Member Info for crudehope

Very droll Fellruner! But it is very unusual to announce a 'fireside chat' the day before...something is urgent & the game may well be "afoot".....Dr Watson!! Why the urgency? What news could prompt such an urgent company PR exercise? If you believe Fellrunner (his witty rejoinder) the 'Fireside Chat' should have been announced weeks ago, but true to form, they were delayed...lol! But this isn't a train timetable to be criticised & analysed to the enth degree...this is oil & gas exploration - where nothing runs on time; there are no daily commuters & neither are there guarantees of a final destination...you pay your one-way fare & hope to arrive - the richer for the experience!!

The cat is very much among the pidgeons & gossips will gossip! Could tomorrow be a damp squib or will there be something urgent to talk about...watch this space & be prepared for anything!!

Bullheed, I'm truly sorry you feel that way - so much so that you felt the need to sell out. I do sympathise with your frustration & perception of a 'gravy train'...but imo it simply isn't the case. if you read up on historic cases of field development you will be more aware that it takes a great deal of planning, time & financing. Bringing a new, world-class hydrocarbon frontier to a gas hungry market does not happen overnight. It was always said that from discovery to production took at least 8 years! Wouldn't you have been happier in your investment had you been more aware of just how complicated a process we are undertaking? I know James well & he has a great deal of integrity. As was illustrated in Moroccoknow's post of a JP reply...he takes all the criticism to heart & he feels the pain & frustration of PIs...but he will not compromise in his quest for maximum shareholder value whilst doing his utmost for the kingdom of Morocco!

Good luck in your future investments.

Crude

Moroccoknows, thanks for posting your reply from JP...just goes to show how careful they are being with our three well campaign. They can no doubt now place a knitting needle in the exact spot they want the drill pipe & have backed up their cash position so all is being lined up nicely now. "Back in the limelight at full voltage" sounds good to me if we even get just one of the three wells right! I am sure we haven't long to wait now & even if we have who cares...getting it exactly right takes time & I am more than happy to accommodate any delays on our road to success!!

BTW, I read the Sunday Mail (occasionally as my wife likes the crossword), Money Week & The Week...when I am not reading books. My latest book is entitled 'Discovery - The Search for Arabian Oil' by Wallace Stegner. It is years old & details the very early discoveries. It will be an inspirational read of how the yanks discovered vast amounts of hydrocarbons...without the very latest technology we employ! When reading it I will, of course, be thinking about us in Morocco!!

Petroleumsng - "who is Luca"...seriously? He was only our head of Morocco operations...is all! I think maybe you need to do some more researc to justify your continued investment interest in Sound Energy?

#boneup!

Testpack, you don't think James has the cojones or the dynamism of the SDX boss...I've heard it all now! You obviously don't believe that JP can 'get things done successfully', ala Paul Welch. I agree, James has been farting around building a team of experts, partners, collaborators & stakeholders including Continental investment, OGIF, Schlumberger & Enagas & presiding over a huge scientific ariel & ground survey when he should just have been issuing billions of shares & blindly drilling holes in the ground at a rapid rate of knots! had that been the case we might well have - & been - finished by now!!

Quite so PNE...why would he?

Can't argue with that eric...it's everyone's duty to themselves to derisk, if & when they can. it is not always possible but should be a general rule of AIM investing.

eric, we could have done with institutional support years ago...that ship has sailed & we now have Marco & OGIF. I can't see what an institution would bring to the table at this stage except to increase our share base. We started out as a retail stock & we will most likely be sold as one - if we do not take that FID to develop the concession.

Eric, so JJ is not earning his pay in the GSA negotiations...I would imagine as our CFO he is at the heart of it. Might he also be involved in negotiating a farm-in for Sidi Moktar & any possible further funding that we may or may not need? Hasn't he been involved in Investor Presentations...who knows what else is going on behind the scenes - including schmoozing potential suitors... I don't imagine he is exactly twiddling his thumbs at present...imo.

Shaun, but that's a 'given' with most junior AIM companies that are exploring for oil or gas. My point is the risks have been mitigated & reduced as far as possible for a smallish company such as Sound Energy. Of course, we need more success with the drill bit to maximise value but everything that has so far happened in our quest to find it fills me with confidence. I don't believe JP would be considered an abject failure if we did not succeed with these wells as he has already created a certain amount of value...we are hardly going to end up like the likes of Sefton & others who have hit the rocks & sunk on AIM, losing everyone's hard earned! Crude...imo

It means a great deal to me & is a major factor of why I am still invested...my confidence in the whole Moroccan project starts with our CEO & all that he & his team have achieved thus far. There may well be shed loads of gas on our blocks but without all the component parts that have been assembled under James Parson's tenure, they could have gone undiscovered (& of course might still)...you only have to look at Fastnet to see how things can go wrong when the groundwork is not properly laid...finance, expert team & partners!

Bamps, like you I was impressed from the start with James P when he was our CFO & then when he went on to become CEO (ousting previous incumbent Gerry Orbell) he impressed even more. LTH have plenty to be grateful for his appointment. All will hopefully benefit from that fateful moment back on 11th October 2012 when James assumed command & started building a mid-cap oil & gas company...divesting us of poor assets, assembling his expert team, bringing in cornerstone investors & acquiring world-class assets! The process is ongoing & now may be considered to be in its final stages as we move ever closer to that three well program that should unlock the secrets of the Moroccan side of the Atlas basin, leading to the sale of our company - Sound Energy!

I'm after a final top up sometime in July pre-TE-9...wonder what price I will get! Anyone buying at these prices is getting good value imo...

Flamemamer, nice purchase mate! I'm even thinking of adding a few myself but funds won't arrive until August...so maybe won't get your bargain basement price!

Neptunes, if this was the Radio 4 program 'I'm Sorry I Haven't a Clue' I would have to stop you for gross exaggeration - Islam has only been a religion for approximately 1400 years! But in a case I know exactly what you mean. Crude...only joking...

Fatty, that RNS was a little short on detail: what toothpaste is being deployed with what kind of toothbrush? What is the expected time of job completion & what teeth are you targeting? Have you completed an EIA on your mouth & what comes out of it.. Slurry is not something you can scrub away...

Egg, I'm sure you would get quite a few takers at �3...with no further risk it would be an attractive & hard to say no to offer! But if we feel we are not far off being underpinned at anywhere from here to �1 ish then I think I am ready to take the limited risk to my capital that the well program affords...limited downside but who knows how much upside! To be honest I wouldn't argue with either scenario & trust Jame's judgment regarding shareholder risk exposure. If the England footie team had our two star strikers (Enagas & Schlumberger) up front we would be sure to bring back that trophy!

Orangeviking, the next Golf R is going to be 400 horses...just saying................................

Grayam, I did notice you asking lots of questions in Norwhich - good old. Scrutiny I thought! I'm glad you didn't sell any mate - not yet anyway! Hopefully we will have that beer down in Sussex one day. Are you in Sevenoaks tomorrow?

I wonder how much experience James gained at previous Canadian employer 'Interpipeline' came into play at the negotiations, even though I recall he didn't work there too long. AFG were a superb contact to come out of our marriage with OGIF! The period of "intensive news flow" has only just begun & we have had 4 RNSs in 4 days - one can hardly imagine more intensity but hold on tight because we know there is much more to come with a high chance of some surprise news via Luca! Booking P1 reserves once we have signatures on the BOOT & GSA should provide plenty of icing on our cake not to mention a significant re-rate!