Member Info for bluerill

Very well. I accept that I may have gotten a wee bit over my skis on this one. My (careful) apologies

I've been doing this investment thing for over 30 years and I've seen a lot, but this level of bloody minded mendacity is a depressing new experience. In aid of what, exactly? In order to be there to shout 'I told you so...' whenever a deadline is missed, or the vicissitudes of trying to grow a business in a developing company arise, or the oil price falls, or someone tries to sell a block of shares into an illiquid, bearish market? All risks - and more - of which current shareholders are well aware and which the current distressed share price amply reflects anyway. And yet despite such a backdrop, someone/ones seem to think it their mission to go to ever more ridiculous lengths to try and undermine - with little more than the bitterness towards company management that seems to define them - people's trust in the hard data right in front of them. Tragic

Virgin poster with a seemingly friendly demeanour, redundant recount of the investment case and recent news, volunteering of investment history with the company conveniently focused on 2 years ago, objectively meaningless nickname, emerging just as the run of news and collective mockery of other posters have neutered the remaining squirrel population.....nah, couldn't be.....

Don't follow ShareProphets, and I know I don't have much time for Tom Winnifrith as an analyst or commentator generally, but Steve Moore has a sounder pedigree and in short, is materially less of a self-aggrandising blowhard. His very first share tip for the new year? C'mon, how about a guess from one of the squirrels in the back?? Anyone? How about you? Yes you, with the mud on your face. What's that? I couldn't hear you. Could you speak up please?...That's right! SanBloodyLeon! How about that!

I'm sure I don't know about any copyright issues with these guys, but knowing Winnifrith's rep as a raging buttwipe even in repose, I will resist from reprinting the text here and leave interested shareholders to register at ShareProphets and read it themselves. However, be assured that it is a solid rehash of the story we have articulated on this board over the past several months, and Moore then uses the NNPC announcement as a logical inflection point in OML18's and thereby, the company's fortunes as - in my mind - the perfect moment to time his recommendation. Happy Joyous Merry indeed.....

Shame on you Alaric, sullying the good -Moover name, associated with high quality, mindless trolling since last week

You're on the right track. This deal is extraordinary for a number of reasons - the quality of the Great Bear assets acquired for some 50m vs 250m invested to date, among them - but arguably the primary one is the sheer serendipity of it all. Not only do Jay and Phillip know Prudhoe Bay/Alaska well (and are, believe it or not, thereby highly prized by Great Bear's heavyweight management), but Great Bear management know our assets - and clearly value them far higher than AIM does!

I am painfully aware of how utterly pointless it is for me to remind this board and all who sail upon her - especially as Alaric's response could easily suffice - but I guess I can't help myself. I feel compelled to ask how, even under your so-ridiculously-broad-as-to-be-totally-meaningless definition of how 'opinions' can be formed and then shared, BS, is it justifiable/defendable/reasonable to pretend that a brand new 'poster' whose attempts to appear Nigerian could not have been more primitive, was legit? Was that the result of your vigorous effort '...to discard or embed them into one's own attempt to comprehend was is the situation....'?? You know, I'm just curious so I can discard or embed it into my attempt to comprehend.

The good form. All that refers to is the Irish commercial court permitting the company's large net cash position to effectively cleanse its capital account by offsetting its historic negative retained earnings and thereby allow it under the current rules to engage in a return of capital to shareholders. That's it; just a technical accounting adjustment. I have explained it numerous times and it is spelled out in as many past RNS's,

sorry, i meant to write, '...by Jan month END.....'

Never anything simple with San Leon, and so has taken longer than I had imagined, but with a court application in the next couple of weeks and a roughly 2 week period required to 'advertise' its intentions, the Company should be able to commence a capital return by Jan month, followed relatively soon after by an update on the recently spudded well.

Never anything simple with San Leon, and so has taken longer than I had imagined, but with a court application in the next couple of weeks and a roughly 2 week period required to 'advertise' its intentions, the Company should be able to commence a capital return by Jan month, followed relatively soon after by an update on the recently spudded well.

It's getting so that contributions actually may have to link back to reality, so here's a bit of truth-telling: by month end, san leon should have over 50m increasingly valuable dollars (at least versus sterling) in the bank, its first major drill on its prolific acreage underway, and the path clear to begin returning capital to shareholders, with over 80% of its shares (note, that's what's called a real number) held by strategic investors (i.e., ones directly involved in developing and maximising the value of its ASSETS, and not just its share price). Roll on Christmas indeed.....

blackswan - read my 'finally' paragraph below as well and all will be revealed. Meantime, there are no 'further' doubts about our contractual position in Nigeria (whatever the heck that means), because there was never a doubt in the first place. There is ONLY one bad actor in an otherwise great deal who continues to try and make mischief even while it is increasingly marginalised and the company is moving on and developing OML18.

