Incorporated in England and Wales, Sound Oil is an independent oil and gas exploration company. It was founded in 2005 and admitted on the AIM market in June 2005. They are hoping to grow their portfolio with selective additions of different projects in the focus areas and also in other regions of the world.
Although the BOD have done fantastic since 4.75p The Niche deal does matter as it leaves a cloud over their judgement, particularly withe Nervesa which is SOU's game changer. You wouldn't need Pinkerton's detective agency to find out a few basic facts about Niche. The opportunity cost of time and reputation should also be flagged. As per Casablanca, Of all the bars (institutions) in all the world you had to pick that one." Have we been played, Sam?"
I thought it was awesome. Once we get the sellers out of the way I think the sp will grow strongly. It was really bullish and should entice some big money investors IMO. RickyD, if you look at the interview there is no reason to believe the deal will not happen. Just my opinion. Don't set any store by it. Breac, I don't know. But suspect if we get a partner for Badile there is enough money for both.Q3 presentation now mentions financing for Laura as a possibility. I also have a theory that SMG will be sold to Edison or Eni. All just theories though. Would thoroughly recommend people take a look at the interview! Cheers, Joe.
RE: Sound oil Sound Investment
I don't think any point has been missed Jerry. If I, or others,thought the future of Sound Oil relied on a deal with Niche Group, then I'm sure the stampede for the exit would be less than orderly. As others have said we could easily drill N2 ourselves or seek a new partner. It would only result in a rethink for the planned drill programme. JP mentioned bringing SMG, Laura and Nervesa to production should add 30p the the SP. That is discounting further upside to those 3 plays, hidden gems and not including Badile/Zibido which on its own adds a possible 40p. Still doesn't mean we can't pick the bones out of a deal with Niche though imho. GLA.
So what if they don't complete, I'm sure there are replacements queueing up outside JP's door.
Why are you confident that the deal will not complete? My understanding was that it was still pending and just awaiting legal sign off.
Afternoon Joe, In the event that Niche, as you suggest, does not complete, will we look for another farm out company or spend 6million euro's and drill the second well ourselves. Am I right is saying that even if the second well is not drilled, it does not effect Nervesa going into production, next year from the first well. Cheers breac
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