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----ELI LTD
It's being assumed here that the winding up petition relates to a failure of San Leon to purchase the shares in Eli from Ocean Pearl.
There may be another explanation.
I'm assuming that Ocean Pearl is not only a shareholder but provided services to the ACOES. We know from SLE that Eli is broke, so the petition could well relate to unpaid bills. Furthermore is it coincidence that the famed 'mother ship' is called the MT Sea Pearl and received 5 barge loads for onward delivery to the Eli Okaso months ago. Naming coincidence? An internet trawl has failed to identify the Sea Pearl's registered owner.
I didn't imagine anything, I just raised a question
Seems like people are deliberately getting their knickers in twist, just to create a stink.
-For a start off, this is ELI ltd --a subsidiary---Not ELI.
-It has agreed to sell share to SLE --but---those shares are pledged to G.T.Bank as part of a deal that has nothing to do with SLE----unfortunately G.T.Bank will not release those shares, so SLE cannot buy them.---- On this basis the petition to wind up, will be rejected by the court.
-All in all its a storm in another tea cup, and has no effect on the completing of the pipe and FSO, which will complete once SLE finalises its finance package, and creditors are paid up to date.
Done just read and weep BS.
Hi bilgreen, this isn't the biggy you seem to imagine. it's the second time they have tried but the need approval of their bank Gtb to whom their shares are pledged and have not been able to get it. moreover i understand that san leon don't owe them a penny. meanwhile the trolls will have another meaningless moment with this only to have their hopes of Amargedon for the company dashed yet again. over a few years they have been prophesying the end of san leon and here they still are. quite remarkable don't you think?
Https://www.datocapital.mt/executives/Ocean-Pearl-Maritime-Sa.html
Case Information
Case Number
CR-2024-002000
Court/List
Companies
Petition - Winding Up Petition
Inferred Case Status
Active
Last case activity: 04 Apr 2024
Parties & Representatives
Timeline 1
Company
1. San Leon ELI Limited Litigant in Person
Petitioner
1. Ocean Pearl Maritime SA Addleshaw Goddard
Alaric/Sammy - Come on now, at last this is your chance to make a name for yourself - please explain this away!
A winding up petition was issued in London High Court today against San Leon ELI Limited by Ocean Pearl Maritime SA represented by Addleshaw Goddard. What does that mean?
https://caseboard.io/cases/d2aff39c-486a-451b-91a0-8d6fe953827e
Very old news indeed BS. and incorrect as Eroton weren't sacked. this was a neat solution to quite a long running between the parties to the JOA. how typical of this troll to attempt to continue a dissisumation, which had long run out of steam. readers may remember he had originally insinuated that losing the operatorship meant forfeiting their interest in this licence.
Ref the last post - note the original article was written one year ago - interestingly maybe is that I remember OF "boasting" that he was aware and/or had some involvement in the accounts of Eroton for our benefit of course - makes one wonder?
Interesting read while we wait?
https://leadership.ng/oml-18-nnpcl-sacks-eroton-appoints-eighteen-operating-ltd-as-operator/#:~:text=The%20Nigerian%20National%20Petroleum%20Company,EROTON%20Exploration%20and%20Production%20Limited
You are the Afool, looking at your history you haven't been here 10 years unless you're afake and someone who got banned. Sle past history on shale as it seems was good but it was the cost to drill etc and the time authorities took to give permission for such works that killed Poland off ..today sle have a nice% of oml18 for nothing as all monies lent have been paid back, they are owed loads yes but that is taken care of if the deals sle are managing don't come to fruition which I think they will, sle have bought their own shares back plus given a great dividend, they are now in a transition period which if it all works out will benefit all shareholders .....trolls like Afool Ajunkie are not shareholders but have a vendetta against sle and management......bs instead of complaining here ring sle ,speak to them see if they are not busy if you can see them in person. Xx
Maybe you would have reduced your holding if you could have?
I was an investor here for some time but got out after a while at a considerable loss
Alaric - More prattle from you, is that the best you can do, the Oza posting is irrelevant - something we are trying to sell - the recent RNS concerning the OZA field is a news gap filler as OF attempts to post "some " or any "news" - we want news, but relevant news concerning OML18/Eli Midwestern including company accounts "when do we want them, we want them NOW"!
My weekly reminder that none of the trolls holds any stock in San Leon Energy. whilst occasionally i can occasionally be over exuberant about my holding here i can assure readers that i wouldn't be holding unless i completely trusted the management and the investment case. if one doesn't hold any stock, the only plausible explanation for posting negatively is that you're employed by a long/short fund and part of your job description is to post negatively about stocks the fund is running a short on. ignoring the criminal illegality of such behaviour you should ask yourselves whether you trust professionally employed dissemblers more than a long term shareholder who has met the management on a number of occasions and has done deep research on the investment case.
Why aren't OML18 Pumping/Barging to ELI - Jeez beats me - no wait it's no money!!
"In March 2023, Nigeria incurred a substantial loss of 65.7 million barrels of crude oil, valued at $83 per barrel, translating to a staggering revenue loss of N2.3tn as a result of oil theft,” the senator stated. To tackle this, the NUPRC said the government had to promote the Alternative Crude Oil Evacuation Systems by transporting the commodity through trucks and barges instead of pumping them through pipelines".
https://punchng.com/pipeline-vandalism-fg-may-transport-crude-oil-via-trucks/?amp
“With over 246 producing fields, 2,777 producing strings, 188 production stations/platforms, four gas terminals, five land terminals, 11 FSOs (Floating Storage and Offloading Units), 18 FPSOs (Floating Production Storage and Offloading), and several other facilities at various stages of development,
https://punchng.com/oil-producing-fields-rise-to-246-says-fg/?amp
Funny. same april fool trick frum the red lion every year for 10 year. promis summat an dont delivur. an malcey. look at his record and show us a statmunt he made about the red lion that becam true. Lol.
Crude oil held in storage at the Oza Oil Field and crude oil being produced into storage tanks from the Oza-1 and Oza-4 wells is being transported by truck a short distance in-field to the transfer pumping station at the Oza Oil Field for injection into the TNP. The first crude oil export cargo of 15,000 bbls to Shell was loaded on board a vessel with a bill of lading date of February 7, 2024, with sales proceeds expected in the last week of March. Decklar and Millenium are expecting another crude oil export nomination notice from Shell before the end of March 2024 for the export of another 15,000 barrels of crude oil currently held in the Bonny Export Terminal tanks.
In addition, total deliveries to date in 2024 to the Edo refinery totalled over 15,000 bbls.”
Whilst they have plenty on their plate this is good news from SLE, Decklar in whom they have a stake and a loan to are increasing production into the TransNiger pipeline and getting respectable sales.
History would suggest an end of day RNS informing that negotiations around refinancing are progressing well and a new end of April date for conclusion….
Next week AFTER Month End I reckon
Last trading day of March. No word. There's that lingering smell...
Sle won't have to worry about the nembe as they intend to have a massive holding in Eli, and at $5 for each and every barrel injected this will very easily become a huge cash cow for sale, wonder how many companies are signed up now bs?..... Have you ever asked trolls like Afailure why if he has made so much from shorting sle is he so against where they work and has a disengenuous stance towards sle management?....come on bs are u that thick not to work this out!!!!