Member Info for crudehope

Trellis, what's with the recent 'Malbec' craze? Everywhere you go you get offered Malbec - I guess it's the red wine equivelant of Pinot Grigiot or Prosecco when it comes to popularity!

Turned out nice again......

Garfield, steady on old boy...no need for 'language'! We've mostly all got shares or we wouldn't be here: exceptions being those short of money and 'short' on the stock!!

Just for clarity, when I asked JP at BB Mayfair about Sclum being possible buyers he said he never thought of them in that light...so that would seem to rule them out. Shell or Repsol for me...hope it is Repsol as I feel they might pay the most in a bid fight. IMO they are the natural fit with a Spanish pipeline consortium that would be pumping excess gas into Spain...but you can't rule OGIF out or the Chinese.

Job, quite agree. You & I are 'lifers' but we may have our sentence commuted very soon........

I am just wondering if I will attend the AGM. I don't usually like to miss them and as this could be the last one I feel I must take yet another day off to attend a Sound function. It will be the usual meeting of old friends mixing it with Sound staffers. It always used to be soft drinks & sandwiches & then after business all down the Pub! Now they supply wine & canopes but we still go down the Pub. 'Old Doctor Butlers Head' in Mason's Avenue was the preferred venue. The old Doctor who it is named after was famous for his medicinal drink...'Doctor Butler's Purging Ale'...half a dozen of those & you know doubt had to be sitting close to the WC in case his dubious claims came to pass!!

Trellis, I know you don't want to remind us of past failures but...Gelius, Cataka & Marciano are three that readily spring to mind. But I am sure we have learned lessons - James was an employee for the first two but not involved in Marciano (that was all 'Merry Ordeal'). When he took over in the October Putch back in 2012 he rapidly learned that investors detested dilution...some of which came on his CFO watch. He has since built the company; financed us and bought world class partners in, positioining us for great success or massive failure...you choose. But I know where my chips are placed on the roulette wheel of AIM...rein ne va plus will surely soon be called.............

Eric, same here...I always tell myself the SP doesn't matter as I am here until 'LE'...but when your final top up is at 22.5 & soon after the offer sinks to sub 19p one cant help feeling down - especially when advised by wifey to hold out for 20p. I am now paying that price for disobedience in so many ways......every day the 'offer' is sub 22.50 I am reminded of my wife's very wise deflationary advise...don't buy now, tomorrow they will be cheaper. But I am determined to have the last laugh: when news comes in of a significant flow rate and the shares rocket I will have that most glorious of marital moments, which begin with the words..........I told you so!!!

Partridge, very amusing....but I wish you wouldnt startle me in the mornings. On Tuesday I opened my patio doors to put feed out for the daily visiting cock pheasant and his harem when a brace of beautifully coloured partridges ambushed me and scared the shite out of me! I of course immediately thought of you......

Re your amusing monologue...people will speculate in the absence of facts and that is all well & good for a bulletin board...that's what we do - chat, chew the cud & mull things over! We may have weeks to go yet so let's 'KBO', as Winston used to say, when the 'Black Dog' was upon him!

Jez, I agree it is frustrating but who knows what is going on in the background...don't forget James previously said we private investors would be the last to know about a Company sale. But what you are suggesting is collusion with our partners to somehow lessen the effects of a (bad ) result that they cant possibly know yet. It will take as long as it takes and we will just have to be patient and cut the BOD some more slack. I'm not about to lose my nerve after more than 10 years...it just wouldnt be right. We are all nervous but that is O&G...........high risk, high reward!!

Just tuning in and I see Jez is stating there is little chance TE10 will flow commercially. Sorry Jez but you know sweet FA more than we do. You are basing that opinion on your previous experiences on AIM, not on the merits of our situation! Maybe the chip shop fat is off & it has tainted your mind. There are natural rock fractures and the bar is set low for commercial flow. The fact testing is taking longer than anyone here imagined almost certainly has no bearing on our chances of success. The delays could well be tactical or they could just be practical issues with the supply chain: fact is nobody knows but to interpret this as failure based on the above is frankly ludicrous. You may have lost your bottle & ditched most if your shareholding but many here have not and can still see the exciting prospect that is our Tendrara license & that we are on the threshold of possible life changing results at TE10! This isn't 'Chuckle Brothers'...this is a serious consortium of oil & gas experts unlocking a new hydrocarbon province!

