Member Info for Alaric

i know it's just about Xmas, BS, but i've really shoved it up your jacksie here, so if you've got any pride maybe a point by point factual response is required?

'OML18 as an investment has everything going for it - proven oil resources - shallow wells'
well quite remarkable for once BS - you actually got one thing right. wonders never cease. as for the rest i'm afraid it's the usual delusional drivel that we've become accustomed to over time. do you really imagine for one moment that Jite Okoloko and Oisin have been negotiating some kind of fantasy finance with not only Afreximbank but also Shell who are part of this syndicated facility for $750m? of course you don't - you just made that up because you're a troll. if what you suggest were true, it would involve a remarkable fraudulent conspiracy involving all the aforementioned parties as well as our nomad and almost certainly martin hughes. no it's time to grow up BS - you've overplayed your hand. and what the heck's all that guff about the nigerian currency and the port harcourt refinery? you haven't been keeping up have you BS? Shell are part of the lending syndicate because what they're really interested in is the take-off deal for all OML18 oil with san leon. that means they buy all our crude off the FSO and ship it to the global market. oh and by the way they pay in bucks not the local stuff. so sorry it's back of the class again BS and, as that's still year 1 kindergarten, possibly a little worrying don't you think?

don't know if you saw my comments on the other board but, to keep it brief here, i reckon things might actually be pretty close now and the slight delay is more to do with the new lender of the $50m wanting to come on board one way or another as a reasonably significant shareholder.

indeed, POORS, why would or should he? being so close to a deal with his back already covered, OF is not above playing games of poker/chess or brinkmanship. at one point the rns makes a point of saying that in the BoD's view the 2 facilities are mutually exclusive although this possibly conflicts with the earlier comments that it has 'delayed utilising the facility as it believes that ADDITIONAL or ALTERNATIVE financing might be available on terms that may be better aligned with the Company's overall strategic and financing objectives.'
so today we've had an update which confirms we currently have a $50m facility in place and that there is likely a better deal, which can be concluded and and available for draw down early in the new year and the market thinks that's bad news? seriously? people also seem to have missed the positivity of the language around completion of midwestern's reorganisation this says that 'the MLPL Loan will be extinguished following the Midwestern Reorganisation'. given how cautious nomads are in the present climate and would naturally be around the negotiated $750m facility, that's hardly conditional language.

Muddy Waters is currently leading a vicious short attack, supported by other short funds, on a british e+p company that is based on deliberate disinformation by a number (10 or so) of trolls posting on various boards and social media including twitter. this has also, remarkably, included an article in well known broadsheet by an associate business editor, who has had a previous inappropriate connection with one of the short funds. the whole attack is clearly orchestrated and almost certainly illegal. so far the attack has failed in its agenda, principally because the company’s data is so strong and this is supported by the two leading hydrocarbons consultancies. also the company is about to announce results from its recent well and all the indications are that it's got a blockbuster. when they announce, anytime now, we will witness an almighty short squeeze. i don't think the san leon trolls are anything like as sophisticated nor capable of mounting this level of attack, even assuming they are short in the first place. i posted the link out of general interest and as a reminder that deliberate posting of false information on a company is not only defamatory but illegal.

interesting piece here about the US Justice Department investigation into Carson Block who runs Muddy Waters, an American short fund for suspected coordinated manipulative trading. as you can see this invovled the use of an FBI search warrant.
https://www.reuters.com/business/finance/federal-prosecutors-probing-short-sellers-wsj-2022-02-16/

for once i reckon Malcy is spot on! truly unbelievable value beckons here. fortune favours the patient. strange how every time the price falls a big buyer moves in at the close, don't you think?

neat post by Philby on the other board:
'Malcy says: It will come as no surprise that due to the complexity of the deal that there has been a further delay in completion. I expect that when it does get closed it will not only transform SLE but shareholders will be on the receiving end of massive returns, the patient will indeed be rewarded, this is no time to bottle out.'

hTTps://www.malcysblog.com/2022/12/flash-blog-genel-san-leon-zephyr-sdx-rockhopper/

i don't have the precise number but, in rough terms, i believe san leon is going to be looking at twice the number of shares in issue with over a four times bigger interest in OML18.

cd27, going by past behaviour we should get an rns tomorrow, even if only noting another extension of time to end December. they would still be within their predicted final quarter

NM? the last rns suggested the deal should complete during the final quarter of 2022 and that the ACOES should be commissioned during the first quarter of 2023. so still a month to go by my calculation

good to see san leon's activity being picked up locally.
https://oilfieldafricareview.com/san-leon-eye-additional-investment-interest-on-oml-18-releases-update-on-midwestern-and-eli/

considering that Jamie Nimmo is associate business editor for the Times, the piece is frankly little better than some of the troll posts on the boards. all insinuation and no detail. so Carson Block rings up his mate on the Times? someone needs to investigate.

https://www.reuters.com/business/finance/federal-prosecutors-probing-short-sellers-wsj-2022-02-16/

i'm now confused. the fake one insinuates that san leon will be taken private by its major shareholders. ignoring for the moment the not inconsiderable problem with that insinuation that there have been many better moments along our journey to do that, if that's what they wanted (which they don't for very obvious reasons, most particularly Tosca), why would anybody in his right mind want to take such a troubled company in such a lawless place private? you see the problem guys - either it's a great company worth taking private or it isn’t. fortunately i don't have the same problem as i'm not in the habit of dissembling on this board. so i and other like-minded shareholders can have our cake and eat it, because we know the company has phenomenal upside and that it's simply absurd to suggest it will be taken private at this stage. you need to remember Martin Hughes has supported this through thick and thin, always in an effort to keep it listed and turn it into a cash machine. sorry about that guys - maybe time to get your stories straight?

to remind - the current target for the RTO and related Eroton transactions is during final quarter this year and the ACOES (including pipeline) is expected to be be operational during the first quarter of next year.

to remind shareholders, we will soon have a completely secure new pipeline. this lies on the bottom of the open waterways running through the OML18 part of the Delta. it will have a state of art fibre optic security system. the type of tapping in theft seen on the existing pipeline will simply no longer be possible. the 'new' san leon will own 50% of the pipeline and 45% of OML18.
https://www.energyvoice.com/oilandgas/africa/ep-africa/427312/nigeria-san-leon-fanning/

great post Sailplane. i think your bit of research here hits the nail on the head on when we might reasonably expect news. but i think they will aim for more clean up here to maximise the oil cut. why do i think that? there is a lot riding on Alkaid-2 results, so they will certainly not be rushing things and they'll want to present the best results possible. so i'm now thinking end of month earliest and possibly even into November. very chilled about that. gla

'I do not think they would be continuing to invest unless they were sure the deal was going ahead, so why is the price still falling?'
Capabilitypete, i agree Martin Hughes continued confidence in us is a highly positive sign. as for the SP, you could say it's been remarkably robust (on or around 40p) in the context of current market conditions, not least oil which has been trading under a hundred bucks for quite a while now. so i'm pretty comfortable at the moment and happy to follow Martin Hughes' lead.

tosca held 73% before ( approx 328m shares) and now 74% ( approx 332m shares). we've always had a small free float.

quite remarkable, sam, how little these guys know about their investments. but of course i'm forgetting they sold at a loss after Poland. and what's all that guff about European refineries? hasn't he worked out yet we sell from the FSO to Shell? surprising to see that Junkie says he had a career in the oil industry. lol maybe a central heating engineer? :-)