Member Info for Callasjunkie

Anyone like to tell what the revenue from oil and gas sales are in the 2018 Accounts is, if you believe this company is an oil "producer"?

Nothing that Pavlov's dogs can say alters the incontravertible fact that San Leon is not an oil producer.

SLE is not a "producer", never has been, and is merely an investor through a shareholding in MLPL ,which owns shares in Martwestern, which owns shares in Eroton, the "producer".
If SLE is a producer, can you tell me how much oil or gas revenue was shown in the income statement of the 2018 Accounts?

Alaric, lots of suppositions re the golden tomorrow. But an error of fact: SLE is not a "producer", it is an indirect investor in Eroton and whose only cashflow is interest and principal on a loan and the eventual possibility of dividends from Eroton. 'Producer' my eye.

Alaric, are you saying that the FSO and new pipeline will be operational this year??

Thanks, QF. For Ireland's sake I'd really like it to come off. On the negative side, I put Fanning and O'Reilly in the same box. Their remuneration is in inverse proportion to their abilities (on behalf of investors that is).
On the technical side, the Barryroe crude is known to be significantly waxy which is going to make it difficult to extract, transport and store.
Unless things have changed in recent years, I can tell you that Whitegate Refinery is not geared to handle or process waxy crudes. I dont know how much investment would be required to change that, but it would be significant. I noted a long time ago that there is no record that the refinery laboratory was asked to assay the crude (although this could have happened outside the public domain.) In the past this prohibited Whitegate from processing Libyan crudes which were ideal in most other respects.
I've no direct experience in E&P but not good that it took so long to get a farm-out. That said, the Chinese are investing world-wide to secure energy supplies and yes, the shares are at very low price.

And that also assumes all PVR's licences have zero value!

After Providence Resources's farmout, it will own a 40% interest in the Barryroe consortium. Taking the conservative view that the SLE npi comes entirely out of PVR's share, that would leave PVR with a 35.5% interest and SLE with a 4.5% interest.
The market today values PVR at E44.0m
SLE values it's interest at E44.6m (Accounts, Note 17)
Conclusion: San Leon's Directors value PVR ten times higher than the market.

C

Tipple is creative! Good laugh.

Interims??

https://allafrica.com/stories/201905070353.html

http://www.newsrid.com/billionaire-onajite-okolokos-midwestern-oil-gas-eroton-notore-in-crisis/

Only problem with this is that Whitegate is not configured to handle or process waxy crudes,unless I missed an upgrade, so unless significant investment is made (and yes, it could be), the crude will have to be exported. Apart from the recoverability of the oil, wax is the next biggest issue.

Oh dear, mclean, you seem so very upset. You really mustn't read my posts if they have this affect on you.

On 1 Oct 2018 SLE put out an RNS stating that Midwestern had agreed to purchase all of Suntrust's 71m shares, of which 47m had already been transferred.
Today, the SLE website states that SLE has contacted the two Suntrust companies holding the balance to clarify their interest.
It begs the question why Midwestern can't supply the same information.... or is it that the transaction is stalled and even Midwestern are no wiser??

Good advice, O&W.
The NNPC 2017 statistical report clearly shows Eroton (total consortium incl NNPC) production to be 26,719b/d.
Where 142kbd comes from I cant fathom.

Dusterinmong, the word you were looking for was 'amadan'....be careful how you use it.

I didnt say that OML 18 was in Bayelsa but the Nembe Creek Trunk Line originates in Bayelsa and then crosses Rivers State. It is difficult to say how this might affect OML 18, depends on the terms of the agreements on sharing transmission losses, assuming the several media reports, including the UK Guardian are correct. We already know that Eroton are unhappy with these terms.

By the way, in my spare time I teach Adult. Literacy. If you want to send me an email I'll see w hat I can do.

Major pipeline explosion in Bayelsa state. Reports all over the place. However, it could well be the NCTL that takes OML18 crude to Bonny.

https://www.vanguardngr.com/2019/03/aiteo-confirms-no-life-lost-in-nembe-creek-oil-pipeline-explosion/

I abide by being polite to people. GBS's advice you might take note of : "Never wresgle with pigs. You both get dirty and the pigs enjot it. Compiche?