Member Info for Alaric

sorry, BS, i just went to the lavvy and there wasn't anything else. you don't seem to learn anything after all this wasted time reading the totally corrupt nigerian press. sad but you'll find out soon enough now. how much do they pay you to write this ****e?

'the well-remunerated chairman in whose stock I gamble didn't engage in this sort of stuff.' this sort of stuff? you have to be kidding me jodo, which century of the dark ages did you come from? if you read the article you can see this was a test case for 'dozens' of hnws. and this wasn't a fake scheme or some scam. it was a tax avoidance scheme that the appeal court saw fit not to approve. as a matter of interest, how many tax cases do you think are heard in London every week? why do you think tax lawyers, particularly at the bar, are amongst the most highly remunerated lawyers in London. why is it this board has to attract every weirdo and dimwit out there?

BS, i trust it will come as no surprise to you that i have absolutely zero interest in Oisin's personal tax affairs, nor that i subscribe to the view that it is our right as taxpayers to organise our affairs so as to minimise tax liability. furthermore, your puerile mudslinging and schadenfreude are frankly repulsive. they say more about the character of the posters than of our ceo. also i note that none of you passes any comment on the relationship of this case to San Leon’s investment proposition, which you may gather is all that interests me. the only element of any relevance is that the arrangement clearly suited San Leon as well, since not only did the company save on expensive London hotels for visiting staff, it als no longer needed its London head office. it is, i think, well known that Oisin used the apartment on Grosvenor Square for business meetings.

is that really the best you can come up with BS? as per, no answer from any of the trolls on the factual stuff. i hope you don't get paid much for your pathetic nonsense

'One solution is for JV to buy out Eroton and Bilton. Then can ACOES go ahead with residual bad blood between NNPC and Eroton, if Eroton stays major shareholder in ELI?' quite difficult to know where to start with this nonsense, Junkie, you've surpassed yourself this time. as a matter of interest, who's left in your jv at this point to buy out Eroton etc? please don't tell me Sahara! they're already overstretched and need the cash for their existing percentage in this licence, which is why they've kicked this whole thing off. they have previous form on this sort of behaviour. on second thoughts don't answer, i don't we can take any more of your drivel.

more cohones from BS: 'I would suggest that the days of the JV business model of developing resources and public services are over in Nigeria and that a new limited company business model will increasingly be adopted with listings on local Nigerian exchanges'. it is generally known (not to BS clearly) that Nigeria has been for some time trying to attract the FDI, it so badly needs to develop its vast remaining reserves of high quality oil. this simply isn’t going to happen on nigerian exchanges so the San Leon model is ideal for them, particularly where the nigerian partner in the jv is the majority shareholder. btw if there were any suggestion that there had been a change in attitude at Afreximbank to OML18, our nomad would insist on an rns to that effect. there hasn't been one. i've no idea where BS dreams all this nonsense up from. he certainly spends more time in Junkie's company than is good for him.

a few more facts from today's rns. i assume they will be nigh on impossible for trolls to digest, since they have a fact allergy. so we don’t need to worry about them or the effluent that they smear on this board.
In its press release, Eroton has emphasised that it remains the operator of OML 18 in line with the provisions of the Joint Operating Agreement governing OML 18 ("JOA") and has made the following points:

1. The purported attempt by the non-operators of OML-18; NNPC Limited ("NNPC") and Sahara Field Production Limited ("Sahara") (now known as OML 18 Energy Resource Limited) to appoint NNPC Eighteen Operating Limited as operator of OML 18 is a breach of the JOA as any dispute whatsoever between the parties must be addressed by the dispute resolution provisions of the JOA. There can be no removal of an operator without following these procedures and the process is designed in such a way that notice requirements cannot be waived, and the removal of an operatorship can therefore not be carried out, without following the process provided in the JOA.

2. Eroton further states that the allegations of improper actions by it are baseless and unfounded and categorically denies any fraudulent acts as stated in the in certain press reports

well that seems clear enough and confirms that Sahara have been up to their old tricks again. before we all submerge in the bs on this board, it's important also to remember what the last rns said. below is the nub of it again. as you can see if NNPC were actually legally taking the operation of OML18 of Eroton (they're not of course), they would be stripping all the licence holders who use the Nembe Creek pipeline. they aren't (of course).the trolls are so excited by this nonsense that they've overlooked what's actually going on, which is all to do with Sahara and its share in OML18. Sahara, who have loads of 'previous' with this kind of thing and are well know in the niger delta for it, are overstretched. they desperately need this deal to close so they can get funds (need to remember their investment in OML18 will turn out to have been very profitable for them). if the trolls engaged their brains for once, they might actually see the elephant in the room, which is that if Eroton actually did lose the licence, that would not only be bad news for san leon but also Sahara and not even Sahara are that stupid. that would be business harakiri. oh dear.

