when our deal started in jan2016 oil was $26pb!!..…great deal it was imo!!..lots more to come I feel!!
Am I missing something here?
There’s only about 3% of stock held by P.I.s and everyone else holding paid considerably more than @27p per share … so who is going to be giving up their stock at a loss … or will supply and demand have a large say?
Its not impossible that a $10m (£7.7m approx) buyback could push the price back up to the last placement price which from memory was @45p because right now $10m represents more than 3% of market cap, does it not? (approx 500m shares * 27p = £135,000,000 so £7.7m is over 5%)
If the figures in the above link are correct it should be very interesting … as a close observer of buybacks over the years I’ve never known a situation even close to this. How do market makers, who are obliged to provide stock liquidity, deal with such a situation if no one wants to sell? Put the price up, what else can they do? Perhaps that’s why we’ve seen a move in the price today that isn’t just reflecting the spread for a change?
Or maybe I’ve got confused somewhere?
if no one sells they will have to raise sp to get those who bought lower to sell at a nice profit I guess…but who knows they might buy some off midwestern @45p!!..sp rises mid will be happy as will we…just a thought!
but the news today is fantastic and looks like this merger might/may still be on the cards giving us a larger piece of oml18 production wise and operational…
I confess I have a limit order in for approx @27p as a speculative trade on how the buyback could play out. Last i checked the price was dropping today so I may be the not-so-proud owner of several times my current holding by the end of the day … or week.
This is a high risk speculation and should in no way be taken as a recommendation. There are so few opportunities about at the moment (that I can find anyway) and many of my longer term investments have been going backwards recently so I’m desperate to get a win on the board in the next few weeks.
And if I’ve got it wrong … well, surely it can’t go that badly from this low a share price with real money actually accruing and a deal document (Aug 2016) committing SLE to some form of return of capital to shareholders.
Hahahha. Famous last words …
jeez the level of discussion on this board has got turgid. more informed and informative analysis can be found on lse board
what goes around comes around!!
looks to me…Poland are to buy oil from Nigeria…maybe from us…he hee!!..
I see sunny have taken sle off their website regarding their legal F/up!!..it was on there the other day so now proves it was bollards!!
*Government, NCTL operator move against loss of income from the Nembe Creek Trunk Line
Of the export receipts, the NNPC said $105.17 million was remitted to Federation Account while $237.91 million was remitted to fund the Joint Venture (JV) cost recovery for the month of May, 2018 to guarantee current and future production.
Cumulatively, it said: “Total export crude oil and gas receipt for the period May 2017 to May 2018 stood at $4.91 billion. Out of which the sum of $3.52 billion was transferred to JV Cash Call as first line charge and the balance of $1.40 billion was paid into Federation Account.”
To ensure gas supplies, we have made strategic acquisitions, says Eroton CEO
October 19, 2018 | 9:33 am
nice that new drilling to be started or starting very soon!!..and doubling production!
Our projections in terms of production goals are essentially to be the number one hydrocarbon producer in the country and the region in the nearest future. Since acquisition we have been able to ramp up production progressively via rigless activities and field re-entries from a rate of circa 10 kbopd to circa 50 kbpod of net oil production. We see ourselves doubling this production within the medium term time frame via our infield drilling campaign which is set to commence next month (October 2018).
Great to see the 18m coming in again, no debt now means sle can get approval for buy back, Midwestern taking suntrust place makes a very important partner, tosca knows these people well too so the union is now set for a great future, dividends, works contract etc etc
good summary linksdean. the future is certainly looking very bright now.
looks like eroton are producing gas for export as well as for the nortote plant…
He said, “The report indicated that for the period, July 2017 to July 2018, a total of 3.084 trillion cubic feet (TCF) of gas was produced, representing an average daily production of 7,834.62 mmscfd, while the daily average natural gas supply to gas power plants stood at 744.86 mmscfd, equivalent to power generation of 2,898 megawatts (MW).”
Ughamadu explained that period to date production from Joint Ventures (JV), Production Sharing Contracts (PSC) and Nigerian Petroleum Development Company (NPDC), contributed about 69.38 percent, 21.69 percent, and 8.93 percent respectively to the total national gas production
He said, “A further breakdown of the numbers showed that out of the total volume of gas supplied in July 2018, 127.19 billion cubic feet (BCF) of gas was commercialized, comprising 35.55 BCF and 91.65 BCF for the domestic and export market respectively.
“This translates to a total supply of 1,184.81 mmscfd of gas to the domestic market and 3,055.00 mmscfd of gas supplied to the export market for the month, implying that 55.98 percent of the average daily gas produced was commercialized, while the balance of 44.02 percent was re-injected, used as upstream fuel gas or flared.”
Cash call continues for jv’s
A further breakdown of the figures showed that out of the export receipts, $142.31 million was remitted to the Federation Account, while $307.93 million was remitted to fund the JV cost recovery for the month of August, 2018 to guarantee current and future production.
San Leon get included in msci global microcap index on 30th Nov 2018…
Should create a lot of buying at month end as funds will be obliged to hold sle stock…we will see!!
MSCI UNITED KINGDOM INDEX
ALLIED MINDS CARETECH HOLDINGS
CAKE BOX HOLDINGS DIVERSIFIED GAS & OIL
CHAARAT GOLD HOLDINGS DRAPER ESPRIT
CLIPPER LOGISTICS FUTURE
CODEMASTERS GROUP HLDGS GOOCH & HOUSEGO
DEBENHAMS GROUND RENTS INCOME FND
DEVRO GYM GROUP
ECO ANIMAL HEALTH GROUP HARDY OIL & GAS
FRANCHISE BRANDS HARWORTH GROUP
GRESHAM HOUSE HUNTSWORTH
HOSTELWORLD GROUP HYDRODEC GROUP
IMPELLAM GROUP IG DESIGN GROUP
JADESTONE ENERGY JOHNSTON PRESS
KNIGHTS GROUP HOLDINGS MEARS GROUP
NUCLEUS FINANCIAL GROUP MYSALE GROUP
RA INTERNATIONAL GROUP NEXT FIFTEEN COMMU
ROSENBLATT GROUP REAL GOOD FOOD
SAN LEON ENERGY SDL
SENSYNE HEALTH TARGET HEALTHCARE REIT
SIMPLYBIZ GROUP (THE) TLA WORLDWIDE
TEAM17 GROUP VP
TIME OUT GROUP
TRIPLE POINT SOCIAL HSG
XPS PENSIONS GROUP
ZOO DIGITAL GROUP