Member Info for Alaric

well whatever FCA does actually stand for here ( a few appropriate terms spring to mind) he's certainly not qualified to opine on anything remotely legal after his disastrous pontificating on the Sun Trust case that never was. and that of course followed him boring us to death on how Avobone would finish us. now he tells us Eroton are to go bust - well i guess it makes a change from the SLE armageddon story ( mind you even by Junkie's standards, be hard to make that stick with $50m in the bank and more rolling in end Q1!) getting a bit desperate now isn't it Junkie?

pearls before swine, bluerill.

oops sounds like some of you guys have got form. why am i not surprised. happy though to let you squabble amongst yourselves whose face fits which body. and i thought we'd seen the last of Sid Karno's travelling circus.

the Barryroe farm out clearly affects the value of our 4.5% npi. it makes it properly tradeable. but you will have to wait now to the end of the year now before finding out how much as i dont see us selling it anytime soon. you bother me olderandwiser: you've appeared from nowhere asking loads of qüestions and making bad points. as for the development of OML18, i suggest you read the Admission docs as you dont appear to know who the operator is.
'The Operator has proposed a significant oil and gas development drilling programme that will involve capital expenditure of approximately US$1.5 billion over the next five years that is expected to increase oil production from approximately 50,000 bopd to approximately 115,000 bopd and gas production from approximately 50 MMscfpd to approximately 485 MMscfpd by 2020. The development programme is expected to be funded out of OML 18’s cash flow and is not expected to require any further investment from the Company.'

faced now with a stream of the best news this company has has seen since it announced the OML18 deal, we have heard a strange but predictably rubbish response from a beleaguered camp squirrel, joined it seems by a bunch of first time posters (investors?) who appear at first glance not to know much about the company. nor do they know much about share tenders, which is just great. keep it up guys.

interesting point to remember, thanks bluerill. anathema to the squirrels of course but always been clear to me that Oisin has enjoyed the complete support of Martin Hughes over time. and that has been the making of San Leon as we see it today. if people want to get a good quite detailed overview of San Leon, as they did the OML18 deal, they should read the lengthy and thorough SPAngel report from a couple of years back, written by Zac Phillips. that put an SP of between £1 and £1.20 on us then to reflect our true value then. included in that was a risked value of 19p per share assigned to Barryroe (before Barryroe got farmed out). can't seem to find it now but it used to be gettable off the Winnifreth (ugh) website.

love the maths, bluerill (and your fake Fake News gag first thing, which had some confused and pee'd off the squirrels no doubt - where are you guys btw?).
see this properly trading at a discount to the tender price but not as much as we're seeing so far, so maybe once the market has woken up a bit we should be 40p- 42p. we should also have significant newsflow still to come and likely to be positive, so arbitrageurs will need to move quickly.
i know some of us have said this many times before but as we now see the cash piling up in our account (which must be the envy of many AIM oilers) and see how much still to come all at 17% interest, it is clearer what an outstanding deal this was, effectively delivering us 10.5% of a world class oil field for nothing. what value that and Barryroe in the SP today? this has got plenty more to go yet...

hi qf. don't worry - we've already done that bit in the Irish Times and the FT. that advertising was bookended by the two court appearances. the latter and final one was on 8 Feb and any objectors had to file with supporting affidavits by 6 Feb. that clearly did not happen hence CRO filing last week. think bluerill's last post is close to the mark on what's happening now. so hope news now this week.

if you go on the CRO website (Irish equivalent of Companies House here) and search SLE you will see they filed the court order for the capital reduction on Tuesday. as ever the regulatory cogs turn slower than we want but turning at least they are.

'..issue an rns.. '

also had any creditor objectors filed at court before the 6th Feb deadline and the court had somehow qualified or conditioned our order, then San Leon would have been bound to issue an end to that effect straightaway. we haven't seen one - this SBB will be happening very soon now.

well today's hearing in Dublin is a formality to sign off the share capital reductions and allow the sbb to commence. so that obviously means we now only have hours left to buy ahead of this news being formally announced. GLA.

'If we all met in a pub, we would probably be the best of mates.' marty P, i think we both know that's never going to happen.

dontcha just love the way good news for san leon (a more common occurrence of late) is greeted with a deafening troll silence? surely there must be something on this in the Nigerian gutter press that might appeal to their evident readership on this board? oh well, maybe not...

just a fantastic deal for us. a 4 well programme with an option for 2 more, fully funded by the Chinese, with no cost liability or dilution to us whatsoever. we just get to enjoy the ride. 2019 is going to be an interesting year for us to say the least.

good spot bluerill. with the farm in already contracted, this takes on real meaning for us now. i recall that zac phillips put a risked nav valuation of 19p per share for our interest in barryroe. that was in his in depth report for sp angel over 2 years ago and well before the farm-in. i see Lansdowne were up over 11% on this news, although Providence were strangely subdued.

yep been wondering if BlackSwan was feeling a bit 'ratty' by close tonight. nice work by the caped crusader, though, as he hunted down the Squirrel (again!) - looks like Gotham's safe for another night.

... in your case it is not imaginary. btw. you found any more good stories in the Nigerian tabloids recently?

I'm not celebrating anything, i assure you Jacko91. i am merely redressing the balance against misrepresentations on this board of the recent direction of our sp. nonetheless like PC01, i think the percentage move now off our lows of last year, coming as it does following confirmation that Sun Trust are dropping their hand and that we are moving to get the requisite approval for the SBB, is significant. that's all.

'The company announces a potentially significant SBB and the share price goes.....effectively nowhere. Why?' well MP, i thought i just clarified this with Nigerian Sid. not strictly correct, as we're up more than 26% since before Xmas.