They currently have a GBX 405.00 target price on San Leon Energy (LON:SLE). Deutsche’s target would suggest a potential upside of 1,875.61% from the company’s stock close price. This was revealed to investors in analysts note on Monday, 13 August.
Links -Thanks - comments on LSE seem to think it is the price for five SLE shares which were bundled into a single US quoted ADR - sounds about right with one share being 80p - still better than 20p - I do remember when the 80p was what we were anticipating the share price would be a couple of years ago - so is the source out of date I expect it fact is regrettable.
San Leon Energy’s (SLE) Buy Rating Reiterated at UBS Group
Posted by Chloe McGuire on Aug 21st, 2018 // No Comments
San Leon Energy (LON:SLE)‘s stock had its “buy” rating reiterated by investment analysts at UBS Group in a research note issued to investors on Tuesday, www.digitallook.com reports. They currently have a GBX 405 ($5.18) price objective on the stock.
Separately, Deutsche Bank dropped their target price on shares of San Leon Energy from GBX 415 ($5.30) to GBX 405 ($5.18) and set a “buy” rating on the stock in a research report on Monday, August 13t
I suppose it depends on how interested Nigeria is to continue their policy of increasing output form their marginal fields - Nigeria has huge demand on its budgets - let’s hope Eroton/ OML18 with the planned new industrial zone adjacent to the lease could be given some priority - cash coming end of the year hopefully?
m2m…imo all the gas produced will defo benefit the newly listed notore/eroton in the mirror…and will reflect!.. as and when this comes on stream!..at present we are due another 19m in a number of weeks and with this little sp rally maybe something is already in the pipeline!!!..we will see!
Penspen Alliance with Crestech Secures PMC Deal with NNPC
Penspen, a leading global provider of engineering and project management services to the energy industry, and Nigerian engineering firm Crestech, have signed their largest contract to date after forming a strategic alliance in November 2016.
The companies have secured a deal with the Nigerian National Petroleum Company (NNPC) for the provision of project management consultancy services across four gas projects in the Niger Delta region, with work already in hand.
The scope of services under the project management consultancy (PMC) contract includes, but not limited to, the following four identified critical gas development projects; Oil Mining Lease
(OMLs) 24 and 18 Joint Development, OMLs 26,30,32,42 and Makaraba Clusters Development, OML 13 Cluster Development, OML 35/62 Okpokunou / Tuomo West Cluster Development.
The scope of work covers project management services, as well as personnel support, throughout the duration of the planned gas development, initially expected to be completed by 2020.
Peter O’Sullivan, chief executive officer of Penspen, said: “Our partnership with Crestech allows us to deliver the full range of work required by NNPC in Nigeria and this highlights a positive step in our relationship and growth in the region. The strategic alliance allows the best of both companies to be brought together to deliver positive results for clients.
“The seven gas projects will help NNPC to achieve its overall gas supply goals to support Nigeria’s National Gas Policy (NGP) 2017. We look forward to working with NNPC and Crestech over the next four years.”
The managing director of Crestech Engineering, Engr. ‘Gbola Sobande, expressed his excitement to have Crestech play such a key role in moving Nigeria closer to its gas development goals. He stated that “jointly delivering a project of great significance to Nigeria, along with Penspen, will help strengthen the relationship between the two partners, while also further solidifying Crestech’s position as a leading indigenous oil and gas engineering company that is recognised across Nigeria.
The partnership allows Penspen and Crestech to provide engineering, project management and asset integrity services for oil, gas and energy assets in Nigeria. This project will combine Penspen’s global expertise with Crestech’s strong domestic reputation.
Penspen has been active in Sub-Saharan Africa since 1972 and carried out a number of strategic projects in Nigeria including the Escravos – Lagos Gas Transmission System and Nigeria’s National Petroleum Products Pipelines and Depots.
UK set to double trade volume with Nigeria – Envoy
Sep 7, 2018034
The British High Commissioner to Nigeria, Mr. Paul Arkwright, has said the United Kingdom is poised to double the trade volume between the two countries which is currently put at £4.2 billion annually.
He also said the UK has never abandoned Nigeria, despite the fact that it slipped behind some other countries, when it comes to trade and investment in the country.
The envoy made this known during a chat with some journalists shortly after a meeting with officials of the Sokoto State Investment Company in Sokoto on Friday.
He emphasised that the UK was determined to get back to the number one spot in terms of trade with Nigeria. Arkwright also noted that British companies had been operating in Nigeria for so many years and are still doing well.
International oil benchmark, Brent crude, extended its gains on Wednesday, trading near a two-month high as shrinking oil inventories pointed to an increasingly tight global market.
The upturn in oil prices come as the United States’ sanctions squeezed Iranian crude exports and after the US crude oil production in 2019 was forecast to grow at a slower rate than previously expected, prompting supply concerns.
Brent, against which Nigeria’s oil is priced, stood at $79.64 per barrel as of Wednesday 8:30pm Nigerian time.
The Organisation of Petroleum Exporting Countries, in its monthly oil market report for September released on Wednesday, said crude oil production from Nigeria rose to 1.71 million barrels per day in August from 1.53 million bpd the previous month.
no doubt behind the scenes with production and oil prices high and our next 16m loan payment comin ever closer…agm/interims could be very interesting end of month!!
Today 11:04 Price: 24.50
Alaric 155 posts
it’s a 4.5% net profit interest so we have no cost exposure on drilling, unlike eg. LOGP who, from recollection, have a 10% interest in Barryroe following the farm out to the Chinese but have to meet their corner on opex. (QF holds this so will no doubt correct me if i have wrong). the €42.6m valuation is on basis as farmed in ie if we sold our npi now that is a minimum expected figure. if drilled successfully as is reasonable expectation on all the evidence, we would expect our npi to deliver many 100s of €m over time. in the past OF always intimated that they would sell at the right moment. think if you go back to SPAngel detailed review and valuation of San Leon post Nigeria deal, using their figures would mean effectively our SP currently values OML18 and loan notes all but at zero!