Member Info for crudehope

Marrakesh, don't you think particular ship has sailed? Try pedling that snake oil to Shell, Repsol, or whoever....but it ain't gonna wash no garments here...........

Johnny funk, to paraphrase Jules from 'Pulp Fiction'...'I'm kool and the gang'. Why you should think I am anything but my usual self escapes me. "Yesterday, all my troubles seemed so far away, now it looks as if they are here to stay"....great lyrics but they don't apply to us!

Lucas, you truly are a man after my own heart. I absolutely agree with what you have been saying & have been thinking similar thoughts.

Lucas & Johnny, I appreciated & empathised with your sentiments. Lucas...good point re options and Johnny, the first few lines of the precis of the great Steinbeck classic of 'Of Mice & Men' seems relevant......

Dreams in Of Mice and Men by John Steinbeck

'A dream can be described as an ambition or the aspiration to reach a goal in life. In the novel "Of Mice and Men" John Steinbeck creates characters to have an optimistic dream. These dreams are ones which they would all like to make a reality. They all have a longing and desire to fulfil their dreams. For example, Lennie and George are both working to get their own land. George and Lennie represent many who have this dream for their future. Many people travelling to ranches have the dream of having their own land and having the ability to be in control of their own lives'........etc and so on.

We all had dreams...but the dream has not yet turned into a nightmare...I keep possitive because I feel a possitive outcome will be achieved!

Crude...we, as investors need to be positive. There is no profit, at this stage, in being negative. We are under the spotlight now so if you want a positive outcome...for fuuks sake start thinking positively!!

Trellis, I respect your reply and will gladly buy you a drink after the EGM. I also hope you are making a full recovery & will once again delight in the pleasures of your wine cellar.

Adjbjesus, we are holding our breath for what some see as 'salvage money'... but I see it as selling an asset. We have an asset with value & there will be interest and a buyer...maybe all wrapped up before Christmas. Bids could be tabled very soon...let's wait & see what the opening gambit is of whoever is first.......

I have an opinion & you have an opinion. Wher we discuss these is called a bulletin board, where...believe it or not, views are exchanged. I'm not about to surrender my position because you say I "should give it a rest". I will however reiterate that what I say is my opinion based on my thoughts and in no way constitutes advise...it is just what I think & what I will do. I hope this is clear & that I have not inconvenienced you....

Cheers as always, your old buddy Crude

PNE, I agree & I reported that post & one other. There is absolute,y no call for that kind of abuse & I for one will report anyone who indulges in that kind of sick behaviour!

gmarchy, you ask how much I think the company are worth? I guess it all depends on the risk appetite of the buyer. There have been plenty of wells drilled over the years which have either flowed gas or had strong gas shows. It is plainly evident there is a hydrocarbon system in the Tendrara license. It is true the Triasic has been tricky but as James said to me earlier this project needs multiple rigs drilling year after year. the big prize of course could be the unlocking of the Paleozoic & I am quite sure the likes of Shell would love to snap this license up. James once said to me that we could maybe derive 10% (or another figure) from our prospective portfolio. that alone equates to 2 TCF at say 47p each. this obviously does not include Sidi or TE5 Horst area. Morocco has a 10-year tax break & we have recently been told that the horst will need far fewer wells to extract the gas & that the area has more potential. Big companies know that failed wells are all part and parcel of proving a hydrocarbon basin. Unlike investors they will not be looking at our measerly 2 well campaign as a failure - far from it. They may be looking for a cheap deal but that is where the likes of JJ & JP really earn their corn. What price we eventually are asked to vote on depends on their skills & those of Rothchilds. It's anyone's guess but I still see a profit to be had from not selling at these rediculous prices & waiting for the LE. This is not advise, it's just what I feel & what I am going to do.

Cheers all & thanks for the feedback. Special thanks to Moroccoknows - he is a star!

Retour, with respect...you are talking out of your arse! I was speaking to JP on the phone this morning & although he obviously could not comment on sale price or timing he did sound very confident...he said his "resolve right now is stronger than ever". We have a very useful record of drilling & seismic science that has a very real value. He went on to say that although they would have liked to have found more hydrocarbons Tendrara needs a big company with maybe 2 rigs operating, drilling 4-5 wells a year & that is not us. It is time to stand aside & let a company with huge pockets take over.

I personally am pleased & relieved to see the 'for sale' sign hoisted at long last!

Cheers, Crude

Hi Kirk,

Just out of there, others staying chatting to JP and BOD. I have to meet a friend shortly for drinkies.

How did it go? Very well I thought and feel much more confident. To the tune just bought another 22 odd thousand shares lol. Gulp hope I am right. You can post that and following...

No funny story Re T10 direct from Brian

Testing finished at 1000 yesterday morning hence 1330 RNS

All were confident and shocked at results, JP said pissed off.

Encountered water unexpectedly and don't know where coming from still.

Guage left in to gather more data but not for us

Seismic about complete and reveals some good looking stuff at old Wells. SBK, M5 M1, (really good) TE4, and TE2 plus T11 which they still strongly believe being presented as sale package with 20/30% COS, and yes I pushed Brian.
Hard on that number but insistent. Package is ready now. Not afraid to drill T11 just think major better and will like it.

