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whether Elderly pensioners or people with young kids and families it is all about what he has in his DNA: sucking people blood. He is indeed a vampire.
How does J Parsons sleeps at nights?
Simple Bav, he has a very comfy mattress stuffed with our money.
I joined for the theatre and the show hasn’t yet closed. Always a happy ending for those whom learn a new script.
Shouldn’t you be the one moving on?
Now getting silly, titanic like, people cling to their former ceo, and those whom surround while drowning and waving share certificates (electronic ones).
Crude a paid ramper? It is really getting silly. People, stop this nonsense, get a grip, take responsibility you bought the shares, and refused to heed the risk warnings given at ever event.
So, come on folks move on, sell and cut your losses and either reinvest -hint EML- or walk away a bit wiser rather than this melodrama.
Soundingoff, I apologise for the error in my calculation, you are correct.
100% is £1.58 ish per recoverable TCF
47.5% is 75 pps per recoverable TCF
23.3% is 37 pps per recoverable TCF
14.3% is 23 pps per recoverable TCF
The above have been rounded to the nearest penny and based on the assumption that there will be no further dilution.
Correct. Obviously this is a different metric than the infamous 150p, which was 150p per recoverable TCF to Sound, not the licence as a whole.
Soundingoff, you mean the 21p is for a 13% share and each 1tcf confirmed?
'Indeep have you looked at the RNS and carried out any calculations?
If we consider a best case scenario of no further dilution then this is what we can end up with;
currently;
1 TCF = 0.75 pps 47.5% of 100% of the licence
After selling off 51% of the 47.5% then we end up with;
1 TCF = 0.36 pps 23.3% of 100% of the licence
If the 9% of the 23.3% remaining is exercised we are left with a 14.3% interest;
1TCF = 0.11 pps approx 14.3% of 100% of the licence
Of course there will be further dilution, and if we take Sounds mid-case estimate of 20 TCF with a 50% recovery then if we are left with 14.3% of the licence area you'll be lucky to see 80pps over many years.'
Kasjnation- I can't follow your figures through to the end. I think the calculation for the 9% reduction isn't right? Worst case I calculate 21.5p NPV10 to Sound based on each recoverable TCF discovered on the licence. Of course the NPV may change.
Also we don't know if there will be dilution. Guessing what we could achieve is impossible without knowing the particulars of the deal. If we are hypothesising, the question will be, if we do discover more TCFs, then will we finally be able to attribute value to potential exploration?
What I would like to understand when/if we have a deal agreed, is what the up to date potential is in the TAGI and palaeozoic.
Levelup, this cannot get much worse unless there are people running the company who want it to. We are not in control,we are not pulling the strings.
Mr Crudehope :"This deal should see Sound Energy fully funded with no chance of future dilution". Is this true?
" James has stood down because of the violent threats meted out to his family". Is this true? It was not stated that this was the reason in the RNS last week
Trellis
Thanks. I think we are also getting close to the point where group members should supply you with proof of their holding. I am unsure how shareholders will ultimately provide proof that is acceptable in the first instance to the group and then if we do decide on any action to the company.
I am happy to send you screenshots initially.....
It’s going to be very interesting to see how this plays out. I’ve lost in AIM companies before & shareholders have kicked up a fuss but nowhere near this level.
I was always of the opinion what was said on these boards had no effect on the share price but the fact that Trellis has managed to gather 5% together has made me change my mind.
This is, not thus us
Trellis, I understand the RNS in terms of the finance/equity swap...what needs clarifying is who will be 'operator'; who are the private equity investors & what is specifically covered by the whole deal - inclusive of the contencious 9%? What are the envisaged timelines re production & exploration drills & who sits on the 'Nomminations Comittee' that will ultimately decide who our next CEO is? No doubt there are so many more questions......
Crude, I would like to pick up on a few of your points. Firstly you say JP didn’t set out to deceive but when everyone on here thought the Horst was worth 46p, he and JJ knowing that that was incorrect did nothing to point out that this was in fact wrong.
