Member Info for Alaric

awesome post bandit1. hilarious but certainly strong correlation of late between improving fundamentals and newsflow and the level of desperate squirrel activity. agree definite buy signal.

...you mean hysterical as in shreaking out meaningless utterances and desperate as in trying to drag very possible bit of fake negative news out of the ether when all fundamentals are looking so good? you really don't need me to answer that frus, now do you? btw. you got your head round all that share buyback stuff yet? i appreciate that's 3 questions on the trot which might be challenging, but don't take too long or events might overtake you

i like that, frus, but think of us as the fatal squirrel strain. btw. following your miserable little story here to the extent that i do (ie. not a lot) i think i may have gleaned that you are holding your now much reduced holding in San Leon because you believe the company is going to do badly from here and you are going be diluted further? do you know i think i may have discovered a flaw in your investment strategy and why you've been losing so much money? (perversely though on this occasion your counter-intuitive approach is going to work in your favour and not that you deserve it. oh well small price to pay, i guess)

omg frus what are you blathering on about? to remind, this is what the company told us recently. it's really not rocket science.
On 25 September 2018, the Company announced its intention initially to return not less than $10 million to shareholders through a share buy-back programme (the "Programme"), once it had completed its capital reorganisation. Whilst the reorganisation was expected to complete during October/November 2018, it has been delayed whilst awaiting confirmation from SunTrust that it has no objection to the Company undertaking the required capital reorganisation nor will it in any way seek to impede the process. The Company is pleased to confirm that it has now received such written confirmation from SunTrust.

Following this confirmation of no objection from SunTrust, San Leon will apply to the High Court in Ireland to approve the reduction in the Company’s share capital so as to create distributable reserves and thereby permit the Company to make distributions to its shareholders, by way of the Programme. The Company is applying to the Irish High Court as soon as practicable and has been advised that this is a procedural process, having already completed all requisite requirements. Upon court approval, the Company must then advertise to provide an opportunity for any creditors to object to the capital reorganisation.

well we seem to have lost some factual posts here from the end of last week. facts are the squirrels' most feared enemies, so i think we have a fair idea what's happened. anyway to recap, we believe that San Leon has already placed its ads in the Irish Times under s.85 of the Companies Act 2014 , giving notice of their motion today in the High Court in Dublin. this seeks confirmation of San Leon's resolution for its capital reorganisation. This is now believed to be a formality, which is required to enable San Leon to commence its already announced share buyback. Hopefully we will be hearing more on this very shortly now.

well i suppose no surprises, junkie, that you alone found this rns negative. in contrast today Cantors found it positive but, in fairness and as strange as that must seem to you, they were basing their opinion on FACTS. The fact that Eroton have been able, on a hydrocarbons play in Nigeria, to push out the maturity on this debt and to halve the dsra requirement (thereby further freeing up cashflow to spend on developing OML18 and increase production) not only speaks volumes about their creditworthiness but is also an unmitigated positive for the whole OML18 story and us. (Btw.the interest rate is outstanding for Nigeria and the small % hike entirely in line with global debt markets now.)
Cantors also reminded that the refinancing was for the outstanding balance left on the original RBL of $398m, this being some $270m lower than the original RBL. Various fairly obvious things appear from the above said FACTS and these will strike most who read this board or comment professionally on the company. I always seem to end up correcting you and tend to forget though you have an agenda to follow, which is not factually oriented.

Nice one bluerill, this is just excellent news, albeit reasonably expected after recent payments of arrears by nnpc. With other good news to follow very soon now one imagines, things must be getting a bit sweaty down in the squirrel bunker. Wonder how B7 is getting on with his valuation report on San Leon?

Thanks for your comments PC01. Appreciated. I understand that some of these guys are known to the company and they troll post on a number of boards in different guises. Most if not all are relatively small time investors*, who have lost in this share's collapse. * As one poster here comments, you can see from their syntax that there were educational gaps (I gather one is an embittered former employee.) I suspect some (but maybe Sid-based multi Ids) may be linked in some way to a spread/short organisation but have no evidence of that. (this suspicion is just based on the premise of how sad do you have to be to keep posting as a loser year after year?) A lot of what they do is technically illegal and much of the time defamatory. I would far rather be discussing San Leon's forthcoming year!

