Member Info for drjenner

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

Jez, wake up, we are f’d. You are deluded my friend.

So this is what a total shafting feels like. These hosers have done me good. Hopefully, and I doubt it will happen, that they are done is this business. Anyone want to hire Brian? I thought not.

I have checked with my arse and it tells me that it pretty much agrees with Luckyman’s

ddboy, you know the saying....what happens in Morocco stays in Sevenoaks. Or something like that.

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.

I just got my ticket, I haven't looked at it but perhaps it's Golden. Now wouldn't that be nice? The SP is holding up reasonably in this quiet period and hopefully will pick up a bit during the month.

Thanks Davey, I did what I should have done in the first place and checked the website. Interesting timing indeed!

I'm just catching up on the board posts and seen mention of a meet up in London. Is this an official Sound sponsored/suggested event or an informal gathering of the SOU stalwarts? Either way what are the plans, date and time, I'm working in London at present so it might well work out.

Ogrod, I’m not giving advice so don’t want or expect anyone to “listen” to me. I suspect a lot of people would have taken 40p in November, I’d take it now to be honest. This isn’t a bad RNS, I’m not saying that. I think it leaves us with a lot of questions which once again have been kicked down the road. That is the nature of the business I guess but a bit of clarity on what they said in the last RNS re. flow rates, stimulation etc. would have been expected.

A lot of words to say not very much. Presumably the unstimulated flow test didn’t work or they would have said so. Why not update on that, good or bad? Just leaves us to speculate for another six weeks. Why not explain why they need the big guns from the USA? Echo springs to mind here but at least it wasn’t bad news. Nobody said it was going to be easy on the nerves!

PS, I should probably have said hostile takeover of Faroe rather than sale!

Crude, Gassy,

I know the numbers, we all know the numbers. I haven't given up all hope. I feel like I've been guilty of over optimistic expectations and I'm preparing to take a more cautious approach in the current climate. I'm not going to knock SOU either. I bought my first shares at about 14p and then tried to catch a falling knife after the £1 days, hence an average of 39p. A sale in the range of 70p would be a decent return, £1 excellent. I also understand the difference between the companies i mentioned and SOU but it hasn't escaped my attention that bad news is greeted with annihilation (Echo, Sound on TE9) and success barely registers. Also the sale of Faroe and Ophir (I think although not sure what happened there) give me pause. If TE10 is 4TCF I agree that we are back in the game but I'm not getting those kind of vibes from the company for some reason. Perhaps I missed something?

...and gas in general. My opinions only:

This price rise is nothing to do with leaks IMO, that's just a lazy assumption from people who have nothing better to do than pick the bones out of every penny move in one direction or the other. This is a technical correction. Just as there has been no reason for the drop from 30p this rise has just as little justification. The SP will start dropping again tomorrow or Monday if there is no positive news and will dive if the news is so so. Sell now if you're nervous about the well results.

I've been in SOU for a few years (4 maybe) not as long as some here. I've been very optimistic, especially the last couple of years. Now I'm just hoping to get out with a bit of a profit (my average is about 39p). I was firmly hoping for the £1.50 to £2 per share range. I don't think we've got much of anything yet in discoveries and to think that we are getting bought for something more than double our current SP is crazy. If we give the benefit of the doubt to the results of TE10 (which I doubt will be fantastic) we might get to 35 to 40p. so if we get anywhere close to 70p in a sale I'd be thrilled. If we could get any more I'd be over the moon. i want out now for a reasonable profit for the time I've had my money tied up in this rather underwhelming company.

And before anyone asks yes I have changed my tune. I'm looking at all the other outfits that are actually producing like President and Amerisur, even Pantheon and see them absolutely stagnant. Why should we think we are any different?

MikeGP, funny you should say that, when I heard about JP’s clever idea for TE11 I thought, yes why not le t someone else drill it or at least pay for it, very clever. Good update, nothing earth shattering but it will keep us off the Valium for a few weeks. DJ