Member Info for GetTheJobDone

So all the other shareholders on here are champs are they or is it just 36.8 that gets to you? Just showed this post to the guys in the office here, Ayo says you need a drink tonight as if you believe the ACOES assets are all well and truly in place, he is rolling around laughing. Akin says give your head a wobble and get your ass out to 9ja and have a look for yourself and Sunday (My driver) he knows wants to know if he should perform some black magic for SLE? :-) There might be economic interest on paper in OML18, but that's about it, hence I keep saying there is an election next year and you don't seem to be reading between the lines Bro....Do you actually know who owns Eroton? The contracted Cross Default and whatever other mechanisms you claim exist, how many returns have they earned you since 2020? Yeah I thought so, sounds like Scotlands result against Brazil the other night....But there is hope.....or there is always 3rd place........Signed Off.....

BR, currently in the office in Lekki Phase 1 Bro, there you go a bit of love. It might surprise you but there are quite a lot of Brits, Irish and Europeans in Lagos. Been here a long time. Great news on the stupid thing, take that as a compliment:-), just trying to get you guys to see the reality, rather than dream about pipelines being built tomorrow and making sh..t tonnes of cash stories....

However I know from your recent posts having read through a couple of days ago, you know its dead as well, or at least in Nigeria its finished aside from the Eroton relationship. There are much easier investments for SLE in the Oil Sector, which much greater returns that only require small fund raising rounds to get started, then use it as a stepping stone into bigger fields and developments, also much closer to home. (I have a great opportunity if OF is interested) Anyway enough, leaving work and off to the bay lounge. You know Friday Night finding and drowning sorrows, but on a high playing golf in the morning.......:-) have a good weekend...

BR, your opinion of course, whilst your sitting at home in UK, Europe or who knows maybe London or Dublin with your worn out keyboard posting inspiration. The reality is you are not here in Nigeria and being polite know absolutely nothing about what happened on the ground or what is happening. What you have left right now is equity in Eroton or whatever vehicle that ends up looking like. There is no pipeline, FSO or pumping up to 100k per day. Done, finished, the other shareholders moved on with that scenario. Whatever happens with Eroton is where SLE's future lays, as I said next years election has a bearing on that, not going to say much more than this. As creditors we lost a heck alot more money that most investors, so what we have in common is we were both screwed. There is a long way to go with Eroton in terms of how the relationship with NNPC pans out on OML18, many rumours floating around, but I wouldn't put them on here. But please don't sit there as a keyboard warrior claiming that every shareholder or Non-SH on here is thick and is out to get SLE, everyone reacts differently to investing in the right or wrong opportunity or losing money. Everyone directly or indirectly invested in this, everyone got screwed. Wherever and Whenever SLE relist, I wish them the best. Do not try and portray anything else other than the truth and I said to you a long time ago, maybe you need to come out here and see and hear it for yourself, or if in doubt send your keyboard instead. If there was any positive news at all on any front regarding this, don't you think you would have had some sort of update from the company, irrespective of being delisted, it is common courtesy to update a companies shareholders with good or bad news. I have had those difficult conversations with mine over this project, the company has not had the same respect for your fellow shareholders that I can see. Any SLE news in the last 2 years has been press releases, 3rd party organisations or websites, non of which are shareholders, correct me if I am wrong here.

Just checking on on this board, its been a while, whao lots of activity. A quick update from me, there is very much a class action going on between many creditors owed money by ELI, ourselves included, but I doubt ELI will be around very much longer to battle this and the reality is there is no funds to pay anyone. I understand that Eroton has paid BW some of the monies due but not all and it does not let SLE of the hook at this time, they are still very much on the hook and may have to come up with the rest of the monies for BW if Eroton can't. The FSO was inspected recently to see if it will be scrapped v being sold on for reuse by others, the decision was made that the scrap value was minimal and as I understand from last week, this vessel will be sold to another party for modification, upgrade and reuse on another block in Nigeria, that was always inevitable. I think this is wider part of any asset recovery to help creditors as costs have just sky rocketed since 2020/21. We believe Eroton are trying hard to raise cash as constrained as they are, but with so much owing to creditors and their own issues with NNPC that could be along fight, and BW taking a strong lead on that recovery process, the rest of us will come out of this with pretty much zero. OML18 under the operatorship of NNPC18 and Sahara is striving forward, I have read some of these chats and can say with confidence it is performing really well as a bloc, but lets be clear that has nothing to do with Eroton or SLE at all, those investments were made by the FG, NNPC, Sahara as the original ACOES died along time ago and Eroton lost the operatorship and could not bring the investment and delayed OML18. The new cawthorne blend is been very well accepted by refineries in the market moreso in the asian/euro markets. What does that mean for creditors and you guys, well Creditors, most of us in the last few weeks have realised that all parties in this ordeal have no cash, cannot pay bills that are long over due and in all likelihood may not be around for much longer, regarding SLE, no idea, if their equity increased in Eroton then great, but Eroton are very much a shadow of their former greatness in the industry, nobody ever talks about them anymore and that is the truth, there is a silent honesty in that as well. How OML18 pans out who knows, but with so much owing to creditors for the past failings on what was ACOES and prior to the successes that OML18 is experiencing now, i would not hold out much hope of any news soon. The driver here for you guys is what happens to Eroton and that is the million dollar question today. Hope everyone is keeping well and i hear it is as hot in UK as it is in Nigeria at present....

