The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen 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.
Welcome, Julian Tedder, he seems to have wide experience in the oil industry - it must have been difficult for him when he was with Tulow Oil - their share price really Tanked in 2020 - he must have some serious experience in handling "difficult" situations which might come in handy during our Nigerian negotiations.
https://www.tullowoil.com/investors/share-price-centre/share-price/
Sle increased Ownership in Eli and the reliable cash flows generated as OML18 and others use the pipeline could generate a substantial income for all SLE shareholders - let's hope delays in completion are transitory and must be due to current conditions applicable in the Niger Delta such as - C19 lockdowns, kidnapping etc - since Bill left OML18 it would seem development has been on hold and wells being placed on restricted output, supposedly due to pipeline losses, what is surprising though is that development on OZA seems to have been progressing apace despite any of these difficulties - hopefully, the new cash input to Erton will go some way to getting the pipeline completed and producing earnings for all shareholders.
"The heads of terms for the Potential Transaction (the signing of which was announced on 12 July 2021) are being updated to reflect a proposed restructuring of Midwestern's indirect holding in ELI (which is currently held through a joint venture) to facilitate the proposed transfer of this holding to San Leon as part of the Potential Transaction. There is expected to be no economic impact on the Potential Transaction from San Leon's perspective in respect of Midwestern's restructuring of its holding in ELI.
"Eroton's new loan term sheet and its consequential proposed acquisition of an additional interest in OML 18 demonstrates the widespread and ongoing support for OML 18 as a world class oil and gas asset."
so bluerill was calling it right when he said
'the massive refinancing package at Eroton ...is going to anchor this RTO and the creation of AIM's largest independent oil and gas company'
so we now just need an update on the ACOES to complete this most virtuous of circles. the facts that Eroton has done this huge refinancing on the back of OML18 and that the proposed deal sees a 'new' San Leon take a much bigger interest in it, announces loud though that all's well with the new pipeline etc
https://ir.q4europe.com/solutions/sanleon2019tf/4018/newsArticle.aspx?storyid=15261854
As part of the Potential Transaction, San Leon would increase its indirect economic interest in Eroton from 39.2% to 98% and, following completion of the Proposed Eroton Transaction, San Leon's indirect economic interest in OML 18 would increase from the current 10.58% to 44.1%. Given that the Proposed Eroton Transaction is to be financed through a debt facility, it is not expected that the consideration payable under the Potential Transaction (being an issue of new shares in the Company to Midwestern), will be impacted. As previously announced, it is expected that, inter alia, as part of the Potential Transaction, the amounts currently owed to San Leon by MLPL (pursuant to the loan notes) will be eliminated.
Sahara being taken out, sle interest from 10% to 44% wow fantastic rns potentially.
NINETEEN days after the spill at the Santa Barbara Well 1 in Oil Mining Lease, OML 29 operated by Aiteo Eastern Exploration and Production Company, AEEPCO, in the Nembe creek, Bayelsa State, the wellhead is still spewing crude into the environment, polluting farmhands and the creeks.
https://www.vanguardngr.com/2021/11/nembe-creek-oml-29-wellhead-still-spewing-crude-oil-19-days-after/
Nigerea dont have much say in price. look see.
Wholesale gas prices dropped sharply in both the UK and Europe as Russian president Vladimir Putin ordered more gas to be pumped into Europe. Prices in Europe dropped by 12% following the Russian president’s directive
https://www.proactiveinvestors.co.uk/companies/news/964611/gas-prices-drop-as-putin-order-more-supplies-for-europe-964611.html
team samaric thank you for anser nice to see you workin as one together on this.
Totally agree Alaric.
what will this mean for San Leon? to remind what bluerill, this board's outstanding poster over time, just said:
'no faking the massive refinancing package at Eroton though... which is going to anchor this RTO and the creation of AIM's largest independent oil and gas company. And they said it couldn't be done...'
