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https://www.lse.co.uk/rns/SLE/temporary-suspension-of-trading-on-aim-trbig50oece5u1x.html
https://www.lse.co.uk/rns/SLE/suspension-san-leon-energy-plc-brvy2dfxopcduvu.html
https://www.lse.co.uk/rns/SLE/suspension-san-leon-energy-plc-c9judi7n7pce1jv.html
https://www.lse.co.uk/rns/SLE/suspension-san-leon-energy-plc-c9judi7n7pce1jv.html
https://www.lse.co.uk/rns/SLE/production-deal-and-temporary-suspension-of-shares-0aniyfz81k71bj4.html
https://www.lse.co.uk/rns/SLE/temporary-suspension-yp84jasvpcwu8wy.html
have look see, there lots of it. this one cause suspended near a year
https://www.irishtimes.com/business/energy-and-resources/two-chinese-suitors-walk-away-from-san-leon-energy-1.3346302
The London-listed company said it remained in talks with Africa’s Midwestern Oil and Gas, its partner since 2016 in a vehicle that holds an indirect stake in a Nigerian onshore oilfield, on a deal that would involve Midwestern reversing its interest in the asset into San Leon.
Obrit
Nominally 6 months so could be a Christmas bonus on the way!
However the company can, in exceptional circumstances, apply for an extension of the suspension if the terms of the reverse takeover are not complete. Messy.
obrit - Good question wish I knew - I did read somewhere that the AIM only allows shares to be suspended for a certain amount of time and then ??? = the red nose crowd might know?
Does anyone have any idea of when this share will be un-suspended? These constant extensions don't bode well and in the meantime the price of oil, presumably a driver for the share price, soars and investors have no chance to benefit and neither does the market capitalisation.
you say you've been a shareholder since 2011, Alwasel, and you're relying on BS for your research on the investment case here! really? :-)
BlackSwan, Thank you for that information.
Alwasel - Decklar/SLE/OZA Share purchase - roll on March 2022 then: Extract
"The Company also announces that the deadline to achieve the production milestone referenced in the Share Purchase Agreement (“SPA”) with the vendors of Decklar Petroleum Limited has been extended to March 31, 2022. The SPA provides that in the event the Oza field achieves production net to Millenium Oil and Gas Company Limited of 1,000 bbls/d for a period of 10 consecutive days in any 30 day period within 12 months of the closing date of the SPA, Decklar Resources, Inc. will issue 8,000,000 common shares to be allocated as set forth in the SPA."
We get 10% ish of Eroton's production since 2016. They haven't been paid SLE a penny for it in 5 years.. There s never been a mention whether by OF, Eroton or any other sources of the total amount of the back payment due to date nor when it will be paid. Why? Tens of millions at stake here which would amount to a pretty hefty one off dividend. This information wouldn't come amiss.
quelfromarg1, thank your for your response, now we wait to see if OF is worth his salt. Good luck to you.
sorry for your loss, Alwasel, but sympathy? in the roulette world of AIM oil investing - not really. you seem to forget that it's only through OF's smart moves in Nigeria with Jite and Martin Hughes, as the Polish shale market was collapsing, that you still have an investment here at all (in that sense, without the Nigerian deal which Oisin cleverly crafted almost from thin air, 'San Leon 1' would surely have gone. now we have 'San Leon 2'). and btw none of this has anything to do with bluerill's timeous reminder that the Oza play is a done deal, the conditionality of which all remains at San Leon’s call.
Alwasel, fully empathise. And the one Divi paid out so far, while a good thing broadly speaking, goes nowhere near compensating for these levels of loss. Aside from that I didn't invest in SLE for divis even 10%* rather sp growth. We may get this in the next year or two, let's see.
QF
* Yes multiple 10% divis might do too ... but that seems unlikely now.
Bluerill I hope you are right but speaking as a share holder since 2011 when I was holding 114,371 shares at a cost of 13K + and hearing OF talk about "share holder value" and "dividends" but through "creative accountancy" or what ever you want to call it, my holders dwindled to just 1143. OF needs to start making good on his promises to get shareholder confidence. Knowing the AIM for what it is, I'm not a disgruntled shareholder and live in hope. All the best to all that have invested here.
As per usual, you don't get it. You can post all the Decklar updates you like, and they can 'forge' ahead all they like. The deal is done and so when SLE is ready to exercise their option, Decklar will take their money, SLE will get its stake, whether Decklar need or want the dough or not. Capiche?
Decklar recently moved onto the New York OTC exchange seems they are "forging" ahead raising their own capital - will they need SLE cash at all - complete announcement for this and Emohua Field development is on the Decklar site?
https://www.decklarresources.com/news/
Decklar Resources Inc. Announces a Letter of Intent to Participate in the Emohua Field in OML 22 in Nigeria this is the third field in Nigeria Decklar has pursued.
Their distribution structure is pathetic. Nearly lost 6k GBP last year in Irish tax withholding. Completely useless. Sold off at huge loss after waiting for 5 years!!
Bs, I wouldn't take what this assjunkie knows, he is a loser a big time Charlie, just one big dump!!, here he owns no sle stock yet complains
But on something he does own....just loss
A loser proven.
Callasjunkie
Posted in: VEC
Posts: 537
Price: 118.80
No Opinion
Overpaid wallies10 May 2021 14:33
I just sold my holding at a loss.
Didnt wish to but am forced into it by incompetence of current management.
The Special Dividend is taxable as income to shareholders in the UK and I assume Ireland (Revenue in both countries usually treat these matters identically) where I am resident.
I will lose 40% of the dividend in income tax. So I gain 60% in income but lose an equivalent 100% through the share consolidation, as my shareholding will be reduced by the amount of the gross dividend.
So an action that is intended to preserve the share price causes me to have to sell my shares.
The tax advice for UK residents means that all higher rate tax payers are going to needlessly LOSE money.
I can only conclude that this company couldn't give a fiddler's for the private shareholder.
The CFO is paid an obscene £807k a year....and he comes up with this!!!
The consolidation is purely to preserve the market price of the share...just optics
Good luck. I'm out.
Ahhh didums!.
Its hard to say but one sure thing is the rising oil prices will definitely be beneficial to the deal that is trying to be agreed on
I know very little about share dealing and certainly even less about the relative effect oil /gas prices have on share prices. So could any of you ' experts ' suggest the likely share price of SLE when we start trading again ?
thanks in advance .
G.
Callas - Exactly at least you've gotten the message - Linda Beal jumps - Ref SLE my previous posting vis "a bridge too far"well for her I guess it was. Nigerians, being locals, don't want to be parted with money or their company shares and I am afraid no legal contortions will prevail - locals always dig their heels in and that's it! Shell vice presidents appointed to Nigeria have been known to spend their entire 5-year posting trying to get paid for the companies oil output by the NNPC.
indeed redeye and if our theory about taking out Sahara's interest in OML18 were correct, an 'intentional' low production for the moment would not be silly.
Morning Al,----- just don't think it is sinking in to some people.
-
-Don't quite know what that 6,600BOD is all about, but it feels like production may have been held back a bit until our pipe line and FSO become fully operational---(why waste it on a leaking pipeline)--we will see .
-Once everything is running SLE will be a fantastic cash cow .
excellent post, redeye, and judging by the number of tick-ups you got, it rightly resonated with shareholders. with multiple and significant revenue streams now in immediate prospect (OML18, Oza, the new pipeline) and an oil price inexorably heading north, San Leon stands on the threshold of a truly exciting era.
Great news from decklar and exellent business from sle management.
Two more cracking results from Decklar------the co seem very pleased.