Testpack, lol! I've been called all sorts before but that does amuse me...his J'***** (spelling altered for perceived meaning)...what are you like?

Yoghurt, the will of the majority must be upheld...but I do secretly wish they could be consulted one last time for a final say on the deal being offered...but the ballot could not include a remain vote option...that ship sailed with the original plebiscite.........

Simon, yet testing has only just begun & you think JP & co should be 'shouting from the roof tops' TE10 success! You say failure was written all over their faces at the Balls Brothers event but were you even there? I was & I never saw any such thing. What I witnessed was a confident team who were celebrating all the hard work and achievements over the previous year...and we were invited to join in! I loved every minute of that event, especially shaking hands with fellow sufferers (oops, investors). When I am sitting back comfortably reconsiling my life I will remember with great fondness the years I spent investing in Sound Energy.

I would just add that I think on the whole freedom of movement has been a force for good and if there was a deal that could include or retain it I would support it. My red line is freedom to trade Iindependently and to be a soveriegn nation once again......

Daveboy, I didn't want to get involved but well said re the mental qualities of those who said no. Neither are all Brexiteers racist...I never met one who was in my circle. It was all about the subsuming and all consuming nature of the EU empire. Some of us had had enough of creeping federalization!

Back to my curry cooking........

Pontcanna, Jez, just having a moment of reflection. I'd been listening to Pink Floyd and suden,y I was momentarily depressed. All right now though as I am cooking a curry for a family get-together. Will put some cheerful music on. Let's start with the Selector...'On my Radio'...followed by more Ska - never fails! I bought my baby, a red radio.......etc & so on!

Joe, I'm afraid you might be right. If we drill a third well then we surely are looking at 2020 for a company sale. The fabled GSA and LE have much in common...they have both passed into legend and are increasingly seen now as platitudiness & cliched: will they ever happen or will they just remain figments of our imagination! Oh well, this time next year..............................

Crude.....shorter of breath & one day closer to death, as some old rockers once depressingly observed!

N4apound, I include Shell for the obvious reason that they snapped up all the surrounding acreage very shortly after we acquired Tendrara...there is no doubt they are interested. But my favourite would be Repsol. With a Spanish consortium building the pipeline and facilities and the Magreb export pipe actually already pumping gas to Spain you have to figure Relsol as front runners...so long as there is interest and competition, like there is on TV program 'Floggit, then a decent sale price can be achieved at auction!!!!

I think this email reply answers the question of TE10 appraisal emphatically:

"All potentially large discoveries need appraisal. My model is this isn’t our business - we are a high risk / high reward explorer and when we hit gas we sell it on to others to appraise and develop. So the appraisal well doesn’t link to our exploration programme".
James

We are no longer in the gas discovery appraisal business...we are now in the basin appraisal business! So who knows where that third well will be or even if there is another well. But Sclumberger will obviously be taking into account the value of their equity when we eventually sell and will have plenty to say in the lead up. Will they council caution or will they want to try and maximise the value of their/our equity. Will they be looking to sell their stake when we do or will they hold and not fold! I know that when I asked James at the Mayfair bash about Schlum possibly being interested in our equity he smiled and said he never thought they were interested in owning the project...so front runners have to be Shell and Repsol, for my money (& shares!)............

Crude....enjoying a sunny Friday afternoon on the Downs!

Yoghurt, the person who asked that question of valuation that you refer to was none other than me. It's something of a hobby horse for me...what value can we derive from our prospect portfolio in a company sale? I've had it answered before but I felt it needed re-asking in the light of present circumstances. Pity we did not get the full answer but maybe we never would have, despite 'spirited' interjections!