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Fantastic bring it on redeyemines is what I say, Afake etc dont hold nowt here, his post proves he isn't a shareholder of a company involved on oil&gas.
9p my ass I say to Afuni face .
---The last couple of pod casts and interviews given by OF, have made it very clear, that acquisitions ( JV ) are the next step.----------------With cash burning a whole in our pockets, we are very much on a shopping trip, and the end result must be guaranteed , sustainable income.
-Any acquisition that provides regular income will change the company completely, and will enable us to pay dividends, not just as "specials", but as "annual income", with all the different SP valuations that will bring-------regular divis== % yields, and the SP multiples that go with it.
-O Fannings " directorate dealing" was on the 12th May and i'll assume that nothing more could be announced for 30 days-------------so we're not that far away now.
-It's very much time to start looking forward to game changing deals--and remember any deals now will be done out of our current "spare cash"----------it has not stopped us getting a 6p divi, and being forecast to receiving another 10p ish in the near future (OF as a major shareholder now, will need that divi so i'm sure it will happen ).
-With the cash we have now, and the cash already committed to be heading our way , any new deal that provides more income, is just icing on the cake.
The link at the bottom of the story re wind turbine performance powering 18000 European homes per turbine is also quite significant getting more power per m2. But grid remains Achilles though bizarrely is perennial non story.
18 May 2020
San Leon Energy plc
("San Leon" or the "Company")
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, announces that Bill Higgs, Non-Executive Director of the Company, is stepping down from the Company with immediate effect.
Oisin Fanning, Chief Executive, commented:
"I thank Bill for his service to the Company over the last two years. His extensive knowledge of the oil and gas industry has been invaluable as we have progressed our business objectives. I wish him well in his future endeavours."
Bill Higgs commented:
"After two years on the board it is now a good time to step down as the Company advances the next phase of its strategic objectives. I wish the Board and the team continued success."
BS as usual bs. What could be going on? What disaster does it spell for SLE? O panic! Your buddy Fakey best get down to market for some fresh entrails or will the stinking rotten ones do? And Mary can write more hard romantic fiction about OF.
Why not at least try post something sensible instead of priding yourself as resident Richard aka dick.
Interesting partnership any implications for Eroton.
Seplat story with Eland oil and gas also tells a tale
Is there something going on with these old Shell/Chevron leases and a new generation of local companies?
Belemaoil Impressive company with strong local community links adjacent to OML18.
NIPEX Note: Land and Swamp operations are exclusively for Nigerian indigenous service companies that have a minimum of 51%equity shareholdings.
Yes you're right Alaric. There is a closed period 30 days before results under Article 19(11) of the Market Abuse Regulations. I assume we get the next results at end ofJune.
Does anyone know of the favoured bidder ?
TENDER OPPORTUNITY FOR THE PROVISION OF PIPELINE PIGGING AND CORROSION CONTROL SERVICES IN OML 18
NipeX Tender Number: 1000004494
Only Tenderers who are registered with NJQS Product/category (3.07.02 Pipeline Flushing, External/Internal, Pigging services) as at
April 24, 2020 being the advert close date shall be invited to submit bids (Technical and Commercial)
The Service includes the provision of personnel and equipment required for the execution of pipeline pigging and corrosion control services in OML18 swamp Nigeria or any other additional Permit Area in which COMPANY has the right to conduct petroleum operations within Nigeria. The contractor shall be responsible for the provision of the following:
• Routine Pigging for removal of Sand, dewaxing and descaling. This pigging will clean up the pipeline bore and thereby increase the volume of crude that is transported. It will also ease the pressure on the pumps in the flow stations.
• Intelligent Pigging for identification of defects that will affect the capacity and integrity of the pipe.
• Electronic Gauging or Caliper Pigging required to identify bends or restrictions in the pipeline.
• Defect assessment and analysis.
• Long Range Ultrasonic Testing (LRUT)
• Corrosion control services by injection of Corrosion Inhibitors or Biocides into the system.
• Six monthly valves servicing of valves on the pipelines.
The contract duration shall be for a period of two (2) firm years plus one (1) year optional extension.
Perhaps in your rule book Alaric but not in the grown-up rule book. Back to school methinks.
CEO said that the cost was $15/ bbl.
posted for days. will save up the post credits for another day.
just thinking of topping up. this share has been a life saver over the last 30 days.
Hi there, I have a new account but used this website in the gold rush of 2009-2011! I just wondered does anyone have access to field economics for OML 18, particularly interested if it's making money at these levels - I couldn't tell on the call CEO did recently whether the cash cost was $15/bbl or $50/bbl.
someone please correct me but i feel sure there is a reg preventing any significant release of news by the company for 30 days (?) after directors' share purchases. we are definitely due an update though.
Simply Wallstreet's recurring comment, besides CEO overpayment which all of us have been aware of for many years, was that the company has insufficient data to make any meaningful forecasts. Looks as though we'll have to give it another three years for SLE to generate sufficiently reliable data for stock analysts to make accurate forecasts vis profitability of the company.
While we are waiting I would comment that I have always been impressed with OF's tenacity in pursuing his goal of creating a profitable company in the oil and gas sector, somewhere and somehow, which has as a commitment to the distribution of cash flows to shareholders. To repeat what has been said many times by positive posters on this board - for new investors, this must surely the right time to invest in a company with no debt, positive forward income streams and with a current undervalued share price now must surely be the moment for investors to retain their holding or open a new investment in San Leon.
I wouldn't pay too much attention to posters on BB take them as background comments if you must but do your own research - I do often wonder what the top posters real shareholdings are if any, their motives so I am told range from stock ramping and deramping through to disturbing psychotics comments which they post on this and other BBs which I haven't even heard of - thanks bluerill for the information - as a general interest the Top 6 shareholders own 91.99% of the company.
Ownership Name Shares Current Value Change % Portfolio %
Toscafund Asset Management LLP 228,771,927 $54.7m -29.99% 5.08%
Oisín Fanning 107,495,864 $25.7m 1032.03% no data
Midwestern Oil & Gas Company Limited 59,276,439 $14.2m 0% no data
Brandon Hill Capital Limited, Asset Management Arm 17,814,825 $4.3m 0% 60.8%
Dimensional Fund Advisors L.P. 462,569 $110.6k 6.96% no data
Kristian Ainsworth 66,666 $15.9k 0% no data
Source - https://simplywall.st/stocks/gb/energy/aim-sle/san-leon-energy-shares
Correct redeyemines, but what the poster doesnt understand is that the sp went from 11p to 27p, which makes the poster an idiot, but his short has burnt him big. Lovely jubbly so glad as it proved up our theory of him as a non vested tike.
Unless I missed something we are due an update on the wells drilled and brought into production since 30 Sept 2019. Interesting to know how successful the drilling campaign has been up to now.
oap, oisin did say at the conference last Saturday that even though the bulk of the new wells will because of covid19 be put back he understands that 3 to 4 new wells will be drilled next year.
Though imo as oil recovers so will those extra added wells.
What will the knock on effect be to future income?
The Chief Executive Officer of Eroton Exploration & Production Company, the fifth-biggest independent, Ebiaho Emafo, reportedly told Bloomberg that the company has suspended a planned 50-well campaign aimed at doubling its output to 100,000 barrels a day. There is no doubt most of the companies would follow the Eroton option – put on hold expansion plans until the market stabilizes and they can drill profitably. This means some jobs will be redundant and servicing contracts cancelled – decisions that will ultimately reverberate across all sectors, including construction, financial services, hospitality and manufacturing.