Also, JP is on record that deal making is in “my DNA” and thus us when I will come into my own.
Deal making my arse, even I could sell an asset worth 25p for 16p, and not even all of the 16p upfront.
Unfortunately, JP has turned out to be a bull****ter and as Testpack3 has pointed out, your remarks in your post just sound like JP and makes you look like his mouthpiece.
Surely, you recognise that JP has ruined countless lives, and yet you still defend him.
‘
Trellis
I think we need to remember why true shareholders have agreed for you to represent them.
I am happy for you to ask question in a professional manner and distribute the answers. Thats it no more no less. I am not happy with you speaking for the group on the BB or assuming you know the what I am considering as any “next step”.
I know that not one true shareholder that you are representing would like to see their investment value decrease due to any actions by the group.
I would suggest that as the current representative for a large share holding that you weight up carefully the contents of your post.
We all get it Crude, you are a disgraceful weak brown noser who is looking forward to the next close up stench of the next BODS stinky ring pie.
Mememe i am needy and require attention.
Apple for Teacher ?
Horrid little toad.
Think about it - what do you think the alternative is Lyndon? A very low-ball offer - versus the powerful forces behind the scenes that want to control Moroccan hydrocarbon interests? The 'Horst' alone could represent 60% annual Moroccan gas production. I feel there are far bigger forces at work that are not necessarily unaligned to our interests. Tendrara was always way too big a project for an AIM minnow trying to support a 47.5% equity position. The new equity deal fairly represents what a very small-cap company could have hoped to have ultimately achieved in the first place. Maybe it was too good to be true & maybe we were a litle too ambitious & possibly a little too naieve - but this deal brings the stark reality of junior AIM explorers into sharp focus & realism. I get it...but I also get that others don't get it........................
Crude,I am one of the investors who have supported JP for many years,I have emailed him on and off since the good times of TE 6/7. Now, sorry but enough is enough , ffs the SP is 3.86p,nobody knows how that deal came about,or where it will end. He has put us all in a boat without a paddle. End of.
The deal and all that he’s happened in the past year or so stinks. Don’t let them kick us all into touch,just doing nothing is all they want now. Get behind trellis,make the company uphold its responsibilities to us shareholders. We have nothing to lose,it’s already lost.......3.86p per share. Whatsnottolike lol
Testpack, if you truly believe I am a paid company ramper you are not only misguided - you are conspiracy fantasist with stalker tendencies! Ever since I invested in Sound a decade ago I have tried to be as involved as I possibly could. Initially, this meant contacting previous incumbent CEO, Gerry Orbell...but since that October 2012 coup, I decided to strike up a relationship with the new CEO, James Parsons. I feel after all these years I have got to know him & I can attest that much that has been written about him recently is either untrue or not representative of the man I know & what he has tried to achieve with Sound Energy. I truly believe he tried his very best to build a successful company & put his heart & soul into it! There is no other 'side' to what he attempted to do, with shareholder interest uppermost in his heart. He spent 8 years trying to build a company - & when Italian bureaucracy seemed to be strangling those ambitions he was fortunate enough to be able to jettison that strategy in favour of something much more promising - East Morocco. But as O&G investors know from bitter experience, the odds of success are stacked against success. Yet after the success of the Horst production concession, three unuseful wells followed: a sale of the assets was, as promised, undertaken & we are now about to be asked to scrutinise & then vote on the result of that sale process. But James has stood down because of the violent threats meted out to his family & I can fully understand that. Besides, he always guided he would hand over leadership post the 'LE' process. Many folk here are nursing big losses/paper losses but there was no malice of intent to deceive & I feel the company are trying all they can redress our bad luck & give investors a chance to ultimately recoup some/all of their losses. This deal should see Sound Energy fully funded with no chance of future dilution but with excellent partners & a new CEO who is perfectly aligned & by nature of his Moroccan birth - a perfect stakeholder! I look forward to scrutinising the details of the deal when it is published.
