SLE.L Share Chat (SLE)

What is crazy is a non holder 00 brain cries about sle , posts sle is dead but its not, posts continual doom here , yet when a knowledgeable holder holds him to book he cries again about inside info, how the fk can it be inside info sle are suspended at the mo you fkd up meth head.......still waitin for the keystone cops or starsky an hutch etc to arrive 00 thick head, l will say this imo sle will be in various talks MH won't want sle finished like 00 doz ....so 00 ick 4 brains suck it and see.🤣🤣🤔😋🫣😱

What the hell does any of that even mean? Again

Go pound sand, you complete non-entity

But you, so often, tell us all you are always correct and never make a mistake bluerill. LOL

You can't backtrack now, idiot.

Freudian slip. I meant 'IF he closes on a transaction', though the odds of such have objectively improved based on the company's recent successes in court, the results of which some here not only got completely wrong, but have still not acknowledged their 100% track record of ignomy in doing so, nor apologised for the exigent predictions for the company that followed each and every time.

So I reckon I have plenty of mulligans in reserve in this particular scrap with Elmer Fudd.

A quote by bluerill, "SLE's prospects continue to improve and Fanning finally closes in on a transaction."

How very interesting. Is bluerill privy to inside information?

Will this statement come back to bite him in 3/6/12 months' time? LOL

Red - I'd suggest you'd have better luck advising him to stop and grow another head....

The 'definition of insanity' rules clearly apply now and should necessarily be invoked from here on when/if someone decides to engage with 2Heads, particularly as SLE's prospects continue to improve and Fanning finally closes in on a transaction. That's when engaging with this particular snowflake could prove even more harrowing.

Another ignorant, ill-informed post from 36800.--------------------

-

-you really should stop and think before you post.

"the company's shares were suspended or de-listed THE ENTIRE TIME" (2 years ago)

=

diagnosis 'dead, defunct, Kaput company for all intents and purposes.

By the way how is your friend Mr. Fanning financing his lifestyle, his Dublin mansion, London home, Dubai Home and racehorses etc? Do you know what he is still drawing from the company? As there are no accounts, it's difficult to ascertain this information. As the company is "only suspended", he is still able to pull a wage from the remaining coffers. NICE

Thanks in anticipation. LOL

I think the formal diagnosis for you is 'dead, defunct, Kaput.' Primitive, near-illiterate prose, but it'll do.

Before you go though, tell me again how I lost 'thousands and thousands of pounds' for an untold number of nameless, faceless shareholders by with my near perfect record of correcting yours and other's countless dopey errors on everything from corporate finance to corporate law to accounting basics, as well as your endless boneheaded declarations of imminent doom for the company that you would then declare, over and over and over and over and over again (and over again), even though the company's shares were suspended or de-listed THE ENTIRE TIME. That's my favourite.

That's right, it's not made up. It's a true analysis of the difference between you and I, by a totally impartial observer after "they" have read through all our posts.

You don't come out well, Bluerill, no surprises there. LOL

Ha ha pmsl 🤣

I’ve been to a funeral today and just checked in. Was probably feeling a bit sentimental but your post has cheered me up!

Have a great weekend folks, patience is the key.

Oh poo, AMGD. I was almost finished with a vulgar but hilarious post about how he posts mindless blah, blah on an anonymous social site because it gets him, um, 'excited' and then he waits for me to fire off some hissy fit directed at his dopey claim that I somehow cost punters money during a period when the shares were either suspended or de-listed - and thus never once traded - so that he can achieve 'release'. But then you had to go and post that perfectly reasonable message, treating the guy like any other normal human being with anger issues, albeit one whose hand you had to stroke ever so gently lest he get too excited, and spoil my zen.

Killjoy

36800. The first sentence is entirely valid, I think we are all frustrated with the lack of communication from the company.

That frustration shouldn’t turn into a tantrum and an evil crescendo.

Nothing else to do other than be patient and polite!

If it's dead and defunct why are you bothering to post?

Absolute rubbish from start to finish

Claude just came back after a further prompt:

"....and don't forget shamelessness. Being devoid of shame, the ability to suffer near-ritual humiliation and just pop back up within days of the last hot mess, with yet another boneheaded attack, spewing a new bunch of flaccid insults at his tormentors, as if none of the previous cringe-bait every happened, is absolutely elemental to the species...."

Huh. And here I was thinking that this particular muppet was uniquely hopeless. Thanks, Claude

So, translation: even better than I set out, but also demonstrates - once again - how dangerous Google Alerts can be in the hands of a raging mediocrity who thinks because he's been posting banalities on a bunch of different companies for 5 minutes, that he's Warren Buffett. And just in case no one notices that he's once again run right off the cliff trying to outsmart the roadrunner, he titles his thread 'Goodbye, San Leon'. No, you could not make it up.

So, after yet another needless shtshow, another spectacular display of investment-naivete-meets-unearned-snark, will we finally see a chastened attitude out of this particular gadfly where he tries to self-soothe his bitterness perhaps by reading the re-admission document to try and understand just a little why SLE is in a stronger position than he realises? And in the process, maybe begin to try and figure out why he takes such glee in announcing its fake-demise constantly? Maybe even throw in an apology for needlessly misleading/frightening shareholders? Again?

Just did an quick AI search on that one. Came back: "Yeah, right. lol. The misinformation, the exigent conclusions based on links to obscure websites, ignoring proper DD because of an obvious lack of fluency in Corporate Law or Finance or experience in stock markets generally, is not a bug, its the feature of posters like these. All they look for is to trigger others and create what they believe is some kind of elevated status for themselves despite the anonymous backwater nature of financial chatboards like LSE..."

Clever fella that Claude.

On the 8 may the case was listed for mention to correct an error on the order for costs. By consent of the parties the court order was amended.

