Member Info for bluerill

To the extent that the core group on this board is still around, though large quiescent, with what appears to be a reasonable buyer stalking the market, I will risk the wrath of the message board gods and declare: I miss Jabba. Well, 'miss' may be a bit strong - I'd still be the first to volunteer to testify at his sanity hearing - but it's my contention that the ONLY thing that gives trolls like Jabba and his vile little mini-mes any oxygen at all is simply the illiquidity that is corrupting much of AIM (for now anyway), and not just our share price. So I'd particularly love to see him try, for instance, his ignorant snark about 'icebergs' or his fake news rhetoric on Eroton, etc right now with a decent buyer roaming around making a mockery of all of his mendacious nonsense. Way harder to traffic in cut-and-paste self-love trolling when your only ally - an illiquid share price which can be pushed around with 5k shares thereby giving off the false impression of weakness, which then allows for the moist environment for these poisonous bacteria to grow - dries up. Just one decent buyer, largely soaking up the excess un-tendered shares from a few opportunistic hedge funds who took advantage of the silly discount on our shares prior to the tender last month, and we're on the verge of breaking 40p with nary a peep from the Jabba gallery.

Sometimes, illiquidity can work in reverse I guess

I posted this yesterday on advfn, but the site is quirky and I wanted to make sure he reads it I would note that Notore floated last year already, so my bad on that....

Correcting you is pointless. You post utter nonsense - forever and a day - you never respond to the corrections, and you have no shame. Suntrust is a 6-person outfit run by rogues who have even less scruples than you do, cynically exploiting a country with no libel laws. They have taken a minor dispute and used made-up websites to float an utterly idiotic story about eroton's financial health, etc, which any halfwit could see right through, especially as its a complete rehash of the same fairy tale they tried to float months ago; that is if that halfwit had even the tiniest shred of intellectual integrity. Eroton's financial position is certifiably robust - Jite is in fact likely to float Notore this year or next as well - while the OML18 licence is likely going to be among the earliest renewals (in a 2019/20 period which in fact will see the lion's share of ALL licences in country coming up for renewal), given the Group's success relative to many of its competitors in restarting its drilling campaign.
Shame on you who have no shame in trying to traffic in such transparently malicious fake news in the hope of what exactly? Getting some poor small shareholder to panic sell his shares? Or perhaps, even more cravenly, hope the share price falls for a day or 2 so you can proclaim your genius to the world from the basement of your miserable existence? How very dignified.

let's just start with the claims of distress at eroton in a on-line, no-one-has ever-heard-of-it digital site, and cross-reference that with what I wrote below, which is based on vetted information released by a public British company. thankyou, next

what's more, its brought to you by the same bandits and liars that brought you the previous nonsense involving suntrust and their bogus litigation

it is not reported in ANY reputable newspapers and every single word is a lie coming straight from the outlaws at Suntrust.

couple of things/corrections on maclean and OW's comments:

1. while we're certainly due a number of updates from well flow rates to a CPR on OML18 to an all-singing, all-dancing summary of overall production, service revenues, etc, and I do think we will get many or all of them in the near future, let's be clear, 2019 has NOT been devoid of important releases from the company. In fact, aside of course from the tender news which has proved so successful for shareholders, I would suggest that we have had 2 releases of news that add materially to the long-term value of the company already, though sadly, are as yet under-appreciated in our share price. The first was of course the drilling of our first new well, long overdue but so significant in that it was an immediate success, which allowed the rig to be moved to drill the 2nd so quickly that we have a reasonable expectation that any RNS regarding production may well include info on TWO new wells, not just one. The other reason the new drilling announcement is so important is that it extends and confirms the narrative derived from a PREVIOUS major RNS from late '18 that detailed the receipt by Eroton of significant NPCC cash arrears where SLE stated that this milestone would in fact lead to what the Feb RNS confirmed: a significant resumption of field development. Promise made, promise kept kind of thing.
The other major announcement of 2019 of course came earlier, in January's release regarding Eroton's massive capital restructuring, which was even more significant to long-term value for our shares (i've reprinted it multiple times on the other message board, but the troll under the bridge over there seems to have a problem with its plain language and clear implications for the group), though I admit this also has not yet been reflected in the share price. I know I've highlighted this before, but with Eroton throwing off enough cash to have paid down some 40% of its RBL and THEN being able to refinance the balance on such attractive terms with just a single bank (down from 7, I believe), not only frees up 80m+ for investment AND future dividends (imagine what our share price will do if that NEW source of cash is confirmed sometime this year), but the signal it is/should be sending to the markets (both the stock market here as well as the O&G market in country) about the group's growing credibility and more importantly, its future relevance.

