Member Info for Alaric

abs correct, Sam, a couple of bulletin board trolls wrecked on the bitter rocks of their disappointment and not a single fact between them. 9p indeed - probably the worst ever SP prediction made on a bulletin board! given us all a few laughs along the way but, as comedy double acts go, they're not exactly Harry and Paul.

how very worrying for you Fishy. all that pent up frustration following San Leon for what 7 years or so without comment and then black thursday 15 june - kaboom baby - you blow a fuse and post 4 times in one day? if i didn't know any better (which btw i do), i would say you were having a breakdown mate

'All seems very fishy to me. I have been invested in this company for many years and it smacks of another cover up of things which turn out to be figments of our imagination even though we were told they were happening by the CEO!' yeah sure
Fishabilitypete - what handle did you use before for your posting?

encouraging news from Decklar. by way of reminder for those who for whatever reason like to stir trouble, awaiting satisfaction of conditions precedent is just that: it is not a unilateral option to walk away from a signed contract

to remind, Zac Phillips wrote a piece for Proactive in April 2021 under the headline 'OML 18 A Springboard for Greater Growth'. He based his valuation on 1. our 10.58% interest in OML18 2. our 10% interest in ELI and 3. our 4 5% npi in Barryroe ( Oza not included yet) some interesting extracts :
'San Leon Energy PLC's (LON:SLE) 2016 acquisition of an interest in OML 18 in Nigeria is starting to generate value for shareholders and provides not only a strong presence in a highly prospective region but also the liquidity with which it can execute a growth strategy optimised in its favour. We have undertaken a sum of the parts (SOP) valuation, which we have “sense checked” against Proactive's valuation estimates for the principal assets. We estimate the fair value to be between US$459 — 743mln (76 — 121p a share)... however it is the execution of the next stage that we see as the significant catalyst in the revaluation of the company.

Once the programme is initiated, of which the installation of a floating storage and offloading (FSO) facility is an integral part, we believe that the market value's discount to its underlying asset base will start to unwind, and the share price will start to trend towards the assets' fair value range'

Pizza do you think Oisin Fanning with his 9.5m shares in the company is more interested in loads of wonga or a big dilution? if bizarrely he got the answer to that wrong, do you think Tosca with over 72% of San Leon might have something to say?

most encouraging indeed, Sam - getting to agreed heads of terms on the rto in such short order is excellent news and bodes well for completion

with Big Oil being hit by the ESG agenda on climate change and IEA, OPEC, Goldmans etc etc projecting oil demand growth of between 10 and 15m barrels a day from 2018 levels, at least to 2040, the world will have to find other sources of supply. that'll be us then - do the math :-)
https://oilprice.com/Energy/Energy-General/Its-Too-Late-To-Avoid-A-Major-Oil-Supply-Crisis.html

sorry for the double posting - keeps happening to me!

ha ha redeye - great minds...?
Pizza - we know now this has been bubbling over 3 years, so they at least know the ground they have to cover. my guess is, particularly with today's announcement (see my earlier comments), that this will be sooner than later. if they can't get this done before the end of this year (and i actually think sooner than that), then there's a sticking point. my starting point is the conditional waiver window they've given, although that's quite ambitious - maybe heads of terms?

ha ha redeye - great minds...?
Pizza - we know now this has been bubbling over 3 years, so they at least know the ground they have to cover. my guess is, particularly with today's announcement (see my earlier comments), that this will be sooner than later. if they can't get this done before the end of this year (and i actually think sooner than that), then there's a sticking point. my starting point is the conditional waiver window they've given, although maybe that's quite ambitious?

pleasing rns this morning. i like the fact there is a pretty short time horizon on the conditional waiver, indicating a window for completion of the rto negotiations (and maybe also for commissioning the new pipeline). cashing in the $32m of the loan notes for a bigger share in the new project, if the rto happens, makes complete sense to me. i think they've pitched this right and it would still of course leave $66m outstanding. i'm fascinated to see what, if anything, happens to the Sahara holding in OML18. it would make sense to take them out at this stage and then see whether NNPC want to reduce their holding, as has been mooted previously. i repeat my view that this is a most propitious time for regional medium players in the Niger Delta, with the world looking short of oil, a rising oil price and the Nigerian government looking to encourage foreign investment. what better place to start than OML18 - a world class producing oilfield, which the operator and us have become expert in over the last 5 years and one which is about to get its own brand new export system?

for the avoidance of doubt this bill was presented to the Nigerian Parliament by President Buhari. it is his baby and its passing represents a personal coup for him.
other recent bits of nonsense you may have seen on this board recently: 1) '9p' 2) 'no one want stinky oil anymore' :-)

btw if anyone is interested in what actual West African pidgin english sounds like (compared to the phony version you may occasionally see on this board), the link below takes you to the BBC Pidgin service's coverage of the recent passing of the new petroleum law
https://www.bbc.com/pidgin/world-57689625

btw if anyone is interested in what actual West African pidgin english sounds like (compared to the phony version you may occasionally see on this board), the link below takes you to the BBC Pidgin service's coverage of the recent passing of the new petroleum law
https://www.bbc.com/pidgin/world-57689625

indeed qf, as i believe a few of us have said over time, oil demand is unlikely to show any sign of abating any time soon. with investment in exploration by the majors reducing (ESG agenda etc) and reserves falling, the upward pressure on the oil price appears now to be relentless. this is why Trafigura and other major players are calling $100 oil. for countries like Nigeria, which are less concerned by the climate aspects of ESG, this is a boon as indeed it is for existing regional oil players like San Leon and its Nigerian partner Jite Okoloko. the Nigerian government clearly wants to encourage more investment by the likes of us. this will be a significant driver in the rto negotiations imo.

'Why would you not talk about Nigeria??
This is the SLE board'.
sorry bout this, arsenal, looks like i brought in a virus from another board!

usual dissimulation from you cbaron. i couldn't give a monkey's about petty or otherwise squabbles between posters on the board. you know perfectly well i'm talking about libels against directors such as the recent (and subsequently deleted) post stating that GB founders get paid by cheque to participate in criminal action against the company.

your thanks are appreciated, star. pleased to have been able to answer your question and point out some of your misconceptions :-)

star 687 'I wonder if anyone cite an Aim company suing a BB poster as per these type of discussion boards?'
only since you ask, the most cited case is RRR v Gary Carp. and just guess which internet forum company he used?
https://harassmentlawyer.co.uk/online-harassment-case-study/harassment-of-a-company-director