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https://www.decklarresources.com/news/oza-1-well-re-entry-and-testing-update-20210930
Interesting set of results.
Afu&ass
Usual 2 posters both claim to not hold sle stock, do not post any where else, and both have it in for San Leon energy.
Fso up and running, sle profitable and only the 2 usual dumps have a problem with sle.
Interesting set of results.
OML18 Oil production:
113,000 b/d. - 2016 Competent Persons Report forecast for 2021, excl gas
32,000 b/d - 2019 full year
25,200 b/d - 1H 2020
21,100 b/d - 2020 full year
5,500 b/d - 1H 2021
Yet despite this, San Lean earns a 1H 2021 profit of $8.1m, coming entirely from Loan Note income, of which only $0.75m was actually paid, the balance rolled up the valuation of Financial Assets...and of course no Loan Note capital paid.
Despite the 60% shareholder in MLPL being able to meet their debts as they fall due and the dramatic fall in Eroton's production, the carrying value of San Leon's investment in MLPL is written up by $7.7m!!!
If I were GTBank, I would be extremely worried.
However I reckon Linda Beale is feeling mighty relieved.
So $7.7 mi.. from 40% of MLPL over 6 months--even with production at rock bottom (6,600 BOD)
-
-If this RTO goes through then we would earn $38.5 mill from 100% of MLPL a year, even if the production stuck at this 6,600 BOD.
-
-So once the pipe line and FSO come into operation, and we release production back to proper levels---(and the higher average oil price )---------what do we then earn ??-.
-
-sounds good to me.
You can always tell a past loser in sle as they hold no shares because of their loss and continually try to beat the Co up due to their loss making trading in the company. In part they are nothing but dump!!.
San Leon generated a profit after tax from continuing operations of US$8.1 million for the six months to 30 June 2021, compared with a loss after tax of US$20.3 million in the six months to 30 June 2020. The majority of this profit is attributable to the profit on equity investments for the six months to 30 June 2021 of US$7.7 million (30 June 2020: loss of US$14.1 million). This profit primarily relates to San Leon's equity investment in MLPL. MLPL has a 100% equity investment in Martwestern Energy, which in turn has a 98% economic interest in Eroton, which holds a 27% working interest in OML 18, Nigeria and is its operator.
Revenue for the six months to 30 June 2021 was US$nil, compared with US$nil for the six months to 30 June 2020.
Barging oil has begun to eli akaso, great news.
we'll be paying more for our petrol but it's a pleasing thought that with every $10 increase in PoO going straight to the bottom line, San Leon is going to be funding my travel for the foreseeable plus some deluxe stopovers...
$8to$10pb I think Alaric.
sam, please remind us what production cost per barrel is estimated for OML18?
Sorry High oil.
Oil selling for over $80pb in Nigeria at present.
https://oilprice.com/Energy/Oil-Prices/Goldman-Sachs-Hikes-Oil-Price-Forecast-To-90.html
just because we have a relative news void presently, BS, please don’t feel the need to fill it with your inane gibberish. otherwise you may end up sounding even more like your pen pal, Afamefuna. now there's something to ponder on...
redeyemines - Yes your comment makes my point.
The 30 th of Sept is just the date for the AGM and has nothing to do with the proposed RTO.
... Nothing new can be introduced at any AGM, and it is just an historic look back on the past year, along with any new proposals that have been tabled to be voted on.
.. The end of the degotiations regarding this RTO are in no way governed by the date of the AGM, and they will finish when they are finished.
D Day end of Sept - What with "Waiver extended to end of Sept" and the "Annual General Meeting (the "AGM") will be held on 30 September 2021 at 11.00 a.m. at the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland".
The annual general meeting will probably be conveniently postponed due to C19 socialising restrictions imposed by the Herbert Park hotel if that doesn't happen however we can be sure the number of attendees, fortunately for OF, will be limited by C19 travel restrictions.
t2retire - have you ever bought a dead parrot? suggest you watch the famous 'Norwegian Blue' sketch again featuring John Cleese and Michael Palin. It's a lot more fun (and informative) than reading the nonsense that gets posted on this board.
mr blackswan it lucky mr timetoretire ask for update yesturday but noone can take parot back.
mr oisin fanning has closed the shop.
https://www.youtube.com/watch?v=z9SMUzj-_4Q
RNS today - how considerate of OF - and so we go on MMM!
It is two weeks from the conditional payment waiver….
Surely we are due an update. The longer this goes on, the more is the worry we are being sold a dead parrot.
BS
Your still invested because the shares are suspended lol
We would have all sold by now if possible, just to see where the land lies
SLE has become a very hot potato in a very hit oven called Nigeria
NYS agreed long term upside that is why I am still invested,
But there is the possible long term upside is their not. Do you not think the risk is in the current share price?