Smile. I am virulently anti-conspiracy theory, but it has occurred to me that the latest poster may in fact not be another ordinary squirrel for the other squirrels to claim as their latest champion, but rather precisely what his mangled syntax and appalling reasoning would indicate; namely, a Nigerian avatar created to try and promote this twaddle on-line, (Of course the other explanation, that the usual factory did in fact produce this latest genius confection complete with a Nigerian-sounding nickname and local vernacular (yo Mr. 'Boss'. This means you) is, in its way, even more troubling).

Again: there is no 'debt' to reclaim because Suntrust openly accepted sle shares instead of cash. And we know that because ST have happily confirmed it by SELLING 3/4 of their holdings, first 6m+ in the open market and then some 50m more directly to Jite for assets likely worth 2-3x the value of those shares. Now, very likely they are holding back the sale of their final 25m - despite a BINDING agreement to do so (and I'm sorry to correct you again BS, but this was not an 'out of court settlement') - likely in the hopes of squeezing out a final bit of coin out of Jite before slithering off into the swamp.

Finally, there is no 'best case/worst case', there is no 'smoke', other than the smoke these guys are blowing up some people's bums. SanLeon, I believe, WANT to appear in court so that a judge can actually hear the case, throw it out and very possibly punish the other side for a frivolous action. Don't you ever wonder then, BlackSwan, why this court date never seems to happen, but is constantly pushed back, thus providing the other side a convenient cudgel with which to fearmonger, yet at the same time, avoid having to actually make their 'case'? I do.....

Blackswan, please read my suggestion below - again and again if necessary. If you want to engage with me directly -
very important this - you must first make sense. The first step in that effort is that your 'comment' must necessarily link back to something I have written, a point I have made that you might take issue with or - far better for you since every third comment you make is impenetrable - take the form of a question seeing as so much seems to confuse you. To wit, your word salad about what shares I own or don't, and what that may or may not say about me and more importantly, the content I share with small shareholders on this board, is patently nonsensical and that's the opposite of what we're going for here.

And as for you finding me humourless and at times, obnoxious, well you know, that saddens me. Unfortunately, I tend to reserve my decorum and wit for my friends or peers, and since my strong preference is for my friends to be analogue rather than digital, you'll have no luck on the former, and as your last 2 posts are way too representative of the limits of your imagination, you will never be the latter.

i would suggest you stop suggesting and instead learn how to construct an argument so you don't end up writing nonsense. Hint: it generally starts with knowing what you're talking about instead of what makes you feel like a tough guy.

Below is in fact a completely incorrect and incomplete reading of the offering document. The conditions are not either/or. All must be satisfied, including Billiton becoming current, which you have conveniently left out, and which will certainly take a very long time indeed, if it ever does occur. In the meantime, the company would have to announce if their holding had - for any reason - come down by even 0.1%, never mind the 4% suggested. Bottom line: San Leon's stake in OML18 looks set to remain just below 10% for some significant time to come. This thread is patently ridiculous.

Everyone is free to make their own judgements on the content and personalities here, but having endured his pseudo analysis in the past, I believe this Junkie is a bad actor who - as he does on advfn - believes that cutting and pasting selective sections of formal documents and using phrases like '..... So, unless I cannot read English...' will afford him a veneer of competence and his conclusions a degree of credibility. I don't know if this person is a uniquely embittered ex-employee or perhaps really cannot read english, but In my view, on the overwhelming evidence of his posting history, his musings should be treated with extreme caution.

Sigh...No its not a very good question. It's a very silly question, which betrays a lack of understanding of this company, its assets, the arrangement it has with its partners, the stock market, how company's share prices are valued and even a rudimentary understanding of risk/reward. I know, I know. I'm being mean and in the end, not doing anything to advance the discussion, blah, blah, blah. Sue me

Friday's solid volume and price action seem to have been catalysed by San Leon's entry into the most widely-tracked micro-cap index, which promises to continue to produce real buying as markets recover. Today's volume meanwhile, also appears promising. Over 3mm shares have already traded, though 3mm of those have been registered as a 'cross'. Normally, professionals view such a trade skeptically, as large funds can often 'cross' shares between accounts within the same overall group, thereby making the normal interpretation of a cross trade - i.e., that it is a matched bargain between a genuine buyer and genuine seller - less reliable. However, in this case, since San Leon's institutional shareholder base is narrow as well as a huge reduction in the offer side of the market today, this is likely a genuine cross where a new buyer has taken out a pesky seller and we are likely to get a slow, but steady improvement in the share price as market professionals realise the supply-demand balance is shifting to a more bullish posture for SLE.

smille. very well put