Member Info for BlackSwan

The Prince of Wales and Duchess of Cornwall are due to arrive in Nigeria on Tuesday, on the last leg of their West Africa tour. - ----- hope he doesn't dance!

PC01 - Not "By the way" rather "the main point is" as you have mentioned below - perhaps you can appreciate the attitude shown to SLE by other long-standing investors on this board - I have commented already the dividend such that it may well be will be another none event in terms of real cash value- so it's back to waiting for NNPC oil payments to the company - Hey Ho Roll on Christmas.:
PC01 quote
"SLE is worth less than its outstanding loan, interest and cash in bank implying a negative value on BarryRoe and OML 18 and Polish Shale...it is abundantly clear, there is a lot of trust needing to be rebuilt as its not hard to see this company is valued at a more sensible valuation one day!"

Correction SP ASK not BID 41p

Tuesday and still yawning SP Bid - 41p - spooky what?

????? Share price 28.5 last Friday - today is shown on LSE site above bid 23.00 - ask 41.00 - What's up Doc? - interesting to say the least!

mclean91 - SLE was always a medium/long term investment not a day trading investment and as such stop/loss orders were an inappropriate strategy for investing in the company - the future by definition is unpredictable - one can only attempt to make an assessment of the success of any given organisation by whatever means/measures you personally deem appropriate. My opinion of the company and the reason why I intend to remain are based on the facts that they and their major investor(s) have at times been close to opening substantial new oil deposits (Poland, West Africa),in addition they have had the mindfulness to withdraw from situations they assessed to be unsuitable for purchase(Turkey), whilst also having the foresight to maintain holdings in assets which have promised great potential (Barryroe) Their approach to entering into more risky markets has been made through a well thought out strategy first to earn money on capital investment whilst looking to cautiously increase their holdings in the endeavour when favourably opportunities arise ( Nigeria).
I assume you have a stop loss order on your current SLE shareholdings perhaps you would like to share with us exactly the number of shares you do actually hold in the company?

Frus - Thanks - commiserations old sport- indeed your situation and losses from your previous postings I am well aware - it seems from Avobone days we have followed the same investment philosophy and tragic share trajectory i.e. following the company's anticipated opportunities/rounding down and suffering the great centimation ((f there is such a word) when my personal shareholdings were reduced to a mere 7200 shares leaving me nursing losses of the same order as yours (UKP 32000.00.). I hear the argument made by others "why didn't you use stop-loss orders" - the argument against using them over recent years was the general market uptrend and the market volatility during which one could have gotten repeatedly stopped/missed out of the market whilst incurring substantial losses in attempting to follow this investment. Interesting to see how posters seem to be reluctant to state their holdings in SLE, I suppose it's an ego i.e, thing my shareholding is bigger/smaller than yours or maybe the wife and her relatives will come to learn how much money they have foolishly invested - enter your own reason here.

Frus - SLE has for better or for worse over the years (to date tragically for the worse ) been very active in the pursuit of revenue in the oil patch and in my book one has to give them full marks for their perseverance, as for OF remuneration he did take a cut on this share entitlement at the UKP 4.00 level and considering what one occasionally hears regarding the salaries that are paid to top-level company insiders it could be said we have OF, on the cheap, heck he only gets loans and is paid rent for a cheap flat in London which compared to other international Elites puts him in the poor John bin of London based executives Elites...

In a recent post, you said you were finished and intended to sell up - I did recommend to you to hang on as I intend to do "this time it will be different" I will give the company two more years vis - Barryroe/Albania/Nigeria. Hey!. on a probability basis alone SLE got to be on the money this time?

LACT units - Barry oil loss allocation - almost there hope they prove it is not Eroton "leakage "
RNS Extract - Three of the five planned Lease Automatic Custody Transfer ("LACT") units are now operational in the field (on Alakiri, Krakama and Cawthorne-1 production areas), with units on Cawthorne-2 and Cawthorne-3 expected to be operational around the start of Q4.2018

100,000 BPD - The fly in the ointment is of course 40% pipeline losses due to theft - I love the "mutually cogent"" terminology it has a nice sound about ir - maybe this is the next step in the drama - don't understand these low share purchases strange?

