Member Info for BlackSwan

Eroton supplies gas to Notore - seems reliable and continuous gas supplies are critical to the efficient operation of the Notore fertiliser plant Eroton contract to supply solves the problem:
Quote from 2018 business transcript:
Now some of the key advantages Notore has as a corporation is that Notore has
control over its gas supply. If you recall, Notore’s gas supply was responsible for
Notore having the challenges during the early years. In 2013 and 2014, and that you
can see from our numbers. In 2012, when we had just finished the rehabilitation of
the plant, we are already at 370,000 metric tonnes and the business was quite
profitable. We posted a N6 billion profit after tax in 2012.
In 2013, when it was time for us to begin the optimization of the plant, we then had
the gas challenges and those gas challenges then continued 2013-2014-2015. So
those were the challenges but now we have secured gas, and it was because of the
gas challenges that Notore then had reliability problems from the thermal cycles that
we had at the plant.

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. And we intend to start and
complete early works and front-end engineering design for the execution of a second
plant which will be twice the size of the existing plant by third quarter of 2019. The
early works would have started now.
In the medium term, Notore plans to construct and conclude the construction of a
second plant by 2022.

References:

http://notore.com/

http://notore.com/images//investor_relations/Notore_Chemical_Industries_Plc%209M_2018%20Results_Conference_Call_Transcript.pdf

Sister8 - her brother Blue or a close relative though an unusual name for a squirrel? - from your first posting I imagined you narcissistically posting comments whilst admiring yourself in a mirror - it was at first entertaining if not a tad verbose - recent comments have provided some answers to my list of questions previously posted thanks - but in fact they added nothing to what us long term holders weren't already aware of - I really don't know why people of you ilk waste their time on this BB - as to why long term holders such as myself are still here the reason is that we still have some faith in the next deal Nigeria - share price currently seems to rising as our cash in the bank keeps increasing and in the expectation of any announcements to come at the AGM in Sept - OF the showman always had great timing - remember St Moritz?

Frus - concur - but for the new guys who buy in at these prices it may be a different game?

J91 - Yes passes the time while we wait for some NNPC cash payments and the AGM - here is another shipping site that maybe interesting - currently gives details of large crude oil tanker name- Iris 380000 tons heading for Bonny port - ETA 01.01 31/8/2018 hopefully we have something to load ?

https://www.marinetraffic.com/en/data/?asset_type=expected_arrivals&columns=shipname,recognized_next_port,reported_eta,arrived,show_on_live_map,dwt,ship_type&recognized_next_port_in|begins|BONNY|recognized_next_port_in=1645

What's at anchor and loading - existing offshore terminals - overview of what is happening for shipping real time in the area of OML18.

https://www.marinetraffic.com/en/ais/home/centerx:7.127/centery:4.452/zoom:12

Today - Mrs May will also travel to South Africa and Nigeria, where she will be joined by British business leaders, the trade minister, George Hollingbery, and Harriett Baldwin, the minister for Africa.

Later in the week, Mrs May will travel to Abuja, the Nigerian capital, where she will hold bilateral talks with President Buhari

Hopefully Eroton will be shaking hands and OF will be somewhere in the background - the game is on.

Frus - Good post - your well laid out scenario matches the expectations of most positive shareholders on this BB even if its realisation does seem to be meeting with some opposition.If it were to become the new reality then the recently posted broker share price expectations would surely be realised - look forward to your next post.

The BB currently seems to be sweating over details whilst failing to notice the big picture over OML18 ownership.
Questions come to mind such as:
Why did the Canadians sell after managing to increase output from this marginal field - Why was it necessary for SLE to enter into OML18 by such a circuitous manner - Why did the Chinese takeover talks really come to nothing - Why during the recent suspension of SLE didn't we achieve a greater integration into the local company - Why after such a well prepared proposal document as to how SLE was going to participate in OML18 production and development do we only have one local engineer carrying out inspection/fishing and the installation of some metering equipment - Why have we now met with such an audacious claim from a powerful local Nigerian company, with many interests in Nigeria, saying that we have no rights in claiming any ownership in OML18.
Yes, we could all give answers to the above questions from information that we have managed to pick up from here and there, for myself however I must say still don't really know why/what has actually been going on here - I had hoped that by now we would have been well on our way to receiving substantial revenues and participating in the development of OML18 as laid out in the original SLE documentation regarding our company changing prospects in Nigeria.

Al - You can also add to that Blue's recent comment about Suntrust being run by a world class lawyer - take a look.

Al - your comment - so will be fascinating hearing how Suntrust's brief blags that.- yes looking forward to that hopefully we could walk away with a load of money but given how Suntrust chairman as I mentioned in a previous post is a top lawyer and would appear on the face of it to be political better connected than Eroton we could be in an uphill struggle if politics comes to law

Blue - Yes, Social Media and BB can be a bit of a jungle but I assure you it was never my intention to take the mickey I was being serious - all I want from this BB is information and opinions in as much detail as posters have the time and knowledge to post - rampers and derampers each have their reason for posting and it's up to me to form some sort of opinion from their comments, the fact that I am still here nursing some rather large losses (who isn't) doesn't say a lot for my abilities in that respect however bad times don't go on forever do they? Squirrels and message boards - I liked that one.

Blue - Thanks your recent posting thank goodness your once again back to the high analytical standard I have come to expect from you,to loosely describe the situation as a pantomime was disappointing, Hope we can look forward to your well considered future analysis and comments on SLE and the situation we are currently facing in Nigeria.

AL - No he was just diplomatically sidestepping the question with the pantomime scenario.

Blue - Agreed - it is nothing more than an early scene in a business pantomime - it was the continued grinding on with the details as you say, at some length may I add, on the BB that led me to my original - Jeez - post. Suntrust do seem quite tenacious in achieving their intentions - more money/blocking further integration of SLE into the Nigerian operation or whatever they are really seeking? I am sure we will again avoid the threat of liquidation and the SLE nine year pantomime will continue - if only the tickets for the show had not been so darned expensive for the majority of us shareholders !!!

Blue - Before you go would you care to you make an attempt to summarise - in no more than three lines please - what is the essence of the problem here?

Blue - I was quoting from the DPR letter I attached to my recent post - with respect to your - busting themselves - I had already pointed that out in a recent post of mine.

QF/AL/Blu - Thanks for correcting me, a bit of a relief really, it was Mart Western Energy Ltd that should have applied for permission - in the case that they actually did sell shares - otherwise any claim to title ownership or interest in OML 18 are invalid - certainly makes more sense.

Blueril - Muddled I am not - 1 I take your point in that you claim SLE took an indirect shareholding which is the current prevailing view - for whatever that is worth - a transfer of ownership of shares DID occur for cash payment, surely whoever received the shares should have applied to ministry for permission to acquire them in this case SLE who are now claiming to be shareholders- 2 The Nigerian regulations are clear as of my reading that it is the purchaser in this case SLE who are responsible to seek approval for the transfer of shares not Suntrust - why you may ask yourself did this subject of approval arise if it was thought that SLE were not a already a valid purchaser/shareholder.

QF - yes we agree