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the rns reads very well indeed and shareholders should take comfort from it.
'...In order to acquire additional interests in OML 18 and take its economic interest to 45% of OML 18, Eroton proposes to enter into new senior secured reserve-based lending facilities totaling US$750 million (the "New Eroton Debt Facilities"), to be provided to Eroton by a lending consortium headed by Afreximbank. Whilst this process has advanced it remains a complex procedure with several interested parties and, as a result, additional time is needed to finalise the loan agreements and ancillary documentation. Consequently the condition relating to the New Eroton Debt Facilities, which had been due to be finalised by 31 August 2022, has now been extended to 30 September 2022 by agreement with Midwestern. Aside from the extension of timing, the structure of the New Eroton Debt Facilities remains in accordance with the description set out in the Admission Document.
The board of San Leon remains confident that the Proposed Transactions will complete by or during the final quarter of this year, as originally set out in the Admission Document.'
i'll take that as a no, BS. no examples provided by you of my alleged 'uninformed comments' or of any 'illegality'. why am i not surprised? maybe though you can explain the relevance of Nigeria's refining capability to San Leon’s investment case? to remind they will be pushing all the (unrefined) oil from OML18 through the FSO to their off-taker Shell, who will ship it to global markets. so Nigerian refineries have nothing to do with the thing. just more disingenuous disinformation, it would seem, from our now sole remaining board troll.
'your consistent relatively uninformed comments over the years do make me think you have more in this chat share game than is legally allowed.' BS you will need, now having made these accusations, to specify both 'uninformed comments' and what illegality. think carefully before and how you answer. it's kind of put up or shut up time, so no pressure.
always the snide dig BS. the problem is you give yourself away. referring to me and sam as 'samalarik' is a bit of boo-boo. and to say you've been reading sam's posts 'over the years', when i see he's only been a member since 2021, is most telling. don't you think so ct? it's fair to say you've been on trollwatch for the last couple of years, so we'll see how it goes from here.
https://www.proactiveinvestors.co.uk/LON:SLE/San-Leon-Energy-PLC/rns/1181222
well CJ, quite a bit to deal with here. you flatter yourself if you imagine your utterances are worthy of rage though. pity might be closer to the mark. first things first. you have told this board that you no longer hold stock in San Leon, having sold at a significant loss after the collapse of their business in Poland. fair enough i suppose, although to the casual observer you must admit it's a bit weird all these years on to be attacking San Leon’s Nigerian business, when that was irrelevant to your own investment decision and you're no longer even a shareholder? you tell us you worked in oil and in Nigeria and you claim to have some empathy with Nigerians. you appear to have no problem though in quoting your board friend, Afamefuna, on his research on corruption in Nigeria, despite his showing no compunction in faking west african pidgin as his style of communication with this board. i wonder if you have ever imagined just how insulting that is to genuine West African people who read our board? no? you were correct in reporting that David Cameron observed that Nigeria was 'fantastically corrupt'. he was speaking with the Queen and the Archbishop of Canterbury, quite inappropriately imo for a PM on the occasion of the UK hosting a conference on anti-corruption. apparently Justin Welby had to correct him by saying that Buhari wasn't corrupt and was trying very hard to sort the problem. when Buhari was approached the following day by the BBC, he looked disappointed saying that everyone knew his country had a problem but they needed help from the UK in repatriating the billions of dollars laundered here principally in real estate in London. sadly no response from Cameron, who i'm afraid looked like the t0sser he always was. you need to be careful throwing around glib accusations of corruption, as they have a habit of coming back and biting you on the btm, as we've found out only too recently with the vast wealth invested here by corrupt Russians. i think most San Leon investors have got their heads round this issue and have taken a pragmatic view. which brings us neatly back to you CJ and what you're really about here?
delighted if you're a shareholder here 36800 but i should point out i don't advise you, so dyor. i try to pass intelligent comment on what i see here. if people find that helpful, that's great. you will have noticed, i also deal with the trolls who have habitually plagued the san leon boards over time. many have been banned now.
indeed redeyemines and this also means that, as the off-taker, Shell are participating in the syndicated facility of $750m led by Afreximbank. given Shell were the previous operator of OML18, you might think that's a reasonable vote of confidence in this licence's potential..
hilarious BS, just as i invite some proper discussion of Simon Thompson's factually based article, you go and lob another ad hominem bomb at me! irony clearly is not your strong suit. i guess it's difficult for you guys when an informed and respected researcher like Simon Thompson points out the bleeding obvious about san leon's investment case. but you never seem to get how stupid you look when you consistently fail to address any of the facts. i've told you before it's not cool to mimic the fake one.
'More losers than winners…… something to think about'. not really, in fact your post has about as much intellectual stimulation as a pea. we have harka to thank today for posting extracts from Simon Thompson's highly stimulating piece in the Investors Chronicle this week, which you fail to mention. am i surprised about that? not in the least but then you're not about food for thought here are you?
well there you have it - the choice is Simon Thompson of Investors Chronicle or Eadwig a stock loser. he has said so many goodbyes here but can't seem to resist coming back. shame he can't get his facts straight first, as i have never denied the pipeline losses (why would i?) and have always been a big advocate of the new pipeline, sharing Simon Thompson's view of its 'gamechanger' status. on balance i recommend Simon Thompson an experienced stock commentator, who writes for a respected magazine over Eadwig a bitter stock loser. yer pays yer money...
do we think Afailure got bullied at school? he seems unduly sensitive about what he perceives as bully boys, so the right 'type' to attract that kind of deeply unfair attention. actually i feel quite sorry for him. also seems obsessional about corruption. not a healthy sign...
BS, rest assured i don't miss points where you're concerned :-) i worked you out a long time ago. if i may say so, the problem seems to be you think it's cool to mimic Afailure. it isn't and the universe hasn't yet been created where it is. as you will soon see. mene mene tekel upharsin. (it's aramaic btw)
'NNPC shareholding in OML18 - 51% - is now held by NNPC Ltd - I wonder how all that is going to work out?' well more misleading nonsense from the resident board fake news bureau. NNPC has always held majority interests in the OMLs (i think it has 55% of OML18), so no change there. what we're seeing here is the continuation of Buhari's policy of transforming Nigeria's oil and gas industry. following the passing of the Petroleum Industry Act last year, which created the right context to attract domestic and international investment, Buhari now tackles the beast that NNPC had become, with its endemic corruption. you have to give Buhari his due, as they said it couldn’t be done. obviously good news for san leon and might even lead now to NNPC selling some of its holding in OML18 to us.