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Alaric - DUH! your intellect/logic continues to suprise - when the pipeline to Port Harcourt is once more up and running I am sure the operators of OML18 (whoever that may eventualy be) would prefer to avoid the ELI pipeline/storage charges and pump to Port Harcourt direct - seems with the delays in commssioning of Eli and associated pipeline we have missed the export opportunity window - but wait OML18 hasn't been producing oil in quantity for sometime now and given the need to recommission existing OML18 infrastructure I don't see that happenong anytime soon.
Sorry to have to correct you again BS but we won't be selling to nigerian refineries and it won’t be for naira. Shell is our off-taker and they will be paying in us dollars. you surely wouldn’t want the readership of this board to be misled?
Funny. alaric bin tryin to downplay this truth of situashun fur past 5 year. look see. so shell did sold his boss a pup.
Https://leadership.ng/alarm-bells-ring-as-nigerias-refineries-collapse-by-92/
This time it ha to be different - the Nairi is going down the pan the country has to get behind oil theft in the delta!!!!
This from the bottom of Malcy's reportage on today's statement from SLE....I think it's quite clear what team he's on!
"The fact that there appears to have been a technical, maybe back office misunderstanding as to where the funds have been directed means that the shares remain suspended but the two companies are ‘working together’ to sort out the delay in clearance"
https://www.malcysblog.com/2023/11/oil-price-san-leon-europa-sdx-coro-and-finally/
First off, you confirmed MY post, at least with the early part of your only coherent sentence, '.....The TRAM cash will eventually arrive I am sure....' However, the rest of this post is precisely the same at the balance of your previous: meaningless blather
Thanks - Bluepill I take it then you essentialy confirm my last post then, however I have to disagree with your referencing bankers as morons - your quote - "possible some moron put a hold on the funds simply bc TRAM were sending such a large sum to a company (SLE) that does business in Nigeria." Organisations always cover their derrieres.
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Wow! How bizarre is this? Is money coming? Isn't money coming? It does make you wonder why it couldn't just have been a straightforward, transparent transaction. Very disconcerting.
You started so promisingly, BS....TRAM is a US hedge fund. They are sending US dollars. San Leon would have a money center bank account to receive those dollars. Any issue would reside with the major, international, household name banks involved in that transaction, period (eg., possible some moron put a hold on the funds simply bc TRAM were sending such a large sum to a company (SLE) that does business in Nigeria. Sad, but possible). Readers can therefore ignore the rest of swanny's post beyond the first sentence.
The TRAM cash will eventually arrive I am sure - money transfers are strictly monitored in this modern age vis source/destination and reason for the transfer (think money laundering) - wonder which San Leon controlled bank and under what jurisdiction will they are transfer it to and in what currency (the Nigerian Niara is depreciating by the day so best to delay transfers to Nigeria as long as possible) would the transfer be made to an account we have Ireland/UK/UAE/Nigeria or heaven forbid to our old bank in Mauritius - it's all rather unclear?
That's worped thinking i'm afraid gffy. comparing spanners to international bank transfers just doesn't do it as i think you know. and that's particularly true when the party making the transfer is US, because they have very stringent regs. so you see gffy not really the same thing at all.
That sounds sensible enough gffy, but is very likely not the way to look at it. If there is a block in the system, the bank or banks involved will assert that they are not required to provide ANY reasons or explanation, which is what can make these situations so intensely frustrating. Therefore, rather than junkie's mudslinging speculation where either SLE or TRAM or both 'know' but for some reason are withholding that information for instance (a very, very serious, possibly even criminal, infraction, by the way), it is much more likely that actually, neither party are, at this stage anyway, certain why this has happened in the first place, and the NOMAD (and/or the FCA) would therefore prohibit SLE from publishing an RNS with what they would doubtless consider guesswork without sufficient corroborative evidence at this stage, no matter how 'well-informed' that guesswork might be. I recognise that my scenario also has some weaknesses, but my confidence that I'm in the right general area is because one thing we can all be certain of right now: in a situation like this, regulators - both internal and external - will be absolutely crawling up Fanning's you-know-what and so there is even less room to mess around with the public messaging than there might otherwise be, which as I wrote already, is very low to begin with these days.
I find this extremely odd , If a £10 box of spanners ordered from Amazon can be easily tracked then surely 187 MILLION DOLLARS shouldn't be difficult to track !!!!
