Member Info for GingerBear

Morning to all.
Unless I misread a post some days ago pressure was brought to bear on the minister responsible by the IMF, who have loaned monies for development of this natural resource. I think the minister was "replace" and just perhaps there will be a bit of butt kicking by the new person to ensure AAOG receives the funds owed to date and the Govt continues to receive financial support. A vain hope but a hope none the less, especially as this has now gone public.
GB

Well said Mahatma
The board is really not a good place to be, and many of the poster boys to whom I gave some credence have followed the herd down a very muddy and unpleasant place.
The speculation is fueled by a level of "misinterpretation" deliberate or otherwise of the deal and a lack of knowledge about what has been offered and what is not possible. The deal is for the Tendrara and Meridja Licence, not for any part of Sound Energy PLC. Why would anyone think that from what has been published todate. If a hostile takeover is to happen, then 300 million shares have to be bought by this "private vampire of a company" and where is the evidence of such an event.
The bottom line for me is that SE ran out of money, even thought we had $14m in the bank in May 2019 and having missed the gas bonanza we were unable or unlikely to raise funds for future drilling.
If the deal on offer allows 23% (or 14% ) of a major gas find other than TE5 and SE are carried for that drill then I am happy to hold what is left of my shares at this low price. But I would like to see what is on offer, not have rabid speculation from no nothings who are simply venting their spleens.
Ginger bear

Still here and still holding, and for what its worth I can still see a possible future for the long term holders of this "sad package". Not £5 per share as was promised, but under the management of others, whom are investing a substantial sum of money - with I assume the approval of the Moroccan Authorities and OGIF and Schlumberger . The region and the geology convinced me 5 years ago and had I not been greedy I would be a happy man at 96p, but I was greedy and let that pass as water under the bridge. There is gas in the region as we have already proven and I cannot believe that TE5 is the only commercial gas in Tendrara.
We are where we are and the future MAY be rosier than is has been for several months. At least we are all now aware of geeks bearing gifts and that is not fat thumbs.

Ginger Bear.

Following the not too shocking speculation over the Lancashire fracking site and the enthusiastic (yet unproven) opportunity at Horse Hill announcement last week is there a likelihood of a major push by our partners for Balcombe to be pursued with more vigour. It seems that GL is more enthusiastic over the gas prospects than the oil prospects , but it may focus minds (to our benefit).

GB

While I am here is it safe to assume that another monthly payment will be RNS'd this week with our support grant from SNPC

GB

Hi Barking Crazy
I agree with the list of management slip ups that you have posted, but many of us are of a mind that the positives outweigh the negatives. In spite of the slips the fact that the Djeno has been drilled and is flowing holds massive promise in an E and P world of great risk. I see this share as a risk...but a very limited risk unlike many E and P who will remain nameless.
Ginger Bear

Could the multiple reports be at the request of an major looking to JV, farm in or even buy the company?
GB

Amazing how many people have developed hindsight over the past few days.
If the LE is as positive as most hope them even 18p would be a bargain,

GB

I keep banging on about schlumberger and Sidi. I still think that they might be a runner for the farm in at Sidi with the pockets of gas in the west, near a pipeline and a ready market.
Still here and still looking for a profit after 6 years. sadly no funds to top up and break even. A steal at 11p

Gingerbear

Thanks Tiburn
an excellent summary and analysis of where we are and where we might be.
Lobon makes an excellent point about SNPC benefiting from any production increase in the repayment of debt and one assumes that James and David have seen that little wrinkle.
Looking forward to a good month before the MAY doldrums arrive on AIM.

Ginger Bear

Morning fellow masochists
Ginger bear is still here and like many hoping for a positive settlement once TE 10 is reported and some confirmation of flow. I am still wondering about the future after TE10 and the relationship between any purchaser and Sidi Moktar.
all previous indications offered SM as a 10TCf (ish) potential in small pockets of up to 1TCF.
If this is only to be considered as a gift or inducement to any potential buyer then its one hell of a gesture.
will Sm become Sou4 in a JV with buyer or Schlumberger or just lost value to us shareholders.

