Member Info for BlackSwan

Samarlic amazing comment first you as usual miss the point then contradict yourself before getting somewhere close to the point that the NNPC ltd are now free from institutional regulations -.S do try harder!

NNPC shareholding in OML18 - 51% - is now held by NNPC Ltd - I wonder how all that is going to work out?

"Speaking earlier during the event, before unveiling the new company, Buhari declared that NNPC Limited was henceforth free from institutional regulations."
https://punchng.com/buhari-unveils-nnpc-limited-agency-halts-faac-remittances/?utm_source=top-story&utm_medium=web

Eli Akaso has been moved from Boney anchorage and is now anchored off port Lagos - WHY - it should by now have been firmly anchored off shore Boney as an established FSO waiting for the barges/OML18 pipeline loading - what is Happening?

I recently note somebody used the word skint on this message board a woprd that is getting to be more appropriate by the month despite Samalricks "knowledgeable" posting of Afriximportexport bank "sheets having been prepared" - whatever that means, althought it does is give the Samalrick crowd an apparent air of knowledge over something which in fact they have zero knowledge whatsoever. -

Eli Akaso has been moved from Boney to off Lagos port - it should have been correctly anchored by now as an established FSO - what in hell's name is it now doing anchored off Lagos port - answers on a postcard, please?

Please cancel the last post seems newspaper This Day quoting history thank goodness

SunTrust who all including boy blue assured us the matter of SLE illegally purchasing against agreements shares are dragging is back in court again as I predicted when the money comes on the table the Nigerians will up the game

CD27 - Agreed - Eroton hasn't had any available money even to pay the loan notes over the last years - the original investors in the Maltese company for Eli have bailed - 2 years and no income - SLE of realises that given the "situation" in Niger Delta Eli is essential to the continued viability of OML18 and as a result have felt obliged to continue pumping money into Eli having said that may I again reference one of my earlier posts of today :
San Leon Anual report 2021 ref page 109:
"The transactions described in the Admission Document are expected to complete in September 2022 after
Nigerian consents for the transactions have been received."
We have some way to go yet with this financing deal from the Afreximport Bank and Nigeria NNPC approvals.

Sam245 - Having observed your posts over the years I came to the conclusion you can,t even read - hope you find the posts of some assistance in increasing your knowledge of what is going on here - only trying to help.

NNPC who have over the past years held back dividend distribution on OML18 are responsible for Eroton not being able to pay their interest on our loan notes to SLE and they are still there in the background of this transaction.
San Leon Anual report 2021 ref page 109:
"The transactions described in the Admission Document are expected to complete in September 2022 after
Nigerian consents for the transactions have been received."

I haven't come across anything regarding SLE delisting amongst the 140 Pages of the SLE annual report - has anybody esle noticed anything?

MMM! San Leon 2021 Annual report page 50 Quote
There is significant uncertainty in relation to the completion of the Potential
Transaction, which is interlinked with the carrying value of the Group’s
investment in and Loan Notes from MLPL, which we have set out in detail in the
Material uncertainty is related to the going concern section of our audit report above.

Recommended read - San Leon annual report 2021 reference the section Director's report pages 34-38 - current situation/associated risks. The section reflects the comments many of us have been discussing on this board for some time now.

Even better OF director shareholding 9495864 shares - again other directors have options but not on this scale - amazing.

Nice one OF - 2021 Total emoluments $2.027 Mio which Include - Salary $1,306000 - Bonus $373000 - Pension$ 249000 - Fees and services $68000 - Benefits $31000 - by comparison non of the other "Directors " even come close to that amount.

The first scan - nothing has been achieved - we are down to our last $7mio and we are applying for a "facility" aka a loan of $50 Mio - no doubt our two er sorry one super poster will correct me - heck we haven't come close to connecting Eli and barging oil hasn't started!
Looking forward to others' comments as the day progresses with this one!

Thanks for the information.

MMM! I wonder, If unfortunately the shares do get cancelled does that mean that they will also get withdrawn from the various notice boards such as LSE - ADVN = Market screener.co etc?

frus - yes it certainly has really been a tough ride for most of us long-term holders of SLE shares - let's hope the new financing for Eroton and Eli comes through though, of course, the best from OF point of view would be to delist thus letting him off the hook for another six months until the end of the year such as he has been hinting at in his latest RNS. The two previous posters are to be ignored - by their postings you shall know them!

It would seem that SLE per se will seek to remain in its form and not transform itself into any new entity as some have suggested as a result of the coming deal in Nigeria.
https://www.energyvoice.com/oilandgas/africa/ep-africa/421794/san-leon-deals-listing/
"San Leon Energy has been working on a Nigerian transaction, and as a result, its shares were suspended, for so long that it faces the prospect of its listing on London’s AIM being cancelled. The company must publish an admission document giving further details by July 8, it acknowledged. Should its listing be cancelled, San Leon plans to press ahead with the completion of the transaction and then seek readmission to AIM later this year."

Afreximbank - interesting read: Eroton financing mentioned - the bank may be overstretching itself and to that extent it may want to review its portfolio if it is to become a "sure-footed" leader in African financing.
https://africaoilgasreport.com/2022/05/in-the-news/afreximbank-recent-actions-call-for-caution-around-africas-energy-bank/