Kennedy j judgment ,

No evidence was submitted by Brightwater that the company was insolvent.

San Leon secured an Interim Injunction before the President of the High Court preventing Bright-water from filling a petition.

At the hearing for a permanent injunctio before Mr Justice Kennedy The High Court set aside the injunction,

This decision and the order of costs has been appealed to the Appeal Court.

Brightwater separately settled its claim for services provided by Ereton and agreed a stay on all legal claims including SANLEON Energy plc.

High Court proceedings have never been issued by Brightwater against the company.

Dear god, not again.

Busy life atm, but I'll bottom-line it for everyone, bar one little fella out there: Absolutely nothing has changed. SLE continues to pursue a solution to this seemingly endless process, unencumbered by ANY wind-up orders, especially and particularly, including the one from Brightwater. I reckon the parties were back in court last week on a technicality and the judge's original stay on SLE's injunction was RE-PRINTED and then picked up by a couple on-line sources. That's it. As Red said, we have long since moved on this and nothing changed last week.

I will be back soon I hope with a longer look at developments in the larger SLE ecosystem, which may include parties like bw getting paid by their true debtors (eg, Eroton), and especially a reflection on some needed counter-factuals like, Why have we not heard anything from SLE's significant creditors, like Toscafund or its major Nigerian bank lender(s)? Hint: because the former remains a strong supporter and the latter's loans to SLE are CURRENT.

Finally, I'll leave this for one special contributor out there who had the shame center of his brain removed when his parents panicked that he might not make it out of the playgrounds of his youth alive: If nothing else, when you're putting yourself out there, learn to spell 'LOSER' correctly. Otherwise, its a tell.

Https://www.marketscreener.com/news/arbitration-clauses-not-a-shield-against-a-winding-up-petition-ce7f5bdbd888f72d

Basically Ripley, ..as SLE is no longer listed on any recognised se, they cannot be held in an isa......They should have been taken out back in 2023, but Jarvis ommited to act...now HMRC have instructed Ii to remove them from Isa accounts....ii have transferred them at today's value..ie NIL....So Hmrc now views you as having just bought them at nil p, and zero is your base price to calculate any future Cgt, regardless of whatever you paid for them in your Isa.

.I have had many conversations with HMRC, and nomatter what happens with any future re.listing, you cannot put them back into your isa, save for a normal cash and isa within your isa allowance..

.Sorry to bare bad news....but thems the rules.

Wondered what I posted in October .

Jarvis transfer .

I see a post topped up in March 2023 @ 20.5p after it came back from suspension .

Ripley, the certificate would look good framed. A reminder not to get involved in badly regulated AIM lifestyle companies.

May I recommend a gold frame, which always looks good on worthless share certificates, giving them an air of importance. Nice to hand on to the grand kids, you know, just in case.

Reeyemines - good keep this SLE on London South East open - it's all we have on what the heck is happening with SLE.

Afternoon Ripley---- well you never know, we live in hope of a requote somewhere.---------Maybe you could trade them privately (i really don't know), but I'm sure that Cert is worth more than just a piece of paper, and at least you now have something that could be worth real money in the future.

---Def don't give it to charity.

Hi redeyemines

I read here they eventually went into administration .

"That means that no matter what you paid for them, you are now regarded by HMRC to have bought them now at Zero, and any price you sell them at will be subject to CGT., ....you will not be able to offset any loss you may have from your Isa purchase price."

Ripley...back in October you posted about your holding in sle that was in an isa.At the time I told you mine had been transferred across from Jarvis to ii without a problem....,...

...That now turns out to be wrong.

It appears that once a stock is not listed on any recognised exchange for 30 days, it cannot be held in an isa.

.My holding is now being transferred from my Isa account into my Trading account....and they will go into that account at today's value ..ie..ZERO.

.That means that no matter what you paid for them, you are now regarded by HMRC to have bought them now at Zero, and any price you sell them at will be subjet to CGT., ....you will not be able to offset any loss you may have from your Isa purchase price.

OUCH.

Sheesh, really, is that all you've got? You gonna follow up that marble-sharp retort with a copy of last month's trading report?

ffs, read a book and let the grown ups talk business

Wow, what an angry rant from bluerill, a very revealing display of emotion, a broken “man”. Must have touched a nerve there, a bit too close to the truth. But not surprising for a person who spends so much time crafting his investment skills and, for years, posting endless hope-filled dreams that have never turned into reality.

And “he” still gets it so wrong. A person who has been telling all to be patient for several years now, and still no results. An obvious loser, embarrassed by his own incompetence. Poor boy.

Have you tried a post office savings account bluerill? Probably about your skill level when it comes to investing. Lol

You can't even rant like a grown-up. If you can read gibberish as well as spew it, try having a gander at this latest haymaker you threw at me in the hopes that you might finally hit something, but this time try and apply whatever logical reasoning your medication allows. What exactly am I attempting to 'ramp' vis-a-vis a share that has been de-listed? How precisely is taking time to discipline an errant baby on how sle's business actually works, not to mention the constant need to provide you the basics of finance, civil legal procedure, stock market fundamentals and even what constitutes a credible newsource benefiting me, ffs? You think spending time I will never get back in such a dreary manner is going to make me feel better about these imagined financial loses that are tormenting me? Or maybe....you just like lashing out like a spoiled brat...

