The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
Why do you post hysterical mumbo jumbo then bs? Trying to scare off potential PIs having a sniff about SLE?
The share price ground a bit higher today because I've managed to create a couple of buyers of late. That's it. Nothing more to see here......
bandit1 - surely we flatter ourselves if we think anything observed/posted or commented on through this board acts as a driving force in raising the SLE share price - second-hand information, biased opinions, and trolls are here at best - RNS is the nearest we have to reality. Following the all be it limited news via RNS however it does seem that OF is making some attempt to recompense shareholders for their patience in remaining invested with the company over these last years the results of which will albeit be rather will be meager compared to the losses some of us have experienced is better than what we have received in the past and hopefully bodes well for the immediate future.
It would irritate the hell out of me if what got this SP finally moving (and someone is having a poke at it today) was Bandit1's post...I mean we can talk fundamentals and cashflows til we're blue in the face, but what moves the market is troll-blocking! Sigh...back to my day job, methinks....
Actually sod it. I don't care what drives the price higher!
Pinot noir anyone? :-)
awesome post bandit1. hilarious but certainly strong correlation of late between improving fundamentals and newsflow and the level of desperate squirrel activity. agree definite buy signal.
Bandit---i was going to post something similar myself.
-
-A SBB is heading our way -----$10 mill worth of stock is needed, and the gloom merchants are coming out of the wood work.
-Doesn't take much working out, ----there's a big buyer there (been there since 23p)---just follow the money
Just follow the money
...you mean hysterical as in shreaking out meaningless utterances and desperate as in trying to drag very possible bit of fake negative news out of the ether when all fundamentals are looking so good? you really don't need me to answer that frus, now do you? btw. you got your head round all that share buyback stuff yet? i appreciate that's 3 questions on the trot which might be challenging, but don't take too long or events might overtake you
One of my buy signals has been triggered here again today which I have developed over the last 5 years or so on LSE. If I see more than 6 red filtered blocks on 1-page of postings that tells me that the trolls are working hard on behalf of someone to keep the price down so that they can buy in at the lowest price possible. That, in conjunction with the most attractive fundamentals we have seen on SLE for some years means that I will increase my holding further in coming days and weeks.
Post sounds hysterical Timbremner or Blackswan. Oh and a bit desperate.
Two good post's from you and I agree with you about PC at least you can exchange views with him without having your ollacks crushed and your character put in the shredder. Was going to tell him myself but you have done an excellent job
Crippling losses? If the losses were crippling then how would Eroton have the cash to complete payments to SLE? If the losses were crippling why would Eroton be receiving payment from NNPC, surely they would not have been able to export any product to receive payment if the losses were crippling? Yes there are losses but obviously not crippling, if they were crippling then Eroton would not have the cash to consider improved export, surely eh Black Swan? Being a bit shrill and hysterical yet masquerading as balanced commentary? LOL as B7's void would drool.
Let's just contemplate reality for a second and take a break from the hysterical black swan fantasy, if the losses were crippling then SLE would not be about to complete a share buy back using 50% of free cash generated from Nigeria activities (as promised by Oisin, jam tomorrow?), Eroton as operator would not be drilling and NNPC would not be paying Eroton for arrears, what is your agenda bs to be given to such hysterical language which in the harsh light of reality amounts to the alternate meaning of the abbreviation bs, good name eh. LOL.
Whilst certain of us post purporting to display their knowledge of the law and the intricacies of dealing in the Aim market we shouldn't forget the difficulty of operating in Nigeria exemplified by Eroton refusal to complete a reverse take over by SLE or the machinations of Suntrust to obstruct SLE in claiming ownership of OML18 or theft of the company product by locals - it is far from a given that although the resources are in the ground they can be profitably exploited by even Nigerian companies - I was impressed by the original SP Angel report which outlined the distribution of shares to the local company created by Eroton for the benefit of the indigenous population of the Eastern Niger Delta however it seems even that on the scale of what has happened and is continuing to happen in the Eastern Nigerian Delta poses a major problem to succeeding in Nigeria. I did recommend we send our top posters to Port Harcourt to provide us with a more balanced view for their posting content but to date, regrettable, they haven't departed - here's hoping?
https://www.theguardian.com/world/2019/jan/12/oil-tanker-explosion-kills-nigerians-collecting-leaking-fuel
https://www.theguardian.com/global-development/2018/dec/19/toxic-mud-swamps-fortunes-of-niger-delta-women-years-after-oil-spill
PCo1 - Agreed another balanced comment, in fact, an altogether refreshing post considering the insulting level of the comments floating around on this board - for myself, I believe the company can grow earnings despite the difficulties they have already faced in Nigeria but as you say If you believe the company has only one asset - an outstanding loan - then you most certainly should not be invested here - Nigeria is a difficult market to extract value from hence my welcoming of the NNPC payments to fund future investment which OML18 desperately needs whether it is clearing of existing wells - well refurbishment - constructing a new pipeline for exports to overcome the crippling losses of the existing Nembe creek line and so on.
