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AmgenerousDerby - Thanks for the post, I like the "the young have no agenda" comment.

I hesitated before deciding to reply to your question, " Who is Alexander Roper?" I'd rather move on, but the latest obnoxious no-news ramblings from he who constantly tells us to read the documents prompted me to post.

Ref Gemini:

The most persistent rumour on the LSE boards (largely pushed by sceptics such as BlackSwan and Sam245) was that Bluerill was not a lone investor, but was "fed" information by a female associate inside or very close to the company's PR machine. The Key Names: During the peak of these rumours (2016–2020), two women were the face of San Leon's public communications. Sceptics frequently cross-referenced Bluerill’s posts with these names: Alexandra Roper. She was the lead contact at Vigo Communications, San Leon’s London-based financial PR firm, during the OML 18 acquisition. Sharon Plunkett: The head of Plunkett PR in Dublin, who has been Oisín Fanning’s long-time personal and corporate PR advisor.The "Girlfriend" Rumour: In a series of particularly toxic board "exposés" around 2017–2018, some posters alleged that Bluerill was in a relationship with a junior member of the Dublin administrative team or a specific PR assistant. They claimed this was why Bluerill often posted "Buy" signals or "Keep the faith" messages just hours before major news about Nigerian court stays or loan extensions were announced.3. The "Identity" Debate (2026 Perspective)By February 2026, the consensus among the remaining SLE "Old Guard" is split into three camps: TheoryThe "Associate" Connection The Proxy Theory Bluerill is a professional pseudonym for a Dublin-based PR consultant (likely male) who uses his connections with the female PR leads mentioned above to source his data.

Interesting, maybe excuse the "no paragraphs" rather like the posting of someone else on this board, which I did at one time consider the possibility that he was a BOT.

I post unredacted from Gemini.

Gemini again:

As of February 4, 2026, AIS (Automatic Identification System) tracking data confirms that FSO ELI Akaso and FSO Cawthorne are indeed two separate physical vessels. Based on their current draughts (the depth of the ship below the waterline), we can estimate how much oil they are currently carrying.1. FSO Cawthorne (The "Active" Hub)IMO Number: 9290347Current Draught: 10.9 metersMaximum Draught: ~22.5 metersStatus: Actively Loading. Observation: Since its high-profile commissioning in October 2025 by NNPC and Sahara Group, the Cawthorne has become the primary operational hub for OML 18. At 10.9m, it is roughly half-full (or slightly less, accounting for ballast). This indicates it is actively receiving crude—likely via the "barging" system from the Cawthorne Channel and Akaso fields—and is preparing for an offloading manoeuvre to an international tanker soon.2. FSO ELI Akaso (The "San Leon" Vessel)IMO Number: 9164847Current Draught: 10.3 metersMaximum Draught: ~22.5 metersStatus: Static / Minimal Load. Observation: The ELI Akaso has remained at a draught of approximately 10.3m for a significant period. Since an empty vessel of this size usually sits around 9–10m (ballast draught), this suggests the ship is mostly empty. It is currently acting more as a "stationary platform" than an active storage hub while San Leon and ELI resolve the legal and pipeline connection issues. Comparative Snapshot (Feb 2026)VesselCurrent Load StatusEstimated Barrels OnboardPrimary OperatorFSO CawthorneActive~800,000 – 1,000,000NNPC / Sahara GroupFSO ELI AkasoStandby< 100,000 (Minimal)ELI / San LeonThe "Conjunction" RealityThe fact that the Cawthorne is the one showing a higher draught confirms that the Nigerian state-led partnership (NNPC/Sahara) has successfully bypassed San Leon's infrastructure for the time being. They are using their own ship to store and sell the oil from the OML 18 lease. For San Leon to regain financial relevance, they need to: Finish the ACOES Pipeline: Connect the wells directly to the ELI Akaso. Win the Legal Battle: Force NNPC to move the oil into the ELI Akaso instead of the Cawthorne. Would you like me to set a reminder to check if the FSO Cawthorne's draught drops significantly in the next 48 hours, which would indicate a successful "offload" (sale) of OML 18 oil?

