Member Info for BlackSwan

Https://punchng.com/scarcity-nnpc-constitutes-economic-danger-sell-it/

The situation we and others are facing in Nigeria - the question remains did Fanning factor in the market conditions with his own abilities assumed abilities to wheel and deal to his or hopefully SLE shareholders advantage whilst functioning on such a commercial environment?

Https://archive.ph/2024.08.25-041429/https://www.ft.com/content/ad12ccb4-6069-4af1-bb66-b443dcb1d641

Nothing lasts for ever - guess Fanning is still hiding out in Dubai sorry did I say that I meant living/working from Dubai.

The company has culled its financials marketing specialists and will focus on managing private equity, small and medium-sized UK company stocks and global equities, according to people close to the firm.

Let's hope SLE is still in the ball park?

36800 - A most generous comment to say the least 😉 *#!!!

Gad! Sherlock the game's afoot - " In any case, if the Dangote refinery is unable to meet local demand, imports can fill the gap, these people in NNPC do not want to end their lucrative subsidy scam, and I don’t think they will end it".

https://dailypost.ng/2024/07/22/people-in-nnpc-dont-want-subsidy-scam-to-end-emir-sanusi/

NNPCL - The truth will roll on out - the recommissioning of OML18 is in sight??

Daily Post Nigeria:

https://www.msn.com/en-xl/news/other/nnpc-should-be-held-accountable-for-nigeria-s-woes-cnpp/ar-AA1oC8wd?ocid=msedgntp&pc=NMTS&cvid=5af2de3f70a741d2a6874aa66af2ab03&ei=12

NNPCL- Kyari declared that the NNPCL “is loyal and faithful to the country,” He observed that most problems in the petroleum industry “have nothing to do with NNPCL. We are faithful and loyal to the economic interests of this country.

“We are not criminals. We are not thieves. But we will protect our dignity and honour.”

BS!!

NNPCL - alias the Bete Noir of Nigeria - a state within a state - methinks they do proclaim too much:

https://dailypost.ng/2024/08/08/senate-raises-questions-over-1-5bn-expended-on-port-harcourt-refinery/

Https://punchng.com/tinubu-has-directed-cds-to-curb-oil-theft-in-ndelta-kyari/

Let's hope they are getting serious - but " I'm from the government I here to help you" comes to mind.

Https://dailypost.ng/2024/07/02/crude-oil-controversy-ethnic-youth-leaders-give-nnpcl-md-kyari-7-day-ultimatum/

Things they are a changing it will be a race between our financial resources and changes which are desperately needed if SLE are survive in Nigeria.

Https://punchng.com/just-in-nnpcl-declares-state-of-emergency-on-oil-production/

Https://www.londonstockexchange.com/news-article/market-news/cancellation-of-listing-on-aim/16544468

The comments on the board do make me smile, even though regrettably I am a still a genuine shareholder, the comments amount to only so much pseudo intellectual waffle while Rome burns - Nigeria doesn't even have enough surplus oil to run its refurbished Port Harcourt and its new Dangote refinery in Lagos it's having to import oil from the US. God knows what condition the well heads are in on OML18.

Here is a long read for the summer it describes the situation we have been facing over the last years it says it all!

https://punchng.com/economy-suffers-as-illegal-refineries-defy-govt-efforts/

RNS - Sounds good, let's hope it all works out - OF working hard using a bond to cover the situational risks - hoping we can all look forward to a successful outcome on 1 OCT 2024 until then best wishes to all genuine shareholders and do have a good summer!

When we think it couldn't get worse it does 😔 https://businessday.ng/energy/article/oil-production-at-risk-as-labour-threatens-shutdown/

Nigeria is the problem - one has to have a certain sympathy for Fanning given the situation that has transpired in Nigeria what with endemic corruption and a country with a basic minimum wage of ukp 16 per month he has got himself/Tosca/us into a business in a country currently verging on a military coup - don't hold onto your breath with this one?

Https://businessday.ng/energy/oilandgas/article/rig-count-in-delta-fails-to-match-nigerias-1-7mbpd-target/

Despite the introduction of the Petroleum Industry Act, regulatory agencies still demand for bribes or incentives to attend to licences and approvals of oil rigs, and the delay in the process and bureaucratic obstacles did not change,” a senior industry source who pleaded not to be quoted

Sam 254 - SLE have a Holding in the current licence to operate OML18 they do not own any geographical land per se in the area under license - from way back in memory the license at the time Eroton and Midwestern.etc had the lease to operate according to their RNS it terminated if I recall in 2024/2025 (you look it up) - what the current state of entitlement/ownership SLE has on OML18 is under NNPC/Sahara is not really clear to me - rumour has it that OML18 is pumping oil, God knows where it and it's associated revenue are going?

Roll on end of May?

Https://pointblanknews.com/pbn/exclusive/corruption-coalition-charges-igp-to-investigate-prosecute-okoloko/

MMM! The company we keep - interesting reading while we wait - what implications does this have on our Holding in the OML 18 licence which the majority troll on this board always claims we got for "free"?

What are the financial implications for SLE (AIM) of a successful court case ( heaven forbid although it does seem likely) to wind up San Leon Eli Ltd, does one drag the other into bankruptcy - what are the counter party guarantees if any that OF has set up between the two entities as is his typical wheeler dealing style of project financing?