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PS still as bitter as ever but we must remember that due to your stupidity in selling just before the recovery it must seem like a dagger to the heart every time the SP rises or we get a positive RNS so we will no doubt get more venom from you as we enjoy an ever increasing journey to stability coupled by an increasing share price. There was a time when you could get away with casting your narcissistic negativity but there is little room for it now as we are on the way up so be prepared to be confronted and called out which is happening a to you a lot at present.
Arrrh p..s?!!
ST123: "PS you have been found out. You have constantly sniped at every poster who has posted any positivity."
Utterly untrue, however don't let facts get in the way of your bizarre narrative.
ST123: "Regurgitating paragraph after paragraph giving the impression your opinion is somehow more valid yet you are incapable of properly interpreting the information yourself."
That's fine. I'm perfectly willing to listen to YOUR empirically derived interpretation. Oh wait, you don't have one. In Graham we trust, and block your ears whenever anyone mentions actual numbers. I'll listen to YOUR interpretation when you provide one, and we can argue your points. Until then, quit your constant gratuitous whining about *my* matter-of-fact posts.
ST123: "The fact you sold up the majority of your holding prior to us recovering is all the proof we need."
This is your idea of a recovery? The fact that the CEO just gave away another nearly 20% of the company for less than the current share price? And has committed the company to giving away all its meagre income until 2027 (and then still have huge debts). You make it sound like I should be regretting my decision to sell. I'm not in the least.
ST123: "It’s apparent that every time that the SP rises and we have a positive RNS you feel more foolish as a result and it’s a painful reminder of your own stupidity."
It would help your case if you could actually point to a positive RNS. Has anyone forgotten that the exclusivity period with both ItalFluid and the gas purchaser expired two weeks ago and Graham hasn't even commented on it except to say "we'll keep talking after the drop-dead date". That's a pretty contemptible way to treat shareholders. Although it's exactly the same as he did last December. Just shovel any old RNS out the door to distract shareholders from noticing that he missed his deadline. But that's all tangential to the main fact that even if everything goes *right*, SOU is worth diddly squat in the absence of further major developments which are no closer now than they were two years ago. The whole LNG thing does no more than save SOU from immediate collapse and stretch out its painful lack of progress in either monetising existing assets or doing new exploration. (I frankly think the latter will never happen, at least not in a way that will ever benefit existing shareholders).
ST123: "Not having faith in Graham and the board has cost you dearly and your lack of loyalty deserves no sympathy."
LOL. In spite of 30 million shares traded, today's "positive" RNS managed to jack the price up from 2.7p to 3.3p for half an hour, before it tumbled back to near the opening price. The only people needing sympathy are the ones listening to the shameless rampers like yourself on this board. If anyone's been "found out" it should be pretty obvious that it's you, from your longstanding refusal to engage with any actual empirical analysis.
PS you have been found out. You have constantly sniped at every poster who has posted any positivity. Regurgitating paragraph after paragraph giving the impression your opinion is somehow more valid yet you are incapable of properly interpreting the information yourself. The fact you sold up the majority of your holding prior to us recovering is all the proof we need. It’s apparent that every time that the SP rises and we have a positive RNS you feel more foolish as a result and it’s a painful reminder of your own stupidity. Not having faith in Graham and the board has cost you dearly and your lack of loyalty deserves no sympathy. It is now difficult for the doomsayers to thrive here and long may it continue.
ST123: "ps, I can only put your negativity down to the fact that you have made some disastrous investment decisions of late and your bitterness in trying to constantly deramp is there for all to see."
Wishful thinking. You are desperate to convince yourself that I have some ulterior motive. I have only posted factual information, based on published numbers. You have only posted pathetic personal insults and cult-like mantras, based on nothing. When you engage with the numbers I will take you seriously.
Marching on towards 4p
Good news coming in May
ps, I can only put your negativity down to the fact that you have made some disastrous investment decisions of late and your bitterness in trying to constantly deramp is there for all to see. Pretending you still have skin in the game when the you sold the majority of your holding prior to the rise is fooling no one. Our position and SP is growing by the day but to you its just a constant reminder of the magnitude of your blunder. Its good to see posters now realising your game and calling you out.
Interesting how this idiot twists a simple terminology error by Daveboy into a negative for sound.
Also interesting how she also states as fact that the only way to get exploration money is from cashflows or equity.
Does rather show a lack of understanding of how the hydrocarbon exploration industry works.
But, then again, reality wouldn’t help her agenda, would it.
It would be funny if it weren’t so tragically transparent.