My humble opinion, the future for you guys really comes down to how the presidential election pans out in Feb next year, honest assessment. It is good to read though that SLE are having success elsewhere, that is welcome news after this Nigerian nightmare to date

Https://africa.businessinsider.com/local/markets/nigeria-marks-historic-milestone-with-first-950000-barrel-cawthorne-crude-export-to/d74cy30

I get these daily updates, thought I would share on here if anyone is interested as from a Crude Oil Price perspective, this is historical....

📉 Oil plunged 30% overnight: a historic collapse

The price of Brent crude fell from $119 to $83.92 per barrel in less than 24 hours — one of the sharpest declines in market history. In the morning, prices corrected to $92–93. The reason was Trump’s statements about the imminent end of the war with Iran and the US taking control of the Strait of Hormuz.

🇺🇸 US eases sanctions against Russia

The Trump administration is considering a partial lifting of restrictions on Russian oil to curb the rise in world prices. This further drove down prices.

🏛️ G7 prepares emergency release of reserves

The G7 countries are discussing the release of 300-400 million barrels from strategic reserves. IEA head F. Birol held consultations with Saudi Arabia, India, and Brazil, but no final decision has been made yet.

🛢️ Saudi Arabia cuts production

The world’s largest exporter has joined Iraq, Kuwait, and the UAE in cutting production due to overflowing storage facilities amid the blockade of the Strait of Hormuz.

🇶🇦 Qatar warns of global consequences

The Qatari Foreign Ministry said that attacks on energy facilities in the Gulf would have serious consequences for the global economy. LNG production in Ras Laffan has been halted.

🇷🇺 Putin: Russia is ready to work with Europe

The Russian president has declared his readiness to supply gas and oil to European buyers if they ensure long-term stability without political interference.

📊 Strait of Hormuz: an unprecedented crisis

Experts warn that a prolonged blockade of the strait could cause an energy crisis of unprecedented scale, with production halting in half of the Gulf countries.

bs, seriously forget about ai, no disrespect here but this is a load of *******s. what i posted today regarding eli malta is real, there is a link to the maltese courts service and those events are real.

bw never issued a winding up petition, they were granted leave to do so, but to this point have not and i suspect will not given recent events that disclose a potential settlement in discussions. indirectly we need sle to be very much alive and kicking if we are ever to get paid, but we will get settled that much i am confident in after last months judgement against eroton. but i nearly had a f...ing heart attack this morning when i read your post and my advice for what its worth is stop using ai. what you wrote is libelous and as red says, you need to stop posting google s..t, let the parties resolve this and like i said last week, it will work itself out in time, none of us are in control, but equally as a non-shareholder, you need to be mindful and respectful to your colleagues as shareholders about what is being posted.....

Please can you send the link to the Irish Courts service that states this, as I have just checked and there is nothing there aside from the January 13th Case. There is nothing on Interpaths website and from what I can see they update their media page daily. What is the source of the information? A.I?

BS, Brightwater didnt request a winding up order in January, SLE took the case to court to stop BW presenting a winding up order and lost. They new BW would be moving in the direction of an winding up order, so they took a defensive position, which any company would have done. BW have not since to the best of my knowledge actually applied for a winding up order, they clearly flexed their muscles in Ireland, UK and Malta, whereby they were successful in UK with the receivership order and successful in Malta winding up ELI Malta. Since then someone has offered to settle, but legally until that settlement is actually paid in full, SLE is on the hook and Grant Thornton are the appointed receivers for revenues only on behalf of Eroton, but that is different from what you are stating. Not taking sides here, but SLE were not wound up yesterday, unless you can present a link to the Irish Courts service that says otherwise.....

