Member Info for Callasjunkie

Just for good measure, San Leon Eli's holding company, San Leon Energy UK is also 3 months overdue in filing it's 2022 Accounts.

San Leon Eli is registered as a UK company, with Price and Tedder as directors.

It came close to be struck off in 2022 for not filing it's 2021 Accounts (the Registrar had published notice in the Gov Gazette).

Those accounts showed the only asset to be a $2 million prepayment for shares in Eli Malta to be purchased off Okoloko's company, Walstrand.

Today the 2022 Accounts are over 3 months overdue.

Afamefuna, although it's academic, the prospect of an Order for Discovery is salivating!

Although I greatly doubt that SamAlaric is a shareholder, I'm wondering if it's one of the unpaid creditors of the company. Might explain a lot?

I don't normally respond to juveniles on social media but.....

They've had 7 years to think about it....but as the Eurovision song winner goes "What's another year" LOL

I might be wrong as one would expect a services contract would be with Eli Malta, not San Leon Eli.

Equally I'm sure that San Leons contract to buy Ocean's shares would have been littered with caveats regarding obtaining funding.

As usual, shareholders are in the dark.

However, courts will not usually list anything but substantive actions.

It's being assumed here that the winding up petition relates to a failure of San Leon to purchase the shares in Eli from Ocean Pearl.

There may be another explanation.

I'm assuming that Ocean Pearl is not only a shareholder but provided services to the ACOES. We know from SLE that Eli is broke, so the petition could well relate to unpaid bills. Furthermore is it coincidence that the famed 'mother ship' is called the MT Sea Pearl and received 5 barge loads for onward delivery to the Eli Okaso months ago. Naming coincidence? An internet trawl has failed to identify the Sea Pearl's registered owner.

Let's consider what a potential lender/investor of a substantial three figure $millions should require in assurance with respect of a company that has been suspended from AIM and by it's own admission, it is being pursued by creditors, as is the company Eli in which it has substantially invested and promises more.

I would insist on up to date audited accounts before I parted with a cent. Furthermore, I would have my own accountants vet the unaudited 2023 Accounts. Otherwise you'd end up possibly like Tri Ri, possibly spotting something which you should have known earlier very late in the day.

As with all SLE communications, what is left out is infinitely more interesting than what's disclosed.

For instance, the much hailed barging operation to the Eli Akaso.

Eroton, when it was Operator, commenced barging operations in May 2022, transferring 5 cargoes up to Sepember 2022 from Cawthorne into the MT Ramaha.

In August that year, Eroton gained 'ship to ship' transfer approval relating to the 'mother ship'. So those cargoes were tranferred to the 'mother ship', MT Sea Pearl, ready for onward transmission to the Eli Akaso.

And then nothing...no information whatsoever. The MT Sea Pearl remains anchored in the Bonny Channel.

However, in July 2023 it was reported in the Nigerian media, that a judgement for an unpaid debt was filed against Eli and in August 2023 an attempt by a Sheriff and accompanying police to take possession of the Eli Akaso was repulsed by armed men.

Now SLE is saying that barging operations will BEGIN in a few weeks time.

What's my take on this? It has never been reported that Eroton had gained 'ship to ship' approval from the 'mother ship' to the Eli Akaso. In light of what is reported to have happened in 2023, will the permits be in place to do the final transfers? As NNPCL is now the Operator, if it backs the whole ACOES project, then this may be possible.

If not.........

36800, there we go...desperation setting in!

QED

36800, SamAlaric as Afemafuna so accurately describes him, regularly go through this cycle of infantile behaviour and when deparate, suggest libel, etc.

Quite humorous really.

I haven't yet been accused of acting for "the Dark State". Maybe they can can bring Liz Truss on board!

Here's some articles from the Dark State:

https://www.irishexaminer.com/news/arid-20083260.html

https://www.irishexaminer.com/business/arid-20078354.html

Bullbarz, you'll remember that both Soros and BlackRock (largest investment fund manager worldwide) invested here before they saw the light..so we have all made the occasional bad investment.

That Fanny has pulled out over 18 million euros in the last decade or so, for abject failure, is a testament to something.

Fanny's track record of failure and creditor litigation, ever before San Leon, was public for all to see...also ignored by Soros+...which I find hard to fathom.

Little Sam, I'm sure there's help available. But in the interests of mental health, if my posts upset you so much, why don't you just filter me. But then again, I guess that's not what your daddy and you are here for.

Maltese case to wind up Eli adjourned to 24 May 2024....(7th hearing) at request of Eli to present further evidence/affidavits. Court will then decide if it needs more evidence/affidavits !!!

Afamefuna, I think its a safe bet that Eli is hoping for TRi Ri v2.0 to descend from heaven.

Very unlikely to have Accounts until this is resolved and therefore, yes , re-listing probably more remote and de-listing a step nearer.

Important day, this Friday, 23rd. Sixth hearing in the case brought by the pipeline contractor to have Eli wound up, in the Malta court.

SLEs admission that Eli hasn't complied with a previous court order should spice things up.

t

From 2022 Interim Accounts;

"In the six months ended 30 June 2022 US$0.3 million (six months to 30 June 2021: US$0.8 million) has been

received by the Company in relation to payments due to San Leon under the MLPL Loan Notes. San Leon

has agreed with MLPL, Midwestern and Martwestern to a Conditional Payment Waiver to 31 December

2022 to allow for the completion of the Proposed Transactions. As at 29 September 2022, the Conditional

Payment Waiver relates to US$108.8 million, being a principal amount due of US$82.2 million and total

accrued interest due of US$26.6 million, which will be payable 90 days after such expiry, save for, inter alia,

if there is an event of default."

We already knew you couldnt do simple arithmetic....now we find you cant read either, Alaric.

Mdumba, the Financial report at the introduction to 2022 Interims states that $108.8m of the Loan Notes was outstanding at 29 September 2022, being $82.2m principal and $26.2m interest.

36800, I wonder if Fanny is trying for an entry in the Guinness Book of Records as the world's most litigious/litigated individual.

https://caseboard.io/cases/70f6d974-8632-4c2e-866c-33d9c7ce37f0

Tenn appear to bea property bridging financelender

36800, you're too kind to the sainted (by Alaric) Okoloko. He's also Chairman of Eli Infrastructure, so that's four companies in deep financial manure. I've made the point before that under 'genius' Okoloko, Notore sells in naire but borrowed in dollars. So when the naire devalued, Eli's debts have gone through the roof., from an already dire situation. As their gas debt is due to Eroton (on behalf of oml18) it still remains unpaid. Interesting legal situation.

The NCTL and related OMLs were known to be a basket case as far back as 2013. Shell and it's partners sold out pipeline and 4 OMLs for over 5 billion USD., including OML18.

https://www.shell.com.ng/media/production-updates/spdc-raises-alarm-over-increased-crude-oil-theft.html

And then along came San Leon.

If. you want to experience irony, read what SLE Chairman, Sunmonu had to say when he headed up She'll Nigeria

Hi Hx.

Whilst SLE is listed on AIM and subject to it's own Rules, it's an Irish registered company and therefore, primarily, subject to Irish company law which in many respects is similar to the UK.

There is an obligation to file an Annual Return with audited accounts addended. SLE was due to file by 30 Sept 2023 but hasn't.

There are a number of fines and penalties, most drastic of which is to be struck off as a corporate.

There are also circumstances where a late filer may appeal to a court for an extension.

Well, what's happening behind the scenes is anyone's guess.

U