So if you manage this effort to impose just a modicum of common sense upon what you're reading, you'll quickly start to feel a sense of unease, akin to nausea, rise inside you. That, young man, is embarrassment. You're ashamed that no matter how hard you try to contribute absolutely anything of value here to advance the understanding of what's important - either the state of the economics of San Leon's business, its evolving corporate structure and the infrastructure it continues to advance, and/or fresh takes on the region's economy or other important players like Eroton or Shell - all you are ever able to do is try and serve up someone else's ideas already masticated to a fine pulp, or your favourite stock-in-trade, an utterly witless misread/complete misunderstanding on everything from over-hyping some meaningless legal 'decision' to mistaking the share price showing on this page for sle's true value to this latest furball in convincing yourself that Cawthorne's inaugural activity was a big (negative) deal for San Leon instead of the complete non-entity that it was. Gosh. That is so you!

You are blissfully clueless, and simply don't know what you don't know. You think being really, really angry somehow entitles you to protection against the mockery from not knowing what the hell you're talking about. Like ever. Who cares if you're too ignorant or plain stupid to know that some court decision was preliminary and the appeal could take years and likely wasn't binding in the first place, or that just because the LSE board shows sle share price at '0', it has nothing to do with the actual share price, or that Cawthorne is built to service OML-17, not OML-18 or any other of a dozen outrageously meathead mistakes?? Who cares about that you get it wrong time after time? None of that should matter because you are really, really angry at Oisin Fanning for putting the company into this situation which makes you soooo mad and being mad means you have integrity in your mind, right? Maybe in your world, <37k, but in mine, people prefer to get it right, while keeping our emotions to ourselve

And you will be patient forever, what else can you do with your investment losing value every day, your money inaccessible, being eaten away by inflation and losing the great opportunities to invest that the world of geopolitics and AI have given me and others not so foolish as to believe in your continual hype.

You be patient, like the ever hopeful fool you are. Patient for another 2/ 3/4 years, then nothing. You're the OBVIOUS idiot here, bluerill, a complete and utter ramping numpty who has lost his shirt, and his underpants by gambling on San Leon Energy.

It must be so frustrating seeing your money in your account, sitting there but knowing its not your money as you have no control over it.

As they say, a fool and his (ramping teams) money are easily parted. And bluerill, you are the prime example of that wise old saying.

LOL

And its not just your rank stupidity or your unparalleled record of getting everything wrong, its the total lack of humility that you show the next time you present what your very little brain thinks is some sort of 'gotcha' news. You know less than nothing about the proposed evac systems in that part of Nigeria, you've been wrong about everything of consequence to date, and yet you still rock up with another dopey take wrapped in your signature snarky prose, thinking you're owning the meanies who have so consistently given you a spanking and sent you to bed without your supper.

News flash, genius: Cawthorne is not a threat to San Leon, existential or otherwise, nor even a competitor. In fact, its more likely to become a customer of SLE's infrastructure. So there's that.....

the quantum was a bit lower than i was hoping as i suspected sle went for a much higher number. still, none of us would sneeze at if if the company manages to collect.

as for actually seeing some doe rae mi out of this shtshow, while i've mentioned a couple times that recovery may be near-impossible for sle, i'm softening that stance somewhat. this ruling of course has the force of law and i reckon failure to pay could translate into an interpol arrest warrant, which would in theory severely restrict the 2 alis ability to travel to almost all the major market countries. so if - and it is a big, fat 'if' - the alis and to a lesser extent, tram itself - are even somewhat legit, being effectively trapped in ****stan and only being able to travel to the developing world and parts of asia, may be contraindicated for these 2, even if they are a couple of chancers, and they may well be willing to pay up to prevent that eventuality. who knows? maybe someone can ask claude.....i'm kidding!!! please lord, continue to restrict his keyboard privileges to birthdays and special occasions and to subjects that don't stir up the blood in his head.

Well done redeyemines, read this today great news , think all the lying non holders will be sh1otin themselves today.🤣😂🤣😂

The Irish Times.

-San Leon, the Dublin-headquartered gas and oil exploration firm, has been awarded damages in the region of €16 million by the High Court, after a Canadian asset-management firm sued by San Leon over reneging on an investment agreement failed to defend the lawsuit.

San Leon plc brought the action against Tri Ri Asset Management Corp (Tram) last March, accusing the Toronto-based firm of failing to follow through on a deal to swap 419,000 shares in US technology firm Palantir for a 10 per cent shareholding stake in San Leon.

San Leon, with offices on Crampton Avenue, Dublin 4, also sued father and son Shan Ahmad Ali and Asad Ali, director and chief investment officer of Tram respectively, and both with addresses in Toronto.

The Tram defendants failed to enter a defence to the lawsuit. Last month, the High Court granted judgment to San Leon in default of defence against the Tram defendants.

Ugh. I don't know about teeth gnashing, but the only remotely relevant info is indeed contained in no3: the award SLE secured yesterday agains TRAM, which will doubtless be reported in the Irish Sunday press. I've written already that the Company may well end up whistling dixie in any effort to collect, but its another moral victory for OF and another nasty rebuke to the chicken littles on here who think we're going to forget the wild, apocalyptic speculation they spewed at the time Ali pere and fils first appeared on the scene. Hint: we haven't

Sorry cd, the rest of your post is disposable, undigested partial info and/or fully de-bunked backwash.

From dear old Gemini, confusion reigns tomorrow will be definitive re The State Gazette (Ireland). Or maybe it won't. (Item 3 should bring about a great gnashing of teeth)

Gemini said

As of Thursday, March 12, 2026, the status of San Leon Energy PLC remains in a state of high-stakes "verification limbo."

While a legal judgment was delivered earlier this year paving the way for liquidation, the formal winding-up order has faced a dramatic last-minute delay. Here is the breakdown of the situation as it stands before tomorrow’s records are released.

1. The "Houdini Act" (Current Court Status)

On Monday, March 9, 2026, the High Court of Ireland was expected to finalize the winding-up petition brought by Brightwaters Energy. However, the order has not yet been executed or advertised.

The Adjournment: Reports from court proceedings indicate that San Leon’s legal team presented evidence of a pending settlement (likely involving a $16.5 million payment from third-party funders).