Trellis very well put, you know my situation plus many others from your standing of support to holders and off course yourself.
This is quite possibly the worst decision of my life following the shine given by the BOD over the years.
James Parsons giving false unbenownst sermons to his collective following makes me sick to my stomach.
We can only ever make decisions given on factual fundamentals thrown from our so called leader of SOU.
Conned is not a word strong enough in my opinion,we have been fooled, of course if we had a result that reflected the gloss given by the this shoit shower then all would be happy and no gripes.
But that would have been pure luck on their gambit with others cash,this was not the sold story by a long shot.
The way we have been led astray makes me very angry indeed.
We dont need to go through the many slights he has thrown us over many years as all are known to most.
And yes if he was hit by a Chelsea Tractor tomorrow would i weep ? would i FK
Karma for the yellow belly would be accepted by the majority of beleagured hard pressed holders i believe.
Very best to you Trellis for doing the honours and taking a hardstanding for the unfortunate .
Not many good people around these days, you can for one hold your head up high.
Not posting as much as polishing my tent and shovel.
All the best Bonga
Please reject this deal, ask the companies adviser to advertise and appont an OnG ceo, raise funds in the money market ( we know that an unlisted company values half of our License Area at c£85M) and fast track to 1st gas.. This recommended 'deal' I guarantee, will have The Failure lurking somewhere. Either join Trellis's group, or vote against the deal, and ask the The Chair for an EGM to discuss this 'deal' in far more detail, than a fsc, where they can cherry pick the questions.
The apologists are not good at replying to posts based on facts which question The Failure's abilities. The are however, very good at handing out rebukes to posters who hand out personal insults, and I agree, some of those are unwarranted. I have been questioning The Failures abilities as a CEO of an exploration when he is a bean counter. A poster made the argument that many companies have bean counters as CEO's, very true,but these co's are invariably well established manufacturing, production companies where money management is a critical area, not an early life exploration company. The Failure has been in way over his abilities since ho ousted Orbell. The decision to go to Italy was purely based on the money men, Marco and CIP. No DD was done, and The Failure had no idea of the beurocracy in Italy, especially for co's involve in OnG exploration. From day 1, we are told about The Hidden Gem, Laura. Not the smell of a drill in 5 years, although it was a high priority target. Yes, it is just offshore, where drilling is restricted, but only after SOU had been there for 3 years, but we were led to believe that SOU would Directional Drill from land. Lying and deceit even then, but according to crude and others, the builder of dreams. No crude, a lying deceitful person , who was also out of his depth. Was it 5 years in Italy, 4, or 5 drills, 2 big duster, 2 small finds, sold the co. for £14M, after more than that was put in by CIP in cash, and at least 2 Fund raises from SH, one at 4p, another at 19p, we the 24p warrants ( worthless) And, the the purchaser, Coro, it's first action was to buy an Indonesian asset, which crude lauded his boss as saving SOU when it left ythere. You coudn't make it up. Moroccan assets were identified by Luca's family, and The Failure rubber stamped it as CEO, and as we know, crude was always saying it was The Failure's call. It's possible that crude has been a paid ramper ( and public speaker) since the outset. We heard from crude this last week that , in his opinion, lol, The assets in the 'deal' are best handled by a company with Moroccan interests, and not a OnG major. This is plainly written by The Failure, and it will come to pass. Unfortunately for The Failure, crude has a big mouth when it comes to 'news', and has to make other posters feel that his finger 'is on the pulse'. lol. All this time, I was saying The Failure, is out of his depth, but crude, and others were toeing The Failure's line. Yes, the sp reached nearly a quid, and some sold and some didn't. But even at these levels, The Failure was still uber ramping, and 'no one will lose money buying at these levels'. Crude and fellow apologists, have failed on 5 occasions to answer me about The Failures 'brilliant' tenure in Italy. It was a disuster, and we should all of us, have been asking for an OnG person then as leader. I, like most people have written off this money both financially and mentally.