BS, SLE don't have a court ordered liquidation under the Irish Companies Act. Where did you get that info... Are you confusing the ELI Malta with SLE Ireland?

Was sent this link this morning, you need to use a translator to translate from Maltese to English.

https://ecourts.gov.mt/onlineservices/Judgements/PrintPdf?CaseJudgementId=159170&JudgementId=0

BS, regarding your last AI post, the Share side of it, not my business, but I am sure it will all work out for you more positively now, but just to clarify your latter comments and this is why you shouldn't read to much into AI, ELI no longer own the vessel, the SPM/Plem/Riser Works were never completed, nothing is attached to it apart from an SPM which I think was stopped part way through as that was Century's scope and they didn't get paid . More importantly, there is not a single metre of pipeline laid to it anywhere in the 3 phases. Some onshore works were done, but i believe these were now handed over or sold to Sahara, whatever type of deal was struck. The pipe is sitting in a yard in PHC (Driven past it many times in the last 5 years), This pipe in my professional opinion will not be used for any subsea project, it has an anti-corrosion coating which has weathered sitting in the wonderful Nigerian UV for many years, if it were to be used offshore shallow water, it may most likely need recoating. But more importantly Eroton don't have any operator licence for OML18, they are a partner in the block and whatever happens, pending their financial position improving over time, then its up to NNPC and other shareholders to decide Erotons operational involvement. Your comments around $220m required for the ships recertification, you said last week it was going to auction or could be sold for scrap, the scrap value for a ship like this is probably around $10m if that. I really don't think someone is going to spend $220m on it for a re-cert, but equally It won't be scrapped, it will be repurposed by whoever for whatever. The pipeline is not substantially complete! The pipe never got wet to begin with. You will note my earlier post regarding the new crude grade, that in part comes from the processing facilities onboard the other FSO Cawthorne. They are high-tech systems that allow for advance processing and blending.

I don't want to burst the AI bubble, but as Red says, it only reads and finds whats out there in the public domain and its unfair to put misleading info on a board like this.

The refinancing, when it comes by whichever party will clear down all the legacy debt, interest and costs, I know that will be a pre-requisite by NNPC and NCDMB as we like many other creditors have petitioned this, to ensure local contractors and parties have been made good.

Let due process take its course, there is so much to do when the refinancing comes, but the first step is securing the funding, second step settling all debts, third step resolving any and all equity issues, then they can all decide on what happens with involvement their after. The important thing is that this dispute is settled, that creates the enabling environment to start fixing things.

In the beginning it wasn’t anything to do with SLE, but in 2023 they stepped in and made it a legal obligation to settle in contract. Thats now history, it was obvious somebody would step in to settle this as they didn’t want their cash calls etc blocked. A positive outcome is emerging, things will look different but positive. Here’s to happy 2026 and beyond for you all🥃

Https://www.independent.ie/irish-news/oisin-fannings-san-leon-energy-agrees-deal-to-lift-winding-up-threat/a1877901454.html

Https://www.reuters.com/business/energy/nigeria-start-exporting-new-crude-grade-march-further-boosting-output-2026-02-24/

BS, i checked this morning and there is no auction, there are several winding up cases against ELI by various creditors for unpaid debts, but i was told until there is an outcome it will not go to auction, the vessel was also arrested, new term to me, but basically there are marine based creditors and marine laws for non-payment slightly differ from commercial law, which effectively means the vessel itself, can be arrested not the owners, very technical and none of our business, but learned something today....

I also received this link this morning from our lawyers, an overview of the recent London court case between BW and Eroton - https://caselaw.nationalarchives.gov.uk/ewhc/comm/2026/296

Interestingly in here it states, that ToscaFund paid this $5m USD not SLE on behalf of ELI, apologies if that was already known by all you guys.

The one thing you stated yesterday in a post..................... ''The good news is that the Administrator has physically secured Eroton's assets. He is legally empowered to view the "books," which may reveal exactly where the pipeline funding has been diverted''...............Everyone and anyone involved in this project from 2020 to 2023 has been asking this question as there was cash, thats what everyone was told and this court transcript would back this up. It will all come out in the wash. But ask your AI to triple check these statements. Just a mash up of companies, webs everywhere, with direct and indirect ownership, only people making any money out of this are lawyers as bloody usual...............but it will all get resolved and there will be some normality out of it all in time...Have a good weekend everyone....

Why does SLE have to cough up the cash? It is ELI for that one unless they did a guarantee but unlikely. SLE only has a small shareholding in ELI does it not? The only publicly known commitment on SLE is BW. ELI are defunct unless they come after the other shareholders, but shareholders are not responsible. Who was calling all the shots in ELI between 2018 and 2022?

