Member Info for ericnat17

Bigl

if JP has been having talks then the we could get suspended at anytime. I think that was the point of the RNS, to formalise the M&A Process. We all have been given warning.

Hi Sounding off

Just pointing out that even with the worst case scenario, it look likely that a 60% premium from here. I can understand that we may get a lot more. I bought more yesterday and may buy more....its only SOund energy fatigue that prevents me from sticking in £100k

Sorry Ponkey Did not read your post.

I would be more pssimistic. The 20TCF is OGIP. So i think it hard to justify getting 10% for that.

If we go for the worst case scenario:-
We get half of what the horst is worth let say 12p
Then we get 1% for the 20TCF that another 5p ish
and we have 3 p for sidi.
Minus the 3p for Debt and Sale charges.

That still gives us a 60% rise from here, and that not to bad. The encore deal saw an offer at a 55% premium to the SP. I would love it to be higher, i hope it will be higher, but just can not see anythhing like some of the figures being talked about.

Just to throw another potential buyer into the mix, china has a sovereign wealth funds of over 1500 billion dollars.

It is always looking for influence at country level. I am sure that the license will go to a regular O&G company, but stranger things have happened.

Boris is the bookies Favourite

L2
21vs28

sorry should have said 1BCF = 0.167 million barrels

Just for balance 1BCF = 5 million barrels of oil equivalent, see below.

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2018-approximate-conversion-factors.pdf

Good luck Luckyman.

Hope you make a packet and then come back and buy back in.

Yeah testpack understood, just don’t like my posts being used in the wrong way. Sorry if I appeared a bit testy, you can imagine that all LTH nerves are a bit on edge.

As I said I dint like BB tiffs, but that is not going to stop me defending when required.

Peace out!

Wrong test pack, I said it was too late to recalibrate the seismic. Wow, wrong again. Well at least you are consistent.

Hi Longwait

As a couple of people have said today, none of the posters on the board including myself have any idea what the deal will look like. But I have and opinion and it is lower than most. I have a few hundred thousand reasons why i want it to be more.

Good point Long wait

the current seismic is flawed, that was made clear to me and also inferred at the Deep Dive. But that does not translate to the rest of the license being worthless. It needs more work, more drills and more 3D.

IMHO we are not getting a deal for £1 or 50p or even 30p. We will get something north of the current SP, but not as much as I want or other posters believe.

Hope i am wrong and JP suspends the share tomorrow and we get 102p, but i feel thats very unlikley

Thanks Lelo.

I guess on reflection it does not really matter where the debt sits, it built into the current SP.

It will give Sound NewCo a clean balance sheet.

Hi Crude

I had a email exchange with JP on this subject and it almost inferred that the marketing had gone down the route of an asset sale. I would imagine that they may prefer the sale of Eastern Morocco but if there is a bidding war for the company they are not going to resist the process.

Good luck all LTH. and you to Jones

Well from you Jones I will take disgusting as a badge on honour, thank you my darling.

Woodrow if we go again with sidi there is a chance we will get rinsed again, don't be so negative, ;-}

Jones,the company has said it is an asset sale. Look at the RNS, do you need instruction in everything?

Jones

there is no change of control therefore no need for a pot of money. It really is not that difficult a concept, then again maybe it is, sorry to judge.

Just a little bit of research will show you that the debt has been secured on South Morocco Ltd AKA Sidi Moktar.

So the deal for selling the Eastern Morocco asset probably will not involve reconciling the Debt. Directors Severance is not an issue because it is an asset sale. not a company sale. BM and JJ will move on with no severance, they have performed poorly and can expect little reward.

So the question is what is 300BCF worth. onshore, tax free for 10 years, and the upside in the area the size of Belgium.

Not a valid point Exploration, Sorry.

We are not having a change of control, we are selling an asset. So nil points for that one.