San Leon Energy Forum

Guys, with all the great talk about how lucrative the OML deal is, the SP is stagnant. When, if ever, is it going to rise ?

what is the figure is that represents "sufficient funds" that need to be accrued before private investors get a return via dividends or other reward. Or perhaps more importantly why this figure is not in the public domain. Why would it bee kept a secret, as it seems to be? It seems very strange that no-one knows this extremely important figure that will undoubtedly affect our investment and surly the uncertainty of it will put off any potential private investor until they know what it is. It may be millions upon millions and take years to pay back before we get any reward for being shareholders.

so have they sold 450 miilion, less 10%, say $400 mill of gas for one euro ?

By Rafiu Ajakaye LAGOS, Nigeria Militants in the Niger Delta attacked three major oil pipelines, they said Tuesday, as they continue to target Nigeria’s oil and gas resources. The Niger Delta Avengers (NDA) said they had blown up the Nembe pipelines operated by Royal Dutch Shell, Agip and Oando in coastal Bayelsa state following a military clampdown in the region. The attacks on the pipelines, which have a combined capacity of 300,000 barrels of oil a day, were the latest blow against oil production, which has more halved since the militant campaign resumed in January. “This is in response to the so-called Operation Sharkbite, an act of terrorism commissioned by the tyranny of the Nigerian Navy establishment and orchestrated by some elements of the ruling political class to continuously undermine any effort to addressing the legitimate demands of the people of the Niger Delta,” NDA spokesman Mudoch Agbinibo said in a statement. The group said the bombing campaign would continue until the government responds to demands from local leaders.

TOSCA will soon own all the company at this rate.

By Tife Owolabi and Libby George LAGOS/LONDON, Nigeria (Reuters) - Royal Dutch Shell has shut down an Escravos crude oil flow station in Nigeria's Niger Delta after villagers demanding aid staged a protest, the firm and residents said on Wednesday. In another blow to the oil major, the Niger Delta Avengers (NDA) militant group said it had attacked the Forcados crude export line. Shell said the flow station on the pipeline operated by its joint-venture partner SPDC was no longer processing crude oil, but the impact on Escravos exports, which can run via other routes, was not immediately clear. Protest leader Shyne Edema said his group was demonstrating at the facility, shutting down power and water supplies as well as crude production, to press Shell into providing aid. This is a common refrain in the neglected region that provides much of Nigeria's oil output. "Today is the eighth day of the protest," he said. "We have laid siege at the facility from dusk to dawn since then. We are there now as I speak." He said the protesters complained about Shell's "neglect of its social responsibility of providing good roads, water and electricity for its host communities where none of these things exist."

Blast hits oil pipeline feeding Forcados terminal in Nigeria's Delta Tue Nov 8, 2016 3:16pm (Adds NNPC comment) By Tife Owolabi and Alexis Akwagyiram LAGOS Nov 8 (Reuters) - A blast on Tuesday rocked a pipeline operated by Nigeria's state-run oil firm that feeds the Forcados terminal in the southern Niger Delta energy hub, a spokesman for Nigerian National Petroleum Corp (NNPC) said. The explosion occurred while the pipeline was being repaired following an attack last week, NNPC spokesman Garba Deen Muhammad said. A week ago, community leaders from the restive region, the source of most of Nigeria's oil, met the president and asked him to pull the army out of the energy hub, order oil firms to move headquarters there and spend more on development to end militancy in the region. "Militants bombed major contractors' equipment at Eresigbene along the Trans Forcados Pipeline," said Muhammad, who added that the attack took place shortly before 12:30 a.m. (2330 GMT). The NNPC spokesman said some equipment used by the contractors - including a barge and crane - had sunk. The repairs were being carried out following an attack at the same location, near the southern city of Warri, last week. Last week's attack forced the closure of the Trans Forcados Pipeline, the main contributor to the Forcados crude stream, cutting the OPEC member's oil production by at least 200,000 barrels per day (bpd). "There was a serious fire and most people working narrowly escaped being shot by the gunmen, who opened fire on them," said a community leader, who did not want to be identified, describing the latest attack. He said the attack happened because "the boys claimed they were not happy" that repair work was being carried out.

Hedging after costs $91.50. 2 months left this year at 215k barrels and 12 months at 236k. I'll leave u to do the maths.......should read 2 months at 236k and twelve months at 336k.

In April 2016, production levels at OML 18 were approximately twice that originally forecast when the hedge and RBL were put in place and as such it is expected that Eroton will meet the covenants and repayment profile of the RBL. At a meeting of the lenders of the RBL, it was agreed that 60 per cent. of available funds after payment of interest and repayments can, subject to certain conditions, be distributed as dividends to Eroton's shareholders. Such conditions are expected to be satisfied by the end of Q1 2017.

The findings of the Court of Arbitration were received by the Company on Saturday 23rd May 2015, and provide for a total payment by Aurelian Oil & Gas (a subsidiary of San Leon plc) of approximately GBP13 million including costs........ An expensive argument to lose.