Posting on any board attracts a wide variety of individuals with and without bias. The poster limit can get aggressive - "by their words, you will know them" - for some, I guess it is a control freak trip lifestyle, for others it is an ego trip or a paid occupation - you know who I am talking about!

Meanwhile, it is better to go and find answers to your questions on your own, but please post to others, as we do not all have the time to pursue the resources that I add to our knowledge :

As of February 2, 2026, the Irish High Court has not yet appointed a liquidator, but the legal pathway to do so is now clear.

Following the landmark ruling by Mr Justice Kennedy on January 13, 2026 ([2026] IEHC 1), San Leon Energy has lost its primary shield against Brightwaters Energy.

Current Status: The "Return Date"

The Hearing: The court has cleared Brightwaters to present and advertise its winding-up petition.

Next Date: Winding-up petitions in the Irish High Court are typically listed on the Chancery List on Monday mornings. Based on standard court procedure, the "Return Date" (the final hearing to appoint a liquidator) is expected to be scheduled for Monday, February 23, 2026, or Monday, March 2, 2026.

The Debt: The amount at the centre of the petition remains $16.65 million.

Key Takeaways from the January Ruling

The written judgment from January provides several "red flags" that San Leon's lawyers will have to overcome to prevent a liquidator from taking over:

Arbitration Clause Rejected: The judge ruled that San Leon could not use an ICC arbitration clause to block the petition because the debt was not "genuinely disputed on substantial grounds."

Evidence of Insolvency: The court noted "unchallenged prima facie evidence of insolvency," including the fact that San Leon has not filed accounts for three years and remains suspended from the London Stock Exchange (AIM).

The "Refinancing" Risk: The judge noted that San Leon entered the agreement with Brightwaters "confident that funding was in place," but that the company alone shouldered the risk when that funding failed to arrive.

The "Nigerian Asset" Defence

As we discussed previously, San Leon’s last-ditch effort to stop the liquidator on the upcoming Return Date will be the January 27 Nigerian court order.

They will argue that the transfer of 9.6 million shares in Mart Western (linked to the OML 18 oil field) proves they are "balance-sheet solvent."

If they can prove these shares are worth far more than the $16.65 million debt, the Irish judge might grant a final short extension to allow for a sale or refinancing.

The Brightwaters Energy winding-up petition has reached a critical stage following a significant ruling in the Irish High Court in late January 2026.

Here is the current status and how it connects to the Nigerian "share transfer" victory you’ve been following:

1. The High Court Ruling (January 2026)

Mr Justice Kennedy of the Irish High Court recently refused San Leon's application to stop (restrain) Brightwaters Energy from presenting their winding-up petition.

The Debt: Brightwaters is seeking $16.5 million owed for construction and infrastructure work on a pipeline project in Nigeria.

The Judge's View: The judge noted that San Leon had failed to prove the debt was "genuinely disputed." He described the company's financial position as "parlous," noting they had not filed accounts for three years and were currently delisted from the London Stock Exchange (AIM).

The Result: Brightwaters now has the legal green light to proceed with the petition to liquidate the company unless the debt is settled immediately.

2. How the Nigerian Victory Changes the Case

The January 27th judgment in Nigeria—where San Leon won the right to transfer 9.6 million shares of Mart Western (OML 18)—is now San Leon's primary defence against being wound up.

Proving Solvency: In a winding-up case, a company can stop the process if it can prove it has assets that far outweigh its debts. By securing the OML 18 shares (valued at over $140 million), San Leon's CEO, Oisín Fanning, can now argue in the Irish court that the company is solvent, despite the cash-flow delay.

Refinancing "The Hook": San Leon has repeatedly told the court that a "major refinancing deal" is weeks away. The Nigerian share transfer was a condition for that funding. With the shares now legally assigned to them, San Leon is pushing for a "stay" (a pause) on the Brightwaters case to allow the new investment funds to land and pay the $16.5 million debt in full.

