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Jeez, 61000 jobs lost - surely the government will look for someone to reactivate the AL smelter - all it needed was working capital - hopefully IF we did actually supply gas during the short operational life they paid for it?
mr muckspreader you are not clever enough to realize what idiot fool you look saying the Guardian prints false news.of course it dosent but shows you up for how desperate you are.
you try and win your money back from the red lion. good luck to you.
good news soon sp jump then we see posotive poster trolls shorting like little leprechauns again
Must be getting close to some SLE good news RNS as afake’s in overdrive with keyboard heroics.
“The short-in natural gas cost Eroton Exploration and Production Limited, operator of OML 18 and the Nigerian Gas Company (NGC), as well as the nation’s economy a revenue of N50.3b,” the statement reads.He said the closure of the plant cost the two organisations another N58.81b translating to a loss of N109.21b revenue to the parties and the economy.
The Institute of Chartered Economists Of Nigeria (ICEN), Port Harcourt, has warned that closure of Alminium Smelter Company of Nigeria (ALSCON), would cost Nigeria, a loss of 61,200 jobs.
https://guardian.ng/news/how-nigeria-others-lost-n109-21b-to-alscons-gas-shut-in-by-expert/
and the share by bak scheem would point to the red lion going into only hands of mr fannins and tosca because they are limiting the public shares out there but the share price never goes up because of the scheeme.
we were told that our shares would get better price if there were not so many shares availabe but it has not happened. the red lion lives up to its nik name.
mr swan many think like what you say at the end of your post from 13.52.
mucklean there is always hope around the bend for the red lion. us red lion shareholders are all very very used to living on hope over many many years. but hope did not pay the bills ever.
this like the swan says could be the last chance for the red lion because if it dos not happen soon private investors will leave.
but perhaps that is what tosca and mr fannins want and then the red lion will be born again as a private company after being built up with many years of private investors money. then when they own it all it will becoming into great proffit but not before.
Alric - Ref your comments - "Giving it one last throw of the dice" your phrase echoes my thinking over the last few weeks given the prospects for SLE going forward this indeed could be the last chance to buy the shares at this current price level of 28p, so with those thoughts in mind, even though I last rounded my holdings down with Tosca at the 55p price level - can you imagine - I have nevertheless this morning I decided to "throw the dice one more time" and decided to increased my holdings in the company BUT this is definitely the last time.
P.S Hope you have also taken advantage of these price levels, how many have you recently bought Alaric at these "Bargain" price levels or do you and your father Alblue just do positive trolling on this site on behalf of others.
mr or mrs alaric, how many times have you said that about your trolls over the years. you funny boy make us all laff with you constant this time its the real deal.
Not sure that all investors here realise that good investments generally go up in price - 46 to 28 does not really follow that trajectory. Now the seemingly useless SBB (from the point of view of private investors) is ending, I await the next tranche of financial chicanery from OF and his buddies. I suggest they finally get this farce over with so that we can get paid, forget this company and move on.
certainly we're due an operational update during january, mclean. as you suggest much to cover with well development activity, arrival of FSO next week and the new pipeline. this is going to be a tough time for our house trolls, as they finally have to face the music. so i imagine they'll be giving it one last desperate throw of the dice. all old hat i'm afraid, so nothing to worry about. enjoy.
BTW - If my (rough) calculation is correct the current buyback ends on Monday.
dividunds prommis for years but never happen but mr fannins 46p short term special offer and share by back scheem happen instead to benefit of traders stockbrokers hege fund and shorters. not any good for private invester ever.
give us dividunds pleese.not just empty prommis one day it might happen. the red lion always looks like it prommis but never deliver to private investers.
thanks icecream and eyes for your tracking of the FSO. we can only imagine that the new pipeline is now progressing, given the company's q2 target for seeing the new oil evacuation system commissioned and i wonder they are not now ahead of that. we shall see soon enough now and, whatever else, this remains the single biggest individual value enhancer for all the jv partners in OML18. the recent sbb was not nor ever intended as such. with the stemming of pipeline losses will come of course hugely improved oilfield revenues, further dividends and an enhanced drilling programme, leading in turn to increased revenues. this is not the time to worry about short-term price volatility, if any, but to build position into a serious growth story.
imagine share price would be 20p if not been propped up by share by back. probably fall big time when scheem is finished. good for traders stockbrokers hege fund and shorters. bad for normal investors. paying dividend to normal investors would not work so well at making big money for traders stockbrokers hege fund and shorters.
same as mr fannins last 46p special offer made lots for traders stockbrokers hege fund and shorters
99 - - Conventional thinking - olderandwiser - seems nearer the point - who is selling more to the point!
Myshiptracking is forecasting the 21st January based upon current progress.
It means that SLE think the share price does not reflect the true value. Buying shares at low prices (46p and more recently approx 28p) will increase the value of the remaining shares. The first half of 2020 should be very interesting as the value of SLE beyond the cash pile is revealed.
Day after day, why?
Is sle facilitating a willing but large holder to get out without disturbing the market? Otherwise, why not simply pay out a cash dividend with the funds spent?
Using FleetMon (vessel tracking app) Eli Akaso has registered an ETA in Bonny Nigeria of 23rd January, so not long now! Another piece of welcoming news to expect in addition to dividend payments.
Icecream I'm sure your fleet tracking software is showing the same re timing of Eli Akaso's arrival in Bonny?
The Nigerian government's policy of increasing the production of in-country fertiliser has finally gotten around to focusing on Niger delta operator Notore. New investment from the African Export-Import Bank is being made to return the plant once more into a viable operation after years of poor maintenance and general mismanagement - let's hope this time around they pay Eroton for the gas we supply.
"It announced the commencement of the TAM of its plant, which it said was aimed at returning the plant to its 1,500MTPD and 500,000MTPA nameplate urea production capacity. It said it would also increase the reliability index of the plant from the current level of 67 per cent to 95 per cent."
Link courtesy of Links on II
https://www.energymixreport.com/notore-secures-n13-2bn-loan-for-maintenance-purposes/
btw just for the sake of intellectual honesty concerning this share's performance over 2019, alien concept to some here perhaps, one should properly include the tender. for those retail holders participating, that correctly puts them at up around 38% on the year. and that ignores the 10% less dilution factor from this exercise. all in all, pretty powerful for us.
Alaric - Yours at 1104 HRS - a good post - I couldn't have written a better one if I had already written it myself?
fab news and well tracked, icecream - 99s all round i think! what a year we have in prospect now: over $50m in the bank, no debt, dividend to be announced shortly and, with the FSO soon to be in place, the final piece of this jigsaw goes in - elimination of pipeline losses from q2 on. this sees an immediate uplift in OML18 revenues of over 30% and will be the catalyst for accelerating further drilling and revenue growth for the jv. by the time our fully secured loan notes are paid off this year, we will effectively have acquired this 10% interest in a world class oilfield (producing 'bonny light') for nothing. at that moment the 'new' san leon will have fully emerged from it chrysalis, its metamorphosis complete. today with a market cap of just over £125m, the share puts a zero value on our interest: the only relevant question now for value investors here is how long will that reality remain? the maths is compelling. the last fully worked out valuation was done by SP Angel (zac phillips) some considerable time ago: he got us to £1.20 - i suggest that is now looking pretty conservative.