Member Info for ManuDave

3,010,618 shares traded already.....

San Leon Energy Plc

("San Leon", "SLE" or the "Company")



Update on New Alternative Crude Evacuation and Storage System, OML 18



The Company is pleased to provide an update on the new alternative crude oil evacuation and storage system ("ACOES") on OML 18, onshore Nigeria. As described in the half-year report released on 30 September 2019, ACOES is being constructed for the purpose of transporting, storing and evacuating crude oil from the OML 18 export pipeline ("Pipeline") running from within the OML 18 acreage and down to the open sea to a dedicated Floating Storage and Offloading ("FSO") vessel named ELI Akaso.



The ELI Akaso is expected to arrive shortly into Bonny port. Energy Link Infrastructure (Malta) Limited ("ELI", the third-party provider of ACOES) has informed Eroton, the operator of OML 18, that the following activity is expected.



- All government and regulatory approvals for project construction have been received;

- February 2020: site mobilisation;

- March 2020: installation and completion of the Cawthorne 2 & 3 pig launcher and receiver platforms; and

- May 2020: completion of pipe laying, and commissioning of ACOES.



Oisin Fanning, Chief Executive Officer, commented:

"The operation of ACOES is expected to be a major catalyst for the success of OML 18. We have long described the challenges to pipeline losses and downtime on the existing NCTL pipeline and ACOES is expected to reduce both significantly."





Enquiries:

Will we see an rns today confirming the new allocated shares taking us from 99m to 112m?

website & LSE shows 99m atm

Morning Red

I think we've known for a while someone is drip feeding shares into the market. Any small rise is sold into so it seems almost 100% it's Dyani who has been selling.

Hopefully not too much longer for some news..........he says.

A recent addition livinhope - as I've just check back the last few screenshots from L2 I've done over the last few weeks.

Transaction in Own Shares and Completion of the Buyback Programme





The Company announces that on 21 January 2020, pursuant to the authority granted by shareholders in the Annual General Meeting of the Company on 27 September 2019, it purchased for cancellation (through Cantor Fitzgerald Europe acting as the Company's broker) the following number of its ordinary shares of EUR 0.01 each in the Company ("Ordinary Shares").



Date of purchase:

21 January 2020

Number of Ordinary Shares purchased (aggregated volume): 42,933

Volume weighted average price (VWAP) paid per share: 27.95 pence



The Company also announces that it has now completed the buyback programme initially announced on 18 October 2019 (the "Buyback Programme"). Under the Buyback Programme, the Company has repurchased 5,709,101 Ordinary Shares at an aggregate value of £1,570,085.49. Following cancellation of the 42,933 shares repurchased on 21 January 2020, the total number of Ordinary Shares in issue with voting rights will be 449,913,026.





For further details please contact:

I bought 1500 - the most I could get!

I tried a dozen times to buy yesterday afternoon but couldn’t ( except going for n/t)
Tried several times today as well and can’t buy a thing....

I don’t live in the UK so I’ve never made an AGM - Pity really as it would be good to have met up with the directors and some of the lth.

Im in contact regularly with a few of the lth by phone and email so I feel there is a decent community to have sensible discussions with beyond these bb’s.

One day Marv .....one day.....

I don’t think they have the same outlook in Asia on using. coal as we do in the West - but yes.....sooner they start to dig it up the better as it’s not going away is it.

Locked and loaded myself too.......... (way too much if truth be known).... but you place your bets.....

Good luck to us all...... some of us have lived , breathed, and invested our hard earn for 11/12 years now so we deserve a break!

Yes I have to say I am too.

I don’t really post anymore as the boards have become like a kindergarten - everyone looking for someone to blame for their losses......most annoying tbh.

From the finals rns :
“The Company has received a non-binding commitment from Polo, whereby Polo has confirmed its willingness to enter into an agreement to increase the Polo Loan Facility by an additional £1,200,000 from the end of January 2020 should alternative financing not be secured by then (the "Agreed Facility Increase") which, at the Group's current cash burn levels, would provide sufficient financing for at least the following 12 months”

It does make you think why would they put in .......“should alternative financing not be secured by then”. If they are confident they WILL need to take up Polo’s offer......why put that in?
It kinda feels to me they think it will be sorted out before ‘end of January’ and they won’t actually need to take this up - is it perhaps they just needed to put that in as a backstop/ safety net for the here and now for investors?

