Member Info for JezTheFez

I have to say, I am still confused by the following:
- the timing of the informal chat and pint
- the choice of venue. Why so posh? Mayfair??
- the guarded choice of attendees. Why wasn't I on the VIP list??
- the number of attendees restricted to 50 when the venue can accommodate 250
- there will probably be a tab behind the bar. Why spend shareholders money on booze when we have had three dusters in a row, no GSA, no decision on Te-11 location and even if we'll be actually drilling it in the first place, the fact that we are nursing and almost £30 million debt and that the Te-10 testing and eventual results are dragging-on and on in time.

I have to say, on a serious note, I remain very unimpressed with this decision and hence why JP could have contacted me and I would have organised a buffet instead. It's almost as if there is a feeble attempt to keep the share price buoyant so that a certain someone can exercise his warrants whilst the hard working, honest PI is being duped and led astray once again by pink, fluffy hype. By throwing this event at the time and venue that has been chosen, maybe he knew most of you would fall for it like a bunch of crazed Parsonettes. Well I for one am not fooled and blinded by this hype. You run off and have your glass of Baby Cham. I will judge the company and JP by the results which are forthcoming and not by how swanky a venue he can choose.

Chuckle Gas plc, the downmarket, downstream, Cypriot onshore methane extraction company is DISAPPOINTED to learn that the informal chat and pint will be held at The Ball Brothers venue in Mayfair and not The Chuckle Brothers bedsit. JezTheFez CEO and Chairman of Chuckle commented, "I am shocked to learn that James Parsons, CEO of Sound Energy did not choose The Chuckle Brothers over The Ball Brothers. Whilst our venue clearly lacks swankiness, we could have laid out a wonderful buffet consisting of spam fritters, kebabs, chips and deep fried Haribos. There unfortunately wouldn't have been any alcohol present because our Chief Alcohol Officer, Trellis, has drunk our supply dry."

Chuckle Gas have discovered more gas onshore Cyprus.

The only bit of the jigsaw that still confuses me is where C4E is going to fit in with all of this? I am wondering if C4E could absorb Sound Newco....so it becomes JP's and Marco's baby? Not sure...but worth a thought.

Shaun?

Instead of mocking me, why not listen to some of the ideas I am sharing with you and make some comments, which aren't aimed at getting personal with me. I believe what I am saying could hold some merit, but we'll have to wait and see. Unless you have any more wise suggestions, whilst you're scrubbing the pan?

If JP was selling the whole company off then he wouldn't have bothered registering 'Sound NewCo'. I guess he was sort of hoping nobody found out about the new vehicle as he is by now having to play his cards close to his chest. The answer has to lie in an asset sale in my opinion. I suspect that SLB is not interested in Sidi and despite JP's efforts and due to there being risk associated with drilling there as well as the additional cost to buy the asset, they have probably decided to stick with the Eastern Moroccan assets. In the interest of time and money and tax efficiencies etc, JP has had to come up with his Plan 'B' and this is his Plan 'B'. I don't think it's all that bad. If the gas is unlocked over at Sidi and we all know there is the potential of 11 TCF estimated over there underneath the salt seal, then why not have a bash at it? So long as the drilling is carried and they conduct thorough 3D seismic over the drill locations and do it right, then they may get some success. We know how huge just 1TCF of gas is in Morocco. Anything north of this and everybody is quid's in.

Unfortunately despite JP's efforts, he hasn't been able to find a buyer for the whole of the company and so has had to go down the route of an asset sale, which isn't all that bad. Just means we may get two LE's. One this year and one next year.

Woodrow,

The answer to your question is hopefully contained in the post I put on here earlier. Sidi, the remaining asset, gets put into the Sound Newco vehicle for tax efficient reasons that somebody alluded to. How does it get financed? JP gets a farm in partner to carry the drilling for a pre agreed share of Sidi. Some finance may have to be raised in order to carry out some more detailed 3D seismic, which shouldn't be too tough. The finance to carry out the seismic however, will probably come out of the pot from the LE. I.e. some money is left in the kitty in order to go after Sidi and the rest is shared amongst shareholders who will have a LE based on the sale of the eastern Moroccan assets and shares in the new vehicle, Sound Newco related to their original holding in Sound Oldco. You'll hear a lot, lot more about Sound OldCo and Sound NewCo when JP explains all in a couple of months time by way of a fireside chat. Thanks.

