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I know some people got badly burnt here, I am myself sat on a big paper loss (average 30p) BUT please, it would be more constructive to talk about the future and support the company on its next actions. There are no points in talking down the company, especially if you are still invested here.
As for Parsons, apart from being far over optimistic at certain times, I do not think there is a case against him. TE9 or 10 would have come in he would be a hero. Unfortunately, an exploration well is has not an 100% chance of success, we were never told it had, hence the situation here..
Please keep hope, things are far to be over here, we have plenty to play for to recoup some of the losses and maybe more.
Someone asked about a special dividends being paid to shareholders from the proceeds of the sale of tendara in the FSC.
Mohammed Sighiri answered that it was being considered. I am not really in favour of going down that route but forget my ignorance but I have a question.
Would it be possible for the company to issue shares to existing shareholders who lets's says have been holding for a year+ minimum? A way to reward long term PI's.
one way or another, we should get some sort of dividend, albeit in 2 years time (long wait).
A 1.5p dividend at 5% of the share price would report to a 30p per share.
Then there is Sidi Moktar that many seem to have forgotten about, maybe some upside there too.
There is more exploration to come and surely some success will occur (even very modest it will add a few P's)
And finally, the company might want to explore new ventures in a few years time, who knows.
All the above give an optimistic outlook on the future, the real downside being that without medium term drilling success, we will have to wait a long time to see decent share price level.
Hi PNE,
The share price was 50p before and beyond, there are no reasons as to when confidence is restored we don't see these levels again. We are going to have some exploration drilling to look forward as well, I am not saying we will see 50p next month but within 12 to 24 month period it's not beyond the realms of possibility.
See below my post from last night. I hope to see plenty of blue days from now as we engage the long route of recovery .
"Can't be worse.
Maybe we have bottomed."
Can't be worse.
Maybe we have bottomed.
I am depressed at seeing this SP in the red every day, Should stop watching really and put it in the bottom drawer for 6 months at least but surely, it will rebound soon. it is ridiculously low.
PNE79
Interesting guess on your part that JP was sat beside Mohammed Seghiri to help him answering some questions, I would not bet against it.
They seemed quite opened on a dividend possibility on completion of the deal from the proceeds of the latter and of course from the first gas sales (likely on 2 years time)
what kind of dividend should we realistically expect on both?
This is wrong, see below Dempsey's answer to the concern raised:
"As a listed company Sound will still be required to announce every price sensitive operation and yes Sound would expect to have rights to receive updates. So an investor can expect the information flow to remain largely unchanged"
Well, it comes as no surprise that we don't know more now than we did yesterday. Under the AIM rules, they were never going to be able to give inside information nor comments on the SP.
The few thinking we were going to be delisted or on the verge of being taken private should be reassured though.
However, I doubt the past exercise will restore confidence in the company, the sooner we get the deal presented to us in full the better.
Short term, I fear the evolution of Sidi Moktar will struggle to push the shareprice in the upward direction.
Medium term, I hope we should see some recovery as the current share price is ridiculously low.
Long term, we could just be ok depending on the rems of the deal but only positive drilling will take us back to the levels we have been in 2017.
I understand Andy, but let's assume that not all we were told were lies.
There was a massive error with £1.50/tcf yes, but the independent valuations did give the horst a 27P per share value. the company is not crippled with debt, we will keep an interest on all the upside and we will not have to pay anything of the next drilling programme, surely, we are worth more than 4p.
On a separate note, I would like some enlightenment on a possible dividend. Would it be only when productions starts? what value would it be likely to be?
To be fair, we have to move on from that.
The atmosphere on the board is too negative, This £1.50 episode has been commented for 2 years now and has been addressed to him many times.
Time to move on and see that we can salvage from here.
I do not personally believe that Parson has been dishonest, he might have acted in good faith and has done a great PR job (in terms of attracting PI to invest).
Do not get me wrong, I am not pleased one bit about the the current SP or board's past performance in the past 2 years. I have a 30p average and can see a recover close to these levels but when? With the JV, how long will we have to wait to see a new exploration campaign under way? how long before revenue from our mere 14% interest?
Is there something we ignore that makes the deal much more than we can see?
I can't help my self thinking that there is more to this deal than meets the eye. If the deal is bad as reflected in the share price, given sounds hype history, then someone will encounter credibility problems in his future professional career.
My favoured scenario (hoped) is that the deal is revealed decent, the share price recovers slowly to reasonable levels, (15-25p) and we are back under way in terms of exploration via the JV.
We, long term holders find ourselves in a precarious position, too much unreasonable hopes have been placed on a bright future.
The whole thing has been enhanced by Parsons, with his bold statements, £1.50 per Tcf,, no one will loose money if invested at this level etc...
He did remind everybody after TE9 that the explorations programme was based on high risk-high reward strategy, but nonetheless. I never expected the SP to come to that. I read here that he got some abuse, but I am intrigued by his exit, a few days before the FSC, surely, if he thought of his deal as a good one he would have wanted to defend it or at least speak to the shareholders a last time?
Was he pushed out? was the level of aggression to great? this needs to be clarified and it looks odd to me.
As for the future of the share price, I am hoping it will recover, but how long will it take? 2 years?
Good Morning.
Fair to say communication has dried out recently. I am still hopeful we can salvage something from this hence I wanted to launch a little survey among the posters on here by asking the following question:
What is amount do you think the company will be sold for (price per share)?
Cossy
Thank-you and in terms of the SP?
Thank-you,
Much appreciated