Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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bluerill, "You get slapped around in what should have been a learning opportunity for you"
What a strange person you are. Why do you attempt to 'troll' EVERYTHING I post. Then accuse me of 'trolling'. "Slapped about"? You wouldn't know a flame war if you fell over it. Do I have to start pointing out all your mistakes too? Go on, list all those restrictions on buybacks you got wrong again and give us all a laugh. Sad little boy.
Alaric, I just picked out the first post in which you were going on about long term value. But there are many, many others, including on SLE, where you got it completely wrong. In fact, come to think about it, I haven't seen one where you got a prediction right yet.
"Will never fall below @40p again" was one that springs immediately to mind from the last year alone.
So, If you're going to start insulting adults, don't expect them to respond like for like. I'll just keep highlighting to your claque just how wrong you have repeatedly been, most recently advising me to sell under @25p, by the way. What is your defence on that one?
19. Dec. 90,415 -27.65p £25,250 $1,418,506
20. Dec. 89,928 -27.80p £25,250 $1,?451,331?
23. Dec. 89,285 -28.00p £25,250 $1,483,904
24. Dec. 89,573 -27.91p £25,250 $1,?516,477 Approx 75% complete
27. Dec. 89,349 -27.98p £25,250 $1,549,302
30. Dec. 89,928 -27.80p £25,250 $1,582,380
31. Dec. 89,285 @28.00p £25,250 $1,615,710 Approx 80% complete
Total number of Ordinary Shares in issue with voting rights now ??451,123,801
*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.
The recent video posted on this BB showed a VLCC tanker with a name ELI Nigeria painted on her side, this is the ELI Akaso at anchor in Johor Straits, the tanker carries an IMO no of 9164847 displayed on her bridge superstructure.
(IMO numbers are unique to individual vessels that remain unchanged throughout a vessels lifetime.)
The EII Akaso has a deadweight of 310137 tons which would give the tanker a typical carrying (in our case storage) capacity of say 2 Moi bbls of oil - she was built by Samsung in South Korea in 1999 and has had several previous names and owners - J. Bennet Johnson, Phoenix Voyager, Armady Ulysses.
Specifications and photo of the ELI Akaso given in PDF reference below:
http://www.cargo-vessels-international.at/PHOENIX_VOYAGER_IMO9164847.pdf
MM!! - I wonder how long it would take Eroton/OML18 to fill ELI Akaso - nice revenue if we can get it, as stated in the original SP Angel report we might be able to bypass NNPC and sell the oil directly onto the market ourselves - roll on 2020.
Thanks for sharing McLean. The SBB has been underwhelming so far but much more positive times are indeed ahead of us. I have grown a few beards here but continue to believe that fundamental values of cash in hand and future riches will ensure that the share price pushes out of the current range. When it does these days of £25k ho hum will be long forgotten.
wow nice one, mclean! what a beauty and looks like she's had a very smart makeover as well. if she arrives in January, maybe we're still looking at a first quarter commissioning?
that is excellent news indeed, mclean. to remind, the Eli Akaso is the VLCC (very large crude carrier)
newly converted into the FSO (floating storage and offloading platform) which is, obviously, a major part of the new dedicated export facility for OML18. Once commissioned by the first 2 quarters of next year, this expected to effectively eliminate pipeline losses from the field. this in turn will result in oilfield revenues flowing to us, for the first time as such. people should now do the maths on that.
Eli Akaso - Departed Johore 21.12.19 at 0743 hrs.
Speed 11.60 KNots - Current Position 3.45 NM Southwest of Pengerang - heading for Bony Nigeria.
ETA Bony 0900 Hrs - 25.01.20
Happy Xmas to all and best wishes for the "NEW" year - lets hope this time it really is different - OF 10 out of 10 for trying.
You get slapped around in what should have been a learning opportunity for you, you then limp away threatening never to return, you come back after some weeks, and that's the best you could do??? Never mind that you seem to have gotten Alaric's position completely arse-backward, what does it say about your character that instead of trying to incorporate legit criticism and up your game (from boring-at-best-to-utterly-narcoleptic-at-worst), you instead use your time away to try and elevate yourself by engaging in some kind of 6th form-worthy bit of trolling? Sheesh, read a book instead.
OMG, eadwig what are you about ?! we all know you're a boring jerk but you're now displaying true TROLL behaviour, quoting me out of context from another board on another stock from 3 years ago. and threatening to do more of this? i mean go for your life mate but really? and at least have the decency to get it right. anyone who followed me on VOG would know i got out completely unscathed, after being outspokenly critical of management. i published a lot of personal research into the CEO's royalty arrangements and how these had been wrongly disclosed to shareholders (and took a lot of flak on the board from loyal shareholders for so doing). this breach of trust was the turning point for me. following an unsatisfactory meeting with directors in the presence of the Nomad, i exited VOG and advised others to do likewise. so my troll friend, what's your excuse?
Ps. it goes without saying that if similar circumstances were to arise in San Leon, i would have no hesitation in changing my view. but they are entirely different stories, in particular as San Leon has loads of cash and a very limited downside from here.
Alaric, " share price is significantly undervalued because of past poor performance by management and the resulting skepticism in the market about delivery on anything, even an iron-clad contract with a sovereign government, as well as the parlous state that AIM and all small-cap resource stock markets around the world find themselves in, and NOT concern about future drilling programs or any other such issues. Delivering in the short term on the basics will move this share (as I believe it is doing today in fact) significantly, and everyone reading this needs to always be careful to remember that.’"
