Member Info for crudehope

Jack, I don't think so! I think there are many shareholders who are underwater; who have invested more than they can afford & in many instances have involved friends & relatives. Although monetising the horst would involve more time before an eventual LE, I believe most would welcome the chance to recoup & possibly make substantial profits! When I first thought about this after the AGM, I didn't like the idea of what seemed like kicking the can down the road...but now I see the possibilities and the clues...pipeline financing, gas sales agreement for the 5/6/7 area all neatly tied up in a consession sale...leaving us cash rich to 'carry on drilling'...except I hope James doesn't morph into Sid James...lol!!!

Lostallfaith, you might live up to your name but I still have plenty of faith so don't put your depressing comments in my mouth - I never once thought 10p was plausible! The reason Sound staffers at the FSC seemed so confident, as well as at the recent AGM is because we have viable options. We are not in such a desperate possition as some here think! We have options & one is to monetise the 5 consesion & drill some more wells. This would not involve distributing cash back to shareholders but nether would it mean diluting them out of existence and it would give all another chance at the big time! Enough money can be raised to crack the code of East Morocco whilst satisfying short term Morrocan energy needs !

The way I see it is: the TE5 concession is being neatly packaged for a medium sized oil & gas company to buy it...boot, feed, gsa et all. I reckon this was always our 'plan B'! We can market our company but no redicullusly low offers need be entertained; we are in a strong enough position to reject them! So we sell the consession for anything between £100-200 million, pay off the debt, get a second rig and seismic for Sidi & get drilling those large Paleo prospects! James then gets to fulfill his commitments to shareholders to maximise their value so that every shareholder has a very good chance to recoup & likely make a good profit. I realise LTH may feel the attrition & want a swift end but I would certainly back such a plan...& there aren't many that have been in Sound longer than me! I feel such a plan would have almost universal backing from PIs & this is the course of action I expect & hope for. When James said drilling was suspended, I believe it was for the reasons outlined above. Unless he receives an offer he cannot refuse then 'plan B' (as I see it) gets activated! Bring it on I say...I still have dreams of early retirement & all shareholders would, I am sure, love a well funded crack at the puzzle....why not, maybe just another 12-18 months...but if it means no shareholder loses then what the heck - drill and keep those dreams in the desert alive......................

Jones, all very funny re the trellis/pigeon sketch...I can imagine Trellis reacting like that if served with a corked 1982 Dom Perignon! Good to feel some humour in these seemingly humouless days!

Jones, that would have to be last resort. Not many here I feel would have the appetite to carry on. Most want to move on! But like the Brexit negotiations, everything has to be on the table...no deal included! We have to be seen to have the cajones & the access to further cash to drill those prospects!

Shaun, you have posted some very relevant 'Sound bites' from the FSC! Cheers and hopefully we can put our faith in James, Simon & Rothchilds...not to forget Schlumberger, who may well be involved in a joint sale...who knows!

Shed, I absolutely agree...this is Jame's time to shine! No use knocking him until we see the results of the monetizing return capital to shareholders plan!

OK David, your persistent inferences are really starting to irritate me. I sold some shares back in lateFeb/March 2017 to pay off my mortgage & the 4th casing point at Badile wasnt RNSd until 4th May...the next Badile update wasn't until 14th June so if you care to explain how you came to your outrageous conclusions - I am all ears! Otherwise, keep your fantasy ideas to yourself! By the way, don't try bringing TE8 into the equation as the 'Final TE8 Results' RNS was not released until 23rd May...so your 'smoking gun' just backfired!

Regards, Crude

Davey, it's no secret that I got to know James back in 2011 & we have been in regular touch ever since...but never once did James say anything to me that was inappropriate regarding AIM rules!

DaveySanches, I resent that remark...I'm not that lucky!! I am just naturally upbeat...about everything!

Whatever was meant by my phrase....you guys better hope he is dynamic for our LE sakes!!

Tapper, thanks for the advise. Maybe that phrase was ironic, but it passed right over your head...then again maybe it wasnt...you have obviously decided!