I am about to leave the office and walk up to get a cold beer as needed today. Just logged into our public procurement account and I can’t see this auction? I can see the previous one back in 24 but it was pulled and taken over by either GT Bank or others. Unless there is an urgent rush to sell assets to pay these debts, I really don’t see this going to auction at all. I was told before Christmas it would get fixed up and potentially redeployed to another block at some point, but there are to many rumours over this vessel as it is the biggest asset. Can you send us the link please?

Just replying to RE and BS - It is unfortunate that SLE agreed to take on the debt on a Joint & Several basis, they are still very much on the hook for this debt today. i have spent all day with lawyers yesterday and there is currently a mad rush by creditors everywhere as a result of this judgement in London. SLE agreed to pay the debt on behalf of ELI, they didn't volunteer, they signed a legally binding agreement that would always come back to haunt them if the worst case scenario happened, I understand this was done in the spirit of the TRAM deal closing in 2023 and that $187m would be paid.

ELI paid a portion of the debt, as did Eroton, SLE paid $5m in August 2023. The part I don't understand here is why do that? Eroton lost operatorship of the block in March 23, NNPC18 took over, yes they contested, but it was always a losing argument for them. In August 23, there should have been a realisation that Eroton/ELI and Co were psbly never coming back in any operating capacity in to OML18, they would just have been a shareholder rather than operator, which has been the position for the last nearly 3 years alongside SLE and other indirect investors through Eroton. SLE had great spirit in doing what they did at the time, I just think they were ill advised about the future. Today BW has both SLE and Eroton on the hook for the remainder of this debt, Eroton now in the hands of receivers lose all revenues via profits, dividends, cash calls in OML18 as do those related to Eroton until the debt is repaid with an 8% interest added per annum plus receivers fees etc until full and final settlement. With the frequency of cash calls, it is estimated this could take 2 to 3 years to repay this debt, not ideal at all for those parties and I doubt BW will wait that long, they will make a lot more money no doubt. I was told yesterday that the best solution here is that Eroton/SLE find this cash ASAP and pay of the debt soonest, sort their affairs, equity and differences and sit back as shareholders and await the returns. Whilst on the surface SLE look to have a reprieve, sub surface, its as volatile now as it was 3 years ago and the London Judgement, just awakened sleeping dogs. Between them they need a cash investor/funder, dilute if necessary, sort the debts (not just talking about BW) but everyone else as well, because they will come. Talks, discussions over the last couple of days have been all about creditors getting fully repaid or taking discounted offers of settlement when they come, the London case was just the tip of the iceberg here. The sad thing is as I said earlier, all intentions were honourable and meant in good spirit at the time these agreements were made. Its not the win/win everybody wanted, but with work to do, it will just be a different type of win/win. We are not happy, but eventually we will be repaid either by a discounted early debt settlement or we ride it out on instalments, that is just not interesting to us at all. Positive Dr

Https://m.independent.ie/irish-news/receivers-to-be-appointed-to-firm-linked-to-san-leon-case/a1602688502.html

https://insolvency-insider.co.uk/p/english-receivers-appointed-over-nigerian-oil-revenues

https://www.twentyessex.com/commercial-court-grants-receivership-order-over-oil-revenues-in-us16-5-million-brightwaters-dispute/

https://www.solicitorsjournal.com/sjarticle/brightwaters-energy-v-eroton-english-court-appoints-receivers-to-enforce-nigerian-judgement

They had two parties to wind up as the debt was joint and several, this ruling is significant though as BW from my interpretation of this and just talking to my partner went after Eroton’s cash call from NNPCL. So by appointing receivers Grant Thornton they will need to be paid all monies due to Eroton from NNPCL and anywhere else for that matter until the debt plus all costs are repaid. I am betting all creditors will use this ruling for the same purpose if they can legally. So it doesn’t wind them up so to speak, however this could take time and alot of time as the frequency depends on NNPCL cash calls to their partners on the sale of crude oil. I can personally see this taking 2+ years, so in theory BW shouldn’t wind up SLE, however since it is a debt that is joint and several it still keeps SLE on the hook as BW may not want to wait 2+ years. It all new info and we have a lawyers meeting on Wednesday to try and make sense of our own cost recovery based on this new development. Also been told this evening that the Petrolex v ELI case is due back to court soon.

This is significant though, just hope it keeps the heat of SLE. This really needs the current operators to step up and increase production. Will update of any new info later in the week.