Sound familiar? This was posted about VOG in Jan 2015 when the share price was around @60p. Share price today? @6.7p
Alaric, " the context was that we don't want you clogging up this board with irrelevant, longwinded and boring stuff, at a time when san leon has finally got itself into a really interesting place. that's all."
If you had a longer attention span and were less pompous in talking for the whole public board, you might stop making the same blunders.I realise you're just trying to distract attention from your dismal failures, of course. It took 30 seconds to find the above, I can remember several more that I can check in seconds if you really want to start posting about what is relevant, long-winded and boring.
Date ++ Shares ++ Price ++ Total. Running Total*
03. Dec. 91,911 -27.20p £25,250 $1,018,796 Over 50% complete
04. Dec. 90,025 -27.77p £25,250 $?1,051,874
05. Dec. 90,909 -27.50p £25,250 $?1,084,952
06. Dec. 89,831 -27.83p £25,250 $1,118,030
09. Dec. 87,412 -28.60p £25,250 $?1,151,360?
10. Dec. 87,108 -28.70p £25,250 $1,?184,690
11. Dec. 88,028 -28.40p £25,250 $1,218,020 60% Completed
12. Dec. 87,719 @28.50p £25,250 $1,251,602
13. Dec. 87,196 -28.67p £25,250 $?1,285,437?
16. Dec. 88,683 @28.19p £25,250 $1,?319,272?
17. Dec. 89,285 @28.00p £25,250 $1,352,350
18. Dec. 88,967 @28.10p £25,250 $1,385,427 Approx 70% complete
Higher Fx rates may mean buyback completes as early as W/E 10th Jan (previously estimated W/E Jan 17th)
Total number of Ordinary Shares in issue with voting rights now ??451?,751,564
*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.
Alaric "no easy way to say this Eadwig: none gives a monkey's what you are"
No easy way to say this, Alaric, but it was you who brought it up, not me. Have you seen a specialist about short term memory loss?
muckspreader nice see you agree with me that red lion is only for traders when you tell mr marty he should bee taken money at 46p when it was only chance to make investment work with the red lion in 14 months. well done at last you good boy at last. God Bless you.
14 years nothing changed in your bs vitriol eh Sid other than boot polish face like Justin Trudeau.
here is a post from mcclean from 14 months ago when the share was the same price as today. better investment putting money under your bed. how wrong can you get mcclean would be ok for day traders but not privte investor.
the red lion is worse return than selling elephant dung.
mclean91
Posted in: SLE
Posts: 435
Price: 28.50
No Opinion
RE: mclean26 Oct 2018 19:56
Things have changed a lot since those old days frus, and we now have a producing field so hopefully things can only get better with cash flow from loan notes and a new well being drilled this month and that production increasing. End of month next week hoping for a nice rns regarding payment of those notes!
M,
I doubt the guarantee will be enforceable under UK law, but if you say it is I am willing to accept. I could not be *rsed to check, because frankly the whole transaction is a farce for a supposed 'O&G' company.
Given you were the guys saying we would never see the 40's again after the 46p 10% share BB, I am surprised you are now suggesting PI's should have sold out fully. But perhaps you were correct - now maybe we won't see the 40's again. Hindsight is 20/20 vision.
Ah yes, I had forgotten about that 3rd party guarantee from a trustworthy entity enforceable under a stable legal jurisdiction. I was thinking of the guarantee by 2 other companies involved in the same transaction (nothing circular about that) to act "honestly and in good faith" - as all companies in Nigeria do - under a guarantee presumably enforceable by the Nigerian legal system. I was also thinking of the fact that Eroton has yet to pay dividends and that for 2 years MLPL has been taking out alternative loans to make repayments.
So no, I would not boast too loudly about a solid asset base just yet.
However, despite how appalling the above facts look, I am comforted by the idea that OF, as a shareholder, will never allow himself be screwed by his Nigerian counterparts. Instead he, the Nigerian counterparts and major shareholders will work in harmony to take the company from the minority shareholders.
So be it, I couldn't give a monkey about what they do with the company - 55p, while looking very optimistic ATM, gives me a reasonable profit and is all I am looking for.
"Being a loser" - 99% of PI's in this share are losers. Most have long given up on the company - at least I retain hope for a price rise from the current abysmal level and a (rather optimistic) exit strategy. We'll see how it goes.
Mclean, are you still peddling the fiction that San Leon is an oil producer? Never was, isn't now and is very unlikely to ever will be.
muckspreader, never mind wrong bulitin board or your ha ha lafing stick to the question and help me out please . what is level 2 secured finance. you clever boy. you or your close friends in PR mr and mrs alaric tell me so i am undersanding what you are mean. thank you.
mucklinksdean perhaps can you explain level 2 secured finance to me please.
mr or mrs alaric can you explain level 2 secured finance to me please.
... whoa hold on there mclean, you're getting into level 2 secured finance there. marty's only just reached how to read stock prices level 1, so go easy as we don't want to freak him.
.. loan notes guaranteed and asset secured indeed, mclean.
"$140m owing"? That would be the loan notes for which, per the interim statements, management have assessed the credit risk and consider that it has 'significantly increased since initial recognition'. Good luck on that one if there are increased problems in the oil sector.
But let's assume there are no problems - I sincerely hope not, still being invested. You guys say the share has a value of 130p. The current price is 28p. Somewhat strange, that. Now who do you think is going to accumulate and eventually pocket the difference? My bet is that it will not be you or me. I am not greedy and will be more than happy to get out with an offering of about 55p (are you listening, boys?) but 'the team' continues to play minor SH games. Unfortunately, with a current market price of 28p, even 55p is beginning to look like wistful thinking. You guys can hang on for your 130p.
Yeah nah