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SP I'm not bothered what you think, I am not trying to impress anyone, but just explaining what can happen in Africa when power and greed are their God.
Do your own research as always, believe me it happened.
Thanks Daveyboy for your kind words, we enjoyed meeting you too.
Gasbag
Can SLB accept to be in a deal played with the intention to impact PIs like this? can the Moroccan entities collude with JP and anyone else to drive things the conspiracy way knowing that one day anyone of those involved could spread the word? yes everything is possible but there are things that are less likely than others.
SP, as someone who has met GB and had a good discussion with him at the sailing with sound event you need to reign in the insults. We are all here to gain knowledge and have constructive dialogue.
If Marco is in Milan then he might catch the coronavirus. He could then pass it on to Parsons et al and then Sevenoaks will be in lock-down. Severance payments could then be avoided!
Trellis? Are you organising an alternative LE party at your place?
Pontcanna - Just to elaborate as an example of what can happen.
Back a few years ago when I was working in (an African Country!) best not to say which. I was with three top government ministers for the whole of one day, bright men, progressive and intelligent as I explained what I was doing in my work in that country.
The next day all three were dead, said to be caused by a road accident, it was also said that there would be no post-mortem as they were too disfigured???? Belive that or not.
All this Because they were thought to be too clever and after power. Life has little value in these places.
Sleep well!
Gasbag
Pontcanna Hi there, No I didn't short Sound - to be honest I don't play the AIM market had my fingers burnt years ago with companies like Pacific Media, if you remember them. Any serious money I've made has been throgh property. Lot to be said for investing in what you know and understand. Had a few old shares in many different companies and was fed up with the paperwork so turned them into Sound Shares back in 2012 I think it was. When it was up at £1 that time I was out of the country so didn't sell - like many, wish I had.
I just hope JP gets his due reward and I'll certainly do all I can to bring it about. I took one crook through the Royal Courts of Justice a few years ago in a case that went on for two weeks - very expensive but got the right result.
Gasbag
Davey Hello - Trust you are well dispite this share.
Long time since we met on the Thames trip! I knew the cheap popcorn symbolised something, now we know.
If it sounds too good to be true then it always is and JP has proved that - he better hope that I never meet him again a real rip off merchant if ever there was, I'm so glad I washed my hands well after shaking his hand that night!
We sold half our shares in Sound at 4p, should have done so earlier. Turned them into EAU shares so have made up some of the losses. However, they have just been suspended so we are hoping for a successful outcome when they return to the market or sell the company. We had a six figure number of shares, much like you I understand so still hold a few of these, but have NO confidence like most here. Keep smiling been following your earlier discussions on here - interesting.
Take Care
Gasbag and Mrs Gasbag in a village not far from Shrewsbury GLUG! GLUG! but we are not in an area likely to flood.
Evening GB, hope you and your wife are well. Looks like we are in a right pickle here, nothing would surprise me with JP and Marco.
How else do the men with 'V' belts on their heads get their wealth - certainly not through PAYE.
Gasbag
Evening GB, hope you and your wife are well. Looks like we are in a right pickle here, nothing would surprise me with JP and Marco.
If this transpires to be the case we were played from way back then heads have to and will roll. It will catch up with them in the end!! #spankers
Oil. You are one hundred present correct - time there were more controls on Directors of Companies.
Gasbag
"concur"
Fully cor GB. We have been and are getting a right royal shafting.....ive said it for years... We've all been played like a cheap *****!!!!
Shortly after this message was removed so I realised I must have been near or too near the truth!
Gasbag
Wound lick. You are not far wrong!
This was my post of 8th June 2019 copied as follows:-
"Had dinner and a long chat with my Moroccan friend yesterday when we Had dinner and a long chat with my Moroccan friend yesterday when we discussed the many facets of Sound, the reports in his country about gas finds and the problems involved for the different companies involved in exploration especially the political ones from internal, as well as the pressures that could be forced upon them from outside forces like Algeria.
