Member Info for redeyemines

This was all leaked in the Bangla press, back in Sept---via the draft of the IEPMP report.
-
-I said at the time that I was trying to get this report and spoke to the Company, asking if they had seen or heard about the report.---
----I even asked, that if they did not want to comment, could they give me a link to the story and let me make my own conclusions.
-
-All of this was met with the customary GCM silence.
-
-Now here we are, 7 months later, and again the story is being "leaked"-----you can bet your bottom dollar, that this is the direction the GOB are going to take.
-
----so where does that leave GCM ??
-
-up the creek---without a paddle.
-
-Two, state owned, underground mines, right next door to Phulbari, will be our death nail.
-
-They (GOB) will not risk putting "their" mines out of business, by OPM next door.
-
-
---All the arguments against OPM are totally flawed, but have been left unchallenged, by the Bangla Press and by GCM.----------we have sleep walked into a Cul De Sack.
-
-The value of crops lost, due to OPM, and needed to be replaced by imports would have been around $50 mill annually----This is against the value of the coal mined that would have saved around $3 BILLION in imports---
-
---Billion against Millions---it should have been a no brainer.
-
----WHY DIDN'T GCM EVER SAY ANYTHING?? -
-
-Barak has caused the houses to subside, the farm land to sink and flood and has polluted the near by water ways-----Dighip will do the same.
-
---------WHY ISN'T GCM SAYING ANYTHINY??
-
-our whole BOD needed an almighty kick where it hurts---but i fear it may all be too late now.

Non Ex directors come and go-----that's life.

Once this court case is out of the way, the $750 mill finance package can be completed, the RTO all wrapped up, and Sahara will be taken out of the picture.-
-
---Recommissioning and makeovers, will then see our production start to rise dramatically. 
-
-The pipeline should be completed and hooked up within the next few months, (just in time for our increased production), and oil will then flow straight into our FSO.-
-
---On top of that, ---it was heavily hinted at in the last RNS, that we have other marginal field producers, lining up to use our pipe line and pour revenue into SLEML's bank account.
-
--
--Do not get side tracked by those who say it's "jam tomorrow"---this is happening NOW.--
-
-Negative talk now is a nonsense, and is just being spouted by those with a trading position to protect.-
-
--Things will move swiftly over the coming couple of months, and real REVENUE will be heading our way.---
-
---------Not only does the SP look very cheap, but in my opinion----------
-
--------------so does the company. 
-
-Load up those ISA's

With a few days break coming, it's worth sitting down and taking stock of where we are.--
-
-Firstly we have this action by Sahara /NNPC, and the resulting court case , which should be heard sometime in the very near future.--
-The action all stems around a lack of production and a seemingly lack of action from Eroton.---- I said before, that I think S/N can clearly see the progress that as been made and where it is rapidly leading, and they are trying a quick "land grab".-
-
-----This action will fail----not just because it never had any merit from the outset, but because events will now quickly destroy their arguments.-
-
--Forget all the nonsense that has been spouted on here about lack of progress in laying pipes, anchoring the ship, and barging oil---ect---
---Read the RNS closely and you will see that things are rolling and "the juggernaut" is on the move.-
-
--Firstly, we had been barging oil to a mother ship for a good while.---These barges carry about 10,000 barrels each and we have about ten of them.
=
--Our mother ship holds about 250,000 barrels, so i'm guessing that it is now full, and waiting to offload onto our Eli Akaso.---as soon as it is at anchor.-
-As Alaric pointed out earlier this week, our FSO was removed from the site, while problems with the anchors (layout, cables, and numbers) were resolved.-Now we hear that the anchors are almost fully laid, and it cant be long before the ship returns and takes up permanent station, ready to receive oil. (after a final bit of paper work no doubt).----
.
-----Think about this.
=
=--If i'm right, we have a mother ship that is laden with about 250,000 barrels,  sitting there ready to offload into our FSO, and no doubt barges full of 10,000 barrels a time, sitting there ready to refill the mother ship.
-
-That's $20 million worth a time.

..ABC.... You're playing a dangerous game. Don't try and average a short.