There are no potential reserves. Reserves refer to discovered resources that are exploitable with known technology at a known price. There are potential *resources*. Big difference. Banks generally won't lend money against resources. So any money for drilling will have to come from revenue or equity. Not saying it can't happen. Just that it's a long way away ... longer than I have any interest in. (P.S. I haven't sold up entirely. I still have skin in this game).
PS, you go on that this is the only reservoir on our license, even if we are at the bottom end of potential reserves we are at around 7 / 10 TCF. It's there, just going to take a bit more finding that's all. If you have sold up then just move on, life is to short to be miserable, roll on tomorrow.
db71: "PS, you are wrong, we get 47.5% of net 20 million dollars, the 13 million PA to italfluid includes all operation and maintenance costs."
Ok, $9m instead of my $8m. There is then $1.3m of bond coupon of which a little over half is deferred, $1.55m of gas purchaser loan repayments, and SOU running costs. That doesn't leave a lot of net income. After three years you have to start paying an additional $3m/yr in bond amortization. There's still a lot of outstanding debt and we haven't even mentioned the tax bill.
"This opens the door to phase 2 development and also reserve base lending for exploration or farm out the rest of East Morocco for a free carry. 47.5% of 2.5 billion dollars is a chunk of change."
The last attempt to do all that valued SOU at 19p per share, and that was *before* a sixth of the gas got turned into LNG which we've already accounted for, and a ton of new shares and warrants were issued.
soundreason: "PVR share price currently 3.5p. Still quite a long way from ps etc target of 100p."
Someone definitely got a knock of the stupid stick today.
Soundreason, true it's all about the news to come, that's why I strongly agree it's heading north. Sometimes Zac underestimates and it goes over, be prepared for a sharp rise as of when. Not pumping as market is closed but you get what I mean.
PS, you are wrong, we get 47.5% of net 20 million dollars, the 13 million PA to italfluid includes all operation and maintenance costs. This opens the door to phase 2 development and also reserve base lending for exploration or farm out the rest of East Morocco for a free carry. 47.5% of 2.5 billion dollars is a chunk of change.
The bond restructure is now largely priced in, imho. We could even see a bit of 'sell on news'.
soundreason: "Ps etc scoffs at posters who say SOU will be above 10p very soon. But over on PVR (where the share price is at 3.3p and continuing to slide)... he is forecasting a share price of 100p. Wow."
I know you are extremely hard of understanding on this subject, but allow me to explain the difference between a forecast and a valuation. PVR's share of net income from a proposed initial field development is $100m per year, and will easily generate the income required for further development that would triple that. It is also debt free now, and in a good position to pay for more development from future revenue. SOU's share of net income from LNG is on the order of $8m per year not including costs or servicing of a significant existing debt. It cannot raise the money for further development on the strength of income alone. It also has 50% more shares on issue than PVR, so the income per share is even less. If you factor in the pipeline and further drilling, SOU may be worth more, but I choose to discount anything that isn't on the horizon in the next several years. Taken altogether, that makes SOU worth more than an order of magnitude less than PVR. That's the VALUATION.
Now, if I were to FORECAST a price of 100p for PVR, that would entail an assessment of all sorts of risks, chief among them the likelihood that they will attract the funding they need. There is a very high likelihood that they will not. And, like SOU, if they don't get the funding they are Donald Ducked, Brown Bread, an ex-company. So such a forecast would be pretty stupid and, contrary to your silly assertion, I am not forecasting any such thing, or anything at all.
For me it's a fairly simple calculation. If everything goes right for PVR I get my money back. I don't get my money back from SOU *EVEN IF* everything goes right. Chances are, I'm gonna lose it all either way. But I might as well back the horse that is a 50-1 outsider rather than the one that has already been put down by the vet.
Wow Malkis
That is pretty basic stuff. I posted the link to the new proposal the other day. But I will post again.
Pretty clear we need 75 % of bonds to vote.
https://www.bourse.lu/security/XS1434582885/241909
The Adjourned Noteholder Meeting will require a quorum of 25 per cent. of the aggregate principal amount of the outstanding Notes, being considerably lower than the 75 per cent. of the aggregate principal amount of the outstanding Notes that had been required for the Noteholder Meeting.
All passed for tomorrow no need for 75% only 25% Lol
Hang to your hats!!
Somehow I reckon news will be out there before rns .
RNS will be after trading tomorrow though?
4p tomorrow
I can smell a lot higher s@p than this when May arrives
im reading the news or u?
I've come here from a cross ramp, done some DD and it looks like this will get the news awaited for! I see this going alot further soon!
A reader reads into the news before it arrives and s@p
4p tmoro