Member Info for BlackSwan

AF - Floating storage/offshore pipeline - certainly it is a "wouldn't it be nice scenario" - fortunately for us shareholders OF has from the beginning of this Nigerian adventure had enough sense to double lock investments and whenever possible let "the locals" put their foot forward first rather than throwing our money at it as used to be the case in chasing overseas development and contracts - a case in point of what can be done when "the locals" put their mind/money to it is the new gas collection pipeline system to feed "our" local fertiliser plant - Eroton has existing gas supply contracts - I see this as the companies quickest route to making some money in the short term (provided we get paid for the gas) . NNPC and others are behind the scheme which is in turn being driven by Buhari's policy that Nigeria should feed itself using Nigeria's vast land and water resources. The scheme does show what can be implemented given the political will rather than as is for wannabe marginal field developers (SLE/OML18) who for their part are put under pressure to find the money themselves either by raising capital of purchasing further ownership shares from such entities as the NNPC and taking the financial risks for future development themselves.
An aside - SLE, and down we go again hopefully the downtrend is based on risks associated with the impending world recession and not on Nigeria/SLE - PVR also seems to be taking a battering who would have thought that!

Afamefuna - Agreed when I first read his Linkedin profile some days ago it did leave me somewhat confused as to what his actual function was in Eroton - i.e. fixing the existing pipeline systems or was it given his extensive pipeline background planning for the new export facility - let's hope both - for sure over the last year and a half he has been there it must surely have been as you suggest as a repair and recommissioning of existing system.

Interesting case study on a Nigerian oilfield development - way beyond our relatively small Niger Delta assets however it is an interesting read never the less.
https://sweetcrudereports.com/nigerias-bonga-field-development-a-fraudulent-investment/

Alprick - Pay attention - operating in the Niger Delta - despite being a shareholder, who I suppose should attempt to hide the negatives, I feel we all should take a realistic approach to invest/operating in the Niger Delta. As I commented at the time I was rather disturbed to read SLE had out of the blue so to speak moved drilling personnel to Nigeria they then went on to announce the OML18 project - however, there did appear some positives such as involving the locals in part ownership, job opportunities in security, local educational scholarships, etc whilst putting a double lock-on our holdings through interest payments and share swap penalties for payment failure whilst working up a nifty plan that minimized taxes using Mauritius - despite OF best attempts it still seems to be an uphill struggle to obtain oil/gas revenue considering the regions underlying problems as recently echo by US investors regarding the upcoming NNPC 40% ownership disbursement of secondary fields IE corruption and disclosure in Nigeria. Let's hope Buhari can bring about structural/political change to allow all this to happen for all our benefits although as we have seen from our abysmal share price it is taking time to add to that the new President if he can maintain his position, appears to have enemies in the Niger Delta states.

https://sweetcrudereports.com/the-niger-delta-kpo-fire-millionaires-unraveling-ecological-ruination/

New pipeline problems - we build it we pay for it - we use it we cancel Nembe usage and or keep paying to use it as an option in case our own pipeline goes down possibly costs involved - we have to defend it against attack cost involved - pipeline damaged we have to repair cost involved - advantage with Nembe creek is the Nigerian security forces defend it (when not assisting the guys who steal it) and repair costs are the responsibility of the Nembe pipeline owner who when he got control of it must have thought he was on to a good thing ?? has mentioned he is almost ready to give up on his responsibility to provide continuous flow-through operation. Jeez, it's a tough life in the Niger Delta but then again the locals have had to put up with the "rape" of the environment, historically poor financial returns from oil/gas on their tribal lands from the oil majors over the last 60 years. You'd have thought to be of Irish descent OF would have some insight to how "the troubles" (hint think north/South Ireland) can occur when he considered taking the company into the Niger delta- hey ho the product is there the quality is good the problems of extraction and sale are what is causing the problems - yes it fooled me as well, I got dragged out of Poland into another adventure in Africa - the greatest mistake in investing is believing fervently in something which is blantantly untrue - mia culpa.