High hopes and level expectations as still in profit.
GLALTH
GB

Evening all
My first post for months as I have diverted some of the funds I held in Sou to other ventures. However I still hold enough to make a difference and am keen to read what JP and BM have to say tomorrow.
I might argue that the principles of what JP is trying to do with Sou are still valid and it appears that those in power in Morocco are also hoping for a greater boost to their energy supplies, but its difficult to be upbeat when the information coming out just hints at jam tomorrow and not jam today.
Still O and E is not for the impatient or the faint-hearted so enjoy a beer on my small share holding and safe journey to all attending.
Some feedback after the event would be welcome.

This weather is playing havoc with my trout fishing.
Ginger Bear

Probably an order placed early this morning and done in small chunks.
could be a sell or even a buy late reported

Morning all
A rare post from me on Angus since 4.5p recovery after buying at 30p+ last summer.
Following the multi tremor problems for Caudrilla up north (accents permissible) will there be some pressure from the major interest to get Balcombe producing faster than previously anticipated.
GLALTH
GB

Trellis35
apologies for my libel on you condition.
perhaps the strong mate on the end of the rope was Schlumberger and for whatever reason they were not securely belayed. I am not convinced that the contempt debate is fair, but perhaps accept the lack of compromise may be a valid point. I think that JP may have been the final arbiter in a heated debate between the experts and I sincerely hope that he was not making the drilling decisions. He is finance through and through.
Enjoy a wet weekend
Ginger Bear

Partridge has been offering an ambiguous defense of the team today and I have enjoyed the not so drunken ramblings of Trellis and Fellrunner.
The question that I have in mind is would a well funded major have drilled away as they did in Algeria until they hit the jackpot. I assume that in the early days of Oil and Gas in North Africa they were able, once a hit had been made to drill close to and radiate out until duster time.
With todays technology were we too ambitious in the initial stages of morocco? With hindsight perhaps a closer inspection around TE5, and perhaps TE1 and 2 might have given an earning field by now and then move out.
However JP has always said the Sound Energy would be a high risk, high reward, rinse and repeat and sell company and we have had all of these to date, except perhaps for some like me who did not take the reward when we were 90+. Hindsight is a wonderful thing.
No matter how I feel about the way this last week has gone I now feel that I was over ambitious and did not obey the simple rule of a profit should always be taken to de-risk with AIM.
Lesson learnt in this case and onwards and upwards to a success (or not) with TE10 and 11.
No-one to blame but myself. JP has assembled a good team and I do not believe the conspiracy idea with Schlumberger on board as they are world leaders. High risk is what the man said and high risk is what we have....but what if

Ginger Bear

Afternoon all
the time line that ONHYM have will be connected to the need for independence in energy asap.
The PI's timeline is, of course, unpredictable, as for some of us we can wait for 2 more years - we hope- for LE. For others this is a route to a more comfortable old age. There seems to be a real interest from minor oil and gas companies in Morocco who would like to imitate SDX and their success so perhaps an asset sale of Sidi to allow someone else to do the work would give a return to the shareholders as a "dividend" and perhaps a future reward for TCF's recovered over a certain volume. JP seems less than keen to work on SIDI.
If a deal is done then the "so now prove it before we pay you" seems a very risky deal to me, or am I being too cynical.
GB

I accept tht you did not suggest a conspiracy - accept by implication, so apologies for putting words into your mouth.
As you say we may be poking around this time next year and although any delay is disappointing I would rather be here next year than lose a very high % of my investment. The dilemma all holders face is, by its very nature, do I go or do I stay
The rewards of success on an Algerian scale somewhere on the licence is what holds me...foolish or not....
GB

Jezthefez
A well scripted rant and one shared by several (or many) who assume the theory of a BoD who are hell bent on screwing us PI's into the ground.
I don't share you view of the team. I share your disappointment of the result of the first drill, both financially and emotionally but I do not accept that this is a conspiracy.Too many other eyes are watching the dealings of the company to allow such subterfuge.
30% is not a certainty and we have the same disappointment to face with TE10 and TE11.....But we are all here for the ......But what if they do scenario.
I guess you hold shares or hope to get in lower than 15p or perhaps........have other purposes in mind.
GLALTH
GB

Good post, and a fair summary.
with all the bot trades we are seeing lately, and in the knowledge that every sell must have a buy to balance, is there a big buyer out there.
GB