Member Info for Alaric

'SLE fortunes could at long last be on the turn, the oil we all know is there under OML18 we have only to extract it and get to market which is why I have retained my investment in the company even though it has been painfull at times.'

blimey BS have you finally seen the light and joined the good guys? but why the opprobrium?

Sorry BS but i don't see the remotest relevance of all this Nigerian media garbage to our business case. anyway you trolls are rather too eager to quote from said media seemingly ignoring the appalling levels of corruption involved. ive mentioned this to you before so here's a reminder of the extent of corruption involved: https://saharareporters.com/2021/09/13/media-organisations-nigeria-fuel-corruption-profession-abimbola-abatta

'A return to one of my favourite subjects....Notore Chemicals' ah Junkie i see nothing's changed you're still the grandmaster of complete irrelevances in the business affairs of san leon. you're just a big yawn as nobody (seemingly except yourself) is remotely interested in Notore which has no relevance whatsoever to san leon. did you miss the recent announcement that san leon is now going to be focusing on transporting oil via its majority interest in the ACOES? OML18 will only account for about 30% of our business so whatever you think about jite and Eroton (personally i think you're being a bit harsh) that's pretty irrelevant to us, as everyone except you apparently can see :-)

Happy with that answer Zoonosis? me neither. as i

said before he specialises in insinuation and avoiding facts, always failing to address arguments that don't support his negative positions on the company. his purpose? like most trolls he seeks to denigrate the company probably as a poorly paid lackey of a long/short fund looking to profit from taking short positions in San Leon. if he were genuine we would get reasoned responses to our reasoned propositions. we never do, which tells you the real answer to your question. when the $125m arrives in our account as it surely will and soon, do you believe for on minute that we'll receive a reasoned analysis of the situation for us? i'm very happy to be shown wrong but that would be a first on this board:-)

But surely you know 36800, since chartrader was an old mate of yours on the other board until he got banned for libelling both Oisin and San Leon. he used a number of different handles (at least six for sure). he posted the most scurrilous lies about the company (even worse than our board trolls, including yourself), often 25 times a day! hard to believe but over 5 or so years he posted more than 100,000 times. a complete luny of course but i understand he lost many thousands of pounds during San Leon1's phase in Poland and blamed Oisin personally for this. so there you have it. at least he wasn't some lackey of a hedge fund, paid buttons to write garbage about San Leon : his garbage was gratis presumably just for his own entertainment. let's face it nobody with more than a pea for a brain found his scribblings remotely entertaining :-)

Desperate stuff from you again BS. all through the piece you trolls have at best dissembled and probably been outright mendacious. at every turn you have spun a tissue of fabrications concerning everything from how Avobone would bankrupt us to how nobody would loan money or invest in us. when as always you're proved wrong, you fail to address the fact and merely move on to the next fabrication. you claim your big mate Afake has been 100% correct so far about San Leon. that's complete garbage. by the time our story unfolds Afake will be shown to have been 100% wrong. you specialise in insinuation and avoiding facts, always failing to address arguments that don't support your negative positions on the company. how anybody in their right mind can have contrived to spin the latest news as bad is beyond credibility. for the record obviously Martin Hughes was never going to let this matter inherited with Aurelian bust his massive investment in San Leon, which any fool with half a wit could tell you. btw the loan and prospective investment are amongst the largest to an AIM company this year. also anyone who knows the company will understand that getting a controlling interest in the ACOES has been a strategic objective of the company for some time. god knows where you got that bunkum about being forced to invest more because of Eli's financial problems is anybody's guess. the point you choose to miss because it doesn’t suit your agenda is that it demonstrates how nimble Oisin has been in using Eli's financial woes to our advantage and frankly negotiating incredible terms for these investments. so you can put that lot in your pipe and smoke it :-)

If you look at the Malcy interview with Oisin posted by Naibob, you will see he suggests some time around 2nd week of November for resumption of trading in San Leon.

'The Ordinary Shares will remain suspended until the Company has published an admission document in relation to the New ELI Investments and the Company's shareholders have ratified the actions taken by the Board.' this is from the rns yesterday. so i reckon we're only a month or two at most from accounts being finalised and the resumption of trading in san leon's stock. btw i think it was Eli we were waiting for as they were clearly stretched. the fascinating question now becomes at what price will we open?

Https://www.cnbc.com/2023/10/11/exxon-mobil-agrees-to-buy-pioneer-natural-resources-for-nearly-60-billion-in-all-stock-merger.html

Ed, i understand that NNPC were bad at paying their bills but that's all but sorted now.

