Member Info for BlackSwan

Your correct - it had to be done and we are stuck with it - lose some win some.

Share price rise/AGM - seems there is zero insider news or other super positive behind the curtain machinations taking place or we would have started to see a gradual rise by now - see what happens when NNPC payout - they certainly have the money and the interest as they have shown by recently placing a contract for new gas pipelines through OML18 - looks like it doesn't currently count for much as it is 2020 completion.

Alaric - good summary - we need clarification from OF at the AGM on this matter.

CJ - Good post - all is not what it seems..

Don't share prices usually rise in anticipation of good news from companies as their AGM approach - goodness knows we have had our share of no news/bad news to date on NIgeria it can't get much worse can it - but a substantial rise seems as far away as ever as the AGM approaches ?

PC01 - Thanks and welcome - your comment Quote - Provided the quarterly cash flow continues (my comment - can't rely on it as it did stagger in at the beginning) and their 10% of OML18 with crude at $70/b (my comment - when NNPC and Eroton decide to make any payments meanwhile we are all still waiting) brings in some income then the company will become cash rich quite quickly.

Frus - you been around for years - thought you had given up - how long is a piece of string - looking forward to your our own estimate?

It seems everybody wants a relationship with Africa - Junker in his state of the EU address wants in - everybody including the UK seems to be playing Chinese catch up - is SLE in the right place at the right time - looking forward to the AGM - suppose it will be a bust or even jam tomorrow if we are really lucky for all us long term investors.

EU Juncker quote below:
AFRICA
“We want to build a new partnership with Africa.” - “Today we are proposing a new alliance between Europe and Africa, an alliance for investment and sustainable jobs.” - “It would create up to 10 million jobs in Africa in five years. We want to create a framework that brings new investment to Africa.”

Bill Higgs Non-Executive Director of the Company has now been on the job since 24 May this year- given his excellent technical background he must by now have acquired considerable knowledge as to what is there - what work needs to be done - what future development program will be required ( floating terminal excluded) etc. It would be interesting to hear from SLE if they have already signed the Master Services agreement for OML 18 - it was originally foreseen that such an agreement would provide SLE with significant earnings over the next years - does the Master Services Agreement exist - has it been drafted - what's the progress here - given what has been happening in Nigeria vis failed reverse take over and recent SunTrust legal proceedings I am beginning to wonder?

In the SLE RNS of the 24 May the company brushed aside Suntrust claims of any illegal share transfer activities and informed us shareholders would be updated on any further events/actions taking place concerning this dispute, It is now over two months and we have received zero information in the form of an update RNS on what is actually going on with this dispute - yes, I am aware that commentators on this BB have attempted to interpret the current situation but I want to hear it direct from SLE and Fanning that this dispute has been resolved and what is our registered current holding now in Nigeria - a clarification must be demanded and given at the forthcoming AGM

https://www.thisdaylive.com/index.php/2018/05/21/oml-18-san-leon-energy-six-others-dragged-before-court/

Time for a review for all those poster shooting from the hip with their comments - who cares about Venice been there done that!

http://www.sanleonenergy.com/media/3267162/san-leon-report-2017-lores.pdf

in a word sh*t excuse the vernacular - as posed in my original questions vis the Suntrust debacle and after the failed attempt by SLE to reverse take over the Mid western asset -agin is there some reason SLE is shall we say unwelcome in Nigeria,

Google earth - Bonny island Bonny Nigeria - to view the three loading piers and vessels type into the Google Earth search box - Bonny island Bonny Nigeria

Interesting maybe?

Penspen - a multi-discipline company, who combine quality and technical excellence with agility, providing the full range of pipeline and facility services over the full lifecycle of a project.

OML 18 - Penspen powerful company specialising in pipelines and associated systems from the well head - hopefully SLE can pick up the maintenance of existing wells and the future drilling that will be required to get at the 5 trillion standard cubic feet of OML 18 proven reserves - http://www.penspen.com/

Surely this news must start to move the SLE share price?

Hope Eroton/SLE haven't sold OML18 gas toooo cheap - we could always renegotiate?

Quote - And then of course with the gas that we have -- uninterrupted supply of gas that sits
just 14KM from factory at very competitive prices of $1 and 50 cents per MMBtu
locked in for 20 years with 5 trillion standard cubic feet of proven reserves -- there is
enough gas available for Notore’s expansion plans.

AL - Good find, at a minimum we can say something is moving or will move in OML 18 with the NNPC/Fenspen/Crestech announcement which as a bonus will take place at zero cost to SLE - quiet how this should fit in with the SLE option to be given development work in OML 18 is unclear - overall it must have some direct or indirect benefit for Eroton/SLE shareholders as the NNPC focus on the Niger Delta region.

HS - sorry you'll have to type the line - copy and paste doesn't seem to work - into Google earth search.
.

HS - Notore Chemical Plant Nigeria - is a large complex in Nigeria which doesn't only produce fertiliser doesn't seem like it is going to go away overnight - I wouldn't mind living in the adjacent staff quarters the swimming pool looks great - if you have time take a look - bring up google earth - copy and paste the line below into the search box it should take you straight there.

Notore Chemical Industries (Formerly NAFCON), Onne, Nigeria

HS - Aid and supplier credit with government support comes to mind.

CJ - you are correct - further to your comment a leading international auditor this year rated them as not being an economical going concern what with the plant not attaining nameplate output due to fluctuating gas supplies and associated maintenance problems - hopefully Erotons contract providing continuous gas supplies at extremely beneficial prices will solve part of their profitability problems - meanwhile this is Nigeria and if the government want Notore to continue they can support it for ecopolitical reasons.