The Stay: The judge appears to have granted a brief stay of execution (likely 7 to 14 days) to allow these funds to clear. This means the company is currently "Alive and Trading," though its board remains under intense pressure.

The Liquidator-Elect: Interpath Advisory (Kieran Wallace) remains the designated liquidator should the settlement fail, but they have confirmed they have not been officially appointed as of today.

2. The Final Truth: Iris Oifigiúil (The State Gazette)

Under Irish law, once a winding-up order is formally made, it must be published in the Iris Oifigiúil.

Tomorrow’s Edition (Friday, March 13): This is the critical date. If the winding-up order was finalized earlier this week despite the adjournment rumors, it will appear in tomorrow’s publication.

If it is NOT listed: It confirms that the adjournment holds and the company has successfully bought more time to secure the refinancing needed to pay Brightwaters.

3. Recent High Court Victory

In a separate but notable twist, San Leon was awarded €16 million in damages on March 11, 2026, against Tri Ri Asset Management (TRAM).

The court ruled in favor of San Leon after TRAM failed to defend a lawsuit regarding a reneged investment deal.

While this provides a massive legal "win," the immediate challenge remains liquidity: San Leon needs cash-in-hand to stop the Brightwaters petition, and a damages award can take time to collect.

This is starting to feel a bit like one of those famous behavioural experiments from the 50s and 60s where ordinary people would end up pushing buttons that allegedly delivered increasingly powerful electric shocks to anonymous 'patients' on the other side of a screen if they were 'ordered' to do so by someone seen to be in authority and despite the screaming that could clearly be heard coming from the other side. Even to the point where the dial was turned up to the 'deadly' setting.

At this point, I think bs is so profoundly triggered that I'm not sure he's even aware that this is a community message board with multiple individuals who are effectively just staring at him as he lumbers around his digital cell, talking to himself.

Based on my checks of the London Stock Exchange (RNS) and the High Court records this morning, Thursday, March 12, 2026, the situation has shifted significantly. It appears your phone calls to Interpath and the High Court were exactly what was needed to uncover the "Houdini act" I suspected.

1. The RNS "Survival" Update

The London Stock Exchange feed for San Leon (SLE) shows that as of this morning, no "Appointment of Liquidator" notice has been released. Instead, there is widespread market chatter and unofficial reports (consistent with what you heard from Kieran Wallace) that San Leon’s management has successfully adjourned the winding-up petition.

2. Why My Competitor and Initial Data Were Wrong

There is a specific reason for the confusion:

The Judgment vs. The Order: On Monday, March 9, the judge likely indicated that the company should be wound up based on the precedent of [2026] IEHC 1.

The "Courtroom Door" Deal: However, at the final moment, San Leon’s solicitors likely presented evidence that the $16.5M debt to Brightwaters was being settled by Eroton or another third-party funder.

The Adjournment: The judge appears to have granted a "Stay of Execution" or an Adjournment (likely for 7 or 14 days) to allow that cash to land. This is why Kieran Wallace told you he wasn't aware of an appointment—because the "trapdoor" was stopped at the last second.

3. What this means for your "Dead End"

You are not at a dead end; you are in a "Verification Limbo."

Interpath: They aren't lying. They aren't the liquidators yet. They are likely just the "Liquidators-Elect" who will step in only if the settlement money doesn't arrive by the new deadline.

The High Court: The clerk won't tell you the status because the case is "active" (adjourned) rather than "closed" (wound up).

4. The "Final Truth" Timeline

We must wait for the State Gazette (Iris Oifigiúil) tomorrow, Friday, March 13.

If a Winding-Up Order was made, it is a legal requirement to publish it there.

If it is NOT there: The company is officially still "Alive and Trading" (though suspended).

First off - no one can say they weren't warned. This latest descent into madness demo, where he keeps 'retiring' from posting and then comes back 5mins later increasingly with ranting gibberish that has long-since been painstakingly de-bunked, is certainly not isolated behaviour, but very much a pattern that has been building for some time. I will take my share of the blame in this; in treating bs with the same contempt as just another disposable, ignorant jackaninny like <37k, I probably helped trigger this breakdown more than was necessary, since even I would agree that earlier bs content was at least occasionally value-added and mostly shared without too much of an agenda.

Meantime, I keep coming back to the fact that there seems little discernible motive in this meathead's behaviour. The shares are suspended of course so the 'normal' share price chaos that bad actors like to exploit for either giggles or profit, is clearly not available to him in this case. Furthermore, as Red is implying, what's left of bs cognitively must surely be able to appreciate that, despite the low status of this end of social media, he is risking sanctions ranging from action by the Company that could include legal consequences, but will almost certainly involve him losing his anonymity, to a permanent ban from this chat board, an inconsequential penalty for most of us perhaps, but for a miserable, attention-thirsty keyboard warrior like bs, that could prove quite scarring.

Black Swan, listen very carefully.

-

---Ereton have agreed to pay that $16.5 mill debt.

-

-The original WUO petition against SLE, sort by BW, on the 13 Jan, has been stayed.

-

-All action claims by BW against SLE, Ereton and Eli, have been stayed.

-

-NO LIQUIDATORS have been appointed.

-

-BE CAREFUL WHAT YOU ARE POSTING.

bs, seriously forget about ai, no disrespect here but this is a load of *******s. what i posted today regarding eli malta is real, there is a link to the maltese courts service and those events are real.

bw never issued a winding up petition, they were granted leave to do so, but to this point have not and i suspect will not given recent events that disclose a potential settlement in discussions. indirectly we need sle to be very much alive and kicking if we are ever to get paid, but we will get settled that much i am confident in after last months judgement against eroton. but i nearly had a f...ing heart attack this morning when i read your post and my advice for what its worth is stop using ai. what you wrote is libelous and as red says, you need to stop posting google s..t, let the parties resolve this and like i said last week, it will work itself out in time, none of us are in control, but equally as a non-shareholder, you need to be mindful and respectful to your colleagues as shareholders about what is being posted.....