He raised some interesting points. As we all know, where there is money and I'm talking BIG money, very BIG money, there is always corruption. If you accept that,then what follows is not impossible.
IF, a large amount of gas was discovered in Morocco it would have a huge effect on Algeria so they would do ALL possible to suppress it or prevent it from being extracted, without spelling it out I mean ALL, as there would be much at stake for them. It could mean that a secret deal was done to only allow it to trickle out!
Hence, our find might be revealed as being only small or to need more work carried out to make it commercial, even if that was not true in order to protect there own interests.
This would require a lot of hush money going out to a lot of people to keep the deal under raps! (I'm sure you can think of those that might be involved, from Sound right to the top.)
The King, who is in with Sound, would himself (not his country) like to have the ownership of such quantities of Gas, it could also be in his interest to hold the ownership of any find, buying it at a knock down price, declaring that it was only a small find, only to declare later that he had found a large quantity of gas following all the extra work HE had carried out! (What a clever boy he would be thought to be) How wealthy too he would become!
Both scenario's are very possible where vast quantities of gas are found with the resulting wealth.
He outlined other ideas that could be on the table but all would result in us shareholders not getting the return and value we should.
Far fetched you might think, having worked a lot in African countries, well nothing would surprise me."
Gasbag.
Unfortunately we don't have enough information. We don't know who is behind the 'deal' nor do we know what any of the other bids entailed. This is the biggest problem with this share right now. Nobody knows what the heck is going on, the share price has lost almost all value, despite a large volume of onshore gas in a high demand/price environment which should hold plenty of value.
I've been thinking, most likely, is that Parsons/the BoD have privately acknowledged that they've screwed up big time. Of course that will never be acknowledged publicly. I think that our Tendrara licence holds a certain value which other potential bidders (even possibly Shell/Repsol) are/were prepared to pay. This will very likely be significantly above the current share price but nowhere near previous highs/entry point for most holders. I suspect other bidders were completely unwilling to allow Sound to retain a % in a non operational capacity - i.e wanted a clean purchase, and valued the potential further exploration at close to zero. But the BoD/Parsons genuinely believed there is still plenty gas out there and to sell at such a low price (given their value of potential) would be the wrong option when this 'deal' allowed for significant future uplifts in value.
I can see logic in both positions but I personally would have just preferred a clean sale and I hope that another bidder comes along/rekindles their interest and puts an end to this whole sorry saga. I'll happily take 15p+ which would get me a modest profit, unfortunately nothing like what we all thought was possible back in 2016/2017 during the peak hype BS.
It has also crossed my mind that there is a big conspiracy going on where the BoD are deliberately trying to destroy all value in this share. I don't have any evidence for this other than the fact that the share price has been totally destroyed despite the company owning 47.5% of a very valuable asset. What would you do if you wanted to destroy the value of the company, under pressure from the Moroccan authorities (who have promised you personally come out this very well while they get a very valuable asset for next to nothing)? You'd probably act exactly how Sound have acted over the past few years. Make sure nobody knows what the heck is going on.
Maybe it’s just a waiting game now as shell / repsol are next door and all we need is a find in that permit ? Does anyone have info on this please
At best, we can say that JP gambled with PIs money, and this was easy because there was no governance within sound. But criminality is not out of order. Lets see what mohammed can do. But this micro LNG stuff doesnt fly. Hope it is just an excuse for something else.
Thanks Trellis I may well do that.
Just for the record I’m not a pauper either.
Wait and see what Mr Seghiri does would be the best coarse of action Trellis and don’t try to find faults in everything. Life isn’t a conspiracy.
You must be a barrel load of laughs !!
We should ask JP to pay back the money he received in the last few years......
Ask...JP should give it back voluntary, and get nothing further, i.e. severance package etc, The only alignment JP has had is with himself ....bloodsucking AIM Vampire #Spanker
whats the point to have JP as advisor now?
Apparently this new CEO has a good experience, do we really need another man there who forgot to check for a proof of funds after months of negotiation?
We should ask JP to pay back the money he received in the last few years.