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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.
The only benefit of selling off the other 9% would be as an incentive to find commercial gas quickly.
As has been stated why not get rid of JP, this act alone would raise the share price, put out a plan of action so that investors know what is going on, and drill more wells.
We surely would not be any worse off under this scenario than the one JP is currently pushing ahead with, and the upside would be far greater.
Nobody died last time I looked. Be happy. Embrace a long term investment. X
PS2. @13%, 20p is around 1.7 billion pounds for tendrara and 40p is around 3.4 billions. How reasonable can be such hopes/dreams?
shame on you JP.
Mr Ericnat, why do you think we will soon know the name of the purchaser? There Is no evidence that the largest shareholders are massively aligned with the small shareholder. The BOD might have resigned because of lack of trust in that they could fulfil the will of the large shareholders. It is anything but clear as to whether shareholders will get regular returns from their investment and what size they would be in the event that was true. And isn't it wrong to suggest the share price will rise in any event? The opposite has been the case for years. Exciting times.
It’s more than 170..... and I’ve only myself to blame. I’m not defending JP. We drilled dusters with lots of experience behind us. We failed to attract Shell and get the pay out. The deal I’m sure will allow over time for us all to recover.
Jonesy, weren't you recently advising people to buy shares to decrease their extravagantly high averages. Take that kettle off the stove it's going black(er).
ericnat17, there are still many different opinions being posted. I hope you are on the right track. Hope it is a recognised Company,I bet the fsc forum is clogged up by now.
Didn’t indeep say the other day he was down 170k if I was down that much I don’t think I would be defending JP
We will soon know the name of the purchaser.
If it is a legitimate oil and gas company like Neptune Energy, then all this talk of conspiracy will evaporate.
My guess is that we won’t see a tinpot company, they need access to large amounts of capital to even start this infrastructure.
There is a lot more to play out with Sound. Our largest shareholders are now in charge. They are massively aligned with the PI, they have booted out the BOD for a reason. I do not believe that reason is to see there investment go down in value.....
We have had our shareholder revolt, it happened last week. Let’s see what happens. I also can wait for many years for my investment to make returns. But as soon as it becomes clear that Sound shareholders will be getting regular returns, the SP will recover to represent a PE of approx 10-15.
All imho.
And if it’s a deal on 10-15 years to get 20-40p I’m buying more to bring my average down. That’s if there’s shares out there. Nobodies selling if you look at the volumes.
I don’t think it’ll be a good deal.... just a deal that’ll take years to come in. It’s only a loss if you sell. I’m going nowhere. I can wait 10 years if I have to
This will drag on like Brexit, In or out, good deal or not. See what Fsc brings.
Esox.
There's nothing wrong with banding together to ask a few questions. The obvious one is why we should incur dilution over and above what is necessary to get us to first gas. Since that seems to be covered by selling half our interest, why would we sell another 40% of what's left after the purchaser gets a chance to poke around the assets? If the answer is that the purchaser won't buy in otherwise, the next question is why this sh|tty deal is the best the management could do.
Without the further dilution I reckon the deal gets us between 20p and 40p (best case) returned over 15 years. Far from ideal but better than a total loss. Worst case with further dilution is about 12p per share, pretty derisory.
Indeep. There seems to be an assumption by some that our best interests are paramount to JP. I find no evidence that is the case but would be pleased to be proved wrong. I also question his competence. I think the action group is for like minded individuals sharing similar concerns who think it is reasonable to have some pertinent questions answered for the benefit of all.
Indeep
I can’t belief you still think JP will deliver us a good deal after what’s gone before.
He’s a con man who has shafted thousands of people what makes you think he will change.
Ok so this is far from ideal... far, far from ideal but the continued mincing isn’t going to make any difference to the past. There is a plan, there is a deal and I still think JP & Co will deliver the best available to us. Long and short.... nobody’s getting rich or rid of their shares by Christmas. We’re all going to have to wait a few years now. No point *****ing in the meantime and a action group.... please, give me strength!!!