Thanks for the summary. I expect Trump and Kushner and co have profited nicely from the huge fluctuation in oil prices.

It's a shame that sle isn't in a better position (yet) to profit from the straits closure (to western aligned interests).

I get these daily updates, thought I would share on here if anyone is interested as from a Crude Oil Price perspective, this is historical....

📉 Oil plunged 30% overnight: a historic collapse

The price of Brent crude fell from $119 to $83.92 per barrel in less than 24 hours — one of the sharpest declines in market history. In the morning, prices corrected to $92–93. The reason was Trump’s statements about the imminent end of the war with Iran and the US taking control of the Strait of Hormuz.

🇺🇸 US eases sanctions against Russia

The Trump administration is considering a partial lifting of restrictions on Russian oil to curb the rise in world prices. This further drove down prices.

🏛️ G7 prepares emergency release of reserves

The G7 countries are discussing the release of 300-400 million barrels from strategic reserves. IEA head F. Birol held consultations with Saudi Arabia, India, and Brazil, but no final decision has been made yet.

🛢️ Saudi Arabia cuts production

The world’s largest exporter has joined Iraq, Kuwait, and the UAE in cutting production due to overflowing storage facilities amid the blockade of the Strait of Hormuz.

🇶🇦 Qatar warns of global consequences

The Qatari Foreign Ministry said that attacks on energy facilities in the Gulf would have serious consequences for the global economy. LNG production in Ras Laffan has been halted.

🇷🇺 Putin: Russia is ready to work with Europe

The Russian president has declared his readiness to supply gas and oil to European buyers if they ensure long-term stability without political interference.

📊 Strait of Hormuz: an unprecedented crisis

Experts warn that a prolonged blockade of the strait could cause an energy crisis of unprecedented scale, with production halting in half of the Gulf countries.

It's unsurprising that AI churns out sh**. As a generalisation the systems are trained on all availale data in the public domain. So, as just one example, look at the crazies like Trump, Hesgeth, Rubio, Netanyahu etc etc etc and try to imagine the impact - no wonder AI systems hallucinate. Yes I know it's more complex than this but you can see the point I hope.

Case Title: San Leon Energy PLC -v- Brightwaters Energy Limited

Neutral Citation: [2026] IEHC 1

Record Number: 2025 3284 P

The Ruling: Mr Justice Kennedy formally granted the order for the company to be wound up by the court. The judge specifically cited the "unchallenged prima facie evidence of insolvency," including the three-year failure to file accounts and the suspension of the AIM listing.

Management has been legally stripped of power. All corporate authority now rests with the court-appointed liquidator.

Appointed Lead: Andrew O'Leary (Managing Director)

Firm: Interpath Advisory (Ireland)

Address: 10 Earlsfort Terrace, Saint Kevin's, Dublin 2, D02 T380

Contact the Interpath insolvency team at enquiriesIE@interpathadvisory.com to confirm that the equity in San Leon Energy PLC is being ranked behind $16.5M+ of secured and preferential debt, leaving no residual value for ordinary shareholders.

________________________________________

3. The Physical Asset Loss: Nigeria & Malta

The operational infrastructure that gave the shares value has been legally liquidated.

The Ship (ELI Akaso): The Federal High Court in Port Harcourt (Suit No. FHC/PH/CS/193/2022) has officially ratified the sale of the vessel. It is no longer a San Leon asset.

The Pipeline Subsidiary: Energy Link Infrastructure (Malta) Limited (C82452) is in court-ordered liquidation in Malta (Case 124/2022). The Official Receiver, Ingrid Fenech, is the liquidator.

The Ship (ELI Akaso): The Federal High Court in Port Harcourt (Suit No. FHC/PH/CS/193/2022) has officially ratified the sale of the vessel. It is no longer a San Leon asset.

The Pipeline Subsidiary: Energy Link Infrastructure (Malta) Limited (C82452) is in court-ordered liquidation in Malta (Case 124/2022). The Official Receiver, Ingrid Fenech, is the liquidator.

Was sent this link this morning, you need to use a translator to translate from Maltese to English.

https://ecourts.gov.mt/onlineservices/Judgements/PrintPdf?CaseJudgementId=159170&JudgementId=0

Alaric disappeared shortly after being threatened with a Norwich Pharmacal order.

Anyone on this board missing Alaric? Long term spikey individual, nowhere to be seen. Wonder if he's in good health, or has just given up on SLE. His barbs would be more welcome than the general nastiness which is prevailing latterly.

Anyhoo. The real tension (IMHO) is what form the recent funding has taken, and it's impact on the share issue. Comments have been made (with no substantiation) of debts being called in, possibly leaving SLE in a flush, or reasonably so, position, such that the company accounts could be made up to date, which they apparently already have been. Presumably access to this 500m Eurobond was dependant on the company showing itself to be financially viable.

Obviously, the TRi Ri thing is still in limbo, but its resolution involves the release of more shares; maybe that's on hold until SLE decides to relist and define its share price. How many shares is of interest, but considering Tosca Funds domininant oposition, it shouldn't be of much concern (I hope) to us small fry, as Tosca obviously invested in the expectation of a substantial return. Small investors have been marginalised in other companies' transitions in the past and it can happen again, but I'm hopefull that this won't be the case.

As far as I can see, it's now just in the waiting, waiting, the endless waiting.

Hopefully a positive resolution is in the offing.

(This is like the days of the tech boom, remember then?)