3. The "Standoff" Summary

Party Current Position

Brightwaters Energy has a court order allowing them to move for liquidation. They want their $16.5m cash now.

San Leon Energy Using the January 27 Nigerian Judgment as "proof of wealth" to block the liquidation and buy time for refinancing.

Midwestern Attempting to appeal the Nigerian share transfer to "cut off" San Leon's proof of solvency.

Next Critical Step

The next hearing in the Irish High Court is expected within the next 14 days. This will determine if the court will grant a final "stay" based on the new Nigerian assets or if it will appoint a liquidator to take over San Leon's affairs.

Gemini - again, I extract the lengthy (Even compared to our own windbag) comments on the San Leon/Brightwaters recent winding up case in Dublin, make of it what you will.

1. The High Court Ruling (January 2026)Mr. Justice Kennedy of the Irish High Court recently refused San Leon's application to stop (restrain) Brightwaters Energy from presenting their winding-up petition. The Debt: Brightwaters is seeking $16.5 million owed for construction and infrastructure work on a pipeline project in Nigeria.The Judge's View: The judge noted that San Leon had failed to prove the debt was "genuinely disputed." He described the company's financial position as "parlous," noting they had not filed accounts for three years and were currently delisted from the London Stock Exchange (AIM).The Result: Brightwaters now has the legal green light to proceed with the petition to liquidate the company unless the debt is settled immediately.2. How the Nigerian Victory Changes the CaseThe January 27th judgment in Nigeria—where San Leon won the right to transfer 9.6 million shares of Mart Western (OML 18)—is now San Leon's primary defense against being wound up.Proving Solvency: In a winding-up case, a company can stop the process if it can prove it has assets that far outweigh its debts. By securing the OML 18 shares (valued at over $140 million), San Leon's CEO, Oisín Fanning, can now argue in the Irish court that the company is solvent, despite the cash-flow delay. Refinancing "The Hook": San Leon has repeatedly told the court that a "major refinancing deal" is weeks away. The Nigerian share transfer was a condition for that funding. With the shares now legally assigned to them, San Leon is pushing for a "stay" (a pause) on the Brightwaters case to allow the new investment funds to land and pay the $16.5 million debt in full.3. The "Standoff" SummaryPartyCurrent PositionBrightwaters EnergyHolding a court order allowing them to move for liquidation. They want their $16.5m cash now. San Leon Energy is using the January 27 Nigerian Judgment as "proof of wealth" to block the liquidation and buy time for refinancing. Midwestern is attempting to appeal the Nigerian share transfer to "cut off" San Leon's proof of solvency. Next Critical Step: The next hearing in the Irish High Court is expected within the next 14 days. This will determine if the court will grant a final "stay" based on the new Nigerian assets or if it will appoint a liquidator to take over San Leon's affairs.

Ask Gemini - with the usual length output would indicate SLE won the recent court case in Lagos, BUT attached below are further comments from Gemini, make of them what you will. The below was only part of the conversation I had with Gemini, the rest was too lengthy to post here - give it a try for yourself.

