George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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couple things about BS over (a long period of) time:1. he's not dumb; he posts some relevant - if often finer detail points designed more to make him look clever than for their relevance, while he then ignores the bigger picture - info on this company; 2. he then invariably more than counters that by posting spectacularly trolly messages like the recent one that finds common cause with the most transparent, appallingly bogus avatar ever created; and 3. I have corrected dozens of his errors and inappropriate, needlessly obtuse comments over the years and he never responds. his call.....
trailing stopping losses set at 41 pennies.
jump on the red lion traders delight train. i join big voices acros bulitin bords doing same.
Sam - SLE up 12.5% seems you saved the day - Nigeria SLE/Midwestern - games within games - will Tosca fold let's see either way good news for existing shareholders.
on all things blackswan: ???????????
Good luck to you Afame - more honest than some troll commentators I might mention - paying attention bp!
hey boys you be pleezed to now i a shareholder again.
traders delight this shared is, lovley rumours to help make the big monnies.
intriguing Sam. i remember rumours circulating about some kind of rto 3 years ago. and of course it would make complete sense for all concerned for a pile of reasons. if true this could be absolutely mega
Sam - Good find thanks MMM!
WOW indeed--------------if it's true.
When it's all up and running, this could earn SLE about $27 mill a year.----A great deal.
They got the % wrong but wow!
www.thisdaylive.com/index.php/2021/06/24/midwestern-oil-makes-reverse-take-over-offer-to-san-leon-energy/
24 June 2021
San Leon Energy plc
("San Leon" or the "Company")
San Leon conditionally acquires further interest and option in New Nigerian Oil Export System
San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, announces a conditional investment of US$2 million as well as an option to conditionally invest a further US$6.5 million in the equity of Energy Link Infrastructure (Malta) Limited ("ELI"), the company which owns the Alternative Crude Oil Evacuation System ("ACOES") project. The equity being conditionally purchased and the equity that may be purchased via the option are existing equity interests in ELI owned by Walstrand (Malta) Limited, ELI's largest shareholder.
As previously announced, the ACOES is being constructed to provide a dedicated oil export route from OML 18, comprising a new pipeline from OML 18 and a floating storage and offloading vessel ("FSO"). Once commissioned, which is expected to be during the second half of 2021, the system is expected by Eroton to reduce the downtime and allocated pipeline losses currently associated with the Nembe Creek Trunk Line ("NCTL"), to below 10%.
The conditional investment will comprise of the Company investing US$2 million for 1.323% of ELI, with San Leon simultaneously receiving an option (the "Option") to conditionally purchase a further 4.302% of ELI for US$6.5 million (together the "Further Investment"). The total consideration payable should the Option be exercised in full will therefore be US$8.5 million and will be payable by the Company in cash. Any investment pursuant to the Further Investment will be conditional on obtaining the consent of Guaranty Trust Bank PLC ("GTBank") who currently hold a pledge over the shares held by Walstrand (Malta) Limited in ELI. The exercise of the Option will be at the sole discretion of the Company, although such exercise will be subject to the consent of GTBank.
As previously announced, the Company currently holds a 10% equity interest in ELI. Following the completion of the Further Investment, San Leon will own a maximum of 15.625% of ELI, assuming that the Option is exercised in full. San Leon has also previously made shareholder loans to ELI totaling US$15.0 million which bear a coupon of 14% per annum.
Under the terms of ELI's senior debt facility with GTBank, the lender has a charge over all of ELI's assets and, as further security, each shareholder in ELI (including San Leon in relation to its current shareholding in ELI) has pledged their shares in ELI to the lender. The terms of the pledge are that the shares in ELI cannot be transferred or otherwise utilised without the lender's consent. All shares in ELI that will be acquired pursuant to the Further Investment will be returned to this pledge.
Information about ELI and the ACOES
ELI is incorporated in Malta but operates in Nigeria through its subsidiary, Energy Li
Walstrand Malta
https://www.datocapital.mt/companies/Walstrand-%28Malta%29-Ltd.html
GTBank
https://www.bing.com/search?q=gtbank&form=ANNNB1&refig=7839e3ef25274dea8c260edc8bb9f40f
Through put up to 100/- barrels a day--------15% of that is good news.
Fantastic news for sle how many other companies lining up to use this new facility?, too many I would say what with current problems with nctl.
so it looks like the delay has allowed sle to increase its stake in a 200m+ asset cheaply. what's 'oh really?' about that??
RNS Today - "Oisin Fanning, Chief Executive, commented: We are delighted to have conditionally agreed to increase our investment in ELI which owns the ACOES project"
Oh! Really?
Why? You have some spare cash that needs a home?
Anyone see any fundraising, placings on the horizon ?
Ie lying
Seems to me those that post self justifications on their trades up or down are those who lost in sle when it was just an exploration company in poland and have a problem with this said company, as on aim there are many that are good trading circumstances that arise.
Or they are sprucing!
in freefall again. traders dream.
ouch - those toes ARE sore this morning. indeed will the infamous '9p predicshun' go down in the annals of blogging board forecasting as the worst ever?
posts be remuved because of brakeing the rules. thats all.
you still so sore about post from 18 month ago all you can do so much later now is throw insults. you cant find other ammo over past years cause all my predicshuns have been close spot on. just go look see.
admin remove posts because the board is for adult comment not children in playground.
indeed qf, quite a few of my posts in similar vein gone over time!