Jones, I and many others here have no appetite for raising cash by diluting shareholders. If we were going to raise cash it would need to be via debt funding....and that would certainly test the skills of our CFO & dynamic leader. I also would not countenance farming Tendrara down. In my opinion James & Co have done the right thing by going to market. JP famously said he could pick up his phone & sell the asset anytime. Despite the setbacks I'm pretty sure there are interested parties out there & his old buddies at RDSA will no doubt be in the loop. Don't forget Schlum will want a fair price for their equity and I see a joint sale the best chance for both parties to maximise their value.

I found JJs guidance re the sale process intriguing:

"companies typically RNS recommended offers, or potential insider information in the build up to that. 2) the whole company could in theory be bid for and the board will look at that on its merits, 3) potential buyers will value our strong in country partnerships".
The salient sentence being "or potential insider information in the build up to that"! We know all about so called leaks, but in the case of a company being marketed, is it common practice for the odd nod & wink to be perceived prior to the official offer being preferred to investors, thereby causing a spike in price...........of course any such 'spike' would be followed by an RNS stating a preferred offer! Or am I just being hopefully cynical?

Job, I had access to cash to cover it but after TE7 & into 2017 I saw an opportunity to sell some shares instead...just lucky really.
StMary, yes in hindsight & remembering that spike in 2011 when I was sat on a hundred K profit but saw it dwindle to very little I should have been even more cautious...but we seldom learn here at the AIm Casino!

Jez, do you have the flat above the chippy mortgaged or do rent? No amount of free fish and chips (or fritters) could make up for the appalling smell of burnt oil though! I guess 'Chuckle Gas' are downstream, low rent & that flat is low rent, up wind! Still, with my possitivity Chuckle could be about to make a big breakthrough - or maybe thats just indigestion from all the free fritters!

Pontcanna, as I remember it was around February/March 2017 & the share price had recently been circa £1. My final mortgage payment was due in April & I just did not want to take the chance of the sp going any lower so I sold around 70,000 shares for 89p. Since the share price had been steadily advancing post TE7 it became my intention to sell a few if I could get the right price...after all, that's what it is all about isn't it. In hindsight, I maybe should never have mentioned it but I am probably too honest & transparent for my own good.........my dear friend Ponkey remembers it well & congratulated me for making a good trade in a vital cause. He even did the same a few days later & bought himself a Porsche. I have since more than replaced those shares & like everyone here await a hopefully sucesful outcome to the 'LE'.

Jez, think I will keep the 'Positivity' role as frying fritters aren't really my thing...although I did love the 'Spam' song on Monty Pythons!

Pontcanna, what do you know about my empathy toward other investors. I sympathize with anyone who loses money on the AIM! As for selling shares at 89p...I was more than transparent at the time so you are barking up the wrong tree with that one! I have been confident in James Parson's ability all along & I have never wavered from that position. I am very hopeful of a satisfactory outcome for the 'LE' that sees most, if not all investor money returned to shareholders, as I inferred in my FSE question posted earlier!

And dynamic leader Maxim Barsky? They delisted from AIM & relisted on the Swedish junior stock exchange a year or two ago. Well look what has happened...seems creditor patience is now at a premium.............

"Creditors under credit agreements with Legacy Texas Bank and Melody Business Finance have demanded acceleration of Matra’s US subsidiaries’ obligations and notified these companies that all debt, in total at least USD 73.6 million, is due and immediately payable to the creditors.

The creditors have further requested that collateral for the loans is sold at foreclosure sales on July 2, 2019. The collateral includes essentially all Matra Petroleum’s oil and gas assets.

Matra Petroleum’s U.S subsidiaries have not secured refinancing, are considering liquidation options, and will take action in accordance with relevant insolvency legislation in the USA".

Not that many British private investors bothered to retain ownership of matra shares because of the problematic nature of owning stock in Sweden...but anyone interested can contact:

For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95

Crude...it still rankles that I lost dough on that share every time I receive their emails...don't suppose I will be getting many more!!!!!

Well, I have weighed in with one question that should be answerable one way or another. I might add a second later if I get time.

Tommy, for James, read 'uncle Joe'...lol!! Our BOD hasn't yet ascended to Cold War Politburu levels of censorship surely...or maybe it has, tovarishch Tommy!!

Crudesky...