Member Info for BlackSwan

Seplat similar strategy to OF with San Leon - great minds think alike let's hope it works out for all our sakes?
"Nigerian independent E&P producer Seplat delivers 51K boepd against difficult backdrop #SEPL"

Tosca as of 19.6.20 still held 50.85% of SLE shares - hope they keep OF nose to the grindstone and well they should given the history of his fine salary/bonus/fees and services/benefits which made his total emoluments for 2018 to be $1,83 Mio - SLE could have bought the Bilton ladies club a warehouse full of 12 sewing machines for that money - and with his recent massive increase in shareholding for which he was presumably given the nod and consent to purchase by Tosca lets hope that Tosca takes every opportunity to keep his nose to the grindstone. Side note, I thought his recent "laptop interview" was very unprofessional what with the up nose camera angles to say nothing of the redhead hanging on the wall behind him - do wish he would smarten up for the money we are paying him!

Patsyman3851 - Yes that's the way it goes - Swiss Quote - also will only issue a consolidated tax certificate once a year - Jan 2021 - with that document I then have to complete the reclaim procedure myself using the "Irish Dividend Withholding Tax" claim form - good luck to the Irish government as they sit on the 25% for nearly a year!

AF - Wow! is bluepill actually Mr & Mrs Alrick son, make sense as they seem to echo each other's thoughts with their apparently well-informed posts - love the new red badge is their son a blood doner - whatever, the SP still seems stuck at current price levels - we desperately need to hear news regarding the FSO and to start generating "real" income from oil sales, not interest income?

https://en.wikipedia.org/wiki/Eland_Oil_%26_Gas

Interesting partnership any implications for Eroton.
https://seplatpetroleum.com/operations/oml-55/
Seplat story with Eland oil and gas also tells a tale
https://www.offshore-technology.com/news/seplat-eland-deal/
Is there something going on with these old Shell/Chevron leases and a new generation of local companies?

Belemaoil Impressive company with strong local community links adjacent to OML18.
https://belemaoil.com/
https://belemaoil.com/exploration/
https://belemaoil.com/project/floating-storage-and-offloading-vessel/

NIPEX Note: Land and Swamp operations are exclusively for Nigerian indigenous service companies that have a minimum of 51%equity shareholdings.

Simply Wallstreet's recurring comment, besides CEO overpayment which all of us have been aware of for many years, was that the company has insufficient data to make any meaningful forecasts. Looks as though we'll have to give it another three years for SLE to generate sufficiently reliable data for stock analysts to make accurate forecasts vis profitability of the company.
While we are waiting I would comment that I have always been impressed with OF's tenacity in pursuing his goal of creating a profitable company in the oil and gas sector, somewhere and somehow, which has as a commitment to the distribution of cash flows to shareholders. To repeat what has been said many times by positive posters on this board - for new investors, this must surely the right time to invest in a company with no debt, positive forward income streams and with a current undervalued share price now must surely be the moment for investors to retain their holding or open a new investment in San Leon.
I wouldn't pay too much attention to posters on BB take them as background comments if you must but do your own research - I do often wonder what the top posters real shareholdings are if any, their motives so I am told range from stock ramping and deramping through to disturbing psychotics comments which they post on this and other BBs which I haven't even heard of - thanks bluerill for the information - as a general interest the Top 6 shareholders own 91.99% of the company.
Ownership Name Shares Current Value Change % Portfolio %
50.85%
Toscafund Asset Management LLP 228,771,927 $54.7m -29.99% 5.08%
23.89%
Oisín Fanning 107,495,864 $25.7m 1032.03% no data
13.18%
Midwestern Oil & Gas Company Limited 59,276,439 $14.2m 0% no data
3.96%
Brandon Hill Capital Limited, Asset Management Arm 17,814,825 $4.3m 0% 60.8%
0.1%
Dimensional Fund Advisors L.P. 462,569 $110.6k 6.96% no data
0.015%
Kristian Ainsworth 66,666 $15.9k 0% no data
Source - https://simplywall.st/stocks/gb/energy/aim-sle/san-leon-energy-shares

Usual self-obsessed comments that miss what I regarded as the important main point of TB's post - "delayed given government need to finance their way out of pandemic induced economic chaos " and further reading on recent comments coming out of Nigeria
"Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had during a videoconferencing on Nigeria's response to the fall in oil prices and the COVID-19 pandemic, last week said that earnings from crude oil exports would lead a substantial drop in government's revenue to N3.9 trillion as against the N8.6 trillion previously projected."

It does seem that Saudi financial reserves are being severely drained vis their need to substantially increase VAT and other taxes, let's hope for all our sakes the current US/Russia/Saudi spat is coming to an end and oil price rises will once again save our day. Upwards and onwards.
MM! Now, what should I spend my SLE dividend, on exciting times?

TB - Yes you're NOC or NNPC comments are correct that has always been THE problem best not to talk about it just at the moment seeing as we are on a bit of a roll what with OF helping Tosca out and vice versa - as an aside I guess that by now everyone will have observed that our premier poster on the BB reads the Times newspaper., seems it might just worthwhile after all paying more attention to his postings - Jeez if only they weren't so long-winded!

BP/AP - Off the cuff I can immediately think of two people to whom this applies. Bless.

The more things change the more they stay the same!

Check the CEO credibility - not very impressive - hopefully with his "new Game" play he might just succeed in turning it around.

OMl55 interesting https://seplatpetroleum.com/operations/oml-55/

Interesting - sounds like OF alter ego and why not? - LSE 09:36 29 Apr 2020 - 51.00 GBP
"December 2019, Seplat completed the acquisition of Eland Oil and Gas, an AIM-listed independent oil and gas company focused on production, development and exploration in Nigeria. Eland in 2012, completed the acquisition of a 45% equity stake in OML 40 and in 2014 acquired a 40% stake in a second licence, Ubima."

Easy - the share price should be at least UKP 2.00 - ??

MP - Good one - nice to have a laugh even if it has cost us, long term shareholders, a considerable fortune - I was fantasising similar future scenarios for OF more or less along the same lines as you have suggested on your latest post.

CJ - I think your right - OF forever on the ball?
Best I can find is that Eli Akaso is offshore Lomé. (marine traffic.com)
If only the crew on board could figure out what to enter into the AIS, including draft, they would know if it was loaded. (Loaded draft would be about 22m)
Entering “Armed Guards on board” in the AIS, started with Somali piracy years ago in the attempt to reduce the risk of a piracy attack. (whether or not guards are onboard)

With low Crude prices - Charter rates are very high for storage tankers - so many speculating traders are likely loading any tonnage they can find - perhaps why lots of ships in the Bight of Benin. Lomé has been a transhipment area for many years.

Interesting - Mr Adekolapo Ademola joins Sle (ex Energy Link Infrastructure Malta Ltd) - OF ever the deal maker certainly knows how to string interested parties together, floating offshore storage, anyone?