Ed - fascinating piece and notice it suggests the Eroton NNPC Sahara dispute is now resolved by NNPC being the operator. maybe in practice it won’t make any difference on the ground? i hadn’t thought of it like that before. mind the trolls won't like it as Eroton losing the licence was the main linchpin of their 'argument' against San Leon. unhappy trolls means happy days for the rest of us normal folk :-)

Overshoot to 80 pence when I will be personal back to the capital valuation that I invested five years ago!'

ah another loser here, which explains everything. sadly you're also delusional particularly where Afake is concerned. he's just another board troll, who is neither invested in San Leon nor wouldn’t know one end of a short from the other. i suspect he's in the employ of a long/short fund who pay him buttons to post negatively about the company. such is the paucity of regulatory enforcement on AIM that such behaviour goes on. you have failed to notice that the 62.5 million warrants granted to Tram are exercisable at 60p and the provision of an option to subscribe for nearly 45 m shares at 30p. i'm very sorry that people lost money in San Leon1, as you clearly have but they they should realise that this is only the real beginning of the story of San Leon 2.

'Nigeria and Eli seems to be a new area for TRAM to be involved in?? But hey if they want to put the money on the table them welcome.'

really delighted to hear that BS, even with your sour grapes added lol. your mate Afake has gone awful quiet of late don't you think? i won't bother trawling back through all the trollsh/te to see how much alphabet soup you guys are going to be drinking over the coming months but it will be in gallons :-)

Well i was just wondering what Afake was doing for breakfast tmrw :-) lol

Century Energy Services Ltd (CESL) has completed the mooring of an FSO offshore Bonny, capable of storing 2 million barrels.

Energy Link Infrastructure owns the ELI Akaso while CESL operates and manages the facility.

CESL said it would provide “evacuation, storage and offtake” for producers in the area.

The FSO “exemplifies our strategic approach to addressing both current and future demands of the oil and gas industry. We remain steadfast in our commitment to pursuing the most resilient, competitive, and high-return asset investments, ensuring consistent cash flow for the foreseeable future to all our stakeholders,” EnergyLink Managing Director Adekolapo Ademola said, adding that projects such as the FSO allowed the company to meet growing demand from its customers.

“They are increasingly focused on enhancing their production and supply security, a concern that’s gaining prominence among global industry stakeholders,” Ademola added.

The company however said the ELI Akaso should address challenges around exporting and storing crude.

CESL CEO, Ken Etete, said the new terminal mooring “significantly advanced our collaboration in oil and gas infrastructure”.

Stating that EnergyLink would work with CESL again, Etete said CESL aims to “rapidly expand hydrocarbon storage services not only in Nigeria but also internationally.”This aligns seamlessly with our infrastructure vision.”

CESL is part of Century Group, which was founded in 2002. The company also works on the FPSO Tamara Nanaye, Tamara Tokoni and Tamara Elmina. The first was previously the Front Puffin, on OML 113, and the second was the Armada Perdana on OML 119.

San Leon Energy reported in April that Century Group had struck a deal with ELI on the ELI Akaso. The oil company said a 47-km undersea pipeline would run from OML 18 to the FSO, with throughput of 100,000 barrels per day of oil.

There was no mention of the pipeline from CESL. San Leon has previously said it expected this to be completed in the second half of 2023.

EnergyLink’s Ademola, also a non-executive director of San Leon, said working with Century Group “should expedite our ability to deliver value to our key partners and shareholders”. San Leon bought a 10% stake in EnergyLink in 2020. The company struck a deal in August to lend cash to EnergyLink, with the scope to increase its state to 16.2%

'Toscafund and San Leon have agreed to a further extension of the Loan repayment date to 6 October 2023.' that’s this Friday, which sounds most positive in the context of the main longstop being pushed back to the end of the year. so watch this space seems to be the message we're getting, as am sure that Tosca's $5m will get paid out of the much bigger alternative loan facility.

Problem is BS that NNPC'S own website gives its origination as 1956 and Wikipedia as 1977. so usual incorrect blab from you. as for 'follow the money', i wouldn't be so sure. their record of corruption among senior executives is frankly appalling. you get very easily exited by these little stories you pick up in the nigerian media. one thing you trolls never seem to factor is that Nigeria is desperate to attract FDI (foreign direct investment) to develop its hydrocarbons resources. if they allowed NNPC to effectively nationalise OML18, what kind of message do you imagine that would send the investment market? trouble is you trolls never engage the little grey cells :-)

Do you really think this is going to be resolved in favour of Ereton any time soon?' yep

'I take no joy saying any of this, I am one of those who lost money in San Leon' you sound more like a troll loser every day like the real nick leeson. btw his losses for Barings eventually totalled $1.4bn and before fleeing he left a note on his desk which simply read 'i'm sorry'. the oldest merchant bank in the city collapsed. so a fascinating choice of moniker? will you leave a note saying you're sorry when this comes good? i will if it doesn't.