Not drawn on bidders but expects more than one (several)

GSA may be better! Went back to push for more and sounded confident!

OGIF very supportive to sale, they didn't know until we did and rang him at 0701 lol

ONHYM also supportive and like us and want best for country

Unknown in Schlumberger, just said separate company and doesn't know their views as yet

Figures down to 6.5 per drill

Sidi not in sale (so far). All proceeds sale to shareholders minus debt( 25 million euros and any other costs)

JP told us this is where he comes into his own i.e. selling

Wants all done before FID but obviously can't give timelines

Forget Edison report, not needed now and irrelevant

Head of remuneration board gave his talk and said they worth it and not in too bracket of pay for similar. So no pay cuts etc for them etc. Share buying well up for offer so can't can they ( my opinion as can't remember if asked/answered)

Kirk all from my memory and notes but some IMHO etc post it to help others but not advice DYOR

I hogged floor and questions a bit but did shake hands with JP.

If left anything out will send if comes to mind.

Meeting was bit tense before but cordial throughout and nothing off the board for questions

Post it to help on BB if you wish but not my e mail address lol

Cheers Kevin or Moroccoknows lol

Thanks Moroccoknows (Kev)...much appreciated...................Crude

I absolutely agree Joe...we should stick with our CEO. James has done a brilliant job of re-structuring what was Sound Oil into Sound Energy. He enabled our company to drill three wells in a highyly desirable location...Tendrara, East Morocco. Prety soon after Shell & Repsol shared his vision & snapped up all surrounding permitsl. It's way too soon to condemn anyone at Sound...

One thing JP was always banging the drum about was that Tendrara should be in the hands of the big boys...the multinationals: they have the kind of exploration budgets that can unlock the mysteries of this tricky geology; we however do not. In some respects we had to get lucky...maybe third time lucky but the sooner a big company pours real capital expenditure into this project the better!
Reminds me of that old 'Pioneers' classic: 'Long Shot Kicked de Bucket" https://youtu.be/XhAec0h4lds
but we've just fallen off the horse...its far from dead...just dread at the moment!

Whilst I commiserate with fellow Sound Energy investors & of course the hard working team at HQ & in the field I will not now be attending the AGM. If I didn't have more pressing issues to attend to I might have gone but I have my dad's 90th birthday to organise & a day off work means I can get so much more done. But I must say I never believed TE10 would not be able to be flowed at such low rates & the timing of this RNS certainly caught me by surprise. Some people here have talked about a fireside sale but I don't believe that is the way to go. We have to pick ourselves up, dust ourselves down & raise some more cash. But that cash could turn out to be so expensive if raised with shares at such low rates. I await to hear what plans they have & how this mess can be resolved to shareholders satisfaction - and how long it will all take...12-18 months I'm guessing!! Anyway, no use crying over a pint or 6 tomorrow in attendance at a funeric AGM.............

Jez, no one is more gutted than me! Nothing more to say at this stage...

Shed, that made me laugh!! There's an awful lot of poet talent on this board lately...gallows humour!

Seaton, what a canny observation. Heads or tails lets hope it's a banker...don't fancy the 'barrowboy' option!!

Hey Graham, I'll be there. If you fancy a quick pint in the 'Barrowboy & Banker' beforehand I will be there at 11:00...with Moroccoknows & whoever else turns up.

Blackjake, I have been adding shares when I can. I am really excited about TE10 & if it is as good as I hope it will be, who knows we may not need another well. That EIA that covers over 9K sq KMs did make me think it was more in aid of whoever buys us. I have no reason to believe the mech. stim. will not be successful but like everyone here I am frustrated that my life is passing me by with much needed cash seemingly permanently tied up! But I am sure it will ultimately be worth the wait! Who knows, TE10 could even get a resourse upgrade back to the original prospective figures...or more!

WTD. appreciated the humour. A few jokes never go amiss!

Where do these eco warriors get off! I hear they are now blockading BP HQ in London with 5 heavy containers demanding the Company stop exploring for oil & gas & switch to renewables...are we all going to exist on candelpower and spermacetia oil! They're all nuts!

Jez, we could discuss my re-appointment to the board of your downstream, downbeat company at the Sound AGM...if you can be bothered to turn up! I have attended most over the years & fingers firmly crossed...this will be the last, barring the need for an EGM...which, of course, will be most welcome! Not sure I can take another year here at the 'Mothership'. Quite happy to look at doing it all again with the spawn (Echo, Coro, etc)...but hopefully not like salmon, taking all that time & effort to swim upstream to finally achieve their dream, only to die & never appreciate the fruits of their labour.

Crude

Shpunken, the sheer ignorance of the implications is generally understandable but the unwillingness to accept expert advice is unbelievable...if that were true & I suspect under the old communist regime it was. At least the realisation did finally sink in & containment action eventually sanctioned...but at what terrible cost! Interesting you grew up in Soviet Russia & have first hand knowledge of how things were...back in the day!

If you can make the AGM, be sure to pop in to the "Barrowboy & Banker' Pub beforehand & say hi over a pint. That invite extends to all serious Sound Energy investors.

Cheers...Crude