Member Info for BlackSwan

PCo1 - Agreed another balanced comment, in fact, an altogether refreshing post considering the insulting level of the comments floating around on this board - for myself, I believe the company can grow earnings despite the difficulties they have already faced in Nigeria but as you say If you believe the company has only one asset - an outstanding loan - then you most certainly should not be invested here - Nigeria is a difficult market to extract value from hence my welcoming of the NNPC payments to fund future investment which OML18 desperately needs whether it is clearing of existing wells - well refurbishment - constructing a new pipeline for exports to overcome the crippling losses of the existing Nembe creek line and so on.

Alaric - I am frankly staggered by the relatively flat market response to this news
Bandit1 - like you I am very surprised that there has not been heavier buying volume/interest

Yes agreed - maybe this gives you some appreciation of what it has been like these last years for us long term holders no wonder some have turned rather shall we say sour - however I consider the opportunities facing the company are better than they have been for some time and I look forward to it being reflected in an increasing SP in the immediate future.

Down the Pub!

We have - cash flow (in excess of $80 million per year until mid-2021) for further drilling and development - can't be bad.

mclean - Yes Yes some of us read all that last year - PWC has done the actuals which don't present a pretty picture of the past or of the future performance of the company - Notore did originally lay the blame for their poor plant performance on intermittent gas supplies inhibiting them from running the plant continuously at optimum temperatures over a 24 hour period - affecting their costs/output and income stream.

QF - well found and CJ your comments ref Notore Chemical Industries Annual report - 30 Sept 2018 - interesting if scary read another Mauritius company MMMM! - I was particularly staggered by their Contingent Liabilities listed in item 25 page 44 of the above document.

MM - Right on all accounts - good luck with regards to speaking to the management despite several attempts in the past I never received a reply.

Market Mover the same thought had crossed my mind from the push posters - MMM!
I have noted some posters have been posting even at weekends and all hours of the day and night. Its almost as if their workplace is shut so they have no access to the computers, hence no posts from them.

PC01 - Good realistic post - agree - roll on New Year.

I consider the payment of the substantial majority of NNPC cash call arrears to be a very positive step in supporting the OML 18 new well drilling activity which began last week and is targeting increased gross oil production.”

Good news now we know where the cash came from - I like that they put their cash on the table first - next question still outstanding and which I have asked many times on this BB - who is contracted for the new development work exactly? Roll on Xmas.

guru121 - yes

mclean91/Alaric - nobody on this board was ever painting a picture of doom - all long-term, short-term and nonholders (for sake of argument we will exclude the insane) were reacting to the current state of play based on the limited information that has been available to us shareholders - each has his opinion it's up to the individual to discard or embed them into one's own attempt to comprehend was is the situation and the ability of the company to return value to shareholders (shorthand - make money).

bluerill - I concur - "Never anything simple with San Leon", - seems there was, in fact, unfinished business with Suntrust as had been alluded to by various posters on this board - a resolution seems in sight, and in fact there was unfinished business in Nigeria/SunTrust that had held up SLE reorganization in Ireland - smoke and fire DO occur together - one more push to the end of Jan and we should be on our way to UKP 4.00 in 2019 - Santa Claus lives - hadn't realized he was Irish - UKp 4.00 is my recovery price - Roll on Xmas! and 2019 a New Year indeed.

bluerill - youve been speed reading again - my comments on our contractual position specificaly refered to the development work to be undertaken at this time on OML 18 and in this specific case my comments were addressed as to whether SLE themselves were actualy perfoming the work as detailed in the RNS - hopefully sloppy RNS writing and that we are actualy main contractor for this development, althogh having lived with OF for the last 8 years what is omitted is often more important then what is not - roll on Xmas.

bluerill - Reference your "Again" para below - yes, that is the reasoning that I had come to accept as the solution to SLE continued ownership/participation in OML18 and I had moved on. However there does still seem to be some opposition in Nigeria, with enough inflence to get their comments into the Nigerian media and even conjure up a new Avatar to comment on the LSE board - it certainly has not been an easy for us in Nigeria to date what with setting up the indirect ownership structure and the debacle over what I assummed was a failed RTO - further doubts as to our contractual position in Nigeria arose when the latest RNS did not make it clear whether we had been contractualy employed to perform the new drilling contracts or not - from memory Eroton did have the right to take others, if SLE were uncompetitive in price - roll on Xmas?

Note SunTrust refered to below is the Sun Tust Nigeria Bank
1, Oladele Olashore Street, Off Sanusi Fafunwa street, Victoria Island, Lagos, Lagos State, Nigeria.

Further where did it all start seems the original poorly written document came from below - interestingly maybe the original poster Afamefune name bears some slight relationship to the address of SunTrust - Fafunwa street, Victoria island, Lagos - MMMM!

https://www.marketscreener.com/SAN-LEON-ENERGY-PLC-4051156/news/San-Leon-Energy-Court-to-Hear-Suntrust-rsquo-s-Suit-against-San-Leon-February-6-27721820/

The source for the orignal seems to come from::
(c) 2018 THISDAY NEWSPAPERS LTD. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Smoke without fire? - action is scheduled for Feb 6 in the Federal High Court Nigeria but to what end exactly?
Best hope - Redymines recent post? - to finalise and close the case - worse hope a collapse of the out of court settlement has occured which we had all assummed had been agreed - the latest RNS regarding the supply of the drilling rig for the coming new well exploration which if successful will contribute to field volume outputs however no mention was made if it had been part our SLE operational contract - a tad worrying here that we not be as well bedded in Nigeria as OF would have us believe..

Ref Published - Second source in Nigeria
http://www.kekenapep.com/court-to-hear-suntrusts-suit-against-san-leon-february-6/

Ref - original motion of SunTrust against the other five
http://suntrustoil.com/file/2018/05/MOTION-FOR-INTERLOCUTORY-INJUCTION.pdf

RNS Spudding OSMU-1 Well on OML18 - at last a real event in the real world that we all can use as a measure to progress the failure/success for future value/share price level of the San Leon company rather than the psuedo intelligent arguements/crystal ball reading offered by some on this board - not their fault really theorising and argueing is what they do.

bluerill - Thanks for your comment - at best your comments are intellectually interesting if not amusing, at worst obnoxious, judging from your posting history and that of your compatriot Alaric both of you would seem to have not been so credulous (stupid) as to actually have bought shares in SLE whilst all the while you have the temerity to denounce others as being non holders. I wonder at what price you paid for your shares if, in fact, either of you has ever bought any SLE shares. Roll on Xmas.