Member Info for jacklevi

trellis I`ll take a bit of optimism where i can find it far better than the day to day doom laden posts of people with no other outlook but failure we`ve had that served up to us for the past three years from a government with no confidence in its own people.If people think constant carping achieves something or will alter whatever the out come of SOU then continue to self harm for me it`s become very boring.

Would be nice to get an update in the coming month that the marketing is going well and talking with interested parties but think it will be sept before any significant news will be announced just a case of marking time till news drops.

What a depressing and defeatist lot of posts last night. I`ll give Boris a ring and see if he can pop in and spread some optimism here :-)))))))))

seaton I wish some of our politicians understood that fact.

JEZ I suppose that option would depend on ONHYMN having the required skill set to take this forward with the priority to have production by 2021 further exploration could then follow on from this but my belief is they would prefer a co. with the resources to combine both these aims simultaneously.

medi My own feeling is SOUs days of exploration is over our only alternative if no buyer is found is to raise the finance to develop TE5 into production something SOU really do not want to do so a buyer will be found its also i believe what the M/Gov. will ensure happens.

ddboy i think when the co. announced that executive pay would be reduced from the 1st of august some interpreted this rightly/wrongly ? to mean the deadline for bids would be the 31st of July.

Jez I really hope your right but if the deadline for bids were? the end of this month then i would think some preparatory talks would take place before any announcement that they are in formal talks.

keep agreed my guess is early september will bring some news.

Mike thats what i thought but some posters recently had given the impression it could be used to continue our exploration program something i doubted thanks for reply.

Could someone clarify re- Enigas financing would this financing be for further exploration or tied to the development of the TE5 Horst to insure production by 2021?

testpack3 It would represent a 250% profit for me and the thought of more drilling fills me with dread it would require either dilution/debt to continue down that road we must remember this is not a decision that is ours to take it would require the agreement of our partners.

meb If thats the best deal on offer i would accept it at least we will finally see what our investment has been worth.

Jez What your describing is what investing is all about people buying shares in a co. that they see is under valued we had the same choices to sell earlier and buy at a lower price i and many others chose not to do this if you are convinced these people who have recently bought in are going to make a killing then join them.

Jez Let people decide for their selves if the offer is fully reflected in the sp i will quickly sell once Tendrara is sold there`s little to come back for.

So if an offer of say 35p is announced and the sp is 9p then the sp should rise to 44p is this correct?

SO Thanks for clarifying that i have not been involved in a asset sale before hence my "not sure" in my post.

Shaun could you give us an example of this.? as i posted i was not sure you obviously have had experience of this.

JOHNNY If it turns out to be a co. sale and not an asset sale the sp will rise to near the offer but with an asset sale the cash from this would go to the co. not sure this will be fully reflected in the sp as the intention is to distribute the proceeds to shareholders and not retain it.

Most of us are marking time waiting to hear if an offer is going to be recommended to us does anyone know if it is to be voted on what % of the vote will be required for the sale to be agreed will it be 50.1%, 2/3rds ,etc it is probably in the co. constitution but no sure how to access this.