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Sorry if I’ve missed something.... but you know that there have been no offers how? If you are privy to some industry gossip or other knowledge about a lack of offers please do share it here with your fellow investors.
TE-5 was drilled in 2007 by Maghreb before they relinquished the license (they also did the 3D). Fastnet tried and failed to farmout Tendrara so they could drill TE-6 but they ended up relinquishing it too (or rather they decided not to take up their option).
shaungreen - yaaaawn
calling others half wit when you can't even justify what you're blabbering on about hardly makes sense
"nice one shaungreen - thanks for your comments, really helped discuss things, oh and you forgot to sign off the email with 50p LE at least..."
n4apound. Why do you think I would want to discuss anything with a halfwit like you?
50p at LE. At least.
nice one shaungreen - thanks for your comments, really helped discuss things, oh and you forgot to sign off the email with 50p LE at least...
And as for seaton - think you'll find your facts are incredibly wrong, making you the true idiot - parso...sorry, the failure is stating that they are only marketing the company to test the valuations and will then decide whether to monetise or not.
So just for clarity, there is no company sale in progress - they are waiting for offers, and f nothing tasty comes in, they will have to do another raise and carry on drilling.
So, I maintain, there is no better time than to oust the failure now - just for clarity, failure aka parsons...synonomous terms nowadays and shortly to be added to the oxford english dictionary.
His strategy (if it existed) has been a total failure until now, the discovery he tries to claim credit for was actually from fastnet - and it was schlum who decided to change the drilling technique which enabled te5 to flow. Te6/7 were pure appraisal wells and the 3d seismic fro fastnet helped them pick the sweet spots - again, the failure had nothing to do with picking the sweet spots.
"So Simon Davies, if you're reading this"
Why would Simon Davies be interested in reading the views of a tiny minority of PI's on a free, irrelevant, anonymous bb?
Woundlick, we would recover a lot more if the failure has nowt to do with the marketing of the asset.
He has already disclosed he was 'marketing' the company to pi' s, now he is 'marketing' the asset to experienced corporate professionals?
Parsons is a liability...treat him like a contingent liability. Is it probable he will screw up the sale (Yup!) and that we can estimate reliably the extent of potential losses (he'll take his 18 months salary and screw pi's again) Yes.
So Simon Davies, if you're reading this, you must issue disclosure of this liability via rns and discard it at the earliest opportunity to maximise gains. Long overstayed the 12 to 18 month tenureshii-t as someone put it
Hmmm.... just noticed my username has changed. Not by me. Must have been moderated!
Sorry, it's Testpack who calls him the failure. But I'm guessing you agree with him.
"Parsons hasn't a clue about geology as axewoundlicker verified"
n4a - just for clarification, I have not "verified" anything.
Rather, I speculated that Parso...sorry, 'The Failure' as you call him, must have been given very positive information from some reputable/authoritative source in order to come out with all the hype off the back of the TE6 and TE7 drills. I further speculated that it would have been extremely unlikely that he gave us such positive information if it was contrary to what he had been told by those reputable sources (such as actual geologists/Schlum). But I can only speculate, just like every other poster on this BB because none of us have any insider information.
I get it though, I really do. The hype was overdone. In hindsight it was regrettable to say the least. I'm fortunate to have a low average (although I'm still underwater) unlike many who bought in following that hype. I think despite the hype about 'four digit share price' etc the Tendrara asset still carries plenty of value. We won't get anywhere near £10 a share but I think those with low averages will make a decent profit and those who bought on peak hype will recover a lot more than if they were to sell out now.
Based on experience to date, what have we learned about parsons and the way he runs a company?
That is the ONLY thing I can and will judge him by and have numerous examples to backup my 'ludicrous' 'bile' 'negative' posts.
The failure has delivered none of his claims to date, has exhausted shareholder funds on lavish events (none of which i have been to since first getting involved with this shambles, so cannot be accused of being the drunken follower)
He has lied face to face with a smile and now claims it was in the name of marketing. And you expect me to believe a word of the trash that leaves his lips?
To sum it all up, a failed drill was referred to as a partial success for months. The man is a failure, and a deluded one at that.
He is out to line his pockets with one last hurrah before what is likely to be a very lacklustre sale from which NET proceeds not likely to exceed the value of the horst. Heard it here first, keep a screenshot of this and throw it right back in my face if I'm wrong.
