Member Info for BlackSwan

GTJD - Yes, Thanks. I remember the auction fiasco from so long ago. I once thought the local company Century would eventually "acquire" it into their assets, which I believe are centred around Port Harcourt.

Ongoing Discussions and Debt: Following the termination of the reorganisation, San Leon and Midwestern were still in early-stage discussions for a revised transaction relating to MLPL. Crucially, San Leon stated that it is still owed approximately $120 million in loan notes from MLPL, which indicates that MLPL is a debtor and therefore an existing entity. San Leon also mentioned it would seek repayment of the loans if a new transaction could not be agreed upon.

There is no time limit for how long San Leon Energy can remain an unlisted company.

​No Legal Obligation to Re-list: Once a company is delisted, no stock exchange rule or government regulation forces it to re-apply for a listing. The company can remain private indefinitely.

​The Decision is Strategic: The company's management has stated its firm intention to re-list because it believes it is necessary to restore liquidity for its shareholders and gain access to public capital markets once its financial position is stable and its core assets (like the ELI/ACOES project) are secured.

​In short, the company is unlisted by default until it meets the conditions (refinancing and updated accounts) to file for a new Initial Public Offering (IPO) or re-admission on an exchange. The duration is entirely dependent on its ability to execute its turnaround plan.

The recent FSO Cawthorne which has seemingly "turned up out of the blue" and anchored not 3 miles from our Eli AKso must have been in the planning for sometime - what bu--sh-t Nigeria's first own FSO!

Eli has been sitting their for some years now practically being unused - why? The OML 18 ownership crowd must have known about the new FSO why weren't SLE shareholders informed? Is there still a plan to use Eli for "anything" or will OF sell it for scrap? You tell me! 🫤🧐

Well it would seem OF and Eli have been well a truly "screwed" power and politics!

Direct article on San Leon's Nigeria financing in this week's Irish Sunday Times is not confirmed in recent top search results. Official company updates on the German bond loan predate this Sunday.

GTJD - thanks for your last comment. I had in fact moved on from the apparently " deceased" ACOES that SLE proposed and intended to question how much we were worth when considering OML 18 as o whole.

Your postings indicated you and others were aware of the current Eli "predicament" but refrained from posting this "inside" knowledge - please always feel free to share any insider information with this board in future, thanks.

SLE valuation of assets in OML18 while we wait to be relisted (somewhere and accounts to be issued) - with the operator now NNPC 18, and SLE ownership 10.18%? What's it worth if/when this behemoth gets moving again, assuming SLE doesn't get any of the loans back made to entities initially involved in our aggressive bid to own a larger share in OML18?

Update - interestingly the two vessels are currently anchored 3.16 miles apart and 19.9 miles off Bonny Terminal🤔💰

Update - Vessel Finder site reports that there is a Cawthorne FSO currently in the Port Harcourt area.

The current position of CAWTHORNE is in West Africa, reported 2 min ago by AIS. The vessel is sailing at a speed of 0.1 knots. The vessel CAWTHORNE (IMO 9290347, MMSI 356869000) is an FSO built in 2004 (21 years old) and currently sailing under the flag of Panama.

Sooo, what to make of it all - you tell me - going back to the fact that all this activity must be a great disappointment for Fanning, but it should benefit increased output from OML18, which is overall positive news for SLE, you tell me.

The vessel with the IMO given by AI IMO 9290347 is named as the Kriti ViGor which AI goes as the latest location being n the eastern Mediterranean.

At this point your guess is as good as mine, time will tell stay positive. 🤔💰💰💰💰

AI - has she got her knickers in twist or is Eli a different tanker than Cawthorne AI actually gives two vessels- Eli IMO is9164847 and Cawthorne is IMO 9290397.

Either way it will d stimulate an increase output from OML 18 in which we involved 🤔💰💰💰

Oh dear ever hopefully

The short answer is: They are two different vessels (or a vessel and an area), but they operate in the same general location offshore Port Harcourt (Bonny).

​There is actually an FSO (Floating Storage and Offloading vessel) named CAWTHORNE and an FSO named ELI Akaso. They are not the same vessel

A reminder - The FSO ELI Akaso, a floating storage and offloading unit offshore Bonny, has a storage capacity of 2 million barrels.

🎉💰💰💰💰💰💰💰🎉🎉🎉🎉🎉

The Cawthorne is a newly commissioned Floating Storage and Offloading (FSO) vessel located offshore Bonny, Nigeria.

​Here are the key details:

​Type of Vessel: Floating Storage and Offloading (FSO) vessel. This type of vessel is used to receive crude oil from nearby offshore platforms, store it, and then offload it directly onto crude oil export tankers.

​Location: Stationed offshore near the Bonny export terminal in the Eastern Niger Delta, Nigeria.

​Significance: It is noted as Nigeria's first wholly owned FSO vessel and the first new crude oil terminal commissioned in the country in 50 years.

​Purpose: Its primary function is to enhance crude evacuation and export from Oil Mining Lease (OML) 18 and surrounding oil fields. This is a strategic move to bypass vulnerable pipeline infrastructure, reduce oil theft, and improve overall operational reliability and security.

​Capacity: It has a large storage capacity of 2.2 million barrels of crude oil.

​Development: The project was a joint effort by the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Sahara Group, along with other partners like Eroton Exploration & Production and Bilton Energy

🤔💰💰💰💰💰💰💰💰💰💰

Https://punchng.com/nnpc-sahara-others-unveil-nigerias-first-wholly-owned-floating-vessel/

Interesting what's going on 🤔 make of it what you will 💰💰💰💰

Https://punchng.com/tinubu-to-inaugurate-400m-rivers-crude-export-terminal/

Make of the post what you will 🤔

AMG - aka smart ar-e - wake up from your little world you exist in there are people who live and work on other time zones than your GMT! As for when and where we will be able to dredge up the latest news I just say off hand Out of habit RNS or wherever, we are fortunate to have this site still active but then I guess they think it worthwhile to keep us active when there are amusing nitpicky posters like you around.

soo 245 your not a loser. i have news for you ****** we are all losers given the situation we currently find ourselves - unless you're a "hobby". why don't you go and play somewhere else. hoping for some good news this month but then who knows if any rns will appear.

it would be great if that boring repetitive windbag would accept the invitation to have a beer in port harcourt the trip could educate him in how the real world goes round. 💰

AMGD - Rubbish, you can do better!