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I don’t trust the team now either....probably not since Te9 tbh, but it was a good calculated risk imo. If Te10 had come in and maybe Te11 would have hit the jackpot of sorts I think....but wasn’t to be. I have far more shares in Coro and think I’ll get what I was hoping for here out of Coro......we will see. I have often been accused of being negative and a deramper here over the years, but I am more a free thinker, than in one camp or the other. Nervesa in particular really annoyed me but thought we had three bites of the tcf cherry. Badile missed and we never even got to bite SM.....another annoyance for me. Then getting the seismic so wrong at Tendrara.....no point selling now, and hoping someone else will take a look again at Tendrara. Might still come away with a profit yet, fingers crossed.....
Wasn't going to comment on the present situation here, I normally don't on stocks I don't hold, and this will be my only post, but I have a lot of history with this company and the OP's comments just make me despair.
Of course every investment decision is down to the individual - in that respect everyone's outcome here is down to themselves. That may sound callous, but the truth is - it really is nobody else's fault - the warnings were there for everyone who cared to look.
I could identify a series of events( and often did) , from Nervesa discovery changing to missing gas, to a Plug&Play Sidi deal that turned ridiculously opaque and consequently morphed into miraculous multiple TCFs, pure nonsense Algerian analogies, hyperbolic share-price predictions, a Gherkin event that appeared purely to be a vehicle to promote Echo and for Parsons, Fumagalli and White ( the chairman of SOU at the time ffs) to rinse and repeat and exercise the warrant scheme that had proved so successful to CIP. Ultimately it was Parsons selling post TE-8 (and significantly seismic) under the guise of a trading plan that removed the need for him to restrict his trading in closed periods and offered him the opportunity to effectively trade 'inside' that should have been the biggest red flag of all. When he said Marco isn't just an investor, he's a become a friend was the surest sign that the CEO no longer thought himself a servant of the PI, but aligned his goals elsewhere.
I remained invested here purely on a belief in the Tendrara asset. Bit by bit that belief was eroded and I gradually sold. There are those who invested in the management, and I remain friends with some who still have faith - despite many conversations where I expressed reservations. Those of you who have berated, chastised and even threatened those faithful investors should be ashamed - there is no malintent, no conspiracy, no agenda. Just investors who believed the dream. If you are looking for someone to blame - look inward or to the management.
Finally I will say that I think this deal, Parsons, Davies and JJ exiting is a travesty. A cowardly act designed to extricate themselves from the hole they have dug (Maybe not JJ), a hope that they will walk away unscathed, a ruse to deflect the shining glare of the spotlight. Moreover, they leave the fox in charge of the hen house; after all he still needs his pound of flesh in bonds, despite making more than enough over the years through those generous warrants. He gave his friends free rein to sell, it was another flag worth noting, Do not trust him!
I genuinely wish a good outcome for those left in here, and it still may happen. However sometimes I get the feeling that there are those that will never sell, no matter how high the SP, no matter how low, no matter how many red flags, no matter what your gut tells you: Until those shares are taken away either through a sale, the company taken private, bankruptcy or whatever they can't let go.
Mahatma - you asked in ref; to Ram6lers post; ' What's the phrase for somebody who is arguing against something that nobody except himself/herself has brought up? Answer - An idiot. period. He/she is just another Failure apologist. No no one suggested he was the reason the wells were dusters, some flack ( a lot) was given to The Exploration Director ( part of the 1st Class Team. lol) in either his choice of site, or, allegedly ,allowing SCHL to choose the site, when the quality of the seismic was in doubt. The Failure is on record many times that The License area requires someone like a Major to fully exploit the potential. As it is The Failure recommends an unlisted private company, who need to raise cash. Unbelievable to most, but obviously normal to Ram6ler and other apologists. The Failure had cash in the bank and could easily have raise sufficient funds after Te5, 6 7 and even 8, to have an aggressive drilling campaign to unlock the potential. What did he do - sweet f all, except announce a 3 well campaign , which was abandoned after 2 wells, and the For Sale put up. You must all be proud of his efforts - idiots.
I can't recall anyone blaming him for dry wells ? His strategy maybe ! Bet you regret not selling out at 90p like us all . A lot of us topped up with the much talked about underpin and yes greed/ profit was the key ! As for gutted he did very very well out of this company. For the record I never attended a freebie and have e mailed the BoD voicing my concerns many times.
some of you guys amaze me..did you expect a CEO of any company not to talk up his own company ?, you blame him for dry wells, bloody ridiculous, if they had come in you would be saying he was the best thing since sliced bread, you have to put it down to personal greed, we all could have sold around the 90p mark and made a small fortune, my personal average is still 8.47p and im still confident we shall get a good ending to the SOU saga, some form of cash payout and still have a forward moving exploration company to be involved with, then ,of course there is still sidi to be taken into account..just sit tight all will be well. and further for the record i have never once e mailed or harassed any of the BOD, they must be as gutted as we are..for those that attended the numerous freebies you didn't say no to the free drinks and bags of goodies at the door that its turned out the rest of us paid for.