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You seem bitter that Julian has abandoned your company Alaric.

Mr Tedder was an executive with exceptional experience and an impeccable record so It's more likely Julian resigned as he saw that there was no future with San Leon Energy, the cash cow looks dead to all, time to move elsewhere to continue his otherwise successful career.

So who is his unnamed replacement, why not let us all know who the new CFO is, perhaps you can't because they don't yet exist, who in their right mind would offer to crew a sunken ship with so many years of proven failure?

Like I said.

https://www.irishtimes.com/business/2024/09/03/the-wait-on-fundraising-news-from-san-leon-energy-continues/

An interesting article that puts the funding blarney into a succinct timeline.

I believe Oising Fanning will take full advantage of not having to tell anyone anything as this fiasco continues, especially as he so far seems to have failed to secure the funding needed to save San Leon Energy.

Of course, there will likely be the usual third-party professional trolls speaking in his absence, promising jam tomorrow and stifling any fair debate, as they have done for many years.

Thank you for your reply Alaric, however, I shall take it with a pinch of salt as the vast majority of your posts have proved to be without substance.

A great benefit to San Leon Energy due to the cancellation of admission to AIM, that Alaric failed to mention, is that there is no longer any legal requirement to disclose anything to the public. Of course, the company can promise to keep its unfortunate shareholders up to date, still, Oisin Fanning's record of keeping his shareholders informed, in a timely manner, even when having to comply with regulatory requirements may influence your thoughts on whether it will happen.

I note the last case activity on Ocean Pearls winding up petition was progressed on 1st August. Does anyone have more information on the outcome of the day's proceedings? Has San Leon Eli Ltd been wound up?

Also, It has been 2 months since the "Brilliant coup pulled off by the deal meister himself Oisin Fanning” (Alaric, 5th June post-1454), that of being made the beneficiary of a €500 million German government bond and yet another expected refinance package announcement was made.

In that RNS of 5th June Oisin Fanning stated that he expected to announce further details, within two weeks, and that funds, (to save the company), were likely to be received during June.

That is now beginning to look like yet another fairy tale but in this story, no one is living happily ever after except, of course, the deal meister himself.

Really Sam! Does your paymaster continue to fool you? Even though the delisting confirms his incompetence and failure to deliver.

Who in their right mind would throw good money at a failed Nigerian oil company with no accounts, a profitless 10 years and countless unfulfilled promises? The Blarney Stone will yield no more for the man who has taken but never delivered anything but words to countless shareholders and backers.

I don't believe you can, yet. The shares still have value, although considerably less since de-listing. They have no liquidity and need to be traded OTC, and I doubt anyone wants them.

Oisin Fanning has mentioned re-listing, which would be the time to get shot of them if you wished to, although many years of history would suggest that everything he says needs questioning as very little he has promised has come to fruition.

So many attempts have been made to raise the rescue funding needed to keep the boat afloat and so many deadlines have passed regarding payments owed or due, and with no accounts available for a rescue financier to base risk upon, as each day passes it becomes less believable that anyone would have the confidence to throw more money at San Leon Energy.

No Sam, you are not questioning his whereabouts. You imply you know why Callusjunkie has ceased posting. You imply he has been stopped from posting and it was not his own choice. You indirectly threaten another poster implying the same will happen to them. Yet another device you use to try and scare away posters and certainly not a genuine question.

Be careful, did you know that in law implication is considered as much as a direct statement? You should because you often misquote the law in attempt to threaten and stop genuine posters opposing your rather biased opinion.

At the very least Sam your pattern of posting makes you look as though you are directly affiliated to San Leon Energy and/or Oisin Fanning.

Sam, in several posts you have implied that you know why Callusjunkie has not posted for a while. Can you tell us more?

It would appear that the city is also wondering how on earth this most unusual attempt at raising finance will work.

"When Cantillon asked San Leon who was so generous as to provide the use of their bond, or the terms of such an arrangement, or the identity of any possible lenders who would provide loans guaranteed by such a bond, the company was not inclined to be any more forthcoming."

https://www.irishtimes.com/business/2024/06/11/san-leons-curious-german-bond-security/

But surely Alaric, the coupon rate is paid to the bondholder. San Leon states they are a ‘beneficiary’, and the RNS says it will never be the bond owner therefore It will receive no interest or yield. The bond owner seems to be a guarantor for San Leon, offering the security of the bond for San Leon to borrow against? Indeed "we shall see as further details emerge".