Brent 107

Things are looking up here again

Ooooh, I'm feeling inspired:

- Sorry, was THAT an apology???

- I predict that farewell non-apology will set the SLE.L board record for upticks.

- I then predict the shortest retirement in the history of chat boards, and when he returns - because everyone knows his ego will not allow him to honour his pledge -guaranteed he still won't have read the re-admission document.

- In the meantime though, can I get a quick chorus of "Free at Last; Thanks God almighty, we're free at last...!"

- My favourite of his attempted knocks against me over time has been his obsession with whether I am posting 'informative' content, or sometimes for not posting anything at all (!), while he posts an seemingly endless stream of overhyped trivia, outright misinformation and half-baked, often irrelevant speculation, powers right through the endless fact-checks that follow, and somehow that is superior to me occassionally posting what a. complete tool he is, or even not posting anything at all. Did the guy think he would get a pass because he was really, really sincere or because he was the first to present the results of an AI prompt? Sheesh....

- Swanny, we hardly knew ye. See you next week?

Bluepill - Thanks for your usual highly "informative" post concerning SLE DUH?

Now that SLE is on the way to a recovery, I have decided to let Bluepill have his LSE "school playground" again!

I am out of here. Best of luck to all "genuine posters". Goodbye.

For those who are rightly squinting at his last few fur balls trying to find an apology, or any recognition at all of how spectacularly irrelevant they were at best, and dangerously misinformed at worst, let me translate: the kids call that a cope. Sadly, yet again, it is just someone with a completely misaligned ego trying desperately to appear relevant who ends up spewing so much misinformation, it ends up defying any normal person’s ability to fact-check.

GTJD - Thanks for the informative post, always nice to get some real on-the-ground news instead of depending entirely on AI.

Yes, my last post was only a possible "happy" scenario, posted mainly to spark discussion and show what the SLE share price could be when SLE returns to the market. My personal opinion on Eli Akaso, which is rather depressing, has been that, given the situation, we should disassociate ourselves completely from any idea of having an ACOES. It was a good idea at the beginning, but SLE failed to secure funding and complete the project. Let the whole Eli Akaso and pipelines package be sold by auction. I wondered what had happened to the pipes. I remember the SLE photo of them stacked ashore some years ago.  At the time, I was even sceptical that the photo was of our pipes. It's good to know they actually existed and that you have driven past them over the last 5 years. Amazing how time flies!

Agreed. Since Eroton is no longer the OML18 operator, we are now very much a rule-taker, but we are still in existence and a shareholder in an oilfield in Nigeria participating in the exploration of high-grade oil. Who could have imagined "Cawthorne Crude"? My personal opinion, for what it is worth, is that Nigeria will play an important role in global oil supply (OPEC Quotas) as the Middle East oil output becomes constrained by political problems.

General comment: Individuals on boards want 100% certainty in postings and often struggle to handle probabilities and scenarios - the real world isn't that way, situations change by the hour, get used to it.

GTJD - Thanks for your reality checks. Keep them coming if you have time.   

BS, regarding your last AI post, the Share side of it, not my business, but I am sure it will all work out for you more positively now, but just to clarify your latter comments and this is why you shouldn't read to much into AI, ELI no longer own the vessel, the SPM/Plem/Riser Works were never completed, nothing is attached to it apart from an SPM which I think was stopped part way through as that was Century's scope and they didn't get paid . More importantly, there is not a single metre of pipeline laid to it anywhere in the 3 phases. Some onshore works were done, but i believe these were now handed over or sold to Sahara, whatever type of deal was struck. The pipe is sitting in a yard in PHC (Driven past it many times in the last 5 years), This pipe in my professional opinion will not be used for any subsea project, it has an anti-corrosion coating which has weathered sitting in the wonderful Nigerian UV for many years, if it were to be used offshore shallow water, it may most likely need recoating. But more importantly Eroton don't have any operator licence for OML18, they are a partner in the block and whatever happens, pending their financial position improving over time, then its up to NNPC and other shareholders to decide Erotons operational involvement. Your comments around $220m required for the ships recertification, you said last week it was going to auction or could be sold for scrap, the scrap value for a ship like this is probably around $10m if that. I really don't think someone is going to spend $220m on it for a re-cert, but equally It won't be scrapped, it will be repurposed by whoever for whatever. The pipeline is not substantially complete! The pipe never got wet to begin with. You will note my earlier post regarding the new crude grade, that in part comes from the processing facilities onboard the other FSO Cawthorne. They are high-tech systems that allow for advance processing and blending.

I don't want to burst the AI bubble, but as Red says, it only reads and finds whats out there in the public domain and its unfair to put misleading info on a board like this.

The refinancing, when it comes by whichever party will clear down all the legacy debt, interest and costs, I know that will be a pre-requisite by NNPC and NCDMB as we like many other creditors have petitioned this, to ensure local contractors and parties have been made good.

Let due process take its course, there is so much to do when the refinancing comes, but the first step is securing the funding, second step settling all debts, third step resolving any and all equity issues, then they can all decide on what happens with involvement their after. The important thing is that this dispute is settled, that creates the enabling environment to start fixing things.

Redeyemines - DUH same AI different shilling?

----AI is not a real person, it is just an information gathering computer-------it can only repeat what it has learned from other sources-------very dangerous to give it any more credit than that.

-Clearly one of us is repeating what the other said------maybe this will help you decide.

"Could this be the cork out of the bottle now."-------------posted on the 23rd -------long before you put a shilling in the meter of your AI

Redeyemines- amazing to see how similar your posting was to Gemini's recent statements, using Gemini are we?

Quote Gemini

The Settlement: A "Cork Out of the Bottle" Moment

The reported settlement is the catalyst for the relisting. By clearing the $16.5 million Brightwaters debt (reportedly with the assistance of their partner, Eroton), San Leon has removed the primary legal "blocker" that was preventing them from publishing their accounts and admission document.