Andy Brough of Schroders Special Sits Fund lost c.£100m in redemptions. It is not a sophisticated strategy to look at the small cap companies in which the portfolio has equity holdings of 10%+ and take short positions. However, PANR does not have shareholders of the likes of Andy Brough. It has a large number of HNW UK based shareholders and small family office type ‘institutional’ investors. Therefore, any ‘forced selling’ linked strategy would have to be based on the convertible bond loan payment to Heights Capital. It is fair to assume that the Spencer deal has impacted one of the events Mangrove were counting on. The CBL is now uncertain and Spencer likely to do again. The market is not only more comfortable with Mangrove’s short position but, judging by the recent rally, it looks likely this validates the removal of this event as one of Mangrove’s only real basis for shorting PANR.

3. As mentioned earlier, Mangrove take a long/short general approach to UK small cap oil and gas stocks. It is likely Mangrove are long with names like Tullow, Predator, Jersey etc and short PANR as they believe the risk profile is balanced in their favour. Poor assumption but likely to be they believe there is a greater chance of these names providing a high chance of returning 50%+ and so worst case scenario PANR goes up 10x Mangrove will be covered by their hedge. Even so they would be able to cover in time before material damage is done to the fund. Mangrove has c. $1.3bn in AUM, with about 7 analysts and, while a c.15m short position might seem big on this board, it is immaterial to their overall portfolio. Looking at the recent volume, and to answer a much raised question on this board, why would Mangrove increase their short into such good news, Mangrove have used the recent positive news as liquidity events to increase their short position without price mitigation and in doing so raise capital for their long positions. A 5m volume day easily goes up to 25m and Mangrove can increase their short without impacting the share price which is what they care about. A point here or there is someone’s bonus and it all counts. Plus the obvious impact of increasing a short position is to maintain the fear factor. They are trying to sow fear, discord and confusion. They are playing the old Butch Cassidy line, ‘who the F is that guy?’

All IMO

Insightful post on the other place, which is worth sharing:

'Long term shareholder in PANR, rarely post but follow bbs regularly and wanted to share my insights into the increasing Mangrove short position given shareholder speculation. As some posters have already commented, on this board, the Guild and other sites, I don’t believe Mangrove has any information edge and are taking a general long/short hedge approach to small cap oil and gas UK listed companies. All IMO but my general thinking is as follows:

1. In the information available on Mangrove and elsewhere regarding the background of the principals, it's apparent that the PM that put on this trade is a generalist and not an O&G specialist. The typical hedge fund trader with that kind of background would be a couple years of geology at uni perhaps and then a bunch of years either trading oil stocks and/or bullshttng about them on social media. It’s now painfully obvious that no one at Mangrove did any specialist DD on PANR and it’s very likely that their investment thesis is based solely on following the Peel Hunt/Matt Cooper reasoning, which includes the 'idea' that PANR can go to 0, which in itself is a highly unusual price target to put out to market. Although I notice a high-profile poster on this board has spotted that Peel Hunt are the top bidder for Panr stock and I think he might be onto something. It’s fair to suggest that PH being the main buyer today (and yesterday?) is likely a positive signal.

2. The most useful text from Mangrove's website posted, which I believe has already been posted on this board, was the section on their 'strategies' and how they approach long and short positions respectively. In short, there is nothing remarkable here. Mangrove are a completely conventional, event driven, equity long-short New York hedge fund that does pairs/spread trading and looks for cheap/expensive names with catalysts. They have a decent merger/arb book and have done some SPACs but are a generalist, vanilla hedge fund of which the strategies they employ have been done by the masses for the last 25 years. Only 2 things stuck out for me in any of their marketing material, and they were both in the explanation of some of the things they look for in putting on a short position. Among all the usual blah, blah including fraud, valuation, etc., there was 'forced selling'. This is not a typical catalyst you would expect to see sighted in a sophisticated hedge fund strategy profile, and it is quite instructive because of that. It has become uneconomic for mid-to-large brokers to conduct in-depth research into small cap companies, with MIFID II in the post Brexit environment, resulting in firms being more vulnerable to re-ratings. This has become a significant cause of redemptions, of which we are seeing large amounts in the UK. Firms are having to sell their holdings in x number of small cap companies to cover their redemptions (forced selling). Andy Brough of Schroders Specia