San Leon Energy Live Discussion

Eadwig 02 Dec 2019

New Buy Back Oct 2019 Re-posted from Friday with confirmed values - just so it doesn’t get lost among the off-topic additions. Date ++ Shares ++ Price ++ Total. Running Total* 18 Oct . 94,482 -26.46p £25,250 $32,572 21 Oct . 29,000 -27.91p .£8,174 $43,199 22 Oct. 89,285 -28.00p £25,250 $75,771 23 Oct. 89,285 -28.00p £25,250 $108,283 24 Oct. 88,192 -28.35p £25,252 $‭140,859 25 Oct. --------- --------- £--------- $140,859 28 Oct. 87,719 -28.50p £25,250 $173,178 29 Oct. 87,719 -28.50p £25,250 $205,750 10% completed 30 Oct. 87,719 -28.50p £25,250 $‭238,322 31 Oct. 87,719 -28.50p £25,250 $270,895 01 Nov. 88,967 -28.10p £25,250 $303,467 04 Nov. 89,285 -28.00p £25,250 $336,040 05 Nov. 92,165 -27.125p £25,250 $368,612 06 Nov. 92,592 -27.00p £25,250 $401,184 20% Completed 07 Nov. 90,909 -27.50p £25,250 $433,504 08. Nov. 91,274 -27.39p £25,250 $‭465,824 11. Nov. 91,274 -27.39p £25,250 $‭498,144 25% Completed 12. Nov. 91,274 -27.39p £25,250 $530,464 13. Nov. 91,575, -27.30p £25,250 $‭562,784 14. Nov. 93,283 -26.30p £25,250 $595,104 30% completed 15. Nov. 92,250 -27.10p £25,250 $627,677 18. Nov. 94,339 -26.50p £25,250 $660,502 1/3rd completed 19. Nov. 95,419 -26.20p £25,250 $693,074 20. Nov. 97,656 -25.60p £25,250 $725,646 21. Nov. 97,276 -25.70p £25,250 $758,215 22. Nov. 98,039 -25.50p £25,250 $790,535 25. Nov. 96,153 -26.00p £25,250 $823,107 approx 41% completed 26. Nov. 95,419 -26.20p £25,250 $855,680 27. Nov. 97,513 -25.64p £25,250 $888,252 28. Nov. 97,656 -25.60p £25,250 $920,826 29. Nov. 94,768 @26.38p £25,250 $‭953,399 Total number of Ordinary Shares in issue with voting rights now ‭452,911,921‬ *Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.

Eadwig 02 Dec 2019

Could be interesting! 30 November 2019 Nigeria reports crude output at 1.91m barrels, the same as the previous month.

linksdean 01 Dec 2019

Could be interesting! [link]

Eadwig 01 Dec 2019

New Buy Back Oct 2019 theprior: Cheers MM. I’ll have to explore how you can attach a photo on this site. But they’re not pink, they’re white flowers, grown for fruit not fragrance Simply paste it straight in. Couldn’t be easier … Here’s one I took earlier which you may recognise … image.jpg960x693 154 KB

Eadwig 01 Dec 2019

New Buy Back Oct 2019 Alaric: … the hopes and fears of all the years are met in thee tonight, eh Eadwig? very seasonal but cutting the cackle i’ll take that as a yes. call me a cynic but i have found over time that following the money tends to be a better reflection of people’s beliefs than anything they may say. Its a bit early in the day to have been drinking … perhaps you’re not in the UK though. I clearly have stated my thesis and the time hasn’t run out on it yet, so I’m going to give it every chance of playing out. Why do you think I’ve been posting the buy back in this thread every day? It is measuring how much time my thesis has. Yes, it looks like I may have got it wrong this time, and even a turn around now may not be early enough for the price to rise adequately, but it would cut my losses. However, IF there is a dividend announcement too, that could easily add up to 5pps by my calculations, that might easily attract some yield hunters and help push the price up. (Even stock bought @36p would be showing a yield of nearly 14%). Both coming together would see me hit my target quite easily I think. However, why would SLE announce the dividend during the buyback, knowing that it would result in them paying more for shares? It wouldn’t make a lot of sense, unless they are intending to do another buyback next quarter and perhaps every quarter, from here on in. It isn’t impossible. They may announce another buyback almost immediately after this one ends. It seems strange that it looks to have been tailored almost exactly to last one quarter. It could just be coincidence, but it would explain why the buyback was such a small one also. A total buyback of $8m (approx 5% of market cap) over 4 quarters would probably work very well for SLE despite the rubbish your blue mate on LSE talks about only massive large cap companies doing such things and SLE being just a p***ant, nothing company. He’s quite wrong (again). Buybacks are all all about percentages, size doesn’t matter. As you believe the company is massively undervalued I’m sure you would warmly welcome that happening. More to the point, if SLE’s management believe it is massively undervalued it is, arguably, exactly what they should be doing, although those eager for an early return may have a different view, especially as the outcome so far appears to be a negligible contribution in terms of the ‘shareholders distribution policy’. It will all depend how Martin Hughes sees it, as he makes the final decision on buybacks (another thing your blue-mate got wrong).