Looks pretty expensive to me - where is the money coming from for the new pipeline and FPSO - I am sure Bluepill will tell us but please in less than 50 words!

https://businessday.ng/energy/oilandgas/article/singaporean-company-seals-nigeria-fpso-deal-worth-902m-on-anyala-madu-oil-fields/

Focus up Bluepill and Alprick this is where you should be looking.
https://www.thisdaylive.com/index.php/2019/07/23/emafo-security-challenge-to-indigenous-operators/

bluepill - integrity intact - I very much doubt that!

A new pipeline and the FLS is the only way we are going to make any money if we still have to continue to use Nembe creek pipeline - Jezz we couldn't even test new wells because of the sudden none availability of the line - NNPC claims US 2.0 Billion in losses and lost production because of downtime of Nembe Creek pipeline - roll on the reportedly already in the planning stage new line, don't know where the money is going to come from though - any guesses?
https://www.bluewater.com/fleet-operations/what-is-an-fpso/

Alapric - your naivety continues to amaze me - "seeing san Leon brought down by irrational forces" you have no idea what was paid or traded to achieve this settlement and you have no comprehension or are even seem aware of what enemies have been made in the political/commercial jungle that is Nigeria as a result of this "settlement".

Bluepill - read and learn - it's never over till it's over, God bless

Bluepill - lying on your stomach -get up man we are relying on you to keep this show on the road, although guess you're still recovering in a psychiatric rehab sorry about that - balance your posts up a tad it may help - the problem is inside Nigeria - The 26% pipeline losses allocated to all operators by the Bonny Terminal operator are higher than was anticipated in 2016 . Roll on the alternative pipeline and floating offshore storage. God bless.

Bluepill - For God's sake shut up - go book some psychiatrist for therapy - God bless.

Bluepill - yes, we knew all that already but thanks anyway - sad to see though that you are still fixated on the world outside of Nigeria instead of inside Nigeria where the real action is currently taking place - God bless,

Bluepill and Alerick - What is going with the share price - I leave you two in charge of my investment and what happens - it goes done - please work harder more personal abuse and ramping is required to turn this around - go to work.

SLE:LSE fell below its 15 day moving average of 39.72 by at least 2.50% with a trade of 37.50 at BST 08:00 Jun 18 2019.
Last price 37.50p.

Afamefuna - it does look as though SLE along with other Nigerian companies are having increased political pressure applied to accelerate growth, particularly in the oil and gas sector - go easy with the technical indicators though your obviously getting way above Alaric's intellectual level and we wouldn't want him to self consciously withdraw his abusive ramping post would we?

Afamefuna - just popped in to see what's on the board - keep up the good work in providing a reality check from "on the ground" in Nigeria - still a lot to play for or to lose until the Delta Region sorts its politics and investments problems, hence the current stagnation in the SLE share price, no wonder even the Chinese backed out - Batman and Robin, the posters who sought to impress us all with their knowledge of high finance and the finer points of the law but who sadly lacked awareness of the practicalities of carrying out business in Nigeria are increasingly being seen as shall we say "wearing their pants at half-mast" - thanks, God bless!

Nigeria is where the real Squirrels are not the girlie ones our BB heroes have been attempting to squish with their insulting bravodo - initially, amusing now rather an irrelevance - Reference courtesy of Links on III board.

https://www.energymixreport.com/military-destroys-major-militant-camps-in-niger-delta-region/

mc - Your historical price statement isn't correct - at 13/02/2011 it was valued at over UKP 30.00 - pre the great divide - it seems people do have such short memories!

Good posts from Links on II - positive read - Nigeria is where we make money, any local positive news affects the share price far more than those who consider they are saving the company with their little game of "squirrel squashing" that takes the form of abusive comments on other posters who just happen to disagree with them.
Links percentage increase of posts referring to Nigerian local content over the last year would seem to indicate he has come to the same conclusion.

https://www.energymixreport.com/fg-spent-n1-83tn-on-jv-assets-in-2018-nnpc/