i like that, frus, but think of us as the fatal squirrel strain. btw. following your miserable little story here to the extent that i do (ie. not a lot) i think i may have gleaned that you are holding your now much reduced holding in San Leon because you believe the company is going to do badly from here and you are going be diluted further? do you know i think i may have discovered a flaw in your investment strategy and why you've been losing so much money? (perversely though on this occasion your counter-intuitive approach is going to work in your favour and not that you deserve it. oh well small price to pay, i guess)
I didn’t answer your last point. Once SLE has bought back it’s stock - as per a post of mine what 2months ago - it has 3 options :
Cancel the shares
Keep the shares to remunerate employees - so avoiding diluting you the shareholder when it wants to reward its employees
Keep the shares and use them to fund purchases of other strategic assets.
We could argue about the merits of all 3 of the above - personally I’d prefer the company cancel the shares but that’s because I’m a greedy b&stard and it’s what would give the SP the best boost in the short term.
I think I will be Virus D...just a few things re your comment FRUS.
Firstly as suggested the current market capitalisation of SLE is v approximately what the company is owed on the outstanding loan +/- subject to FX etc.
So if SLE has no other expected source of income then we are at fair value - and as you say / spending $10mm of their money pot buying shares back actually achieves nothing if re point 1 SLE will never earn another $ except from its loan repayments.
However the optimistic amongst us think there is a chance that SLE sans debt might actually earn something from owning 5-10% of a world class asset - one that announced recently would start to pay dividends to their existing shareholders. SLE also owns economic interest of some 5% of BarryRoe, the potential of which has been helpful to other companies who own BarryRoe.
So - for the optimistic and only them - our excitement at a SBB is not because of the temporary boost to the SP that might happen but because if we are right about the future earnings potential of SLE, there will be 10% less shares in existence for those earnings to be spread about.
That is why share buybacks are value accretive - if you believe the company can grow earnings. If you believe the company has only one asset - it’s outstanding loan - then you most certainly should not be invested here.
I hope that is clear and not inflammatory.
to converse with 3 or 4 at the same time so I will just refer to you collectively as the virus that is infecting this board. So I am not a victim whereby the sp having fell from a high of 40p finally arrived at the princely some of 3/4 of 1p. Then having put the shares into suspension for C R and crossing 2 zero's off my holding the sp emerged at 80p. Where it then continued its descent to where it is today. So can the virus tell us why that's my fault and just how that previous Capital Reorganisation benefited the shareholders at that time.
Regarding the buy back....Should it ever happen, could the virus tell us what he intends to do in order to benifit from it. IE buy, sell or what? I see Alaric say's there will be a reduction in the companies share capital. Is that because SLE will burn them as they buy back.
I would like to assure the virus and its symptons that I have no vendetta against SLE or to deface other shareholders investment here. As to do so would be to deface my own investment. Just looking for the truth.
You say ‘all SH old and new are losing money’... if SH means shareholders as I believe it must...then I’m afraid to say this SH who is of the new variety is pleasantly in the money...and also has an option on a case of decent Pinot noir that is now 10% in the money (25p strike remember B7) which admittedly is only for bragging rights!
Sorry old chap. Still looking for 45p by Q1 end...after The Capital Reorganisation and the start of the share buy back. Oh and the confirmation of the receipt of the next $18mm...gosh if we r not careful SLE will soon be swimming in the stuff!
omg frus what are you blathering on about? to remind, this is what the company told us recently. it's really not rocket science.
On 25 September 2018, the Company announced its intention initially to return not less than $10 million to shareholders through a share buy-back programme (the "Programme"), once it had completed its capital reorganisation. Whilst the reorganisation was expected to complete during October/November 2018, it has been delayed whilst awaiting confirmation from SunTrust that it has no objection to the Company undertaking the required capital reorganisation nor will it in any way seek to impede the process. The Company is pleased to confirm that it has now received such written confirmation from SunTrust.
Following this confirmation of no objection from SunTrust, San Leon will apply to the High Court in Ireland to approve the reduction in the Company’s share capital so as to create distributable reserves and thereby permit the Company to make distributions to its shareholders, by way of the Programme. The Company is applying to the Irish High Court as soon as practicable and has been advised that this is a procedural process, having already completed all requisite requirements. Upon court approval, the Company must then advertise to provide an opportunity for any creditors to object to the capital reorganisation.
There is no 'coming capital reorganisation', you shameless mouth-breather. What there is, is 1. a simple court action to bypass the normal requirements for a company to return capital to shareholders, so that San Leon can take the extraordinarily positive step for a company its size and buy back up to near-10% of its issued share capital, and 2. you've been owned. Again.
Forgot to say Tim you didn't say what effect you thought the coming capital reorganisation would have on shareholders
yaaaaaaaaan.
We already had one.....Not much point in dividends or share buy backs when your 180,000 s h just got reduced to 1,800
Even my innocuous little comment has gone ...