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More likely being acquired as its one less liability on the balance sheet......
It was indeed good news and opens the door to move forward with the acquisition of new assets !!
The estimated total gross cost for abandonment of Antrim's four wells is US$7.5 million (£4.75 million), with the estimated net cost to Antrim totaling $2.8 million (£1.80 million). The planned mobilization date for the campaign is currently 8 July and the 10-well campaign is scheduled to take approximately 45 days to complete.
I pop in for a read to see what happening and all l see is SOU?? I would have thought after todays RNS AEY holders would be more interested in that ??
Ivor, that's way less than the £20 million we have on account. We generate cash already that covers our Italian G&A & will be initiating 4 million per annum revenue from the Nervesa 1 well within a few months. We have multiple projects that have intrinsic high value & a number of 'Majors' interested in farming into them. Your valuation is off somewhat.............. Crude
No we can read and do understand, do you see me ramping AEY? No. But SOU only has one producing asset with a Best NPV $3m there is no way the company is worth the current mcap, I say its worth $20m max. Until you actually get some gas or oil out of one of the high value sites you will continue to have placing after placing. And JP is just ramping the company and not delivering on his word.
You guys still don't understand us (Sound Oil. We have a portfolio of assets that are regularly being permitted. We have finance & are attracting interest from the Majors. Our assets are predominantly low cost, on-shore with high end retail prices & low cost infrastructure. We are not ONE-TRICK-PONIES! Crude........apologies for emphasis but.......
I looked at Badile which gives an NPV $486m, I didn´t think that was realistic considering ENI had previously held the permit and 2 dry wells have already been drilled. If this is the case then $1.8m is a bargain. Also thats a hell of a range from ERC $101m to $1.745bn NPV.
What are your other concerns?
You took that very well Joe. I would stay away from SOU I think JP is ramping that too much and I have other concerns too.
Fair enough.
Serves you right, I told you there was no gas at SOU, still way over valued, you have one asset with Best $3m in production. Company is worth no more than $20m mcap.
Another duster at SOU. That's what happens when one gets too big for one's market cap
Because it goes on BOD wages.... There is gas alright, no doubt about that, just how fast we can get it out.
Watch sou go down is it Joe? No gas, oh dear, more jam tomorrow. Sou is way over valued, never worth £85m with what you are currently producing.
we need a new venture here to state the obvious! stagnating away and the cash pile is reducing....
Two different animals really. I think Sound wanted to use your cashpile, definitely, but could have used it to mutual advantage. In the end got funding for some very exciting projects in a different way. I believe it would have given Antrim a few more irons in the fire also. Anyway, both moved on now.
Its always good to be in profit ( my average entry s/p level, here at AEY, is well in the money at our current Market Cap),& I have no intention of taking profit out of AEY with our Market Cap at £3.46m , to buy SOU shares with thier Market Cap at £93.44m, see much more potential % upside here at AEY. BW
Watch Sound Oil this week. I'm so glad the bid was rejected....... More lovely profit for us Sound oil shareholders, I always thought the bid was overpriced, at the current and future share price it definitely was. IMO.
crudehope,... The bid was rejected, time to say "good buy", tune for weekend: https://youtu.be/BR7EaHbPe54 BW
@ crudhope: hilarious comment lol ...
Linton......the only mistake is the AEY Board!
must be a mistake?!
The value destruction here has been monumental. Your view will depend on your entry point. I noticed the extra target that kosmos have identified. Either way the company is now 100% reliant on kosmos and to keep the licence look at the small print on the licence around exploration drilling. With low oil price and lack of infrastructure off Ireland this is a longer term play. I hope that this does result in a rerate at some point I have left a very small holding. I reckon their days in the oil business is numbered and they will be taken over IMO.
Yes, looking at the history, it is good to have Mr. Anthony Potter back, (RNS 13-Feb-13). http://www.bloomberg.com/research/stocks/people/person.asp?personId=292822&ticker=MVN:CN BW