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They don't lie they just go along with any story told to them like on the 11/05/20 when Oisin "purchased" the shares...it took another RNS on 23/12/20 (7 months later!!) to say the shares had not been bought in the end. And obviously no the money has not been sent or it would have arrived by now. And if it was stuck in the clearance system then TRI and San Leon would know and would openly say do. Again the problem is that both parties are saying nothing at all. There s a reason for it and it s obviously not good and not good enough for shareholders to be told. That doesn't make sense and is suspicious. If there is a problem say it, if the deal is off, say it but saying nothing is not very serious or professional.
11 May 2020 07:00
RNS Number : 3676M
San Leon Energy PLC
11 May 2020
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
11 May 2020
San Leon Energy plc
("San Leon" or the "Company")
Director Dealings
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, announces that it has been notified that Oisin Fanning, Chief Executive, has purchased a total of 98,000,000 ordinary shares at a price of 21.0 pence per share on 07 May 2020. Following the purchase, Oisin Fanning has an interest of 107,495,864 ordinary shares (23.89 %) in the Company.
So TRI hasn't confirmed, denied or said anything about the money supposedly still in transit. Why would TRI goes into months of negotiation and hassle and decided out of the blue not to send the money, for no reason at all. If San Leon can't even get an explanation from TRI then what kind of partner was it in the first place. Oisin knows the reason but is not saying as usual then just move to the next project without a word and not a shame. What is so secretive about the money not being transferred? That what is suspicious.
So San Leon has "continued its dialogue with TRAM to understand the reasons for the delay, by TRAM..." and they still none the wiser? Someone again is not telling the truth : either SLE/Oisin either TRI. If there had been dialogue then there had been communication/exchange of information. So SLE asked "where s the money you said you sent" and TRI said nothing back at all, zero info? How could that be? If one party ask a question they get an answer, maybe not the one they want but at least you get one. Here, nothing, no answer, no explanation, no reason. I don't buy it. Makes no sense. The whole truth is not being said here for some reason. So what is the point of Nomad and RNS if it is to say whatever they want. Looks more likely TRI pulled out (without giving any reason whatsoever or where never in it in the first place but then why would they allow SLE to mention them along with "comments on longer term cooperation on the previous Rns). Seems like Tosca is not that bothered to be taken for a ride by Oisin again either, very bizarre..
Let s see if Santa Leon delivers this year or will take the opportunity to bury the bad news at a oh so convenient time (not that it would make much difference anyway) before starting all over again with another year long fairytale story in search of money. 13 Christmas so far with this outfit so not counting my turkeys. Come on surprise us for a change.
Oh I do remember! Was a right Panto, couldn't make it up...but here we are again. The money has either been sent or not. It has obviously not. Why? Why announcing a deal before the money hit SLE bank account? Oisin had nothing to benefit from it by announcing it early apart looking outdone and stupid. No shame whatsoever . So now he looks like a Muppet even if the money turns up let alone of it doesn't. Tosca must be well impressed by his latest antics.
So how will they ever get in touch with the previous shareholders if the hypothetical 5% on profit is ever be paid if all shares are cancelled? How do they intend to keep track/record. Not holding my breath about it though but LG said he would
It s not even a deal! 5% of potential future profits in/within 10 years...what is even the point! Small shareholders are not stupid and the larger ones even less gullible so unless LG cut a seperate deal with the latters why would they go for it? A decent X p per share offer now might have been acceptable but certainly not his offer, it s a crafty billionaire insult. I d rather loose the lot than being taken advantage. Hope that logp will chase Ryan and his department for millions. One can't fool everybody all the time.
No doubt Ryan will be rejoicing and celebrating looking at BEY downfall that he created, serving his own interests at everybody else's expenses, shareholders first and then tax payers when his government will receive the claim bill from LOGP legal team. Take him to the cleaners I say. Strange that BEY shareholders do not press the board to merge with Logp as options are more than limited.
This trio enjoy the drama and their sole and unique goal here is to wind people up until they get a reaction. The more the better and when they achieve this they feel they win. I never read or pay attention to anything they say; so utterly pointless to engage with them as they have absolutely no intention to debate but solely to disrupt. San Leon has £100 million + in the "bank" at the very worse and the conclusion of a transformational deal coming in the next few weeks, that is good enough for me. Ignore/filter the trolls, you are playing their game and wasting your time anyway plus will feel so much better and that will definitely wind them up.
Strange that the management never mentions what the options are (legal?) if Ryan keeps on ignoring BEY despite providing all the informations requested and so being legally entitled to carry on with developing the licence . Funny as there is law for everything in this world but not about a government member blocking a business operating legally. Crazy. Never trust a politician, they will always tell you what you want to hear until they are elected.
Funny that there is always a (negative) twist eventually with SLE. OF has great ideas and grand plans but he seems to always over do it and over complicates things. He can't do simple. He eventually gets entangled and has to find a last minute solution to the very problem he created by his over enthusiasm. He can't help himself. I have a friend who's like him. He likes doing things his way, an unconventional way and rather secretive. He gets himself into a mess and then spend the rest of the year trying to get out of it. Deep down he loves it. Simple is boring. To be fair he seems to always find a way out, a bit like OF but he also repeats it all again on a another "project" and nothing moves forward. He is like that. So 10 years plus later I m still waiting and hopeful that the ambitious but complicated mind of OF will eventually prove everybody wrong.
Typo : "messed about" "can change the law"
Saw that too. We ll find out eventually. LG is not here for fun or being about. The law and rules are on BEY side whatever ER believes, think or want. He can't change the law maybe but will cost the tax payer. The court will tell exactly how much.
These extensions sound stupid now (they actually did for a while already). Lots of copy paste and bla bla which translates as nobody's agreeing/ cares/has a clue. If it so good for all parties then it would be long done. But it s not. Now it s March. He might as well say sometimes in the future in 2023, 2024 or just say nothing because nobody believe nor care anymore about these meaningless RNS. After a year suspension the price went down. So if that deal ever complete don't bet on the price shooting up as there is zero interest from the market or anyone and can you blame them after so many years?!
Ryan s having the energy part removed from his portfolio during next month cabinet reshuffle wouldn't surprise me and convenient for the government.