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Your post from Monday just about spells out the story I think. Lots of problems in the past but it looks like that's where they're staying for SLE now - I think we're all aware that some on here have predicted doom due to any number of scenarios over the years, with the latest episode being the Avabone claim, which is now thankfully resolved. A great deal has happened since the suspension, not least the Avabone resolution. With the substantial increase in the POO since, along with the receipt of monies owed and the recent developments re Barryroe; the company now presents as a rather different entity. It seems odd that the TO talk has gone completely quiet, given that this is why we remain suspended. I can only conclude that this must remain a possibility on some form or other. This said, given that the company is now a secure and stable cash-producer, with substantial growth prospects, then a rerate would be expected upon relisting anyway. As it is, the company would remain undervalued even if we were to see 200% upside from here - I suppose it's just a question of when that value is realised on the market. Certainly it looks a different prospect for the II's now, so the realisation of some form of value might not be too far away now.
I'd take that with a pinch of salt, much like the rest of the tosh on here. They'd have to go back to court and put some meat on the bones of the legal argument first and if SLE simply insisted that the obligation would be fulfilled, as they have, then the court would have to allow the transaction to proceed, or indeed not proceed and then take the requisite action against the new entity. The law doesn't allow for Avabone to wind up SLE. It's a legal process.
That the petition from Avabone has very little to do with the prospect of winding up the company and is more likely aimed at ensuring Fanning doesn't try to fleece them. Given the timing, I would imagine that some aspect of the proposed merger/TO throws up the possibility that the entity which was ruled against in the Avabone claim might cease to exist and could take the recognisance of the debt with it. I think the note about further assurances is relevant.
Your last two posts were very interesting and informative thanks. Something of a rarity on this bb, given some of the abusive drivel we see. I did initially think it a little fanciful but after a little research, possibly not and we can hope for it at least. Good work.
Sid and associate IDs have been found out lying and made to look stupid countless times on this bb. But they still keep posting - probably why most people think it's a contractual obligation. Quite obvious he's not even got a basic understanding of calculating percentages, which I think was junior school maths if I remember right.
Another poster has pointed out that you have made a very obvious error with what is a very basic piece of maths. Yet you still seem to want to argue about it. Either you're incredibly stupid or you just like arguing, or maybe both. FYI, if a stock falls by 10%, it needs to gain 11.11% to reverse it.
You're quite right - it does have a history of large spikes, usually after the institutions have loaded up on an engineered drop based around lots of false negativity and aggression. It all looks to be falling into place as you say - if I remember right, my previous best result was 240% upside. As you say, potential to top that this time.
SLE acquired the OML18 asset at a steep discount, due in no small part to the difficulties of operating in Nigeria. Since the deal went through, the company has endured a measure of stress, due to delayed payments, previous failings and Fanning's excesses. Now we're starting to see payments coming through, with the likelihood of a great deal more in the short/medium term and further increased revenue from the service contracts. Yet with talk of a bid very much in the air, the company is trading at a level below the value of the tax savings to be had from off-setting the losses of previous years, or more simply, the company is actually undervalued at present, even if you forget about its main asset and simply acquired the shell. Obviously the silly negative sentiment continues, as does the institutional buying. It's up 30% from the levels it was being slated at last week, so perhaps their sentiments should be taken with a pinch of salt - particularly those who seemingly have no reason to post.