Alaric 01 Dec 2019

New Buy Back Oct 2019 … the hopes and fears of all the years are met in thee tonight, eh Eadwig? very seasonal but cutting the cackle i’ll take that as a yes. call me a cynic but i have found over time that following the money tends to be a better reflection of people’s beliefs than anything they may say. so maybe we’re in agreement after all - i certainly don’t see this falling much from here nor have i ever said that and my money says up as well. our buyer punched through on friday as we rose but whatever short term volatility, i expect to see a radical rerating in relation to value latest by first six months of next year and i hope sooner.

theprior 01 Dec 2019

New Buy Back Oct 2019 Cheers MM. I’ll have to explore how you can attach a photo on this site. But they’re not pink, they’re white flowers, grown for fruit not fragrance. Must admit though I find Eadwig’s comments far more realistic given the historical evidence of this company’s performance TP

Eadwig 01 Dec 2019

New Buy Back Oct 2019 Alaric: yes yes bla bla bla, Eadwig, but in essence you’re still at least going to hold as you believe the price will rise from here? yes? or have i misunderstood? I made it 100% clear, but you’re so busy making up stories you obviously can’t take it in. I shall be holding into the new year. I’m HOPING we will see the price rise, but I share your fear it is probably heading downwards which means that selling now would be wiser. However, on balance the downside, assuming support @22p or before (and this could be exactly the same mistake I’m making), is less than the potential upside from a dividend announcement - or even the seller running out of stock - which could see the price rise comfortably into the mid @30s before attracting more sellers. I still think there can’t be that many people in such a hurry to realise a loss here, not with a large pile of cash ready to be paid out.

Eadwig 01 Dec 2019

New Buy Back Oct 2019 melody2maker: all credit to him for that, and all he has met with is disrespect and abuse,an intolerable situation. Thanks for those kind words. The situation is far from intolerable. I’m quite used to AIM cheerleaders in MUCH greater numbers attacking my posts when I point out negatives. Not only on AIM either, but they are certainly the worst examples. A lot of people have lost sight of the fact that these are supposed to be ‘discussion boards’ it seems to me.

Alaric 01 Dec 2019

New Buy Back Oct 2019 yes yes bla bla bla, Eadwig, but in essence you’re still at least going to hold as you believe the price will rise from here? yes? or have i misunderstood?

melody2maker 01 Dec 2019

New Buy Back Oct 2019 theprior - MM! hope you enjoyed your bacon sandwich must admit it is also one one of my favourite snacks - the cherry trees sound beautiful look forward to an update when they are coming into bloom; indeed your comments make a welcome change from the endless abusive and futile analysis style of Alaric and his sister Blue something or other from the SLE schoolyard. Eadwig has been good enough to openly share his investing history with this board in a reasonable and respectful manner, all credit to him for that, and all he has met with is disrespect and abuse,an intolerable situation.