“Products theft and vandalism have continued to destroy value and put NNPC at the disadvantaged competitive position. A total of 1621 vandalised points have been recorded between May 2017 and May 2018.

The Nembe Creek trunk line is currently operating with unbearable losses - previous comments by Eroton/Midwestern/SLE regarding the need for alternative pipeline routes and infrastructure such as an offshore loading terminal do seem to be urgently required for the future financial success and development of OML18. The big question is though who is going to finance and build this infrastructure?. The cost and effort (SLE indirect introduction into OML18 / exchange of assets to eliminate SunTrust) that Midwestern has gone through to remove opposition to SLE increasing their shareholdings in OML18 could be a pointer to the likely source of finance in fact just such a suggestion has been made way back when on this BB mentioning listings on the UK market with Tosca/OF cooperation - the game is afoot, it is not over yet, on the contrary, it just seems to have just begun.

SLE/OML18 could still get some profit out of Poland - win some lose some- we last a lot !!

https://www.zerohedge.com/news/2018-10-09/poland-buys-nigerian-oil-latest-attempt-cut-russia-oil-dependence

LIght relief - Oil/Gas exploration/extraction in different parts have their problems - If Nigeria appears to some to be a difficult market to operate in then consider an area close by:

https://www.zerohedge.com/news/2018-10-09/deja-vu-gas-conflict-around-cyprus-getting-worse

br - Thanks, agreed the internet has become the wild west of today individually and corporately - problem is how to achieve the balance between over-regulation as the EU is attempting to do and the expression of free markets - may be the next internet layer as proposed by its original inventor will go some way to reining back some of the less criminal active groups - all the worlds a stage.

Good news the sourcing of oil/gas supplies is turning our way - I have pointed out numerous times on this BB Nigeria has unrestricted access via the Atlantic to world markets - Poland seems to be taking advantage of this and I would assume other countries will follow - Web Data originally posted on III thanks to LinksDean.
:
http://nigeriannewsdirect.com/poland-picks-nigerian-oil-over-russian-first-shipment-in-nov/

BR - Gad sir you have the advantage or me there - care to explain to us lesser mortals of the abbreviations - -MiFid2 era - appreciated Thanks

...a word in your shell-like Alaric - you should really start to read more newspapers either/or seek ways to improve your memory, you seem to have conveniently forgotten a recent article in a prestigious newspaper referring to "lifestyle companies" - no names no pack drill.

SLE 2 - I like that construct, I consider OF and Nigeria are well-suited you could even say made for each other so yes, I have great hopes that the share price rise over the coming months provided of course the milestones I mentioned previously are met and achieved. What's not to like about that?

Alaric - hope your feeling better after discussions with your granny - in the interim could you make a real contribution to this BB by enlightening us all with a reply to Skullbone recent question - a question which many of us have been wondering for some time now - "How come these ratings seem to be nowhere near the current share price?" some of the share evaluations given in the referenced article are even from August this year?

Frus - you are as well if not better informed than I am with regard to what is happening in SLE - I am guessing your last post was a wind up for br, he seems to have fallen for it you should really be more considerate as he is such an informative poster albeit with a rather irritating way of expressing his opinions

br - Correct how perceptive just to reconfirm - the long hand version for you is - The Company intends initially to return not less than $10 million to shareholders through a share buy-back programme (the "Programme"), once it has completed its capital reorganisation (expected to complete in October/November 2018). The other embedded information in my comment was the possible Eroton/Midwestern corporate actions in Nigeria.

Good one - just to clear a minor point you still seem to be pursuing - referring to OML18 as a marginal field was never my idea it was how the NNPC referred to these assets at the time they were encouraging development of leases/fields hitherto neglected by the majors who held them - I've even read of OML18 being referred to as the swamp licence which I suppose given its location basically that's what it is.