Member Info for redeyemines

Well there we have it.----No wonder the SP is being hit. - -All we have is �1.5 mill and if we repay POLO that will be down to �300/- maybe less as those figs were to DEC. - -It's no good talking to other parties in six months time-because we will run out of cash before then------maybe just three or four months time if we have to pay POLO back. - -Expect more fund raising.

---hands up all those that couldn't sleep last night

------While we sit and ait for news, i thought i'd take a few minutes out and relay a story i read yesterday. ---All too often nowadays we see big business have no concerns for their staff, ---the least whiff of trouble and the directors run off into the distance, stuffing their bonuses and pension pots into their pockets, while slinging the workforce onto the dole heap, and just fresh air in the workers pension schemes. - -A couple of days ago a fire completely destroyed a large Hotel. Now that you would have thought, would have been the end of employment for the nigh on 100 staff, but not a bit of it. -After making sure everybody was safe, the first statement from the directors, was about securing the future--no running off into the sunset with the insurance money, but immediately looking to rebuild and reopen.-Not only that, they intend to keep and re higher all their staff, and pay their wages while the re building is taking place.--- ---In these days of money, money, money and expendable labour, it just warmed my heart,

so you just keep on repeating history over and over with no aim or conclusion----what a total waste of time. - -For the record , my advice is that they are a STRONG BUY at anything under 40p.

Frus -----------can i ask you a question, just so that we can all be clear on exactly what it is you're trying to say. - -If the Stock comes back at 30p--are you telling people to SELL-or do you think they should Buy and lower their average price. - -If they sell on your advice and the stock rises to say 80p ----what will you tell them then ?? - -If you are telling them not to Sell but not to Buy either-----then again what will you tell them if the stock rises . - -Please just give a simple answer----should people BUY< SELL or HOLD.

Frus you're being too sensitive-----------------top and bottom of things is that none of us knows how or in what form this is going to return. - ----It could come back with a share split and we'll all have five times as many shares as we have now. ----Or it could come back, with a consolidation ---as you said.------Or it could come back exactly as it is now--we just don't know. - -Of course you're entitled to your guess the same as anyone else, and i'm entitled to mine.--really makes no difference at all at this stage. - -I'll continue to prod your cage when i think you're getting a bit over excited, but it's mainly just in jest.

----here's the best bit of your post. - -------"I am disturbed "---------lol

-----"You could end up with1/3 or less actual shares." - -REALLY frus, and how on the earth does your "concerned" mind arrive at that equation ???? - -If you want to unsettle people by slinging a bit of scare mongering figures around, why not say 2/3 or come to think of it lets say 85%----hows that eh. - -what absolute headless chicken tosh.

looks like a lot of switching coming out of Chariot and back into GCM

you speaking to yourself brother ---lol

Morning all-----------lets hope Tosca do take the stock instead of the cash (and why wouldn't they). 45 mill shares at a bombed out price just as we clear all our debts and start receiving a strong income flow---------------sounds like a really good deal for Tosca. - -----I have no problem with Tosca getting these shares (if that's how it unfolds), as a) it's only a relatively small amount and b) they are standing up when they are needed. - -so what's in it for us ?- - -----If they want the cash back, then they have helped us out with a short term loan that has seen the end of the Avob saga (and a few other minor debts) once and for all. - -------BUT - -----if they take the stock, ---where does that leave SLE. - -----We will be Debt free, and sitting on an income stream of $19 mill a quarter, which is due to start on or before Jan 1st------------ 10 days time. - --The stated aim of the company was to return 50% of spare cash to shareholders, ---so a Divi could be on the cards very quickly------then where is the SP 50p-60p 80p ??? - - -------------The timing of this suspension couldn't have been better, as for too long the City have taken our SP apart.----They knew the problems with NNPC would delay payments and give us short term issues, and they have milked it for all it has been worth. - -Now maybe they had one last throw of the dice in the Avobone debacle, and hoped to profit from the threat of winding us up, but they have been caught with their pants down and no chance of closing out any bad positions-------------it couldn't have happened to a more deserving bunch of ----. - -That's now their problem-------------------We can look forward to either an early Divi or a RTO either of which will send the SP northwards. - -Happy Xmas and GLA.

