own SLE who has a preference to just appoint more senior executives to the company with apparent experience of the Nigerian market.
Toronto, Canada -- Decklar Resources Inc. (DKL-TSX Venture) (the “Company” or “Decklar”) is pleased to announce a $1 million Unit Offering and to announce the execution of a contract with Native Ads, Inc. for investor relations and marketing services.
Unit Offering
Decklar is proposing to complete a non-brokered financing to raise gross proceeds of up to $1,000,000 by way of a unit offering (the “Offering”) at a price of $1.00 per unit (a “Unit”), with each Unit consisting of one common share of Decklar (a “Common Share”) and one-half common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $1.50 per Common Share for a period of 12 months from the closing date of the Offering. Decklar has engaged Echelon Wealth Partners Inc. (“Echelon”) as strategic financial advisor in connection with the Offering. Decklar will pay a finder’s fee to Echelon (and certain other arm’s length third parties) based upon the gross proceeds of the Offering received by the Company from investors referred by Echelon (and such other arm’s length parties) and will also pay Echelon an additional fee for strategic advisory advice based upon the aggregate gross proceeds of the Offering.
Funds raised by this planned Offering will be used to pursue new oil and gas development opportunities in Nigeria and for general corporate purposes.
The Offering is subject to approval by the TSX Venture Exchange.
A9p knows sle very very well pheb he said so yesterday, maybe he can share that knowledge with you
Currently I get 10.584% via Eroton 27% (Martwestern 98% (MLPL 100% (SLE 10.58%, Midwestern 60$))). Following the Midwestern RTO I get 26.46% for SLE. However, I note also a 15% stake in Decklar Petroleum. How does this alter the percentages net to SLE? Thanks.
two three posters here not let people have opiniun of own but try clever words and be big bully boy to yak up the red lion and look like all together sinkronised swimmers.
look see this advise i get.
the initial frames for a stock pitch are often made by just a few very vocal, highly intelligent and confident people. People often defer to authority figures (known as authority bias) and so these ideas are shared and accepted by a growing number of people without critical thinking. This creates an information cascade that denies independence of thought, especially amongst time poor private investors.
this a great traders share. i happy for it go up or down.