Following the January 27, 2026, hearing in the Lagos High Court, Midwestern Oil & Gas Co. has reportedly signalled its intent to challenge the share transfer order. The legal landscape in Nigeria allows for a "Notice of Appeal" to be filed within a specific window (usually 90 days for final judgments or 14 days for interlocutory orders). Here is the current status of the "Seven Shared Transfer" and Midwestern's legal counter-moves:1. Midwestern’s Grounds for AppealBased on preliminary filings and legal arguments presented in the Lagos High Court, Midwestern’s appeal is expected to focus on two primary "errors in law": Jurisdictional Overreach: Midwestern argues that since English Law governed the underlying Loan Notes (the $140m debt), the Nigerian Federal High Court overstepped its jurisdiction by ordering an immediate share transfer without a prior UK-based judgment on the debt's validity.Asset Valuation: The defense argues that the transfer of roughly 9.6 million shares (the "seven shared" portion of the parent entity) is a disproportionate remedy, claiming the market value of those shares far exceeds the current outstanding debt, thus constituting an "unjust enrichment" for San Leon.2. Current Status of the TransferDespite the threat of appeal, San Leon is moving to "perfect" the order immediately.The "Stay of Execution": Midwestern has applied for a Stay of Execution to prevent the shares from being formally moved on the Corporate Affairs Commission (CAC) register.The Stalemate: Until a judge rules on the stay, the shares remain in a legal "limbo." San Leon’s legal team, led by senior Nigerian counsel, is arguing that because the debt is "admitted but unpaid," a stay should only be granted if Midwestern pays the $140m into a court-held account (an "escrow").3. Strategic Impact: The "OML 18" Power StruggleThis appeal is about more than just shares; it is a battle for the operatorship of OML 18.If the transfer holds, San Leon becomes a majority partner in the entity that owns Eroton Exploration, the current (though disputed) operator of the oil field. Midwestern’s appeal, as seen by analysts, is a "delay tactic" to maintain management control while they attempt to secure outside funding to pay off San Leon and retain their equity. Summary of the Legal TimelineDateMilestoneStatusJan 27, 2026Lagos High Court OrderGranted (San Leon wins share transfer)Jan 29, 2026Midwestern "Notice of Appeal" FiledFeb 2026Hearing on "Stay of Execution"PendingMarch 2026Expected Deadline for RefinancingCritical Window

Irish junior San Leon Energy attempts to recover OML 18

After months of negotiations with the junior Midwestern over ownership of the block south of Port Harcourt, the company led by Oisin Fanning has filed an appeal with the Nigerian courts. It hopes to recover part of the coveted oil field.

Published on 27/01/2026 at 05:40 GMT Reading time 3 minutes

The chairman of junior oil company San Leon Energy, Irishman Oisín Fanning, hopes to finally see the outcome of a saga involving debts, share transfers and broken promises surrounding the valuable OML 18 oil block. Initially scheduled for December 2025, the hearing of his case by the High Court in Lagos will take place on 27 January. Since 2024, the London-based businessman has been seeking repayment of $140m in unpaid debt securities guaranteed by Nigerian company Midwestern Oil & Gas Co.

Fanning acquired this debt, then valued at $175m, in 2015 from the British fund Toscafund Asset Management, led by Martin Hughes. The debt had enabled Midwestern Oil & Gas to buy out the third party, Eroton Exploration and Production Co, which owned 27% of the onshore oil block in question, located in the Niger Delta. As collateral, Midwestern guaranteed repayment of this debt and pledged the shares of Eroton's parent company, Mart Western Energy.

After attempting in 2022 to transform Eroton's complex ownership structure – which would have allowed it to be absorbed into San Leon Energy – and after several payment postponements, Fanning finally turned to the courts when Midwestern's new management refused to honour its commitments. According to the complaint filed on 27 November 2025, a copy of which was seen by Africa Intelligence, the Irish company is seeking to confirm the transfer of 9,642,857 shares in Mart Western Energy to its benefit and to prevent Midwestern from interfering with its right to recover the remaining 357,142 shares. It also hopes to appoint a new board of directors to head Mart Western Energy, whose sole role is to hold 50% of Eroton. When contacted by Africa Intelligence, Midwestern declined to comment.

27,000 barrels

For Fanning, the Nigerian court's ruling is all the more crucial given that on 13 January, an Irish judge refused to grant San Leon Energy the right to suspend a winding-up petition filed by oil services company Brightwaters Energy. The latter is claiming payment for a debt of $16.65m, which it believes is guaranteed by the Irish company on behalf of the Maltese entity Energy Link Infrastructure (ELI), of which San Leon is a shareholder. Brightwaters Energy had been commissioned by ELI to build a pipeline to export crude oil from OML 18.

Although the Irishman was unable to prevent Brightwaters Energy from obtaining the right to seek the liquidation of San Leon Energy, he hopes to secure the future of his company by recovering half of Eroton, and thus approximately 15% of the oil block. The block, jointly owned by the Nigerian National Petroleum Co (NNPC, 5

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