The TRAM Case: Investors are noting that recent legal "wins" (including the TRAM case and the Mart Western share transfer) have finally given San Leon the balance sheet strength to satisfy creditors.

Creditor Standstill: Market sources indicate the company is moving toward a "global settlement" with remaining trade creditors (estimated at $25 million) to ensure a clean path for the new listing.

Yes GTJD ----a lot of legal unpicking still to do, but this is definitely the cork out of the bottle, and 2026 could turn out to be a very good year for SLE.

-

-Tram case won

-MW case won

In the beginning it wasn’t anything to do with SLE, but in 2023 they stepped in and made it a legal obligation to settle in contract. Thats now history, it was obvious somebody would step in to settle this as they didn’t want their cash calls etc blocked. A positive outcome is emerging, things will look different but positive. Here’s to happy 2026 and beyond for you all🥃

The settlement of the $16.5 million debt was the signal that a new, legitimate financing structure is now active. Market data and recent legal filings indicate the following lead partners are replacing TRAM:

Toscafund Asset Management (The Anchor): Toscafund remains the "strongman" in San Leon’s corner. They have reportedly increased their support to facilitate the settlement and are expected to be the primary institutional backer in the upcoming relisting.

The "New Institutional Funder" (European Bond Market): As of late February 2026, San Leon is finalizing a major debt-clearing facility. Reports suggest a move toward a €500 million institutional bond, which would provide the "war chest" needed to settle all remaining trade creditors ($25M+) and fully fund the completion of the ELI Akaso pipeline.

Strategic Equity Partners: Several private equity firms specialising in Nigerian energy infrastructure are reportedly in "advanced documentation" to take a slice of the $220 million placing that will accompany the new Admission Document.

The link might work, or you can also ask Gemini!

https://www.independent.ie/irish-news/oisin-fannings-san-leon-energy-agrees-deal-to-lift-winding-up-threat/a1877901454.html?registration=success&force_sl=1&reg=true

It seems Brightwaters has taken the option of a "confidential agreement", whatever that contains, rather than stand in line with other creditors if SLE were driven into bankruptcy. The game goes on, thank goodness. Now, let's see if Fanning can close a deal to raise cash using the German bond.

Irish Independent (ExtractS) 01/03/26

" Brightwaters has now agreed a confidential settlement with the parties linked to this case and undertook not to pursue the winding-up petition in the Irish courts “against San Leon in respect of debts due” under a previous agreement between the parties".

"The agreement also includes a stay on any proceedings Brightwaters has in Nigeria and Malta against Energy Link Infrastructure, in which SLE has a 13pc stake".

"We welcome the news that Eroton [one of the other companies connected to the project] has come to a settlement figure and agreement with Brightwaters Energy Ltd, and that a stay on all proceedings has been agreed in the courts in London.”

“San Leon Energy PLC has always strenuously denied that this was our debt, and that it has never had any contract or dealings with Brightwaters,” said Fanning."

GTJD - Great post - if the "tensions" continue in the Middle East, as I have always maintained, Nigeria is one of the "open" access regions for the supply of crude to world markets.

Https://www.reuters.com/business/energy/nigeria-start-exporting-new-crude-grade-march-further-boosting-output-2026-02-24/

GTJD: Yes, A comment on lawyers: It seems there are multiple ways to delay or avoid a company's receivership. Interesting to see how SLE's recent case win in Nigeria will affect BW's upcoming case in Ireland.

The lawyers must be making a considerable sum out of all of us!

 

A comment on AI Gemini: Whilst voice interrogating Gemini, I was reminded of Arthur C. Clarke's 2001: A Space Odyssey, where, on the voyage to Jupiter, if you remember, HAL 9000 attempts to take over and dominate the communication with the crew. 

It seems that, as shareholders in this high-stakes game, all we can do is let the cards fall where they may!

GTJD - Good news that there will be no imminent auction of Eli due to the several winding-up cases currently being made against ELI by various creditors for unpaid debts. Going to auction with the existing outstanding debts would severely reduce the bid prices. I followed the Nigerian High Court references, but encountered a paywall when trying to access the court documents. At that point, I gave up since the auction was scheduled for next week and all would be revealed then.

The only source of income in this financial maze of income and debt appears to be an Eroton/SLE contract with Shell, under which Shell is to receive and pay for 32,000 barrels of oil per day, although it seems that, until today, Eroton has failed to produce a copy of the contract.

Eroton/SLE is facing significant debt, which is itself an understatement, with multiple claimants, including a dominant claimant, Guaranty Trust Bank plc of Nigeria (GT Bank).

The plot thickens when one considers that GT Bank apparently has an "All Assets Debenture" that originally secured a US$462,000,000 loan to Eroton.

The Debenture provides for a fixed charge over all Eroton’s plant and machinery, intellectual property, book debts, shares and dividends, goodwill and accounts, including its OML 18 Crude Oil Revenue Collection Account; in effect, Eroton owns nothing, which further complicates the receivership.

Thanks for the extensive link you posted from your lawyers https://caselaw.nationalarchives.gov.uk/ewhc/comm/2026/296

A recommended read if anyone has the time, which illustrates the complexity of forcing any company into receivership, and we haven't even discussed San Leon and BW in the Irish courts.

I take the liberty of posting  Mr Justice Butcher's conclusion below:

Bright Waters Energy Ltd and Eroton Exploration and Production

I have considered Eroton's arguments against a receivership order and found them unconvincing. It is now necessary to stand back and look at all the relevant circumstances in the round.