Fantastic news, the juggernaut is on the move.--Sort the court case out ,
-
- wrap up the financing deal, and we are off and running.--
-
-Eli operational by Q2 and by the sounds of this RNS we have already got other "marginal fields" wanting to use it.-
-
--My guess is that as soon as the financing ($750) is confirmed, then everything will slot quickly into place.--
---Workovers and recommissioning should be complete by the time ELI is ready, and we should move seamlessly into production and start to earn some very large amounts.-
-
--Strong Buy

Yes Searcher, this deal really doesnt get any better for Bangla no matter how many times you read it.
.
. If Adani produce power, then the make about 2 billion dlrs a year for the next 25 years, and if they do nothing, then they still make 1 billion dlrs a year for the next 25 years.
.
. How can Bangla have sleep walked into a deal like this.
.
. The GOB will have to pay over 55 billion dlrs over the next 25 years, but it is really the population that will bear the burden... They will have to pay 23 Tks for electricity, that was forecast to come in at about 8 Tks.
.
. Such a grossly inhumane bill for a poor nation, that nobody will blame them for tearing up this contract.

Don't think I can argue with you there P.-----Really feels that our BOD have been sitting waiting for events to come to them, rather than trying to make things happen.

I wish I could agree with you there Horse, but I can only speak as I have found.
... From his first day with the Co, I have tried to engage Keith Fulton in discussion about all things connected to our proposed project.
.. I have put all sorts of stories, thoughts, suggestions and ideas to him, in the hope of gaining some form of constructive dialog.... But I have failed.
.
. As others have also found, it is very frustrating just to trying to even get a teply.
.. When a reply was finally obtained, it invariably amounted to nothing more than "as per the RNS".
.
. You may feel that I should not have expected anything more, but I disagree.... Some of the conversations I attempted to start, at least merited a frank reply, and a sharing of thoughts, but this never happened.... A straight question, was always answered with total silence, no matter how many times the question was asked...
.
... This was no way to respond to genuine questions from shareholders.
.
. How many other shoulders have had the same experience.??.
.
. Taking all the silence and flat replies into account, I have come to one very sad conclusion.
.
. I just don't think Keith Fulton has any more idea of what is happening, than most of the long term shareholders have.
.
. Rather than being " in the loop", I'm now convinced that most of his knowledge comes from either press articles or questions raised by shareholders, and by what he reads on this BB..
.
. The only person that knows anything for sure is M. TANG

This is an absolute disgrace.... Years of total inaction, and shareholders bleeding to death.
.
. You would have thought that at least the directors would have put their hand in their pocket and supported the sp...... But not a bit of it..
..
. Not one director has actually BOUGHT an single share..
.
. Money for nothing eh Keith

Sounds like they are setting the stage, to open the other Petrobangla field at Dighiapour with another underground mine near Barak.... That would give them a total of about 5000 tonnes per day..
... Two State owned underground mines bear phulbari.... Surely they won't risk putting them out of business by OP mining next door.

The press in bangla never seem to be up for a fight.. They should be screening blue murder about the whole coal catastrophe, and pointing the finger straight at Shk Hasina.............. Now is the time we should go in, all guns blazing, put the proposal on the table (and in the press), and highlight everything........ What does it matter if we upset Hasina,.. She is totally corrupt and needs to be exposed.... We have nothing to lose now.......... Are you listening Keith.

They have just admitted, that for the past 20 years, they have not had a clue what they are doing...... When will their press start taking her to task

---Well this all looks very gentlemanly.---Everybody playing the game.
-
---Maybe i'm just being a bit cynical, but this look to me as if things are being manipulated to suit "one buyer", and I would guess it's to let the shorter close out. (ABC shorters still trying to unsettle people to generate sales )
-
-At a guess, I would say that every MM has been left the same buy order for the day, and are just accumulating what they can, before passing them on to the buyer later ---i'm sure this is what we saw yesterday as well.
-
-So they've raised the offer, to stop others interfering, (won't let you in below 20.90 ) and just hold the bid (19.3275 is the real price) ---and all of them are doing the same thing.
-
-Almost sounds like it should be illegal, --but there it is.
-
-As soon as this buy is complete they will let the SP will rise----
-
-Sounds like the SP has found the level, and looks ripe for topping up.