The newspaper report reference financing - named partner error - Shell Western Supply and Trading - surely a typo error - should be - Shell Trading and Supply?
https://www.shell.com/business-customers/trading-and-supply.html
yes thank you bs i first to bring this to attenshun of board on last thursday. team samaric give no thank to me lol. you right i have feeld day if the red lion open up again. news will big up price ready for short big time. with this dealings 750 million midwest and eruton not need the bank of red lion no more.
blueril do they need revurse take on the red lion anymore or is that dead in water. i dont now so this genuin qweshtun to speshul team. did your frend lisa finance offisur now about it goin on you think you ask her plese. been negoshiatid for 2 year now so why she resign with this just round corner.
seem good news but lot of implucashuns and nok on the red lion. great news for day tradurs. woldnt want be long wouldnt want be short. non holder posishun best in uncurtain time like this.
The refinancing news for Eroton has obviously been holding up SLE negotiations with Eroton/Midwestern vis a vie loan repayments and RTO - whatever - there is now new money in the game - so, at a minimum, SLE should get paid their outstanding loan repayments and in the event that SLE holdings only remain at their current levels in the OML18 they should be of increasing value that would be reflected in the SLE share valuation - Afame should have a field day on this one as for myself I have always been on the table = 0nwards and upwards...
https://www.vanguardngr.com/2021/11/eroton-signs-750m-deal-with-afreximbank/
The games afoot sherlock -
https://www.thisdaylive.com/index.php/2021/11/18/eroton-seals-750m-financing-deal-with-afreximbank/#:~:text=Eroton%20Seals%20%24750m%20Financing%20Deal%20with%20Afreximbank%20November,million%20financing%20from%20the%20African%20Export%E2%80%93Import%20Bank%20%28Afreximbank%29.
Victor Okolo, the Managing Director/CEO of Eroton Exploration and Production Company Limited, one of Nigeria’s indigenous oil companies, is dead, multiple sources, who spoke to THEWILL said Friday.
https://thewillnigeria.com/news/eroton-md-slumps-dies/
no faking the massive refinancing package at Eroton though, alaric, which is going to anchor this RTO and the creation of AIM's largest independent oil and gas company. And they said it couldn't be done......
oh la la team samaric c'est incroyable
https://www.bbc.com/pidgin
as you can see it's really quite different to the fake garbage readers of this board have been bombarded with. pretty strange thing to do? certainly and, if you fake that bit, seems reasonable for readers here to ask what else is fake about you? like everything
You are Afailure no one cries if the are a fantastic trader but you cry a river of to prove Afailure.
woodnt want be short woodnt want be long so glad i not sharehuldr. plenty time juge market if the red lion ever opens up to trade again.
afailure or a fantastic trader. lol jokes on you samrick you wait see.
Car - Jeez thanks, 2022? - meanwhile OF gets paid his salary - often wonder if Tosca and OF don't play Afume's trading game which in view of the companies recent historical valuations was the way to "invest" in this company - with the monetary values that Tosca and OF have in this game one would assume they must be covering their fund's investment in SLE "somehow"- looking back if I had been such a sophisiticated investor as by definition they are, which I am not, instead, I hesistatingly left my money on the table as the company departed Poland for Nigeria on the justification that at least after the West Africa offshore and Morrocan Tar sands adventures one knew that at least the oil was definitely under the ground in the Niger Delta - now if only we could get it to the export terminal and get paid for it by the NNPC then as only one of the sum of the parts that SLE are currently involved with it could must surely lead to a share price valuation many time higher than the current valuation - have said all that though 2022 is beginning to stretch even my credulity!
Afailure that's who Alaric, the guy must have lost a packet to continually beat sle up...ha haa and a Co he claims to have made a few bob on, what Afailure he is.
Other parties in the deal are Shell Western Supply and Trading and Midwestern Oil & Gas Company Limited. The $750 million facility, according to the agreement, is to finance the acquisition of 100 per cent of the shares in two Special Purpose Vehicles; Oil Mining Lease Under a Senior Secured-Reserve-Based lending facility and also to finance the prepayment of all Eroton’s outstanding exposures with its existing lender.
worth reading again as that is SHELL involved in this deal. who was that poster who said Jite was going bust?
Low teens to 40p and a 6p dividend defo kicks the af with his loss down the lane ....again!.