Member Info for Alaric

the start of the new year heralds a joyous outlook for san leon. already in superb financial health, to remind we have the following much awaited news to look forward to on the immediate horizon : 1) commissioning of the ACOES and with it commencement of oil field revenues for the interest holders in OML18 ; and 2) financial close of our agreement to acquire 15% (with an option for a further 15%) in the Oza Field. with the company barely valued above cash and secured debt (we still have ~$100m due from Jite) and a dividend strategy to deliver 50% of free cashflow to shareholders, investors now need to do the maths on the initiation of our multiple revenue streams. that and on what they think our 10.5 % interest in OML18 will be worth? there and i haven't even mentioned Barryroe - HNY all!

interesting analysis bluerill, thanks. i was thinking along similar lines regarding that sentence in the RNS. seems clear anyway that Oisin's relationship with Martin Hughes remains unaffected by this, so why not have another go at a similar deal in the new year? makes complete sense. for me the overarching maths on San Leon remains utterly compelling and with pipeline and Oza news expected early in the new year it is difficult to see how a classic short squeeze can be avoided.

spot on dusterinmong. your simple business logic will be too complex for some on this board but no need to worry about them, there's one born every minute. exciting newsflow coming up very soon as well, so i don't easily see our historic gravitational forces holding down the SP for much longer now, particularly as regular dividend payments are demonstrated as part of the strategy, as promised some time ago.

rns just now on Oza. as is the way of quite complex multiparty financings with various tranches of debt and equity, deadlines tend to get observed in the breach more than the observance. nonetheless a pretty upbeat tone to the announcement, i thought. as they've already announced,this is a done deal - they're just ploughing through the cps now. roll on new year.

we can enjoy a quiet weekend (with the trolls still suspended for abuse) reflecting on the news to come. to remind, next up should be satisfaction of the cps on the Oza deal. the new deadline is 14th December, so we might be hearing next week. fab deal for us on loan to own terms, which could well see us taking 30% of the field. and i can't wait to find out which major oil company is also involved in the financing.

hxxps://oilprice.com/Energy/Energy-General/Bank-Of-America-Sees-60-Oil-Next-Summer.html

good to see Brent over 48 bucks again. neat timing for all our assets

the problem we have here, mclean, is one of rational analysis. in his '21 lessons for the 21st century ' yuval noah harari identifies a certain type of human being, whose emotions and heuristics would have been more suitable for life in the stone age than the silicon one. i feel sure he must have met our fake friend along the way!

ah junkie there you are - btw when you have a mo, please talk us through your 'analysis' of the Sun Trust case and precisely why you thought it was so terminal for San Leon? While you're about it you might talk us through your 'analysis' of the Avobone case and why you thought it was so terminal for San Leon? Predictably both these supposed endgame scenarios (as portrayed by you and other virulent trolls) failed to even show on the radar screen let alone ever take any substantive form. Keep it brief or, if in hindsight you realise you just got it badly wrong, perhaps acknowledge that with a humble apology to readers of this board?

seems some on this board are not up to speed with new high tech security systems for oil pipelines. one of the problems with the NCTL, aside from being very old and leaky, is that much of it is laid through dense mangrove swamp with poor optics and no integrated monitoring system. it looks as if the majority of the new system is laid in fairly deep and wide open water channels before reaching the open sea, which permit access for fast and armed security launches within minutes of any alarm. a recent trend in the field of pipeline monitoring has been the utilisation of an optical fibre based distributed acoustic sensing (DAS) technology, for the purpose of security monitoring of buried pipelines. partly developed by BP, such systems have proved highly effective in practice.

thats's correct , mclean, and just for clarity the new dedicated pipeline (in which we now have an 10% equity stake) doesn't follow nembe creek to the bonny island terminal. that's rather the point of it - it's dedicated to be used as the jv partners choose, clearly for OML18 use but also commercially for others who wish to cut oilfield losses. and it exports via our dedicated FSO ( floating storage and offloading) anchored offshore the niger delta. we are now very close to commissioning the whole ACOES system , an event which will be transformative for the export of OML18 oil.

you know things are getting desperate, when junkie shows up. he probably reckons enough water has gone under the bridge since his last two domesday predictions for us ( Avobone & Sun Trust) failed to materialise. here's my prediction for him: he ends up in frenchman's creek in a sieve without a paddle. plus ça change eh?

am afraid mclean, this board remains infested by these few last remaining idiots. just how sad do you have to be to not hold any interest here and keep posting nonsense? there used to be a nutter like them on the Advfn board but he's long gone now.

... meant to add the final step was i got a letter confirming they would pay direct to my account and they then paid within a couple of weeks.

and yep should be the final step, if all other ducks in a row.

yeah sure, received direct bank transfer to current account in GBP. that's why they ask for your IBAN on the form

apologies Redeye for non response but see that G1lo has filled the gap. The V2a form is just a bit of Irish red tape and literally a box for them to tick. Why they can't print it off themselves is beyond me, as they have all they need to know with the HMRC certificate of residence you sent them. My impression of the Irish tax authorities is that they are more bureaucratic and anachronistic in paper terms than our Govt gateway. Let's hope Oisin carries out his threat to move jurisdiction -perhaps post brexit, UK corporate domicile will be more attractive than Ireland? By the way I posted all my stuff hard copy to: DWT Unit, Office of the Revenue Commissioners, Government Offices, St. Conlon's Road, Nenagh, Co. Tipperary, E45 T611, Ireland. Good luck.

It is a tedious process for sure but they do pay out eventually. Hopefully you will get yours soon now. They certainly know about San Leon!

V2A Form

https://www.revenue.ie/en/companies-and-charities/documents/dwt/dwt-non-res-v2a.pdf

Thanks Redeye. Have you received a letter yet from the Irish Revenue Commissioners confirming that the repayment will be paid directly to the account notified to them? That precedes actual payment.
Am not sure if this is the same as you describe but I also filed form V2a from the Irish Tax office (it's art 4 of the tax treaty btw).