2. the reality of Tosca's super-majority holding lies somewhere between what Maclean and OW speculate. To start, they do not 'set the agenda' for newsflow; the company along with its NOMAD does that exclusively. In addition, though there is little doubt that the fund have big ambitions for this company (with a share price commensurate with its potential), do not ever think that Tosca, or any other hedge fund, ever takes its eyes off the care and feeding of the share price in the short-term as well.

bringing that troll's nonsense to this board.....sorry to all who object to my somewhat unilateral decision. I will explore registering over there in order to continue my periodic effort to expose his fake news. In the meantime, excuse me while I squirrel hunt from over here

'.....lots of experienced traders refer to a large sell order on the books as an iceberg, stopping the price from rising until it is removed. I guess if u are smurf and all your trading experience is from a book, u would be unaware of that simple fact....'

I am an experienced trader - not that that's necessary here - and what we have with sle is never referred to as an iceberg, you 5-alarm numpty, because an iceberg is specifically as I described it and the sle block offer is the precise opposite to an iceberg, which is an order that is largely HIDDEN form sight. Notice the operative word?

Add 'super-genius' to Jabba's resume as he provides an example that supports my point, all while his puffed-up ego thinks he's making his. #blissfullyignorant

'...Example of an Iceberg Order Suppose a large pension investment fund wants to make an investment of $5 million into stock ABC. News of the fund's investment could cause a massive spike in ABC's price within a short period of time. To avoid such a disruption, the fund devises an iceberg order that splits its original order into smaller lots of $500,000 each. ………;……?0; such a shame the post referred to a buy order and not a sell order, never mind...'

Could someone yank Jabba's chain and tell him that his sad and lonely existence is being interrupted, yet again, by his blinding ignorance? The relatively large block of shares that show on the market L2 depth - which in fact I explained fully in a 4 Apr post, including that it may very well be a drag on the share price for a bit - is doubtless the balance of a fund that took quick advantage of the arbitrage of the company's successful 46p tender. What was over 400k showing on the screen, is now in fact a bit over 200k, so it is getting reduced without undue impact on our share price, also as predicted. Leaving aside that this desiccated soul is taking almost unrestrained glee in a grubby little fact of life when dealing in small company equities, but he continually misuses financial terms in doing so, in order I guess, to make himself sound competent? An 'iceberg' is NOT a large sell order that sits on the offer for a time and acts as a drag on the share price until it gets eaten away at. In fact, an iceberg is a large sell order that is HIDDEN on the offer side- that's why its called an iceberg, genius - where the seller shows a smaller size on the screen than his true total size and each time those shares get lifted, a new order (often the same number of shares) appears, so that the buyer - and the market generally - quickly realises that the seller's size is deeper than it appears, and the share price can suffer.

Ok, so small person, small (over and over and over and over) mistake, right? Well, sort of. Except for the fact that the seller deciding NOT to use an iceberg to try and shift his shares, but rather leave the entire size visible, is actually a (small) POSITIVE sign. If the seller (or his broker) sees the trading in the underlying shares as not healthy enough to handle showing large orders on the sell side of the book, they will THEN often use more deceptive techniques like icebergs. If however, a name like San Leon is judged to have sufficient liquidity and general investor demand around current price levels (because of positive trends in its underlying business and/or a commitment to capital returns - both of which of apply here of course), then they will lay out their selling interest in plain sight, confident that a bit of patience and their business will get done. Personally, I really try to show similar patience for this cut-and-paste merchant, given how central message-posting seems to be in his empty life, but his malignant intentions combined with ignorant bravado overwhelms sometimes.

i would declare the same, except I don't seek empty gratification from rage-messaging

I mean, c'mon (!), how does this empty barrel not keel over from an overdose of irony??? Scot shares a simple, detailed post full of both content and disclaimers, constantly highlighting where his biggest assumptions are, but overall presents a compelling case of why the shares are undervalued, a view I obviously share. Yet somehow this represents 'ramping' (the most idiotically overused and thereby meaningless words in an absolutely sea of them on these boards), and is thereby summarily dismissed by an obviously triggered individual who is blind to his own intolerance.

