Member Info for quelfromage1

The vanguard piece appears to confirmation of the deal signed a while back. http://www.nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/693/Exit-of-Cash-Calls-Agreement-to-Usher-in-Investment-in-Oil-Sector.aspx

Redeyemines Very good. This all makes sense. Posters such as sidhonest are just a small part of this manipulation. I for one take no notice of Sid et al or the rampers (dickie etc). I haven't bought or sold based on anything they say. QF

Hi redeyemines Have to agree. Sid is back for a reason. QF

Sid I think SJ is alluding to what might be your motivation for posting. ;O)

I should say so SJ

B7, rather than accusing bluerill of multi ids etc why not address his her assertion that "If that little ditty were even close to the truth in fact, then the shares would have collapsed already, no questions asked. Instead, the market is waiting pretty patiently for yet another awkward bump in the road for SLE"

The answer being, one hopes, that the right procedure was followed and all is fine.

Question is, why intentionally avoid what appears to be required legal procedure?

I would also add that, given their large stake in SLE, TFs lawyers must have looked at this too. There must have been a discussion on the SLE/TF side as to whether permission from the government was required.

Cj thanks for the advice. On reading the said document it looks like the intention is to cover all possible arrangements/ deals etc such that permission from the goverment is always required. Presumably the lawyers involved in the SLE related transactions were aware of this (how could they not be?). It must therefore boil down to a fine point of law or interpretation of such as to whether permission should have been sought or not. It is impossible for most of us PIs to make anything but a guess about the conclusion to this. I have to say that as a result of this latest debacle I have been very much tempted to bail out of SLE for good. QF

Cj SLEs point was that because their share was indirect it didn't require permission. I haven't been through the procedure you cited but a priori it's possible it does not cover this situation. It may come down to interpretation ... QF

I heard a rumour that there isnt going to be another suspension

Jess what are your thoughts? As said by others a decent set of accounts showing loan repayments and some income from the oml interest would probably kick start the sp. QF

No, never come across them before.

I have day traded occasionally but usually don't have the time to sit an watch for the rare ideal opportunity. I base it on momentum and volume which means you miss the biggest gains but get in and out quickly (and with a very tight stop loss) - UKCOG when it spiked to 11p or so was an archetypal opportunity. So, anyway, no price prediction of the kind you are thinking of.

Trying to forecast the SP for a specific day is setting yourself up to be wrong so only a fool would go there.

"�Clearly the market did not take this seriously �........really?youre a bit presumptuous,Perhaps you might reflect on the huge surge in the price of oil(77USD) and no discernible benefit to San Leon/Tosca or the SP,and it remains to be seen if Sle Tosca Isn�t the same jam tomorrow stock it has been for its entire history,my money is on the jam ." B7, agree that its missing the OP boost but the point remains that if the market believed there is any substance to the ST claim there would have been a catastrophic effect on the SP. Obviously your dear self and sid et al would have relished this as your money is on the jam as you said.

Redeye "That sounds exactly right JAX.---They were happy enough when the SP was around 54p--------------Now they are still holding the shares and are nursing a paper lose.-----Perhaps they thought that SLE had underwritten the SP @ 45p, in which case this has been an expensive lessen for them." By taking this action ST are destroying the value of tbe c70 mill SLE shares they hold. How does this make sense? Clearly the market did not take this seriously yesterday as reflected in the sp. But we'll see today.

B7 I would short the share if that's your view or go ans speculate on something else.

B7 "QF address the facts please ,several posters on here over the past couple of months have stated categorically that the SP would be far in excess of .24-25 p ..." Fact is you would have to be stupid to believe that without looking at the facts and deciding for yourself.