Member Info for BlackSwan

Jeez another Financial adviser and broker - how many do we need - doesn't OF make any decisions himself - mor jobs for his friends?

Looks increasingly likely the options ahead for OF intentions of returning cash to SLE shareholderss will be share buy backs - not too sure that.s going to give the small individual shareholders much benefit at this point - hey ho business as usual - Yes I am a long term shareholder as many on this board well know.

A) SLE RNS commented that Midwestern oil and gas wanted to exchange shares for the the loan notes made to them by SLE - SLE seems to have refused - Question - What else do we have to pay with for any shares in MLPL - nothing - OF knew before this game even started yet he carried on letting the market be infused with RTO rumours or did MLPL see a high the probability of the money coming through from NNPC and backed out of the deal with SLE as being not in their financial interest at this point in time.. B) RNS says dividends can be paid only when certain clearances have been made with the Irish high court presumably linked to the closure of the avalon :event: - why hasn't this been done already - OF has had six months to sort this- so what's new here after six months of suspension?

Sle been off the market for six months - personally I was expecting more of a transformational wheeler deal led change to come through after as long as six months suspension what with the hiring of new corporate staff and all - seems the more things change the more they stay the same - nothing after six months - what has really happened here?

Who knows if Nigerian money continues to be shall we say " slow" in coming through then wll SLE finish up with more of MLPL at what could be a more advantageous price/deal - cake and eat it comes to mind.

A) "�sing capital income (loans) SLE will progress with capital reduction - to allow capital returns to shareholders: I wonder how that one will manifest itself in reality??

GPB - Thanks, yes EV post on iii interesting indeed - I have always maintained from when I first started posting on SLE that Tosca isn't interested in becoming an oil company per se they are a bank wrapped up in a fund who only want a percentage of everything they can profitably get involved with - IE bankers want only a percentage on everything - spreading the risk. Look forward to EV opinion of Tosca

redeymines - Duh! - Yes mind in the wrong place - I was trying unsuccessfully to date to get a thread going with opinions from posters with far more experience of stock listings and company structuring than I have ( the BBs seem to me to be a clique with many knowing each other - ramp up ramp down maybe not even invested there seems to be a complete lack of out of the blue genuine commentators only eloquent repeaters on some sort of a roll) - but it didn't happen - I'm guessing your correct then again what do we shareholders really know of what is going on under the bonnet - I'm backing on whats good for Tosca will be good for the company and for us private shareholders?

correction - OML18 governed by JOA of which NNPC retain 55% Sahara 18% and Eroton 27%

The new constellation for Nigeria could take the form of OML18 governed by the JOA - of which NNPC would retain 55% Sahara 18% and Eroton 90% with Bilton 10% - Eroton Nigeria would be 10% Bilton and 90% Eroton which itself would comprise/absorb Martwestern/Bidco/Midwestern into San Leon. San Leon would re register on the UK stock market. SLE would achieve this using an exchange of assets involving the current loan to Eroton for a higher percentage share in the OML18 field and possibly other adjacent oil field assets. Speculation I know but what ever transpires on or after the SLE relisting it will be transformational for the company and us shareholders - I don't anticipate a major price increase min maybe 55p short term rising to 1.2GPP mid term but as OF said in his RNS actual dividends will not happen until considerable development has been carried out on the OML 18 pipelines and export facilities bypassing Barry Island to our own floating export terminal.

Does anybody know if San Leon given their financial relationships with PVR will benfit in any success with the eploration and development of the NewGrange licence - more value to SLE if that is the case?

Stephen54321 - ditto for me UKP 4 per share would just about break me even - given time it will achieve this and more - hang in there.

so this is the business model SLE are working towards = makes sense partner for future financing = seems everybody in Nigeria needs cash even the newly created local oil independent "national" companies.

The Company has been informed by Eroton that the timing for the satisfaction of these conditions is also influenced by the receipt by Eroton of the outstanding balance of historic cash calls from the Nigerian National Petroleum Corporation ("NNPC"), which was expected during 2016 but has yet to occur. Only once all the RBL debt service reserve account conditions have been fulfilled will Eroton be in a position to complete its audited financial statements for the year ended 31 December 2016, whereupon the Eroton Board will be in a position to declare and pay dividend(s) to its shareholders.

The $174.5m loan note payments of $19m per quarter include principal and interest - which doesn't seem a game changer when set against the capital requirements of OML18 - might be useful in paying salaries of you know who?

RM - THanks your "cheery" speculative posts on the immediate prospects for SLE share holders. In the last RNS we are told by the company I paraphrase - future payment of dividends are not expected until the impact of the alternative export pipeline and/or rig based well activity MATERIALLY increase volumes of oil. The interest income I am sure will "disappear" into the need to set up SLE infrastructure to accompany the organisational requirements of SLE per se. The other proposals you offer on company structure and share holdings sound exciting but given the "hold" SLE and Tosca have on us shareholders I don't see it happening - hope I am wrong on that. We are all beholden to NNPC to continue to pay for the oil/gas we produce and they do seem to be in the later stages of reform of their oil industry vis a vie government legislation but as of today they still have some way to go on thaat - we shall see. As is the case with "other" world countries who offer their natural resources assets for sale - if you don't like the way your treated (non payment) for example - we will find others whose terms of contract (Chinese for example) will. Roll on April for better or worse at least if any of us want to bail out - I deliberately don't use the word cash in - then a relisting would give us the opportunity - for myself I am so far down staying and loosing the balance is worth it for entertainment value.

GPB - with an average of 26p you should be on to a winner - what could be more important is losses have you taken to get it down to 26p - not my business but hopefully your on to a 4 bagger.

It's all part of the game for people to pound the company one way or another depending on whether they place their monies long or short- it's entirely different when the major investors and employees guide the companies capital into enterprises which only they are the main recipients of any company returns - as opposed to shall we say a "normal" investor who places capital into an enterprise in the belief that the company will make all attempts to produce the best financial outcome for investors rather than endlessly try to manipulate the companies financial assets to their own advantage irrespective of the outcome for private individual investors - looking at the history of SLE todate the later seems to be the case here - the next six months will very interesting to see how well the directors of SLE really consider the interests of smaller private shareholders.

Yes - I live outside UK to register on III - requires phone in and and so I'm for better or worse stuck on the LSE BB which as you are aware has it's more "excitable" commentators

quelfromage1 - Thanks for that - fake news maybe - comment I have twice tried to post a reply to you on this BB and both times it has not gone up on the board - I wonder MMM?