Member Info for Alaric

omg BS have you just spotted the elephant in the room? if OML18 doesn't flow there won't be any oilfield revenues!! and even though it's a world class oil field and they've just spent a shed load building a new dedicated pipeline to deliver the oil to an eager market...you know what you should do BS? write to Afreximbank, copy Martin Hughes, Jite Okoloko and Oisin Fanning and tell them what you've discovered in your expert opinion and that they've all missed in various due diligence. then you should book yourself into an ayurvedic retreat in the foothills of the Himalayas for a complete rest. you owe it to yourself and one imagines that Afreximbank will be so pleased that you saved them from flushing $750m down the toilet that they'll offer to pay for all your treatments. btw remember to chant Om as it will help bring out your inner self and anyway completes the look as it were

last reported price of Bonny Light crude was $86.55. when Oisin put San Leon into OML18 in 2016, it was trading around 26 bucks a barrel. just do the math

thanks 36800 but am afraid you're wasting your breath trying to reason. his sole purpose is to disrupt. he's a former big time loser in this share going back to the Polish days and desperately wants the same for everyone. he's told us he's not invested here and i suspect for the first time he's seriously worried about that. his best hope is that he can create enough doubt on these boards to engineer a negative market response when we're finally trading again. good luck to him - he'll need it.

indeed sam they surely have but let's face it - he's been hitting a few lows of late even by his own vertically challenged standards. and some bizarre reactions from the trolls with new names all of a sudden out of left field - a sure sign of paranoia. they just need to focus on the business case (ok that involves facts, so it wiil be challenging for them). mind never been called a super hero ninja before - quite neat eh?

redeye did you by any chance accidentally hit the green 'view' button? we get 2 options thread view and simple chronological view, which I prefer

they are indeed a highly impressive group, 36800, not least of course Jite Okoloko himself and San Leon’s chairman and former head of Shell Nigeria Mutiu Sunmonu. great post of yours btw, thanks.

from the rns this morning: 'The Nordic Calista #3 rig is on location at the Talitha #A well where it will complete works to prepare the well for testing, prior to being mobilised to the Theta West #1 location for the spudding of that well. Given that Talitha #A is already drilled and cased, a smaller coiled tubing unit will be utilised for testing of that well, once preparation works have been completed with the larger rig. The ice road to Theta West is still under construction, with the approximately one mile still to be fortified and completed. Following this, the pad will be constructed prior to the move of the rig.'

ah it's just a video of preparation work so sorry for false alarm! all looks good though

looks like something livestreaming is on the move to Theta West in just over an hour.
https://youtu.be/kU82wIP9MQg

sure is a lot of FCF and a lot of FCF means big dividends for the foreseeable

excellent post by rimau1 on Advfn this morning : '... transaction expected to complete by the end of Feb per the update RNS issued on 24/12. Not long now until we take an owner/operator majority stake in OML18 and the pipeline. 1bn of 2P resources is a lot of FCF at $70-80 a barrel….I only now appreciate the masterstroke of Eroton significantly reducing production during H1. Once the pipeline is operational during Q1 oil loss reduces overnight from 25-30% to under 10%'

fascinating. thanks Sailplane!

'the ‘fake one’... does not warrant mention in this thread IMO... his nonsense can, I believe, be seen clearly as just that.' great insights from Naibob here in open discussion on this board within the last 24 hours. shows you what can happen with some courage, so please do speak out with your thoughts on San Leon and its business case.

and btw u2 Naibob. no need to reply.

and caniscorpus is also a fake - you agree Naibob?

maybe i didn't express myself clearly enough, Naibob, but i'm not out for approbation of my honourable intentions. people who have read me over time can decide for themselves. so sorry to disappoint but no introspection about 'outbursts' or otherwise. CJ is a self admitted non holder here with a long record of trolling on this board and as for poor BS who's to know? they both have strange ideas and keep bad company. talking of which i note you didn't mention the fake one - anything i need to be aware of? btw the other board is much cleaned up now and better than this one but i think you already know that.

trouble is Naibob, you possibly don't remember when this board and the other one were completely dominated by troll posting. i don't recall seeing your name before (i make no point about that) but i and a few others were successful in cleaning up the other board (which had btw become completely toxic) and, whilst this board is better, it remains work in progress. a bit vigilante i suppose but believe me my intention is to help create a forum where there is proper discussion pro and ante. i am obviously pro and back that up with my money and stated reasoning and, if allowed, free discussion of that. as you can see, the trolls are utterly cynical barely making any pretence to cover their true aims. so while some may occasionally get caught in the crossfire unintentionally, that won't i'm afraid stop me. people should speak up more as it gets quite lonely at times but i have easily enough support here to know that the effort is worthwhile. yer pays yer money...

'While I appreciate the efforts of those who tried to help me on this board, I'm afraid I still do not understand this over complex company re-organisation.'
unfortunately caniscorpus you failed to mention your appreciation before to what were consummate answers. that you still fail to comprehend them, in the context of what is and will continue to be quite a complex structure operating in Nigeria and listed on AIM (for now anyway), is more an indication that you shouldn't be invested here in the first place than your veiled insinuation that there might be something afoot with Eroton (whom you may have read just completed a $750m financing with Afreximbank). another long sentence i know and it may be that you are just collateral damage in a troll infested board but there is low tolerance here for people who ask dumbass questions, particularly when they don't acknowledge complete responses posted by their betters

indeed, this shower share one major attribute - they have more sore toes between them than the now extinct greater sore-toed millipede (mind quite good fun going out of one's way to tread on them :-)). hopefully most here now understand the AIM rules on reverse takeover that require trading in San Leon shares to be suspended. if this RTO happens as I believe it will, it will be the single most value accretive event for the company since Oisin put us into OML18 with huge support from Martin Hughes in 2016. aside from anything else it will imo coincide with the opening of the new dedicated ACOES at a time when the likes of JP Morgan and Goldmans are predicting an era of $100++ oil. it is little wonder the trolls are desperately insinuating negatively at every turn - i'd be worried in their shoes ha ha.

cometh the hour...
'Further to the announcement on 1 December 2021, San Leon has agreed with MLPL, Midwestern and Martwestern (as defined below) to a further extension of the Conditional Payment Waiver to 31 January 2022 or, if sooner, the termination of discussions or the signing of an agreement to effect the Potential Transaction...
As at 31 December 2021, the Extended Conditional Payment Waiver relates to US$99.3 million, being a principal amount due of US$82.2 million and total accrued interest due of US$17.1 million, which will be payable 90 days after such expiry, save for, inter alia, if there is an event of default.'