Member Info for BlackSwan

Afam - I hear you, in my opinion, however, there will always be a need for "high" quality oil for the production of chemicals, pharmaceuticals etc. The question is who will be allowed to produce oil in the quantities that are required to meet the world demand for these products. I would suggest that countries whose economies heavily rely on oil income to maintain social cohesion - such as Nigeria whose society is "almost" totally reliant on oil revenues -- will be permitted to produce only high-quality oil to meet the world demand in spite of the societally imposed contraction of oil output despite the worldwide demand for premium grade oil as produced by SLE produce on OML18 - $250/barrel thank you or as Sam245 puts for billions!

Decklar For those who are interested:
https://www.decklarresources.com/news/decklar-resources-inc-announces-closing-of-share-purchase-agreement-to-participate-in-the-asaramatoru-field
employing barges they could use Eli Akaso as the previous owners used barges to export from the asaramatoru field (OML 11)

SLE still at the wavered - Midwestern or conditional - OZA phase of development - onward and hopefully upward!

Nigeria/Eroton had a significant reduction in oil output over the last reporting period.
"This Day" a Nigerian newspaper has a lengthy article concerning the reasons for the reduction.
Reference: https://allafrica.com/stories/202110050617.html
Extract: "This Day" - Abuja — The seeming wastage of Nigeria's most prized natural resource, crude oil, continued in July, with the country losing a humongous 7.193 million barrels of the commodity to mainly deteriorating facilities at the country's offshore and shallow waters assets. It was the highest loss in months mostly as a result of shut-ins due to incessant repairs as well as to a lesser extent, disruptions arising from community workers' protests and fire incidents.

At the official exchange rate of N410 to $1, the loss would amount to about N221 billion or $539.4 million.

At a time Nigeria desperately needs every dollar, the continued monthly losses were seen as a direct leakage on the country's economy.

Alaric - Interesting - extract worthwhile to note:
"Companies often use their revenues from oil and gas to fund a transition to cleaner energy, say hedge fund managers, and halting investment into these stocks hurts this process".

SLE eventually got around to informing us - it's noted that Decklar reporting is informative as opposed to what we have had on OML18 where we seem to have stopped "dragging" the rig to a new location. If Decklar doesn't eventually run into "the Nigerian problems" and continues to successfully progress in the market maybe we could sell our OML 18 assets back to Midwestern and move in another direction outrageous thought I know but I do get rather irritated with management when it has taken nearly two years to start exporting oil out of OML18 by barge to Eli Akaso - the good news is that Fleetmon now displays the vessel on their shipping location maps as an actual FSO and not as it had been displayed for over a year as scrapped.
https://uk.advfn.com/stock-market/london/san-leon-energy-SLE/share-news/San-Leon-Energy-PLC-Update-on-investment-in-Oza-Fi/86340982?xref=newsalert

obrit - Good question wish I knew - I did read somewhere that the AIM only allows shares to be suspended for a certain amount of time and then ??? = the red nose crowd might know?

Alwasel - Decklar/SLE/OZA Share purchase - roll on March 2022 then: Extract
"The Company also announces that the deadline to achieve the production milestone referenced in the Share Purchase Agreement (“SPA”) with the vendors of Decklar Petroleum Limited has been extended to March 31, 2022. The SPA provides that in the event the Oza field achieves production net to Millenium Oil and Gas Company Limited of 1,000 bbls/d for a period of 10 consecutive days in any 30 day period within 12 months of the closing date of the SPA, Decklar Resources, Inc. will issue 8,000,000 common shares to be allocated as set forth in the SPA."

Decklar recently moved onto the New York OTC exchange seems they are "forging" ahead raising their own capital - will they need SLE cash at all - complete announcement for this and Emohua Field development is on the Decklar site?
https://www.decklarresources.com/news/
Decklar Resources Inc. Announces a Letter of Intent to Participate in the Emohua Field in OML 22 in Nigeria this is the third field in Nigeria Decklar has pursued.

Callas - Exactly at least you've gotten the message - Linda Beal jumps - Ref SLE my previous posting vis "a bridge too far"well for her I guess it was. Nigerians, being locals, don't want to be parted with money or their company shares and I am afraid no legal contortions will prevail - locals always dig their heels in and that's it! Shell vice presidents appointed to Nigeria have been known to spend their entire 5-year posting trying to get paid for the companies oil output by the NNPC.

redeyemines - Yes your comment makes my point.

D Day end of Sept - What with "Waiver extended to end of Sept" and the "Annual General Meeting (the "AGM") will be held on 30 September 2021 at 11.00 a.m. at the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland".
The annual general meeting will probably be conveniently postponed due to C19 socialising restrictions imposed by the Herbert Park hotel if that doesn't happen however we can be sure the number of attendees, fortunately for OF, will be limited by C19 travel restrictions.

RNS today - how considerate of OF - and so we go on MMM!

NYS agreed long term upside that is why I am still invested,

AF - Ditto for Eli Akaso I would guess?

AFamefuna Agreed - guess we all knew that but as genuine shareholders with real cash on the table, nobody wanted to post this type of opinion - the sum of the 70 parts (ref press Smart Investor?) the trouble is non of the parts are producing income - including it seems id our OML18 wells revenues paid and controlled by NNPC. Jeez, we are even bailing out Eil Akaso Malta to cover the 12-month delay on FSO completion - don't even ask why Deckar is trying to raise more cash on the Canadian market instead of going with the Millenium and SLE offers of cash for their Nigerian Projec development - MMM!
OF will run the market price suspension of SLE shares until he attempts to get some possible "üplift" news to support the current share price - Jeez!

TRE - Yes so it would seem and yes for interest add on.

San Leon's discussions and considerations regarding the Potential Transaction described above and more recently on 12 July 2021, remain ongoing, although there continues to be no certainty that the Potential Transaction will proceed. Accordingly, in this light, the Conditional Payment Waiver has now expired. However, San Leon is in discussions to extend the Conditional Payment Waiver in relation to the MLPL Loan Notes. A further announcement will be made as appropriate.

testing?

Seems the LSE site is having problems - well from where I am and it looks like others are sitting??