Here's a good summary of how bank transfer delays can occur.
https://statrys.com/blog/delayed-bank-transfer#:~:text=Delayed%20bank%20transfers%20can%20be,may%20also%20contribute%20to%20delays.
Looking on the positive side, the transfer could be stuck for genuine reasons.
What stretches credibility out the window is that, for a $89.4 m transfer, the parties don't know the reason after 3 weeks confirming the transfer.
Either Tri Ri, SLE or both are not coming clean
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Purhaps them seen the lite and seen threw our ovur optimistic ceo wurds. due dilligunce take a while dont it.
Ha ha samalaric you shood look bit closer to yer own home for misleading statemunts. ave a wurd with yer boss will you please, he bin at it again! he the king of them.
RNS Number : 1149S
San Leon Energy PLC
02 November 2023
"funds are in the process of being transferred from TRAM's bank in North America and San Leon has since received confirmation that payment has been made."
no wundur you is always rong samalaric for 10 year now cause you base yer statmunts on what yer boss said. idiot.
Maybe not as bad as it reads: from the other board: '.....I reckon the money likely IS coming one way or the other, otherwise the NOMAD would have compelled the Company to say so. I admit that it's been nearly 2 months since the original deal with TRAM was announced, but that's kind of the point. Given the time they've had to investigate, if there weren't a credible reason for the delay or evidence that the funds were in fact sent in the first place, I reckon the NOMAD would never have allowed a statement like this morning's to go out in this massively overly cautious AIM reg environment. Therefore, the most likely scenario is that there IS evidence of the funds having been dispensed and, for some reason that cannot be disclosed yet, they are stuck in the settlement system (notice I wrote 'most likely'. I am certainly not discounting other, more negative explanations, and that also doesn't mean my partial explanation won't end in tears), and thus we will likely get a further update reasonably soon....'
I was wondering what had happened to the imminent funds due….
As previously announced on 2 November 2023, TRAM had confirmed to San Leon that funds were in the process of being transferred to San Leon in respect of the loan facility. TRAM also subsequently confirmed to San Leon that funds had been transferred in respect of the subscription. To date, neither payment has been received by the Company and San Leon continues to work with TRAM to understand the reasons for the delay and to enable funds to be released.
As per Junkie you fail to address the point in issue which was how you lied about San Leon's duty to publish an rns about the relevance or otherwise about court proceedings that ELI might be involved in. as you know the company has no such obligation. you also failed to address my suggestion that instead of lying to this board you should focus on the facts, even if as we all know that's anathema to you. that's all ;-)
Goodness, Alaric....you're right , there's only 1 SLE rep on ELI'S Board. Amazing that he didn't seem to notice that Eli's very existence is being challenged in the Maltese courts over the past year.
You might like to re-familiarise yourself with SLE's recent RNS.
"Importantly our partnership with TRAM enables us to fulfill our long-held strategy of becoming the majority shareholder in ELI."
Can I suggest that a second SLE rep may be required to keep the other one awake.
By the way have you figured out yet how SLE's 2021 Accounts show a Contingent Liability re Seven Heads when you contend that all such liability was extinguished in 2019? Have you informed SLE that in your opinion there must be a mistake in their audited Accounts LOL
Redeyemines - Ref your last post "Why hasn't it all been paid, how much was paid," - worst case is if Brightwaters contract allows them to cancel the contract say for example due to Eil failure to pay progress payments on time or non-payments etc and they sue Eli in court for the total payments - best case is Brightwaters are seeking to review contract prices (upwards) say for consequential damages caused by the delayed payments etc before they are prepared to continue and all this is currently under consideration by the joint parties with Brightwaters maintaining pressure on Eli with following through with their court actions should negotiations fail.
Wrong again Junkie. until the ELI deal closes we own just 15% of ELI and have a single rep on their board. as such there is no obligation on us to report anything about the company good bad or indifferent. rather than invent lies about us, i suggest you focus (for the sake of variety) on some facts eg the recent news about TRAM's funding package, which on its face is fantastic for us. i guess the problem for you is it's a fact and you're patently allergic to them :-)
Redeyemines, this tw8t junkyard is a past loser a liar and right Muppet who proved to everyone who reads this that he lost his shirt hence his constant vendetta against sle and management, in fact to prove how stupid the idiot is whatever he posts against sle, sle down the line takes him to the cleaners by issuing news that burns his propaganda accusations.......the guy is a dumb poster fact ....