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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.

Can anyone remember what jj thought a low valuation on seismic alone to a buyer was to sound? Was it above or below 10% of a tcf?

I remember that. If it were only two or three times bigger, it would be a few. The least for a multiple then is four. A few multiples could be two, but why not just say ' a couple of multiples.' Many , many multiples would make three the very least. So you get to twelve. So about £10. Now Steffi once said when we had a fraction of what we seem to have now, that James was aiming for £5 a share, which she thought ambitious but not unreasonable. We now have many multiples of what we thought we had back then!

Thanks for the write up SO. The apt imagery of a river with tributaries running to small pools, and the main flow running to a larger pool is very interesting. I remember that saying geologists use that small fields stay small, big fields get bigger.
Can someone confirm that they are calling this potential structure, the Veyron?
It would look incredibly stupid to call it that if it turned out to be tiny.

You are right. It is a desert bulldozer, minus the blade for some reason. I have seem them in Morocco before.They are not tatty bits of crap btw.

You deserve that rebuttal Jhay. Fastnet backed offshore and got it wrong and could not upkeep Tendrara. They also never changed their opinion on how much gas is there. And Sound do actually have good geologists by the way, as well as a top deal maker, who happens to have very important accountancy skills.

I have been in some real dogs. None of those ones. But Aminex is right up there. If you exclude day traders etc., the reason, I think, is that you want to believe the narrative. Even when things start to disprove it, you still want to believe the narrative. After all, you read it and invested in it. How can you get it so wrong?
Such a thing could happen here. But the stuff you alluded to speaks massively against that. All of the dogs I have lost on had nothing comparable to what Sound have. I suppose you could say Aminex had Tullow for awhile. But they moved on pretty smartly. If only I had read that rune correctly!

I have never given much credence to slb being the eventual buyer. It seemed too pat. But now that everyone is thinking about it, the sense is there. If the seismic is as good as we all hope, no one is better placed than they are to see it. Given their existing stake , they would be in pole position to make a move on it before anyone else, and given their new ambition, a bit stupid to pass it up; also being perfect to bring it to early fruition as Morocco clearly wants.
The volume is still low, but this is the first news that Mr Market seems to like for a long time. If it continues, slb may be the lined up buyer.

It is amazing how impatient some are. A 20 inch pipeline agreed and people have already forgotten.

You are wrong, he suggested that tendrara alone might be 4 digits, ie £10 or more. Btw 4 digits not cutting it could mean that £99 did not cut it, which is absurd.

It cannot just be the placing.... We are not that important anymore. The suddeness is intriguing. For what it is worth. I would like all the drills to go ahead and the paleozoic better understood before we entertain offers, but I have a lot of confidence in the board being able to maximise our hand.

What is the significance of the Egyptian stuff to us. I do not see any cross over?