Plenty of good News to come from Nigeria. From an Article by Evan Kelly 28/Jun/2016.
Nigeria looks to attract $40 to $50 billion. Separately, Bloomberg reported that Nigeria is hoping to continue to boost oil output after attacks crippled the country’s production in recent months. By the end of June, Nigerian officials said production had climbed from 1.3 million barrels per day (mb/d) to 1.9 mb/d, successfully bringing back a sizable portion of its disrupted output. In July, if pipeline repairs can be completed, Nigeria hopes to reach 2.2 mb/d. The next step is to attract $40 to $50 billion in investment from international companies to shore up the country’s oil sector. Nigeria recently inked a deal with China North Industries Group Corp. for $8.5 billion.
Thanks Frus. Read a lot of confusing stuff about under capitalised investment companies but then referred to current AIM Rule 41. That stated that suspended shares would be cancelled after 6 months, without any qualification. So agree with you, on the face of it there's a major problem.
We are not in the middle of a placing. Our shares are in suspension and have been so for nearly 6 month. Don't worry about the fund manager he wont have to explain anything. He will own the show and all that comes with it.
Hi callas..cheers....Re 6 month suspension rule......Just google (AIM rules regarding reverse takeovers and shares in suspension) Quite a few sites come up at least one shows all AIM rules but the 6 month rule differs to some extent depending on the companies status and what its supposed to be attempting to do.
Buhari has authorized discussions with Niger Delta militants – Kachikwu By Seun Opejobi on June 28, 2016
Minister of State for Petroleum, Ibe Kachikwu on Monday disclosed that President Muhammadu Buhari has authorized the opening of discussions with the Niger Delta militants.
Speaking in China on Monday, Kachikwu told Bloomberg that due to the dialogue with the militants, the country is bringing to experience good fortune in the area of oil production.
The Minister explained that Nigeria’s daily oil production which surged back to 1.9 million barrels after dipping to about 1.4 million per day between May and June will reach a high of 2.2 million barrels per day by July after the Forcados terminal must have been repaired.
He said, “All the way from January right through to about April, we were producing an average of 1.9 to 2.2 million barrels, which is basically between the threshold of 2.2 that we budgeted for the year.”
“Obviously in May and June, we suffered a lot of militant attacks, which took us down to about 1.3(million). We’ve managed to begin to lead conversations with the militants, a lot of engagement is taking place on the authorisation of President Muhammadu Buhari.
“We’ve been able to get production up back to about 1.8/9 million barrels per day as of two days ago. We are continuing those conversations and by the time the Forcados line is repaired in July, we should be able to come back to our production ceiling for this year, of 2.2 million.
“Things are looking up, engagements are trending positively, we’ve been able to make in-routes into those conversations, but what is more important is the need to continue that momentum and the need to look to a long term solution to the Niger Delta crisis.”
We are in the middle of a placing to raise a min of $200 mill, and these shares are being offered to ii around the city.----Can you imagine what would happen if SLE issued all these shares to ii's and then de-listed ???? -If I was a fund manager I wouldn't like to try and explain were all my funds had disappeared to---------so I don't think there is a cat in hells chance of SLE somehow being de-listed and vanishing. - -Patients please.
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