Eadwig 01 Dec 2019

New Buy Back Oct 2019 theprior: Just come in from pruning cherry trees, having a well earned coffee! I really don’t know how you guys find the time to waste on these futile analyses His analysis started off quite well but quickly degenerated into lies, fantasies insults and innuendo. Why? I have been perfectly candid about my position in SLE and even referred him to the posts I made about my ‘live’ buys, my thesis on this occasion and admitted I probably got it wrong this time So what is his problem? He’s desperate for me to sell at a loss. But the thesis still has about 6 weeks to play out. Why would he urge anyone to sell at a loss? As for wasting time posting on SLE, I post in plenty of other places and at equal length. I type at the speed of a fast professional typist and Alaric has always misunderstood that and equates length with time. Not the only thing he misunderstood. The LSE board is full of what Alaric refers to as toadies. I refer to them as his claque. He holds court there in the same way he thinks he can here, E.g . Alaric: which is just fine by me provided you stop writing at length about a stock, How deluded is a shareholder who thinks he can waltz around social media telling people to stop posting if they don’t agree with his own outlook and that will in some way help the stock. A stock which is held by about 85%+ of insiders by the way, and they still can’t get the price up! … if he had any real confidence in the stock he wouldn’t care on jot what anyone was writing. Or perhaps he would. Maybe he’s that personally invested. The fact is the one guy responding to my questions on SLE contradicted himself and the case for SLE so often that it wasn’t worth the effort. The thread, started by someone else, was ‘Who is the seller?’. I think that is a valid question, I’m certainly puzzled, but no discussion is allowed - and I wasn’t even criticising SLE except to say what I said right from the start, I thought the buyback was too small and I hoped they’d be aggressive in their approach or it would achieve nothing. Well, that seems to be the case, because Cantor look like they don’t have any instructions other than ‘but £25k per day when possible’. In which case, what is the point of the buyback? What is it trying to achieve? Valid questions that we can only muse on, but no less interesting for those who have a stake involved. The latest theory from Alaric and his toadies is that SLE are buying £25k of shares per day and another buyer is cleverly and patiently build up a position. They don’t explain how the price keeps going down. Except they often refer to the ‘broken hydro-carbon’ market. Which sounds like an excuse to me.

theprior 01 Dec 2019

New Buy Back Oct 2019 Just come in from pruning cherry trees, having a well earned coffee! I really don’t know how you guys find the time to waste on these futile analyses. You surely must have a better way of spending a Sunday morning. Must be city dwellers who have nothing to do till the shops open and you can consume some more “stuff”.

Alaric 01 Dec 2019

New Buy Back Oct 2019 … voice of reason, you say TP?? Eadwig’s thinking process here appears to be something along these lines: i like plays that can return me 15% in a shortish term i don’t like san leon management, which has a poor record on delivering i don’t think san leon should get involved in further exploration, production or development i don’t trust that the new ACOES will be delivered q2 next year or even if it does that it will work in producing more revenues from the oilfield even though the price is evidently deeply discounted now , i have no view on the value proposition of san leon save that the company has been making a loss last month i thought to myself i shall buy some more san leon to add to my strategic holding as i think the price will rise the price has gone down since but i’m not selling because i think the price will still go up from here even though i’m in profit across the rest of my portfolio and could sell san leon as a tax loss, i’m not going to as i think the price will rise even though san leon represents only a tiny portion of my extensive and otherwise remarkably successful portfolio, i dedicate my life now to writing long and extremely boring essays on why san leon is an investment to be avoided at all costs, whilst holding and when the price dips adding to my own holding in it i want to leave my collected essays for the future benefit of mankind and dedicate them to the memory of jean-jacques rousseau and pray that we now enter a new Age of Reason, where pesks like Alaric will not have the temerity to challenge my humbug and hypocrisy. oh and thanks to all my toadies on the II board like TP and melody maker, who are much nicer than that uncouth lot on lse board, where I get completely rinsed everytime i dare go there

theprior 01 Dec 2019

New Buy Back Oct 2019 Now now boys. Alaric has made at least one good point…”this has gone on long enough” You guys are never going to agree as one has rose tinteds and the other wears gray. Al is in cahoots with LD (who’s too busy cutting and pasting to join in) and Ead is purporting to be the voice of reason. I’m tending towards the voice of reason too, being sceptical about the company’s prospects but still holding for reasons I explained earlier. So, I’ve got more interesting irons in the fire. I’m going to have a bacon sandwich and do a little gardening whilst the sun is shining. Enjoy what’s left of the weekend folks TP