He'll no doubt want to exercise his warrants before releasing any Te-10 results.

It seems likely that JP had attempted to sell the whole company and has come across a number of stumbling blocks in doing so and has had to resort to Plan B, which is to go down the route of an asset sale. This is where I believe Sound Newco comes into play.

Following the results either from Te-10 and or Te-11, I think the Eastern Moroccan assets will be sold off to Schlumberger who will increase their stake in that asset. Sidi will be transferred into the Sound Newco vehicle and JP will either look to sell it as a separate entity into the new financial year, or choose to elect a farm in partner and go after the prize there in late 2019, possibly with a 2 or 3 drill campaign - and probably fully carried too with some sort of arrangement whereby for every TCF discovered, shareholders in SOU OldCo will receive £x pence per share that they own. I therefore believe we will have a LE just based on the Eastern Moroccan assets and also a future stake in the Newco drilling over at Sidi. Luca's baby may also be part of this Newco.

The LE could actually happen quicker than people first anticipated, so watch this space as it will come quickly and catch a few people out. GLA.

Jizz The Fizz

Let's hope that no one drives around with plate number: DU57 ERS. Even the King of them himself wouldn't dream of it.

Shaun? You still haven't cleaned my toilet. You're right: you're definitely not up to the job of Chuckle Gas plc's janitor. From this moment on you are flushed...I mean sacked.

Shaun,
No good you worrying about pub locations. Have you cleaned my toilet yet? If not then get to it please. STZ has a biggy he needs to download after the chicken kebab and chips I made him for his tea. It's gonna get messy in the Chuckle household.
#livingthedream

Yeah, your incessant ramping, Dick. It is misleading to say the least.

I have nothing further to add to A1m's excellent posts. Spot on, I believe.

Crude,

Your salary will be like the olden days. You will be paid in salt, so that you have enough of it to throw at any well SOU cares to drill, God help us! Other than that, the odd bag of chips and a pint of London Pride.

We are a vey downmarket company with downmarket directors, so don't expect anything up market from the Chuckles. I dare say that the aforementioned will come as any surprise.

Crude - we employed you for your good wit and charm - not to mention your expert salt throwing skills. I bet you feel so honoured that your are the Non Executive Chairman of Chuckle Gas plc. It's like a poison chalice. The job that nobody wants akin to the England Football Manager's job!

Chuckle Gas, the downstream, downmarket, onshore Cypriot gas methane extraction company is DELIGHTED to report that Richard Eliis aka Trellis has retained his position of Chief Alcohol Officer (CAO). Recent blood tests confirmed that he has wine flowing through his veins at a pressure which can be deemed to be "commercial". JezTheFez, CEO and Chairman of Chuckle commented: "We at Chuckle Gas are delighted to learn of Richard's blood results and that he will be fit and well again by April. We have every faith that he will be attending the Liquid Event in circa 12-18 months time in order to give his expert opinion regarding the choice of wine being consumed that night - predominantly by Apiamma and Crudehope, who is our Non Executive Chairman"

The current share price is not to like and that IMO they will relinquish P2248 and reapply for it around early August time only to lose it for good. Not a great strategic move if you ask me, but they will try and brush it under the rug and dress it up with one or two new licences that they may be lucky with winning. I'm not trading this share or any share. I'm just trying to help some of you see the light through the woods before you lose any more money. Spencer should never have bought in when he did. As soon as I saw the RNS I thought, "no.....don't buy in now". It's already 1p lower than his buy-in price and these people are supposed to be the experts? It's laughable. Even if the share price recovers then he should know that he jumped in too soon. He could have got more for his buck and hopefully lessons have been learnt. I have schooled him and he knows it. Spencer no doubt reads these boards. Well he has been schooled by me, JTF.

That Spencer fellow has wasted his money. I could have told him to hold fire and he could have saved thousands of his wasted pounds. Just because he got all palsy with Cluff doesn't mean you chuck money at this ailing dog. Never mix business and pleasure. Cluff must have schmoosed him something chronic. Should have listened to me.

This is now a share in rapid descent. Just look at the charts. It's lookin southwards with gusto. Losing P2248 will be a bitter blow for this company and will send the share price tumbling further. This is all in my opinion and I have been very rarely wrong as of late with my predictions.