Member Info for Alaric

yep them damned facts do tend to choke a spleen venting.

well picked up, mclean. i guess we assume the increased oil figure is down to the 3 new wells drilled. so the prospect of 11 more next year heralds exciting times indeed.

yep idiot nails it. ( hidden plus : don't think you can be accused of racist abuse)

'-Is that cash mountain destined for other things----------------certainly looks that way, ----and with oil at a low and many companies on their knees, there must be some wonderful opportunities opening up.'

picking up on yours and bluerill's insightful observations this morning, redeyemines, i thought these were supported by Oisin' s choice of words. he talks of the company being 'in a very strong position' and 'armed' with 'significant cash' and of confidently looking forward to updating us on the company's 'growth'. in my view, these were not passive words of self-congratulation for defensive achievement thus far but the language of a commander finally able to press home his advantage on the attack. this represents a quite remarkable turn around in fortunes (albeit one which many of us have predicted now over time), when we look back at the days of Avobone and Sun Trust etc. i look forward to further updates now with considerable relish.

definitely worth rereading our ceo's extremely confident and unqualified comment this morning

"The Company is in a very strong position armed with such significant cash. We believe that this is a situation that will continue. San Leon has around US$100 million of additional Loan Notes and interest receipts expected by the end of next year, as well as income from the provision of our technical services to Eroton as operator of OML 18. In addition, the Company expects to receive dividends from its indirect shareholding in Eroton in due course. I look forward with confidence to updating shareholders on the Company's growth and progress."

heh mclean, hilariously looks as if your 'Afake =Afool' observation was spot on. just to remind us of the quality of nigeria sid's visionary status just 5 days ago : 'muckspreader my 9p gess is only week old plenty time yet to see if right or rong.' oops...

warning: enthusiastic 'ramp' coming up. unmitigated positives all round here for me. at a time when the hydrocarbons world is hurting ( small caps particularly), here we are with zero debt, $74m in the bank, at least $10m more to come before year end, another $100m secured due next year and our 10% interest in a world class producing oilfield totally intact and valued at less than zero in our SP!!? and with pipeline news imminent and first service revenues now coming through. is that ramping? well they are the simple facts, so all the grown-ups at least can make make up their own minds. btw - just how many opportunities like these to the pound on AIM right now?

before they get completely buried under the midden of troll spew on this board, i commend to anyone who hasn't yet read them to scroll down to bluerill's last few posts. as the company finally stands on the threshold of realisation for its principal asset in the Niger Delta, with commissioning of the new export pipeline imminent, it is good to be reminded how we stand in these difficult times, measured against our sector peer group. we are fortunate to have such an acute observer of this market sector write on our board. and for a man who posts so judiciously, there is a delicious irony in the fact that we might not have had the benefit of quite so many of his insights, were it not for his talent in despatching the troll trash who infest our bulletin boards through the easy flourish of his pen. so it is in no small way that they have, albeit inadvertently, contributed to the life of the board. quite why they return, though, so often to have their many inadequacies so cruelly and so publically exposed is anybody's guess. it's as if they can't help themselves.

heh Marty, think you may need to tell your twin kid ( you know the ever so slightly strange 'Nigerian' one) to watch his language. not for the first time when rushed, he drops his fake pidgin English and reverts to English. a bit of a giveaway if you know what i mean?

ah there you are again Stephen, it's been a while. you come in to join Marty and his rather strange 'Nigerian' twin brother on this discussion supposedly about the management's response to the current global crisis, have you?
how's your new house coming on btw? you remember - the one you sold your holding in San Leon for in October last year to help buy. Heh anyway 'Peace and Love Yall' as Stephen 54321 would say.

woah there.. did one just fly over?
whatever, the not so subtle point that got missed (deliberately and disingenuously) is that racism is a criminal offence in the UK and falsely accusing someone of it with absolutely no substantiation in writing is libel. period.

... 'Ask our Nigerian friend. Let's move on to.. '
err, i was actually asking you matey, since you made the racism allegation, not your 'Nigerian friend' ( who he btw? you cannot mean Afake!? what in heaven's name makes you think he's Nigerian? OMG you're even dumber than i had possibly imagined).
anyway i will take your flakey response to mean your racism allegation is dropped now. and don't bother belatedly apologising for your badly misjudged slur, as i very much doubt it would be sincere. ( and take a free tip from an old pro - don't ever back out of a position you have taken with 'Let's move on' now to the next position. Why? because you get laughed out of court. jerk)

racist... xenophobic? how so? answers on a pc will do. dumbassaphobic, however, i will put my hand up to.

sadly not bluerill but, even if there were, he wouldn't make the grade (basic level of professional competence still required). so maybe we just have to turn down the volume control to the point where the background noise can be masked. i wonder what the equivalent of white noise is for bulletin boards because that's what we need for jumped up little ****es like pop-up.

jeez marty you're like a whining brat and you don't half write some bilge. suggest you stfu to avoid further humbling admonishments from the pen of bluerill. necessary corrections to your stuff: 1.oil appears now to be on a recovery path, so not 'collapsed' ( ditto our SP up over 50% in a week) 2. OML18 is incredibly cheap to produce and Bonny Light typically trades at a premium to both WTI and Brent 3. so remains profitable at these levels and anyway Eroton will have to maintain sufficient hedging to protect its RBL account 4. we have 10s of millions of $ in the bank which makes us virtually unique in AIM oilies 5. so no liquidity or solvency issues during these exigent times 6. OML18 's rising production will shortly be exported securely through the new ACOES, thereby eliminating pipeline losses.
While serious investors await an update on the ACOES, it would help if there was a reduction in unnecessary background noise on this board to allow informed discussion to take place without irrelevant interruption.

couldn't agree more, bluerill. these regulations are pretty imprecise, so some jobsworth here has seemingly gone for this 'requirement'. what a complete waste of space. If the AIM regs are supposed to protect investors following the 2008 crisis, they've missed by a military mile here..

i wasn't going to bother commenting (it's tiresome dealing with these people) but you're absolutely correct to do so, bluerill. he seems intent on demonstrating just what a jerk he is. in that gauche manner he has made his own on this board, i guess he is tries to make some kind of smartxrse point. what that point might be though, god alone knows. he suffers a worse destitution - that of the soul.

'Alaric, who implied that the FSO and related costs were a waste of funds when he stated that pipe losses were entirely immaterial to operations'
absolute nonsense, as anyone who reads my posts and is literate knows. ( i may have suggested that pipeline losses are immaterial to our value looking forward. that's because of the ACOES, stupid) as i keep saying, you dimwits struggle with facts.

as i said to your cerebrally challenged friend marty a couple of weeks ago, 'a trained chimpanzee from the pg tips advert can read the SP and go round chanting ' wur all doomed'. all very comic but hardly enlightening, i'm afraid, just the usual gibberish. if you blockheads want to get that mark up from a D minus, you will actually need first to engage on the facts. i imagine that will be beyond you.'...sorry to repeat my earlier comment but what's changed? very happy as ever to discuss on the merits of the facts but I can read the SP myself.

this latest news on the prospective completion of the ACOES has come as a terrible shock to the board trolls, who seem to be taking it far worse than might reasonably have been expected. clearly that's because it will at a stroke resolve the losses issue from the NCTL (which then becomes redundant for OML18). and this of course immediately unlocks field revenues to all the partners and reveals the true fabulous value of our licence interest. yet they knew this terrible day was fast approaching for them - after all we've been posting about it for quite some time. they so hate good news for san leon, i guess they just lived in denial and looks like they will continue to do so. fun times ahead then for the good guys (not for the baddies ), so doors to automatic, kick back and enjoy the flight!