Member Info for bo42

Commiserations to everyone;
though most of us were taken in by the narrative and the marketing.
Credit to those who were not and left around about the time of Badile.
The warning signs were increasingly there: Luca being sidelined, Marco and friends leaving, the trading plan,
the valuation fiasco over what 1 tcf meant, the increasingly shifty look of JP, JJ and B (now we know why they barely bought any shares!), the JV, which is management abandoning ship, and so on.
I think anyone still holding will be diluted out of existence and only after that will more gas be found.
I always wondered how the small PI would be shafted and this is clearly it.
I still believe this was a deliberate policy and that JP will work again with big outfits because he has done well by them. Maybe some PI from here will turn up on another JP board warning
about him, only to be dismissed as a bitter crank. Imagine that!

With hindsight, when Continental disbanded to free up selling off, we should have read the runes better and done the same. All credit to them. I still think Morocco and some large owner will do very well with Tendrara. The small pi, us, will
be lucky to get our money back, or make a non life changing profit.

This was worse than I expected. It looks like 21 tcf is now effectively 5 tcf to sound and only if they prove that with the drill bit. If it is largely 5 tcf via seismic at say 10% value, we will be lucky to get to 1 pound for everything. Quite a fall from expectations. I found JJ incredibly slippery.

On this algo stuff, I just looked at Tullow and bp and they are all algos! Looks like the algo theory is nonsense

You are wrong. From JP many times repeated, the uplift in the LE was to come from seismic.

This now looks bad. To be told, after so much seismic, that there is no value to our exploration portfolio outside of TE 5 is grim indeed. This looks like Aim stock. Were I a cynic, this is what I see. The hydrocarbon province is there. The failures are deliberate. A super major or Government has bought off everyone that matters and we will be sold for peanuts. Luca was forced out. Brian and JJ brought in to do the dirty work. Sad, but locked in.

Now we know why the drilling is back to back, just in case this happened.We just get right on with the plan, instead of considering the wild, knee jerk ideas, resign, sack etc, swirling about.

Disappointing.Was not expecting that. The seismic problem is worrying. I assume the half dozen prospects like the A structure are now dubious. To be fair to JP he did say , in that last speech in Morocco that he was not expecting all the drills to come in. But pressing on is the right thing to do. Calls to abandon the program are just stupid.

It has been a weird weekend. It is actually possible that today we will know if we are going to be much richer to come.
How bizarre is that!

This is the only weekend where it probably will matter if you are in or out.

Famous grouse is a very good blend. There was a rumour once that Macallan was in it. Not true. But an indication of how good a blend it is. If you want a malt that combines the iodine and the peat and the honey, Bowmore is the one.
Any Springbank is excellent. There is a map of malt whisky production over the years and little Campbeltown dfwarfs everything. So anything from around there will be good!

They will want to suck all the information they can get from this drill. So not surprising they are fully testing it.
Glad the drill got to td and so promptly. A nervy few days to come.

The low ball offer that investors underwater might accept has always been a big fear. I have wondered often how we might be ripped off at the end of all this. Operation how to hoover up the small investor. The fact that Continental have disbanded and not been replaced(deliberately?)makes us , the pi,s now 60% or so of the total ownership. The best way to short change us would be to run the price down, then for an agreed someone to put in a low ball offer that we , stupidly, accept out of desperation, and the Boards hands remain relatively clean.
More than ever this is out of our hands. If the Board dump us on the LE price we are done. Feel a bit bleak. Did not expect to be underwater with this one!

Guess the troll!

This is just the fall of crude. It is across the board. And just after I watched Malcy banging on about 70 to 80 range!

People talk about 3 chances, but it is actually 6, tagi and/or pal in all of them.

Brian said he hoped to stand in front of us next time with 6 tcf 'under his belt' , can someone ask him if he is still optimistic about that given the 3 drills to come? thanks

He was genuine and informative.

Other than complexity, I did not gain much from the deep dive. Maybe other company geologists will get it better. However, it is the second time I have heard Brian briefly opine that he does not think this asset should be sold before they prove up a lot more, with the implication that the CEO was inclined to sell too early. You do not want geologists doing the business bit. We know about that. So the combo of a proven deal maker and business man and a large scale geologist maximizing what we have for the LE is still compelling.
I just wish Sound could give an indication to us about the minimum value of the asset. I understand why the maximum must be kept open. But I don't understand why they cannot at this stage rule out valuations below a certain amount.
Does anyone with experience of negotiations of this sort have any ideas why it is a good idea to keep the lowest amount vague?

O and G Immortals. I like that. With the tagi, Sidi, the paleozoic, the team, they have the hand to do that.