I see that Amerisur has put itself up for sale. Their SP has leapt by 35%.on the news. Just imagine if we were to announce that we were for sale, our SP might also leap by a similar amount. We'd be north of 11p at this point. Happy days ahead!
Shed, could be you're right but a shake up would also show mugs like us that they have our best interests at heart. It's not going to happen either way. Not much we can do other than wait and see what type of deal they can make or whether we go back to drilling or perhaps Sidi can throw up a surprise.
He could also show them all the photos he took when the SOU investors visited the drill site but we're still paying a lot of money for that benefit. Make him a consultant, call him in when needed or just promote a more junior up and coming engineer. I have nothing against Brian, I'm sure he did his best, but it's tough times and drastic action is needed. I'd be looking at the entire senior management team frankly.
I have to ask....why is Brian still on the books? No exploration going on and, even after a pay cut, very expensive. There's nothing malicious towards him in this question but surely they have a lower level engineer who could take over whatever remains to be done. Are we even still an exploration company? I truly hope they can get a sale so that I can move on. I'd take pretty much anything at the moment, 20p anybody?
Following the two big buys this morning I thought I'd check in to see what the sentiment was here after all of the recent disappointments. The placing was a kick in the goolies to say the least. I'm hanging onto my shares at the moment but only because I think there is a chance that there is still some upside and frankly because the entire sector is suffering and I'll wait out Brexit results. In my view management has been far from transparent in their dealings and I wouldn't trust them as far as I can throw them. They've made plenty of money out of us. I'm not suggesting that they haven't tried their hardest to make this work. It's the messages that have been sending for the past three years or so right up to the result of TE10 and then downing tools and not following through, it sticks in my craw but that's life. you pay your money and take your chance. Good luck all
Well at least I’m not alone in my concerns. I try not to listen to the daily conjecture which is why I only check periodically as I know JP responds to emails that aren’t reported elsewhere. St Mary’s Good luck to the Saints.
I haven’t checked in here for couple of weeks, I guess the daily prognostications just wear me out. There doesn’t seem to anything new but I am forced to surmise that our management team may have lost the plot. First we were supposed to hear something at the end of March, then a week later, then we were waiting for equipment and would hear at the end of the month. How about they give us at least an operational update? I suppose that testing is ongoing but the silence is deafening. I feel the SP is the best indicator that we have and it doesn’t look good. I wish I’d never heard of Sound Energy, I’ve had a shedload of money tied up here for so long and I’ll be lucky to break even, at around 40p. Those of you that are close to this every day need to just take a step back and look at the big picture with TE10. It was drilled months ago and we’re still waiting for test results? In the meantime let’s have another drinks event while we figure out what to tell them next. I hope I’m wrong, and will be the first to admit if I am, but this is starting to feel ridiculous. No disrespect to the genuine regulars here, you know who you are, I’m just letting off some steam. Regards DJ
The 18 Feb RNS said initial post stimulation results would be known at the end of March which I think was revised at the BB event to three weeks from then so around the 5th April. They did not say they would announce those results but I can’t think of a reason why they wouldn’t if they were good enough. If they weren’t good but more work was needed they may not release them until the whole process was complete. So with any luck we have good results and barring major delays in equipment delivery I expect to hear later this week or next week. If not probably bad news.
Davey, I believe value and SP are two different things. If we were around 50p and rising then £1.10 might be acheivable, maybe more. I'm just saying that the its unrealistic to expect a 4 times plus multiple of the current share price and I'm not convinced that even exceptional TE10 willl have anything other than a temporary boost to the SP. Just my opinion and I will admit there is an element of getting myself ready for disappoiuntment in my projection and also its just based on my gut and whgat I'm seeing generally in the current market.
I have to agree with bigbench. The SP is stagnant so unless the results of TE10 are exceptional I don't see us moving up much, maybe 30p, and then probably dropping down again. I don't see why a major would pay many multiples of the current SP. The days when O&G companies could go on a roll following good news are over for the time being. I hope I'm wrong because I've put a lot of eggs in this basket and just want to see a reasonable return now. I was targeting £2 until quite recently but I'd be happy with 70 to 80p and move on. Of course with hindsight we would all have sold at £1 but they were different times and a different market. I'm not pointing fingers at management, they've done what they had to do. I'm guessing that with all of the unwarranted abuse that they've received from certain individuals they all would want to move on also.