Member Info for BlackSwan

Alaric - Yes indeed $26 to $86 - I Iike your last comment food for thought - if only we could get this OML18 oil flowing!

Afamefuna - Yes and we shouldn't forget those bully posters who in the main are given to rather lengthy posts overlaid with sarcasm and elements of narcism.

Alaric sorry my comment for you yesterday was rather brief may I suggest you reread afamefina's latest post for further information-a tad busy these days-meanwhile OF continues to get paid his rather nice salary while we all wait to see if this she'll game works out.

Alaric-you still don't get it do you - never mind happy new year to you?

Alaric you make my point inserting the para in the rns - incase dividends are not paid - was reassuring but didn't inspire me with confidence going forward.

February 2022 SLE completion MMM! - however that all hangs on Eroton transäction completion - "Completion of the Potential Transaction will be conditional upon completion of the Proposed Eroton Transaction, the timing of which is currently uncertain."

As usual, the devil is in the detail - only a right to any dividends - "Preference Shares will entitle holders to a preferential right to any dividends declared and paid by the Company in the three years following completion of the Potential Transaction,"

Jeez, this suspension has a life of its own - best wishes for Xmas and a happy new year to all investors/day traders - something must happen in 2022 - answers on a postcard, please!

QF - your oil news - We all knew that - be careful what you wish for as they say:
"A rushed transition into renewable energy would cause spiralling inflation and social unrest, Amin Nasser, the chief executive of Saudi Aramco, warned at the World Petroleum Congress in Texas this week, noting that investments in oil and gas needed to continue in order to avoid such a scenario".

Afamefuna - The long past Chinese takeover proposal - ah yes I remember it well. Certainly, in hindsight, trading was the way to make serious money out of SLEin recent years, however, I am convinced that when the "transaction" is complete the "New SLE" share price will become more stable than in recent years at a price many times its current level - good luck to you with that.

When one considers the large historical debts of such Nigerian entities such as - Eroton - OMl 18 - who have recently been provided with a loan of $750 Mio to interalia refinance historical debts and of the company Millenium in the redevelopment of the OZA field where refinancing of Millenium's debts seem to be holding up the financing with the proposed new consortium. (Millenium's previous joint venture ****stani partners eventually went into bankruptcy) as is in the case of SLE whose potential investment is currently in Escrow awaiting new financial guarantees from the Millenium consortium. Decklar on the other hand seems to be going out on a limb with their own money.
One has to wonder where do these vast sums of money "disappear" to in Nigeria = amazing - let's hope the Chinese will bring some financial discipline into this rather chaotic of countries that is Nigeria = there will of course be a Chinese price to pay.
https://thediplomat.com/2021/10/why-is-china-looking-to-establish-banks-in-nigeria/

TB37 - Yes exactly thanks for the clarification -I like your thinking.

Welcome, Julian Tedder, he seems to have wide experience in the oil industry - it must have been difficult for him when he was with Tulow Oil - their share price really Tanked in 2020 - he must have some serious experience in handling "difficult" situations which might come in handy during our Nigerian negotiations.
https://www.tullowoil.com/investors/share-price-centre/share-price/

Sle increased Ownership in Eli and the reliable cash flows generated as OML18 and others use the pipeline could generate a substantial income for all SLE shareholders - let's hope delays in completion are transitory and must be due to current conditions applicable in the Niger Delta such as - C19 lockdowns, kidnapping etc - since Bill left OML18 it would seem development has been on hold and wells being placed on restricted output, supposedly due to pipeline losses, what is surprising though is that development on OZA seems to have been progressing apace despite any of these difficulties - hopefully, the new cash input to Erton will go some way to getting the pipeline completed and producing earnings for all shareholders.
"The heads of terms for the Potential Transaction (the signing of which was announced on 12 July 2021) are being updated to reflect a proposed restructuring of Midwestern's indirect holding in ELI (which is currently held through a joint venture) to facilitate the proposed transfer of this holding to San Leon as part of the Potential Transaction. There is expected to be no economic impact on the Potential Transaction from San Leon's perspective in respect of Midwestern's restructuring of its holding in ELI.

https://ir.q4europe.com/solutions/sanleon2019tf/4018/newsArticle.aspx?storyid=15261854

As part of the Potential Transaction, San Leon would increase its indirect economic interest in Eroton from 39.2% to 98% and, following completion of the Proposed Eroton Transaction, San Leon's indirect economic interest in OML 18 would increase from the current 10.58% to 44.1%. Given that the Proposed Eroton Transaction is to be financed through a debt facility, it is not expected that the consideration payable under the Potential Transaction (being an issue of new shares in the Company to Midwestern), will be impacted. As previously announced, it is expected that, inter alia, as part of the Potential Transaction, the amounts currently owed to San Leon by MLPL (pursuant to the loan notes) will be eliminated.

NINETEEN days after the spill at the Santa Barbara Well 1 in Oil Mining Lease, OML 29 operated by Aiteo Eastern Exploration and Production Company, AEEPCO, in the Nembe creek, Bayelsa State, the wellhead is still spewing crude into the environment, polluting farmhands and the creeks.
https://www.vanguardngr.com/2021/11/nembe-creek-oml-29-wellhead-still-spewing-crude-oil-19-days-after/

The newspaper report reference financing - named partner error - Shell Western Supply and Trading - surely a typo error - should be - Shell Trading and Supply?
https://www.shell.com/business-customers/trading-and-supply.html

The refinancing news for Eroton has obviously been holding up SLE negotiations with Eroton/Midwestern vis a vie loan repayments and RTO - whatever - there is now new money in the game - so, at a minimum, SLE should get paid their outstanding loan repayments and in the event that SLE holdings only remain at their current levels in the OML18 they should be of increasing value that would be reflected in the SLE share valuation - Afame should have a field day on this one as for myself I have always been on the table = 0nwards and upwards...
https://www.vanguardngr.com/2021/11/eroton-signs-750m-deal-with-afreximbank/

The games afoot sherlock -
https://www.thisdaylive.com/index.php/2021/11/18/eroton-seals-750m-financing-deal-with-afreximbank/#:~:text=Eroton%20Seals%20%24750m%20Financing%20Deal%20with%20Afreximbank%20November,million%20financing%20from%20the%20African%20Export%E2%80%93Import%20Bank%20%28Afreximbank%29.

Car - Jeez thanks, 2022? - meanwhile OF gets paid his salary - often wonder if Tosca and OF don't play Afume's trading game which in view of the companies recent historical valuations was the way to "invest" in this company - with the monetary values that Tosca and OF have in this game one would assume they must be covering their fund's investment in SLE "somehow"- looking back if I had been such a sophisiticated investor as by definition they are, which I am not, instead, I hesistatingly left my money on the table as the company departed Poland for Nigeria on the justification that at least after the West Africa offshore and Morrocan Tar sands adventures one knew that at least the oil was definitely under the ground in the Niger Delta - now if only we could get it to the export terminal and get paid for it by the NNPC then as only one of the sum of the parts that SLE are currently involved with it could must surely lead to a share price valuation many time higher than the current valuation - have said all that though 2022 is beginning to stretch even my credulity!