As the stay-puft marshmallow man lumbers pointlessly amid the towers of the message boards in a (sadly effective) effort to flood the zone with his vapid combination of 20/20 hindsight, patronising quotations from 1st year finance texts, and solemn testimonials to his own virtue, let us take a moment to consider the (only slightly altered) words of Samuel Johnson:

'Avoid, at all costs, being triggered by those of greater insight or intellectual integrity, lest you be seen for what you truly are: A shallow little man so desperate for the affirmation of strangers that you would say anything (2 FULL PAGES OF LITERALLY AAAAAAANYTHING) to retain their allegiance...."

Particularly relevant in george's 'rebuttal' to scott's asset value analysis. Man, stick to boring people with O&G technicals and stay away from just about anything financial, until you at least finish your reading list. And next time you claim to attend an EGM, for god's sake, PAY ATTENTION!!!

Just post the link, BS, and spare us yet more of your 'honest broker'/above the fray humble bragging. Talk about irrelevant.

sigh2
not the ownership percentages, you blithering buffoon. everything else. everything of consequence. all of your false claims/innuendo surrounding the structure and the ultimate risk(s) to san leon, instead of recognising that in fact, these loan notes are OVER collateralised, that the result of non-payment would be actually POSITIVE for san leon and that the structure set up to hold sle's economic interest in OML18, through which those payments are made, was done for tax-efficient/corporate reasons and nothing else.

Listen jabba, don't flatter yourself. That little thing I mentioned earlier is interfering again; you know, life. I actually have one.
One of the problems is that your output is so overwhelmed by useless cutting and pasting, the actual content is often difficult to dig out, you clearly have post under multiple nicknames, there is the various buckets to sort out first; lies, dissembling, results of knowing nothing about the capital markets/corporate governance. And like I said, life. I have one.

However, since I know you get sad sometimes sitting there cutting and pasting and since this seems to be your entire reason for being, I'll leave you to chew on one of your Big Lies, spread on this board by Callasjunkie (if that isn't you, then you should check to see if you were adopted), but one which you constantly refer back to, often in ominous tones, one which I have recently schooled you in, but one which you showed absolutely no interest in correcting: The mechanics, funding and structure of MLPL and the repayment of the loan notes to SanLeon, and the nature of any risks for our company. You have consistently misrepresented everything to do with this. And as I said, since I can't know why you do this, whether intentionally due to some perceived insult done to you, or due to rank ignorance, I can't call it a 'lie' outright, but I can call it typical.

Otherwise, you need to look into this life thing. Beats yanking on your chain all day

Is that the best you've got? Liberal elite?? Incandescent (spectacular misuse of a 4-syllable word in an clear attempt to appear (over)educated. Classic squirrel). Smurfs? Dead sheep??? What's next, you going to challenge me to a bake-off?

And by the way, you lie/get things wrong so often, I'm not sure you have any idea you're doing it anymore, to the point where I'm confident you couldn't give a damn if you have. Furthermore, I doubt someone like you has ever admitted he was wrong/ill-informed/shockingly ignorant of anything, let alone printing something to that effect on a message board.

And one last thing. Lord only knows where you got the 'liberal elite' thing or think that I would find it an offensive slur, but remind me which of us has been busy lately mocking the grammar and spelling of 'someone who dares disagree with him', huh Mr 'Incandescent'?

'....The Tender Offer was oversubscribed so there are 30 million shares looking for a new home at 46p, the good news is the current share price is nowhere near 46p. ……. might take a while, meanwhile I'm waiting to be savaged by a Smurf....'

that is so epically moronic and transparently self-serving, I wouldn't waste a smurf brain cell on it, which is the usual level of bandwidth required with this particular squirrel.

sent that prematurely, but no mind....
as I started, I'll be back soon with a module on the tax-efficient structure set up to hold sle's OML18 economic interest, but first I thought I would share an insult poorly disguised as a pseudo-intellectual rhetorical question:

Didya ever notice that the worst kind of liar is the guy who is too consumed by his own resentments and too blind to his own intellectual and emotional deficiencies to realise it, who ends up saying just about anything to feed his unquenchable needs? Like cockroaches, only likeable.

with another module on how the ownership tax-efficient structure created to house sle's economic ownership