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I agree but I have on my own rosy glasses!
That said, all the shenanigans on the SP just now bother me not a jot as it makes no difference to where we are now. I have it in my mind that if we find very little (that is commercial) then we will probably end up selling for something a little south of where we are now. That would be well below my average, but I knew that a while back and that's part of the game.
However, with the rosy glasses back firmly on, the upside is much more significant. I also don't believe that there will be a gradual rise if TE-9 comes in then followed by more if TE-10 succeeds - I think that if TE-9 comes in then that will be the 'proof' that is needed to persuade investors and the Majors that TE-7 and TE-9 are the evidence that there is much, much more and they need to get in fast
Just my opinion...………..
GLA
H
I can only offer my advice as an idiot who put more than 50% of my money into this AIM share at around £1 last year.
As an idiot I cant imagine you would want to take my advice but then you might get a rare sensible post from someone else.
Advice = Spent a long time finding place to make hole. Now making hole. Hope we will find gas at bottom of whole in next fortnight. Suggest you buy some (but not more than 50% of your wealth). Or maybe not as there might not be any gas there. So, no, don't buy.
Right off to see if I can afford to get myself a pot to have a wee in.
H
preceded by Greed.
We are all (should be) old enough to make our own decisions
H
You do know that the bit we are interested in is the bit about gas and hydrocarbons?
The rest is nice pictures.
Thanks anyway though, it doesn't do any harm to have constructive feedback!
H
Wanger
I agree and I wasn't trying to be clever (as if!) but I think there is a need to be aligned to what SOU is trying to do. I use that phrase carefully bearing in mind comments in the past about the alignment of Directors' interests but ultimately this is primarily a good old fashioned exploration play.
My point is that when we hit 78p, which I think we will and soon, this will ruin all my attempts to sleep until when we get to the end of this. I have a relatively high entry point (although I have averaged down to a reasonable level - but not 32p!) but it is fairly irrelevant to me as I will not be selling out for a small percentage increase when the whole story has been about the big potential. So I will have to watch the SP go past a point where I make small money to a point where it either explodes or falls back to a level related to the existing discoveries and other permit areas. That's what I think will happen.
I have other investments/savings so maybe more gung ho than some but that is my thinking and I will buy/sell accordingly but it makes sense to me to tie my plans in with what the company is trying to achieve. The fall back position of the development/sale of the proved resources and permits to me is worth a proportion of the 78p but that is not the target.
We all make our choices but there will be some nail biting going on soon...…………!
H
I understand what you say but I don't see that it fits in to what SOU are trying to do ultimately.
A good GSA price will drive confidence and a movement upwards in the share price which, as far as I can see only achieves two main things -
1. Allows short term traders to make money (and this is not a criticism just an observation)
2. Makes it easier to raise additional funds as required
Get it announced to reassure everyone, let some people make some trading gains, but ultimately many of us are here for more than 78p.
H
Hand back the gloves Crude or there will be fingers pointed at you for purloining company property that we others don't have access to.
Simply put, if you get a pair of gloves then we should all get a pair of gloves.
H
Look on the SOU website Raj - hopefully that will help
I think JP made it very clear. The plan is to make Cash (times three) with only the very honest and reasonable caveat that it is beneficial to Morocco.
If that Cash is offered before we drill a hole then why would we?
Obviously that Cash has to be at a level that meets what we all want but that is of course the game of poker that has been going on for a long time.
We all know and hear of the concerns about how we can sell our assets but somewhere on the other side are representatives of the Majors who are balancing their decision making. They are human beings and will know that if they get this wrong then their bosses will be asking why they ended up paying 10 times more than they needed to had they put a decent early offer in. I don't deal in O&G but I have been involved in negotiations not dissimilar to this in other areas. Bottom twitching stuff.
My personal view is that maximum value will be obtained by all three drills but there is a balance that would make sense that the BOD would have to put to investors.
H
'consistent as of late'
Most have been consistent in their understanding of the objectives of Sound and most have been aware of the options. Selling early, at a serious discount has always been an option and indeed we are all aware that there have been a number of approaches.
Your 'as of late' at least acknowledges that your view of Sound in the past was dramatically different from 'of late'.
No doubt you will claim this change was due to your much higher understanding than everyone else but I have my doubts.
Just out of interest could you clarify which insightful questions in the FSC came from you?
H
Well done. Have a gold star.
Thought some of the response to this was odd. There were many 'conspiracy theory' posts about the delay in the rig being erected, the lack of a signature and whatever else. Complaints about the falling price and why nothing been done and that someone somewhere was selling for various reasons is a bit different. So, SOU issue an update RNS that by its nature specifically says that there is nothing going on with all the processes and that all is well (something that could be excellent evidence at a later date if there was indeed shenanigans) and then calmly explains what it is they are doing in the various areas. In fact one or two very specific timescales are mentioned (something I wish they wouldn't do as it just doesn't work well in O&G) and also gives us a less concrete update on Sidi.
They did all of that and still the unspecific posts come. The reality very certainly is that the discovery of additional assets is what this is about and we will learn that soon, The value of SOU without those additional assets we can discuss for a long time but supercars will not be an option for investors I fear.
And around us a correction is taking place which is having an impact on SOU either way but one of my reasons for having a punt on SOU was my perception that the stock market was in bubble mode and I would rather have a share of something that people will really need - Gold or Gas (and I have a bit of both).
We will see soon but good luck all.
H
My observation is that JP had to do this at some time to make sense for him. He must be aware that there will be news soon that will severely limit the abilities for Directors to take any action with their holdings.
I am not sure how he 'derisked' yesterday - he swapped a smaller number of SOU shares for a larger number of SOU shares (increased his risk?). If SOU ends up worth nothing then he has a lot more of nothing than he had. Now if sells all of the new holding in the very near future then I would be unimpressed.
Good to see the ongoing debate and thoughts but at this late point it is now very much the drill that will be doing the talking here.
H
And when I have ‘focused on the actuality’ what do you want me to do? Is it sell like JP or Hold like you? I dont get why you post other than you like stating the obvious. Stop assuming we are children. The information is there for all to read. It seems like you need to win either way - succesfull drill and profit or unsuccessfull and you will say you were right about JP. Good luck anyway. H
You do know that the Accountant found gas at Tendrara don't you?
I assume the Professor wasn't interested in the few hundred BCF that Sound subsequently proved.
Whether there is more we wait to see.
H
Working away and driving today so saw the positive support news from SLB yesterday followed by the concrete information about the site and commencement of work.
Assumed that everyone would now be happy that two generally positive RNS's that confirmed progress had been issued and that JP had been out making things happen.
Come home and everyones having an argument and the price is down 1%!
Doesn't really bother me either way but my goodness people can be strange creatures!
Keep the RNS flow in the right direction...……
H
I refer to my previous post.
You have something that is annoying you but until you add some facts to it then it is just waffle.
What might be is a point fr discussion but your comments are, as I said, pants.
H
My what a clever post. Nobody has ever tried that ‘if you reply then I win’ pitch before have they..... Disciple or not that I think is pretty pants. H
Dont understand second point on SLB - surely they are where they would expect to be with this high risk aspect of their amended strategy with the potential gain far in excess of their investment albeit like us all they would have preferred earlier success on TR8?
8.35 for me ta
H