'San Leon has contacted Eroton who has advised the Company that this purported takeover of operatorship was done without any legal or contractual basis and, furthermore, that Eroton considers that the action is without any legal effect, through both a lack of due process and a breach of the rule of law. Eroton is currently taking advice on its legal rights to address the matter expeditiously and considers that it remains the operator of OML 18.
Furthermore, as previously announced, the lack of production from OML 18 alluded to in the press has been primarily due to the unavailability of Nembe Creek Trunk Line in the last two years and not to production issues suffered by Eroton. This is an industrywide problem due to widespread and well known crude oil theft and sabotage of pipelines in the Niger Delta.

i just wanted to say, redeyemines, that is one excellent post. it gives the lie to the fake news articles appearing in the nigerian media. i suppose another point is that, if there were any truth in the suggestion that NNPC were taking control of OML18 because of its poor production, that would be the political equivalent of an own goal. San Leon has openly acknowledged this poor performance, which has of course nothing to do with any shortcomings of the field or the way it is operated by Eroton but entirely down to the pipeline. and we all know whose responsibility that is! if i were offering san leon advice, i might suggest they consider proceeding against NNPC. so looking forward to reading junkies' detailed response to your post but won't hold my breath. as i commented earlier, he doesn't usually engage in factually based discussion.

the usual stuff from him as he does disingenuous like it's going out of fashion, sam. that's because it makes comprehension difficult and negative insinuation easy. there's not much to pick between the trolls in this respect. BS likes to play the superior intellectual card but fails because he's neither intellectual or superior. to be intellectual, you need to be bright and objectively honest. he is neither. as for junkie it's quite difficult to comment, since he doesn't respond to factually based discussions well, if at all. he's told us he hasn't held stock in san leon since the polish days, so you have to question his motives here. he's just not clever enough to be a short, nor does he claim as much, which begs the question he's about here? i mean really what kind of person posts incessantly on bulletin boards re a stock he hasn't owned in years? there has to be something seriously amiss with him. you be the judges but i know what i think.

maybe BS works in the Nigerian media? certainly his reporting is as dodgy. for the record the suggestion that Afreximbank failed to commit to the project due to its high risk is false. credit committee approval for the $750m facility was given some considerable time ago. if it had been withdrawn, san leon would have had to issue an rns. they haven't.

you seem already to have forgotten, BS, that only very recently Martin Hughes took Tosca's holding through 75% of san leon. only the dimwits amonst us fall to read the message in that action. because so many here appear to be dimwitted, i'll spell it out: he clearly likes the story from here a lot and you can be assured he knows much more than you about what's going on down in the delta. unlike you, he neither relies on the nigerian press nor junkie as his sources of information.

'San Leon unsurprisingly also could be in denial about what is actually going on down in Nigeria'
oh really BS where did you dream that little vignette up from? maybe you read it in a nigerian newspaper or your mate junkie told you? you haven't discovered yet that both these sources are equally unreliable and one of them suffers from dimwittedness - you guess which. the problem of credibility all you guys have in common is that when these 'stories' turn out to be completely false, as they always do, you never so much as utter a word by way of apology to the board but blithely go your ways as if you'd never said anything. anyone with half a wit here is not fooled by your silly games. viva Sun Trust :-)

oh junkie, you haven't worked it out yet have you? poor naive simpleton. how many times do you have to fall for an Eroton 'story' in the corrupt nigerian media, before you finally wake up and realise what's going on?

well the fake one has asked, so on a day when his 'fantasy' shorts have all gone spectacularly wrong, it seems churlish not to respond. ok he's not actually lost any 'real' money but, let’s face it he's not actually had *ex with a person of 2 X chromosomes. not that i'm ****eopathic or anything. anyway to the main business - obviously my cape is black but not like the crusader's - think more transylvania with troll blood dripping off my canines. so there you have it - i'm vlad the impaler of this board. words will never hurt me only crucifixes, so bad luck matey.

whilst i agree with the general sentiments you express G1lo, i think it's wrong to let this nonsense go unchecked. for whatever reason their aim is to damage the company and ergo our investments. after MifidII, bulletin boards became one of the few places retail investors could go to get information and discuss things. so like any medium that can influence, these are open to abuse. if a new investor had arrived on our board yesterday for the first time and read all that fake stuff being put around about Eroton, would he have invested? i doubt it but if he had read the rns and seen a few of the other posts, he might have decided quite reasonably on the facts that the value proposition was very attractive. it is important for any stock to have new investors, as ultimately they drive the market in the stock. don't engage if you don't want to but know that others will and, as they do, they will be protecting your investment.

omg Junkie who are you trying to kid? these publications are all nigerian. corruption in nigerian media is well documented. so any politician wanting to promote a 'story' just has to deliver a proverbial brown envelope and heh presto! you are beyond naive and stupid if you think otherwise. possibly you haven't noticed but they had a presidential election in Nigeria three days ago and we're currently awaiting the results. so the media are particularly active at the moment and making hay while the sun shines. jeez talk about intellectual inferiority.

looks like we'll be needing more psychology journals, as the trolls become desperate and try to repeat old lies that didn’t work the first three times they tried them lol.

now i see how this thing goes full circle, bluerill. it's precisely because they're all complete ****s, that they need to take these journals on psychology. after all even they have to have something to wipe their *sses with. obvious when you think about it.

that's really funny. i was also wiping my *ss with that same article and noticed another feature entitled 'incidence of gerd in trolls'. it appears that trolls are also particularly prone to gastroesophageal reflux disease. random medical testing in the troll fraternity suggests that this is caused through abnormally high levels of bile produced by trolls. professor schmidt of the klein institute in geneva said that 'biliousness in troll communities was on the rise' adding that 'although the causal link to intellectual inferiority required more forensic data, it was looking increasingly likely'.