'SO wants to know what my NAV guestimate is. He/she may not recall my price / TCF of gas in ground was about 37p, when The Failure was extolling £1.50, later upped by crude to over £1.70 with OGIF deal ( lol). we have about 1/3 TCF , so NAV on that about 12p by my reckoning. What is the values of SM, the value of seismic we have performed, the value of our 47.5% interest in the license area? With The Failures drilling programme , which confirmed previous drill results at SM, then nothing else done there. The Failure told us there is up to 10TCF there. At this point in time, without a CPR, no-one has a clue whats there. He will have a job and a half trying to convince experience OnG people that its worth 100 m never mind a billion. Whats in Anoule?, anyone like to hazard a guess? I know one way to find out, and its #letthedrillbitdothetalking.'
And therein lies the problem testpack. You (like a few others) apparently know exactly what's best. And yet you don't have the first clue about valuing this business.
N4......anything else ?
You don't know how this will play out.
Nothing, or a good return ......you don't know
You lot want to talk about risk and reward?
The reward of ousting parsons will be far far more lucrative than any risk associated with him leaving
Parsons did not negotiate the gsa - that was segiri remit
Parsons hasn't a clue about geology as axewoundlicker verified
Parsons doesn't have a clue about equipment required on site and thus has to tell people they forgot to have a gauge ready on site
Parsons has not a clue what 12 to 18 months means
Parsons is a shame on the accounting world for not even l owing what 4 digits are all about
Parsons also has no idea what a deadline is nor what quiet confidence is, nor does he have an inkling about self respect
Go on parsons get lost. Look at Angus energy...a moron on the board left following a duster, and the share price rocketed 45% in two days with no retrace
Imagine the rocket up sounds share price if failure a.k.a parsons was shown the back door and asked to close it as he leaves....probably the biggest success story for sound energy plc would be if that happened...but alas...he is there wasting shareholder funds.
Sorry 300 something bcf not tcf!!
'(JP) told us there is up to 10TCF there. At this point in time, without a CPR, no-one has a clue whats there.'
My understanding is that all the latest seismic figures issued by SOU were arrived at by people outside of SOU.
With a potential up to 34 tcf, a 300 something tcf proved rrserves and 70p per tcf, is it impossible to have £1+ , for all the pis to come good out of this?
It's obvious to the silent majority that you aren't a holder nor have ever been over the years.
You have criticised relentlessly and use the latest moans here to evidence your own agenda.
Utter pish :)
Yes, you're right - TP3 has got it completely wrong.
1 TCF is worth about 70p to SOU - not 37p - and TE-5 is worth about 27p to SOU - not 12p (all figures per share).
Would you please elaborate, SG?
37p per tcf. Oh dear. Clueless.
no-one has an answer to what is an disingenuous investor, so can we please face facts, in that if a person has any cash tied up in SOU shares, they will want to see a profitable return. The angst that is shown by these genuine investors, such as me, is with the uber-ramping of The Failure, and then we are told it was only 'marketing the company'. Comments that he made , eg.' I can pick up the fone and sell the company', are total BS. It is his MO of telling PI's what they want to hear. The only benefit of this sad situation is that crude posts now only refer to his fav, pastime of boozing, with or without a scenic view, and his literary pastime , and thankfully no comments on the 'dynamic'' Failure or what Lambo he will buy. All off topic, but gets no admonishment. V strange. He is of course though, still doing The Failures bidding with his £2-3 LE price prediction. lol.
SO wants to know what my NAV guestimate is. He/she may not recall my price / TCF of gas in ground was about 37p, when The Failure was extolling £1.50, later upped by crude to over £1.70 with OGIF deal ( lol). we have about 1/3 TCF , so NAV on that about 12p by my reckoning. What is the values of SM, the value of seismic we have performed, the value of our 47.5% interest in the license area? With The Failures drilling programme , which confirmed previous drill results at SM, then nothing else done there. The Failure told us there is up to 10TCF there. At this point in time, without a CPR, no-one has a clue whats there. He will have a job and a half trying to convince experience OnG people that its worth 100 m never mind a billion. Whats in Anoule?, anyone like to hazard a guess? I know one way to find out, and its #letthedrillbitdothetalking.
But you invested in an AIM listed company. Seemingly.
Did Xcite ever appoint Rothschild to market any assets?