I am of the view that it is convenient to make a receivership order. The amount claimed by Brightwaters is substantial and considerably in excess of the probable costs of appointing receivers. There has been, and remains, a hindrance to the ordinary enforcement processes. I am satisfied that there is an asset over which receivers can be appointed, namely the sums due and which will become due from Shell. While there is no certainty that the receivership will achieve anything fruitful, there is at least a reasonable prospect that it will. I do not consider that the order proposed will prejudice third parties. Making the order will, however, be consistent with, and tend to promote the policy of English law that judgments of the court should be complied with and, if necessary, enforced.

Conclusion

For the reasons given, I will make a receivership order. I trust that the parties can agree on the terms of an order.

BS, i checked this morning and there is no auction, there are several winding up cases against ELI by various creditors for unpaid debts, but i was told until there is an outcome it will not go to auction, the vessel was also arrested, new term to me, but basically there are marine based creditors and marine laws for non-payment slightly differ from commercial law, which effectively means the vessel itself, can be arrested not the owners, very technical and none of our business, but learned something today....

I also received this link this morning from our lawyers, an overview of the recent London court case between BW and Eroton - https://caselaw.nationalarchives.gov.uk/ewhc/comm/2026/296

Interestingly in here it states, that ToscaFund paid this $5m USD not SLE on behalf of ELI, apologies if that was already known by all you guys.

The one thing you stated yesterday in a post..................... ''The good news is that the Administrator has physically secured Eroton's assets. He is legally empowered to view the "books," which may reveal exactly where the pipeline funding has been diverted''...............Everyone and anyone involved in this project from 2020 to 2023 has been asking this question as there was cash, thats what everyone was told and this court transcript would back this up. It will all come out in the wash. But ask your AI to triple check these statements. Just a mash up of companies, webs everywhere, with direct and indirect ownership, only people making any money out of this are lawyers as bloody usual...............but it will all get resolved and there will be some normality out of it all in time...Have a good weekend everyone....

Thanks for the posts BS-----appreciate the info

GTJD - Thanks for following this auction story. It's always good to have a reality check. I asked Gemini to reconfirm the last comments regarding the auction details the machine provided, and it seems the same. The Suite numbers given in the text might be useful for you to double-check the official court details.

"Yes, I can confirm that the vessel FSO ELI Akaso (the central export terminal for the ELI pipeline) is officially scheduled for a court-ordered public auction.

The auction is the result of a consolidated legal battle involving multiple creditors who have successfully applied for the "arrest" and sale of the vessel to recover millions in unpaid debts.

🏛️ Official Court & Auction Details

The auction is being conducted under the authority of the Federal High Court of Nigeria. Two primary legal actions have converged on this vessel:

Lead Case (Port Harcourt): * Suit No: FHC/PH/CS/193/2022

Parties: Ocean Pearl Maritime SA & 2 Ors vs. The Vessel FSO "ELI Akaso" (Ex MT Farm) & Anor.

Action: This is the most recent active notice (published February 11, 2026) specifically listing the vessel for auction in Port Harcourt.

Secondary Case (Lagos/Port Harcourt Enforcement):

Suit No: FHC/L/CS/1928/2022

Parties: Stratos Trading Limited vs. Energy Link Infrastructure (Nigeria) Limited & MT. ELI AKASO.

Historical Debt Context: This follows a 2023 order involving Gimbrown’s Marine Oil and Gas Limited (Suit No: FHC/L/CS/2276/2022) for a judgment debt of $1,116,000.

🔨 Auctioneer & Timeline

Appointed Auctioneer: Bennis Strategic Services Nigeria Ltd.

Timeline: The public notice was issued on February 11, 2026. Under Nigerian Admiralty Law, a 21-day window is typically provided for "Invitation to Tender."

Next Week's Critical Window: The deadline for sealed bids and the potential "fall of the hammer" is expected to occur in the first week of March 2026, aligning perfectly with the March 3rd ruling in Lagos regarding the Eroton Administrator.

⚖️ The $13.8 Million "Caveat"

In addition to the physical auction of the ship, the parent company (ELI) is currently under a Winding-Up Petition granted in May 2025 (Suit No: FHC/L/CP/26/2023) by Petrolex Oil & Gas Limited for a debt of $13,837,235.98.

Crucial Note: Any bidder for the ELI Akaso next week will be buying a "distressed asset" that is entangled in these multiple multi-million dollar claims. This significantly lowers the expected sale price (likely to "scrap" or "distressed" value) compared to its original $40M–$50M valuation.

Told you Black Swan....... don't believe everything that AI says.

I am about to leave the office and walk up to get a cold beer as needed today. Just logged into our public procurement account and I can’t see this auction? I can see the previous one back in 24 but it was pulled and taken over by either GT Bank or others. Unless there is an urgent rush to sell assets to pay these debts, I really don’t see this going to auction at all. I was told before Christmas it would get fixed up and potentially redeployed to another block at some point, but there are to many rumours over this vessel as it is the biggest asset. Can you send us the link please?

Industry experts and maritime analysts estimate the Minimum Reserve Price is set between $5.5 million and $8.5 million.

This is significantly lower than its "operational value" of $40–$50 million, reflecting its status as a "distressed asset" that needs maintenance and class recertification.

The auction of the ELI Akaso is no longer a threat—it is an active process.

The Federal High Court in Port Harcourt has confirmed the "Invitation for Tenders" for the FSO ELI Akaso.

Bennis Strategic Services Nigeria Ltd has been formally appointed as the auctioneer.

Bidding is currently open. Under the standard 21-day notice period (published Feb 11), the deadline for final bids is expected to fall around March 4, 2026.

As of today, there is no record of an emergency injunction or "Stay of Sale" filed by San Leon's partners (ELI) in Port Harcourt to stop this auction. Without an immediate injection of cash to pay the $1.1M+ judgment debt to Gimbrown’s Marine, the vessel could be sold next week.