San Leon Energy Live Discussion

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Eadwig 20 Mar 2019

Shorters are losing it on the bb¿s Alaric: well that’s a wrap, Ajacko. but your tactics are known to history - to save you looking it up it’s called ‘argumentum ad hominem’. Wiki defines as ‘a fallacious argumentative strategy whereby genuine discussion of the topic at hand is avoided by instead attacking the character, motive, or other attribute of the person making the argument, or persons associated with the argument, rather than attacking the substance of the argument itself.’ What a wind bag. 12 months down the road and you have been proved wrong and Ajacko right.

linksdean 19 Mar 2019

Could be interesting! SweetCrudeReports – 19 Mar 19 Oil prices near 2019 highs on OPEC cuts, U.S. sanctions Singapore -- Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC.

Eadwig 19 Mar 2019

Buy-back TP, had any difficulties trading today? i’m blocked out again yet a friend can log in to my account from the UK. Very frustrating!

LifeInPlastic 19 Mar 2019

Buy-back I’ve not seen any suggestion on here of negativity from you…

theprior 19 Mar 2019

Buy-back Yes, SH, that’s the dilemma, you may have noticed in the past that I was one of the more negative posters about this company and I’m still not totally convinced, which is why I’ve hedged my bets. Just need them to come up with the cash for the tender offer and I’ll decide whether there’s a case for reinvestment here or elsewhere. ( but I’ll only do it if the sp pulls back a bit after the dust settles) TP

linksdean 19 Mar 2019

Could be interesting! allAfrica.com – 19 Mar 19 Nigeria's Bonny Light Among Top Price Earners - OPEC The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria's crude oil blend - the Bonny Light - was among the top price earners in its February Oil price Reference Basket (ORB), with a 7.7 per cent price gain from where it...

linksdean 19 Mar 2019

Could be interesting! eadwig…reading sle back history regarding tarfaya and them now going forward…I would agree that they would/should sell.

Eadwig 19 Mar 2019

Buy-back Eadwig: If I only get 10% sold and I have to sell the rest in the open market AND the share price stays above @38p or more I don’t mind selling them in the open market. They were only bought for a short-term trade which was supposed to be completed by Xmas. I should have known SLE would never hit a deadline, even so making 30% in 6 months is OK business. The big question(s) now are how big a portion of my tranche will they allow me - I’m hoping I sell all 100% @46p… … Will the price in the open market drop after the payment like a company going ex-div? I’m hoping not as more cash has been coming in and due to be paid at some future point and the effective ex-div date for this payment has already passed … but the market doesn’t know how much of the $30m has been paid. Not selling any of my old shares yet. @669p I don’t expect to ever see anything like my money back, but they’re going to have to offer a lot more than @46p for me to unload if they just want to tidy up the retail investors. Remember that the last institutional placement was @45p over 2 years ago, so @46p is unlikely to see those people selling, and Tosca were buying in the open market @55p after that. Unless they’re trying to bail out, none of the institutions are going to take up this offer in my opinion.

Surrey_Hills 19 Mar 2019

Buy-back Yes I see that now. What I am getting at is that I have become so cynical that I would suspect any offer they make: it might be that when they offer to buy your shares, that’s a very good sign that you should not sell them. If anything their offer could be a good sign of recovery.

Eadwig 18 Mar 2019

Could be interesting! linksdean: sle stake in onshore tarfaya goes up imo If it does I hope SLE sell it. I think with OML 18 finally coming to fruition, the last thing they need is to get mixed up in International Court hearings … IF any ever arise. If you’ve ever read a U.N. document on who has the right to a territory and its mineral rights it is often mind-bogglingly complex. I read the one on the Falklands - The French have just as much right as Britain and Spain to sovereignty and therefore rights offshore (and onshore) and Argentina doesn’t really have any at all! Given SLE’s track record in court they don’t want to be sinking cash into that claim that could end up being tied up for years and years. I’m not sure they want to get involved with exploration or production at all, come to that. It is financing that has worked out for them in the end, not the exploration or production side which has been a disaster for shareholders over the years. Buy another slice of a Tier 1 asset with cash generated plus a placement would be my advice.

Eadwig 18 Mar 2019

Could be interesting! linksdean: eadwig… 30th nov 2018…sle were 24.5p…today 42.5p… how is your tranche !! I’d be happy to sell it in the open market right now for 50%+ profit, but have to wait as I have filled out the tender document attempting to sell 100% of that tranche. (Before the process was announced I always assumed I’d be selling in the open market anyway as one would with any normal buyback). If only 10% or some other fraction is sold and the price stays where it is (and doesn’t fall like a company going ex-dividend) then I’ll sell the rest in the open market anyway. Not long to wait to find out. 22nd with payment on 29th, I think, from memory. Previously ALL of Nigerian (and Libyan) production was exempted from the first new OPEC+Russia supply cut deal because both governments were struggling after the very low oil price bottoming in 2016. Venezuela may have been exempt too. I’ll have to read up on their latest meetings in Vienna (I wonder why they always meet in Vienna) to see. SLE share price has no history of moving with the oil price anyway, although things may change once this buyback is completed. It will be a massive step for SLE’s credibility that they’ve actually paid some money back at last - even if only at a level that makes few people any profit as yet. If the share price slips back down afterwards I may attempt another trade later in the year. When this buyback was first announced the sp stayed around @28p but then slipped down to under @25p, as you say, as the process dragged on longer than expected. I have every faith SLE will manage to insert a delay into the next buyback too, so the same opportunity may arise. I’ve still got my original shares (very much smaller amount than this single trading tranche but very much more expensive) so I’ll be keeping an eye on progress, although don’t expect the share price to break @100p given the incentive deal announced with the buyback details. We’ll see how it goes.

linksdean 18 Mar 2019

Could be interesting! eadwig… 30th nov 2018…sle were 24.5p…today 42.5p… how is your tranche !!..

linksdean 18 Mar 2019

Could be interesting! eadwig…if the offshore tarfaya hits big for eni…sle stake in onshore tarfaya goes up imo…sle will not be doing nowt in morocco at pres as OML18 is a cash cow for the co without any outlay!..once loan payments come back to sle the deal is for free!! plus they get 17% pa on top! plus 10% of production…great business.

Eadwig 18 Mar 2019

Could be interesting! linksdean: interesting article this… Nigeria all over really, innit? They have some excellent ideas, like introducing taxes on flaring, but all too often things drag on and go nowhere, usually while someone is making money on the delay. Its just part of doing business there, it seems. Do you know if Nigeria is still being given a free pass on any production limits set by OPEC? I’m well out of touch with the oil industry having withdrawn from investing in it some time ago ( I count my SLE trade as finance, not production) … but I just inherited a load of RDSB and BP so shall have to make the effort once again.

Eadwig 18 Mar 2019

Could be interesting! linksdean: San Leon get included in msci global microcap index on 30th Nov 2018… its a good spot but months old? Many of these funds don’t actually hold individual stock … it all depends on the tracking model … MSCI is probably the biggest of the lot though and it certainly cant do any harm.

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