Overall I was pretty pleased with the rns - and genuinely think we are making progress behind the scenes ( if it had gone tits up I think we would have heard by now).

In danger of being ridiculed as a ramper here, but I know you are a long term investor of Gcm so I know I can have a serious conv with yourself! :)

Hope you re keeping well.
D

Evening Marv - good to see you back!

I have to say I haven’t been aware of the use of the word ‘captive’ tbh. Maybe it’s been used since the power plants have been put forward?

Are you more or less confident of go ahead after the finals - or the same?

Ahhhhh......the old ‘coal policy’.......gonna be signed off any day now! .... April 2010 I think that was! ;

Its been a long wait since 2008...... :)

Hi bonus- sorry it didn’t work out for you here (it hasn’t worked for most so far to be fair), I know you’ve been around for a while so good luck with your future investing.

18 October 2019



San Leon Energy plc

("San Leon" or the "Company")





Proposed Share Buyback





San Leon Energy plc today announces that, pursuant to the shareholder resolutions passed on 27 September 2019 at the Annual General Meeting, it plans to acquire ordinary shares of EUR 0.01 nominal value each ("Ordinary Shares"), up to a total value of USD 2.0 million (the "Buyback Programme"). In accordance with the shareholder resolutions, the Company is proposing to acquire the Ordinary Shares at a maximum price of the greater of (i) 105% of the average market price of such shares for the previous five days and (ii) the higher of the price quoted for the last independent trade and the highest current independent bid or offer for such shares.



The Buyback Programme will be independently managed by Cantor Fitzgerald Europe, the Company's Nominated Adviser and joint broker, which will make trading decisions independently and without influence of the Company within certain pre-set parameters.



A buyback of Ordinary Shares on any trading day may represent a significant proportion, or possibly all, of the daily trading volume in the Ordinary Shares on the London Stock Exchange (and may exceed the limit of 25% of the average daily trading volume, as laid down by Article 5(1) of Regulation (EU) No 596/2014). The Company may therefore not be able to benefit from the exemption laid down in Article 5(1) of Regulation (EU) No 596/2014. The Company confirms that it is not in possession of any unpublished price sensitive information, other than the information disclosed in this announcement.



Ordinary Shares acquired as a result of the Buyback Programme will be cancelled. The Buyback Programme will be funded from the Company's current cash balances.



The Buyback Programme will commence with immediate effect and will continue until the Buyback Programme is completed or earlier if the board of directors of the Company decides to terminate it.



At the time of this announcement, the Company's issued share capital is 455,622,127 Ordinary Shares, of which nil Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares with voting rights is 455,622,127.



There is no guarantee that the Buyback Programme will be implemented in full or that any shares will be repurchased by the Company.



Enquiries:

Indeed welcome back Marv - it’s been a while!

A few of the old duffers are still here! :)

Cheers Searcher - a good read!

Couple of snippets:

“No deep sea port facilities now exist in Bangladesh that could have facilitated coal import”

“Please note that Phulbari is a CROWN JEWEL coal field for Bangladesh. The required studies for environmental and social, water management, relocation and rehabilitation of mine affected community, rehabilitation of farming land have followed applicable international standards. On completion of all these studies by accredited mining consultants, Asia Energy as per condition of their contract submitted to Bangladesh government Scheme of Development (SOD). It is possible to conduct mining from here observing all safeguards against possible and probable impacts. It is now a big question why the government did not approve the SOD based on all scientific studies? If the government wanted, it could audit and validate SOD engaging independent consultants. But without wasting time and sitting on these documents, the government must take decision and give green signal to mining”

"Is this a test to see how long your post lasts gooner?"

Answer.....................not that long then!

Ooooooooohhhhhhhh..........it’s like that is it Searcher!!! ....lol

I’ve had a couple of top ups recently too Steve.......news can’t be far away now.... I can feel it in my water.... ;)

The water is the same water I referred to 10 years ago when I first bought in here... lol