My response may be overtaken by a morning' RNS but if you are going to argue that the 62 Tcf mentioned in that report lie entirely in gas fields within the Tendrara licence then what is the point in dividing by two so many times until you arrive at a figure that 'looks' realistic? It would be easier to say lets just assume 3 or 4 Tcf are extractable from our licence area. Then to quote such an exact number as �3.87 as being 'reasonable' when you have made so many assumptions is a little odd as most of us will be rounding that either up to �4 or down to �3 or �3.50 in our minds.
Regardless of that some may not appreciate that just because you have access to an asset worth �1bn (or whatever umber we would like to put on it) the market will probably think otherwise. Many companies trade at a discount to asset value so it is also not unreasonable to assume the share price will trade lower than �1 even if there is 1Tcf there to support it.
Good food for thought with posts earlier today. Although I have moved from my thinking of Thursday RNS to Wednesday with points raised today. Friday agreed a non-starter. Later then definitely a "communication breakdown"
Your point regarding ii's holding - for me not enough high volume trading and big boys waiting for results first. SP needs to be held back for their entry and hence why I believe results will not blow our socks off just yet. We need the ii's on the register to initially move SP and then stabilise position and as you say sticky hands could get them to pay a bit more. There is an alternative but agree with others the timing may not be right yet and we do not seem to need the cash. But depending how Tendrara plays out this will be something in the not too distant future IMO
Also Fridays presentation is more about getting ii's interested than simply delivering news to existing Shareholders. Although I expect pi's will form the larger part of the gathering with a party atmosphere and signing "and he's a jolly good fellow" - hopefully!
I truly believe JP's sentiment to pi's and our value to SOU but it's now time for a change and the opportunity is on our doorstep to shout it from the roof tops. Results and success may attract a buyer to reach an exit but in the meantime it's ii's that will drive up the SP to the next level.
Forgive me if talking rubbish but if results talk of TCF's and SP rockets then I suppose I will have to get over it.
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