Could be interesting!



Hehe! I doubt my involvement could be characterised as ‘a nice buyer’. Very small time given SLE’s market cap now of just over £200m (taking stock price of @40.3p).

My trades of one or two tranches are very unlikely to move the needle!



I wish you well in your trade eadwig no matter how big or small… and think you will indeed.




Trump is clueless. Iran is Iraq, Afghanistan and Syria rolled into one in size and population.

And they are fanatical enough to call his bluff. If it is a bluff. The madman.


Yes you are correct eadwig…using terms of this type is extremely dangerous and any stupid action would could spill over for all to cause more misery and heartache for the world.


He said Nigeria needs to unlock new barrels as quickly as possible to stay relevant in the new emerging world, adding that without adequate funding, the country cannot meet the targets.
He also said evolving new funding mechanisms for the Joint Venture operations was part of the focus of the reforms undertaken by government to eliminate the often difficult cash call regime, enhance efficiency of the management of oil and gas resources and guarantee growth.
‘’To encourage the existing players in the Industry, particularly our traditional JV partners, we undertook to settle all outstanding cash call arrears amounting to a negotiated sum of a little over $5billion.






Morgan Stanley has projected that tight supply and demand fundamentals will help push Brent prices to trade in a $75-$80 per barrel range in the second-half of 2019.


He said unlike in the past, the JV cash call arrears were now being efficiently managed to ensure the corporation does not owe the federation.

“The NNPC ensures that it contributes to the cost of the production of crude oil and gas in the upstream sector to avoid a repeat of the mistakes of the past. If we had made cash call payments in the past, the arrears that we are liquidating now would not have arisen.

“The current situation creates a win-win scenario for the country. The NNPC is strategically saving for the rainy day to make a better future for all of us by liquidating the arrears,” he said.

According to him, the corporation, on a regular basis, balanced up with the Federation Account Allocation Committee and the JV cash calls in order to make sure that the future generations did not suffer from the legacy debt.






Eroton will soon be having one of these!..


Belemaoil Producing Ltd has been allowed to moor a floating storage and offloading (FSO) unit and use it as a crude oil export terminal, according to a letter signed by the Director of Nigeria’s Department of Petroleum Resources (DPR), Mordecai Ladan, Nigerian media report.

The new terminal, which will be known as Belemaoil Terminal Kula, is expected to create more than 10,000 jobs and other opportunities for the unemployed youths in the area, according to Samuel Abel-Jumbo, External Relations Manager at Belemaoil.

Not all local communities in the Niger Delta have been happy with the major international oil companies operating in their region, and Nigeria’s oil industry has frequently suffered sabotages, oil theft, vandalism, and militant attacks on infrastructure.

Nigeria, Africa’s largest oil producer and an OPEC member, is dusting off an ambitious plan to double its oil production by 2025, aiming to pump as much as 4 million bpd in six years’ time—a goal that analysts think may be too ambitious for the country to achieve.

Nigeria currently pumps around 2.2 million bpd in crude oil and condensate. In April, Nigeria’s crude oil production alone stood at 1.819 million bpd, up by 92,000 bpd from March, according to OPEC’s secondary sources.

Nigeria may have a hard time achieving its ambitious oil production goal because of security concerns and the continuous oil theft and resulting oil spills in the Niger Delta that have been affecting the operations of supermajors like Shell and Exxon.

At the end of last month, sabotages and oil leaks led to several operators declaring force majeure on key oil export grades, including Shell declaring force majeure on Bonny Light exports, which was lifted more than two weeks later