Member Info for Alaric

Hardly 36800, i'm just bored correcting your many inaccuracies and doing the research for you guys. btw cut and post links from the corrupt nigerian press isn't research. that's all.

Like to have help you 36800 but fear you suffer from Dunning- Kruger which as i'm sure you know makes people over estimate their abilities. this was discovered after two criminals tried to rob a bank after spraying lemon juice on their faces believing this made them invisible to the security cameras. need i say more?

36800 a few points arise in your post mostly by way of correction. first NNPC hasn’t taken over Eroton just the operatorship of OML18. the reason that was a smart move for the licence holders is it removes the threat manufactured by the trolls that they would lose their interests in the licence completely. further it puts responsibility on NNPC to operate the licence efficiently, which they can do best by listening to the advice of the other members of the JOA. second you are under the mistaken impression that NNPC could prove claims in a liquidation of Midwestern. that is unlikely since NNPC aren't creditors in this joint venture but debtors to the tune quite a few millions of naira and they don’t hold any security on the licence. moreover Midwestern are unlikely to go into liquidation any time soon since if they were up against it they could always sell a piece of this very valuable asset. all of which brings us neatly back to the unavoidable if unsavoury fact for the trolls that our security on OML18 is watertight. last but not least i'm always wary of people who address me 'dear fellow' which sounds a bit like Herbert Pocket in Great Expectations:-) nobody lends a couple of hundred million bucks without security! so sorry to say 36800 but you're wrong again.

BS, charming as ever! you don't claim against OML18 to enforce the security but against the holder of the loan notes Midwestern. your mate mdumba seems to think this is Millennium but they have nothing to do with OML18. they own the the OZA field. he's also confused about the difference between ownership an operatorship, when he talks about requirements for regulatory approval. he forgets that NNPC will remain the the operator of OML18. readers will recall that they took over the operatorship from Eroton in a clever move by us and Midwestern last year. so who's being vacuous now BS?

I'm sure that contract wil have loads of provisions for default by the holder of the loan notes including ratcheting of interest but the big one is the security on OML18, a vast and proven hydrocarbons producer and as such more than enough to cover our loan notes. the key is the new pipeline which is where we come in. this going to happen and all the background noise from the trolls won't be able to stop it. period

Mdumba your fear 'but are there major question marks over MLPL's ability to make payment or would demand be the straw that breaks the camel's back?' ignores the simple fact that the loan notes are secured on OML18 such that if ultimately they default we get a bigger share of the licence. clearly san leon won't enforce until absolutely necessary.

That's easy 36800. Oisin had a deal with Martin to acquire a pile of his shares as reported accurately by the nomad. he couldn’t raise the funds to close so was technically in breach but Martin was never going to sue so that was that. i don't see what the big deal is that you trolls are trying to make of it? period.

We can disagree about plausibility 36800 but you fail to address the principal point which is the nomad signing off on an rns which misrepresented the situation to do with the funds. quite clearly they have been sent and you display your ignorance concerning US regulations on transfer of funds to foreign jurisdictions. i don't claim any expertise here but have spoken with people who have experience. apparently it's virtually impossible to get any information out of the authorities once an investigation is underway. moreover these investigations can take months. i think Bluerill's guess isn't too far wide of the mark but i can see how it doesn't suit the trolls' agendas.

More garbage from G1lo. do you really think the nomad would let san leon lie in an rns about Tram having transferred the funds? more fool you if you do. some while ago bluerill gave a perfectly plausible explanation for the funds not arriving. but trolls just aren't interested in facts as they don’t suit their agenda :-)

Tiresome G1lo. i provided a perfectly plausible explanation recently about the problem with the transfer of the funds from TRAM. this likely has everything to do with the US regulatory framework on transferring funds to a foreign jurisdiction and absolutely nothing to do with the money being lost, which is an absurd suggestion. readers of this board will judge who's telling porkies :-)

'but, let’s imagine that the deal hasn’t ‘fallen through’ but has encountered renegotiations around terms for example does that oblige SLE, and by default it’s nomad, to inform us as such? Probably not I would suggest'

nice try Naibob but you're wrong again. what you suggest would mean the money hasn’t been sent as the terms are being renegotiated in which circumstances Oisin would know that he'd have to issue an rns which in turn as you know has to be signed off by the nomad. you're clutching at straws again and btw no-one is taken in by your 'hope to be proved wrong' bs.

Good question quelfromage and you're absolutely correct of course. if the deal had fallen through then Oisin would know he would have to issue an rns. if in the unlikely event he imagined he could duck it the nomad wouldn't let him period. a far more likely explanation is that transferring funds from the US to foreign jurisdictions is pretty regulated. so when TRAM and us both say the funds have been sent, both parties are telling the truth. i understand that regulatory clearance in the US can take some time. that explanation doesn't suit the trolls' agendas so they take the opportunity for a cheap and ineffective pop at Oisin. hopefully even inexperienced readers are not taken in.

'The money has either been sent or not. It has obviously not.' well g1lo i've read some garbage on this board over time and this post is up there with the rest. the suggestion you put forward involves the bod lying and then the nomad signing the lie off. it doesn’t seem like you have any experience or knowledge of such things when you display your ignorance so publicly. either that or you were born cretinous? you will know which.

Beyond bizarre.

'You know all this----because I told you not long ago----so why have you gone back three steps and started all your nonsense again.' because he's either dim-witted or a troll. take your pick.

Sorry to have to correct you again BS but we won't be selling to nigerian refineries and it won’t be for naira. Shell is our off-taker and they will be paying in us dollars. you surely wouldn’t want the readership of this board to be misled?

That's worped thinking i'm afraid gffy. comparing spanners to international bank transfers just doesn't do it as i think you know. and that's particularly true when the party making the transfer is US, because they have very stringent regs. so you see gffy not really the same thing at all.

As per Junkie you fail to address the point in issue which was how you lied about San Leon's duty to publish an rns about the relevance or otherwise about court proceedings that ELI might be involved in. as you know the company has no such obligation. you also failed to address my suggestion that instead of lying to this board you should focus on the facts, even if as we all know that's anathema to you. that's all ;-)

Wrong again Junkie. until the ELI deal closes we own just 15% of ELI and have a single rep on their board. as such there is no obligation on us to report anything about the company good bad or indifferent. rather than invent lies about us, i suggest you focus (for the sake of variety) on some facts eg the recent news about TRAM's funding package, which on its face is fantastic for us. i guess the problem for you is it's a fact and you're patently allergic to them :-)

As you say sam cr8p. we sold the bulk of our assets to Ardlaun in 2019. ask yourself do you think it's likely that we would retain contingent liability under such a deal? or more likely that they saw our recent fund raise and thought they would would try their luck? small beer anyway. it looks like Afake is getting pretty desperate now if he's scraping the barrel of the Irish media :-)