Also if you do know of a government bond that yields 20% please let me know, I could retire at 45, which would be nice.

Yes indeed, questions Nailbob. It seems many of us are battle-hardened to Oisin Fanning and his public relation team's tactics and won't be holding our breath.

Maybe the announcement is designed to further stall Ocean Pearls' winding up petition. I doubt it will.

I am curious as to exactly what type of “government” bond this is. An investment into a government bond is usually considered low risk but the bond appears to be gambling its backer's money into a very high-risk proposition that no other lender seems prepared to take on without an awful lot of, shall we say, negotiation. Most unusual.

The RNS fails to explain many important details but does state the terms and conditions have not been discussed. It seems, yet again, Oisin Fanning is releasing news based on hope rather than fact and I will be most surprised if we have firm news within the stated two-week time scale. With terms and conditions not even having been discussed, receiving full finance by the end of June seems rather wistful, but follows the form of San Leon Energy's highly optimistic announcements so we shouldn't be surprised if we have no news within the stated time.

Oh Sam, poor foundling, you seem to know very little for a company man, or are you purposefully Ignorant?

A suspension is usually implemented when a fund manager is concerned that too many clients are bailing due to poor returns or it is likely that bad news may cause a stampede. It is used to protect investors in times of panic. No one in their right mind would suspend a fund if it is doing well or likely to do well.

From your continuous puerile comments, we can all conclude you are not in your right mind.

Sam its your hole that is causing the draft as usual you poor boy.

Martin has suspended the fund that San Leon Energy are part of.

And you call yourself well-informed. Try and keep up my child, it may add at least a small value to your comment.

Sam, Martin Hughes probably couldn't give a dam if San Leon goes belly up. This company is a minnow in Tosca's 4 billion pound portfolio.

He may even be glad to see the back of it and use the loss to offset capital gains elsewhere.

Alarik old fellow, perhaps he's not posting because there really is nothing more to talk about until, I think, 22nd May, when San Leon defends against being wound up.

You have absolutely nothing constructive to contribute so resort to goading posters who aren't even posting, how pathetic of you. Do you need to post such twaddle to justify your invoice?

Revenue will not automatically assume that suspended shares have no value. Unless, and until, Revenue rules that the shares are of negligible value or the company goes into liquidation, crystallising any loss, you will not be able to claim it against other gains on your tax return.

Alaric dear chap, this is not necessarily good news, merely confirmation of facts that were brought to our attention 8 days ago.

Well-put Nailbob, it matters not that this is from the recent past, it is fact and helps one's risk assessment and whether to invest in AIM. For me, it also highlights a question of trust. Can I trust the mind of a man who said he had purchased 98 million shares at 21p, in his own company, when he hadn’t? Then to make an official, regulatory financial statement informing shareholders and the financial press knowing he did not yet have the money in place to complete. Quite delusional I would say. He appears not to be as good at arranging finance as he thinks he is. Again, to me, it matters not when a man did this, only that he acted this way. We can only hope he pulls it off this time.

Sam245 you must mean the much-discussed and outrageous actions of both Oising Fanning and the San Leon Energy nomad as I commented on in January. Here's a recap for those who are unaware of this. We are still awaiting an answer from your friend.

"Alaric, can you explain how a statement from Oisin Fanning, released in an RNS, that he had purchased 98,000,000 shares when in fact he didn’t even have the finance in place, let alone make the purchase, was approved by a Nomad?

It would appear from this fact that indeed the wool can be pulled over a Nomads eyes as It seems they signed off an RNS which, without doubt, misrepresented the situation. I am not aware of any penalty either party suffered for this. A sham indeed.

To remind you, again, the Nomad wrote that "Oisin Fanning, Chief Executive, HAS purchased a total of 98,000,000 ordinary shares at a price of 21.0 pence per share ON 07 May 2020".

The AIM Nomad regulatory system seems far from robust as we all know this was not true. We all know this went unpunished. We can all see that the AIM regulations are flimsy at best.

But of course, your argument is pointless as the FACT is no money has been received and Mr. Fanning is worried enough to inform us all he is seeking another source of finance."

Dated 17th Jan 2024. Please note that despite a promise from Mr. Fanning of an update by the end of March 24. we still have no confirmation of progress regarding the third attempt to raise the essential finance to pay debts and continue the business. It is not looking as rosy as the bears in tinted glasses are trying to make out.