Maybe frus, cash is king-----pay off the debt and go into the new year cash richer------------where will that "spare cash" be heading------------shareholders maybe ??

Well said Richin, I couldn't have put it better myself.. - ----If nothing happens, no deal or RTO then we have $80 mill a year coming in, GUARANTEED--(funny how the na sayers can't seem to be able to grasp that concept)--and that's just on the loan notes.------------On top of that at some stage we will get the money owed to us for our interest in OML18. -As you say that $80 mill is enough to kick start a dividend stream of about 8-10p, which would put the SP around 100-120p. ---now add the OML18 cash and where are we then ?? - ----Now if we do manage to put a deal (or RTO) together with MW, and get our hands on some of OML56 and the other assets held by MW, then we really are off and running. - -Remember cash from MW does not involve NNPC, so will flow easily and directly, back to MW/SLE---where would the SP be then ?? - -Whatever the outcome of these talks, whether we stick with what we have, or we go for a bigger pie, SLE has turned a massive corner now-------- income, income, income. - -no wonder the death brigade are out in force----but constant posting and swiping at other posters will not change a thing------------SLE will rise strongly upon re-quote. - -GLA

----" those lovely folks in West Africa " are already stumping up funds, -----as well you know.--------Go and read the accounts and RNS's and stop trying to mislead people.

We have had about $25 mill since Jan 2017 and have just had another $5 mill.-----------you can't argue or disbelieve money that has already arrived--as you say----seeing is believing. - -On Jan 1st we have another $20 ish mill coming and then the same again on April 1st and again in July and in Sept----and with the guarantees that are in place, there is no reason to think that these monies will not arrive. - -With the fact that money has already started to come in, it really isn't necessary to sit there crossing our fingers and hoping it will continue,--- this is on going business.

-----So Avobone has finally been put to bed and many may have thought that the suspension was all about protecting the SP while this was sorted out.-------------but that wasn't the case. - -----we are still suspended-------------so lets not forget why. - -"Accordingly, the Company's ordinary shares will remain suspended from trading pending the termination of these discussions or the publication of an Admission Document. These discussions may or may not lead to a transaction being completed between San Leon and Midwestern." - -----GLA

- ------On or before Jan 1st SLE will receive $19 mill and then again on or before April1st another $19 mill and in July and in Sept.--------so about $80 mill in total --and that is JUST from the loan repayments and interest. - ------If we ignore any earning from our 9% odd of OML 18 until Eroton are in a position to pay-and just look at this $80 mill----what does that do for us . - -Pay Avobone and maybe a few other creditors and we're left with about $60 mill.--------that's bloody good going for an AIMS co. - --Now add in the earnings from OML18 and we have the potential to be sitting on a huge cash mountain.---------the stated aim of which is to return 50% to shareholders--------you do the maths. - -all that without evening talking about mergers, joint ventures or takeovers, and the upside here is very exciting. - -most of this could start happening long before we ever get re-quoted-------no wonder certain posters are trying their hardest to talk things down. - -Ignore all the on going carp (we've heard it all a million times)-look to the future.

What are you on about now Frus ???-----------just go and read any of my posts if you want--------------and then come back and explain what you're trying to say. - -life's too short to continue these sort of merry go round conversations

---Brother seven----please read the latest RNS - -The money is already coming in and will continue to do so. - -no amount of abusive postings are going to change things-----------this company has turned the corner, and is now earning money------lots and lots of money. - --if you,re short, then i'm sorry for you-----------if you're not, then you should be happy like the rest of the shareholders----your choice.

Brother 7 ----please try and at least read what i have written before you make another stupid post ----50% ---per cent----not----$50 mill.