No sellers so they've gone round the mkt.. And still the earlier buys not showing.

All quing up on the bid, and still they're not showing the buys at 20 and above.
.
. Naughty naughty

---Just an observation----looks like the MM's are trying to help the short close.-----They have signalled they wish to buy @19.2 and are holding the SP down----- today's buys at 20 and above are not showing (yet)...
-
-keep em pealed.

Thanks for your comments Alaric, much appreciated.
---
-It has taken an age to wrap this deal up, and as time has dragged on it is easy to lose sight of what the outcome will be.
--
-But let's not forget--this is a $1 BILLION deal---and little old San Leon are right in the middle of it.
-
-In the 18 months since suspension people have been side tracked and found a use for their money elsewhere.-----The ABC shorting team have, time and again, milked this opportunity for all it's worth, and are at it again today (short still open from last week and spread more stock around yesterday and today), and while there is no news , they can make hay.
-
----Things should be nearing completion now, and it's time to re-read all the RNS's and understand this deal.
-
---Time to pay attention and maybe take advantage of these low SP prices.

Sure, nothing of this scale happens overnight, and SH's have had a long hard road while it was all playing out----but now it nearly has, and SH's could be about to be well rewarded.
-
-(why do you think NNPC/Sahara are so desperate to get their hands on things now ?)
-
-I'm not privy to what goes on behind closed doors, or what is in OF's mind, but one thing iv'e learnt over these years, ----never take your eye off the ball----Oisin Fanning is always "up to something", and i'm sure he will pull another rabbit or two out of his hat, before all this is settled .
-
----18 mill Euros over 13 years of genius sounds cheap to me.

Lets look back to around 2015.-----SLE was an exploration company that had leases all over Europe and North Africa for anything from Oil, Gas, Fracked gas, shale oil, and a few other things as well.----This was from a CEO who really had no experience in those sectors at all , but who was good at seeing the bigger picture, and making deals.
-
-As various attempts to strike it rich failed, you could have been forgiven for thinking that our CEO was down and out.
-
-But not a bit of it----he was still a deal maker, looking for something to get involved in.
-
-Then in Jan 2016 he pulled an enormous rabbit out of the hat---one that no-one saw coming.
-
-He arranged the near $150 mill finance for a Nigerian oil Co to buy out a Canadian subsidiary, and in the process got an indirect stack in an oil field---OML 18.
-
-Complicated beyond words (Eroton, Mart Resources, Mart Western, and Midwest O&G), that it left people shaking their heads, saying, --what the hell have we got involved in now.
-
-But our CEO was already ten streets ahead of everyone, and while everybody was looking at all the detail, of what was on the table, he was planning his next chess move.
-
-Don't think for one moment that Eroton could have done this without Oisin Fanning---and don't think for one moment that anything Eroton have done since, has not been proposed and orchestrated by Oisin Fanning.
-
-While we were all digesting this financing deal, OF was already looking at the production problems of the OML18 field.---A role that should have been down to Eroton, but that was about to benefit from a fresh pair of eyes.
-
-Theft and fraud were killing production revenues, and somebody had to find a way to reverse things----things needed to change drastically, and the financial structure would need a complete overhaul--deals needed to be done-enter Oisin Fanning------this was right up his street.---
-
----Sun Trust were the first to go (part of the plan from the beginning), and while everybody's attention was fixed on this, the big move to completely change oil production was being put together in OF's mind.
-
----Build a pipeline directly from our fields to our own floating storage and offload facility, was his answer, and so avoid all the theft and fraud----ELI/Acos was born.
-
--Make no mistake this was 100% down to Oisin Fanning.
-
---Then Sahara group were in his sight's ----but Eroton were short of the cash needed to get rid of them, and complete the production updates----more deals needed---enter Oisin Fanning again.
-
-You might not think that the $750 mill loan being set up for Eroton had anything to do with OF , but i'd lay a pound to a penny, that it has his finger prints all over it.
-
Now a RTO will complete the game and leave SLE holding a large % of OML18., and with a 100% interest in ELI---bloody fantastic when you look at how it has all played out, and all down to Oisin Fanning.
-
-