As we saw last time Stephen54321, the full payment was slightly overdue. I think that's the kind of slack good business partners will cut. Clearly if there were any doubt whatever about this payment, the nomad would insist in an RNS being issued. None was last time and nor will there be one this time.

PC01, I fully acknowledge that I have not shown any mercy to the squirrels. Over time they have plagued this board with insinuations and threats, which are never substantiated or borne out by the facts. They do not even attempt to argue rationally made points with rationally considered answers. Nor is the growing list of errors of judgment by them on supposedly fundamental matters ( eg. Avobone, non payment of quarterlies, no return of money to shareholders, Sun Trust etc.) even remotely acknowledged by them. I have always admitted the significant historical shortcomings in performance by this company but, whilst not excusing these, they are not the yardstick to measure the investment case today with an SP of 26p, which discounts all these and more in my view. I have no problem at all with disagreement or with different viewpoints which are debated properly. What I won't tolerate is blatant agenda driven trolling.

.. i guess i wasn't expecting a real answer, as the question is of course unanswerable. the fact that Sun Trust owned such a big shareholding in San Leon was always the fatal flaw in their arguments, as reported in the Nigerian press, which you and other z listers chose to believe and crow about on this board. all of it was complete nonsense from start to finish. the sad thing is that you really think its ok to serve up garbage here again as if nobody realises it. you are wrong (again) about that: you are now the butt of humour here. that suits me just fine, so do keep playing the clown

now that really is funny, afamefunny! i just love the way you take no issue at all with my description of you lot as 'Sid's z list zombies'. if the cap fits wear it eh? - hilarious!! and as for your scoring, errhumm ..nice try but, if you hadn't noticed, the squirrels have been taking a bit of a pasting of late, mainly on account of their not using any reasoned arguments. reliance on B7's 'victoria sponge LOL' as a lead argument and on unsubstantiated stories appearing in the gutter end of the Nigerian press have further damaged credibility, if not comic appeal. just one more thing: you think my investment case and decisions are based on 3 days' prices? really? ps. would love to get your take on Sun Trust's shareholding in San Leon... so come on don't disappoint us, the floor is yours

yeah funny that BS, but not laugh out loud funny (or B7 funny as we say on this board). more funny peculiar that all of Sid's zombies (z list) come out to play when the master takes a beating. and where's this leading to with Notore? - presumably you are now so concerned, you'll have to sell. shame that as you always professed to be a buy... and now when there is so much good news pending...how confusing! btw any thoughts on my Sun Trust poser? it didnt seem to get much of a response...funny that

awkwardly mclean? ...just sounds plain desperate. btw. you notice none of these z list squirrels makes any reference to the now legendary Sun Trust 'case'...nor indeed to Sid's legendary lawyer who advised them? could it be that the legendary Nigerian gutter press, which they so loved to quote from, has left them all high and dry? surely not but they've gone awful quiet on this subject ( as indeed they did previously about Avobone...no matter how hard they throw it, none of their mud ever seems to stick). be good finally to hear their views on how it came to pass that Sun Trust had such a big shareholding in San Leon all along? answers on a post card, guys.

Yep Tim B, the loss of another Sid identity is causing mayhem down at the squirrel crypts for sure. But they're plumbing the depths with this bunch of z-list identities from yesteryear. That and the actuality and promise of ever better news from San Leon have now sewn seeds of desperation. Expect more of the same. All complete troll BS.

your lightning strike was prescient, QF, as not only have Sid 4's posts been removed but so has he (again). It seems the administration of this board simply will not tolerate multi ids, trolling or bullying any longer. i suspect he'll be back again in another guise soon, so we need to be on our toes. on which theme it's good to see bluerill eagerly on trollwatch so soon in the new year! much to look forward to in the coming months and will be good to focus on this again. Requiescat in pace, squirrels.

meant to add, for those who remember, apologies to the late great Dick Emery for plagiarising on of his catchphrases.

but i like you Stephen 54321! you dared to suggest that not everybody here is a genuine poster and got 6 vote ups for your trouble. suggests to me that said non-genuine poster has become a laughing stock (again).

it's weird bluerill, but apart from his brotherhood boy , i don't think anyone's called you 'blueroll', since old sid left in disgrace back in the summer. he also used to obsess about my shareholding details here. i guess some habits die hard

ha ha bluerill, shame on me indeed - how dare i take the mickey out of trolls. and looks like these ones have sore toes. maybe they can get all our posts taken down? albeit that's quite a number i see....