Member Info for JezTheFez

I agree. BM really does need to do the honourable thing and step down. Ever since he has joined SOU he hasn't had any success and has now to date had 3 dusters in a row. Luca was pushed aside and I suspect SLB were bossed about too in favour of what he thought was the best drill location i.e. the decision ended with him and of course JP just went with what BM said as JP trusts him. The plain and simple fact is that he has failed and why he is still in a job baffles me. As I have always maintained along with my brother STZ, BM is the "King Of Dusters" and I suspect that would be a fitting epitaph for him. Even Frank has stopped lending his Frankie hugs to him.

It's akin to anybody who has had a run of bad luck or a lack of decent results in that they should do right by the company and resign. JP should have the balls to ask him to step aside too. We are angry with the lack of success we have had since the bloke came on board. He's useless and IMO should re-sit his GCSE in Geology. He has cost a lot of decent people a lot of money and somebody should take the blame and that somebody is BM.

Many others on this bb agree with this and want to see him go. I expect his resignation before the end of the week.

What also has always surprised me is why SOU never went ahead with deploying a 2nd rig in-country to drill multiple wells at the same time. For example, in addition to Te-10, we could be drilling Sidi now with a farm-in partner if proverbial fingers had been pulled out of proverbial holes. This one rusty rig being transported from site to site in what has been slow time, has been painful to say the least. Does anybody know when Te-10 is going to spud and when the results are likely to land? My guess would be that we don't get results until some time in February.

Is there any chance they could potentially look at running some 3D seismic over Te-10 and eventually Te-11 should they choose to drill Te-11 of course? WE have 30 million in the bank, which on the face of it seems enough money to forge ahead with this. I suspect if it came down to it, many would accept an equity raise, so long as it improved the COS at 10 and 11. Te-10 does need to be a successful well. It needs to be very much nailed on despite the fact that by its very nature, it is an exploration well and as we are all very well accustomed by now, exploration wells are as their name suggests, a bit of a stab in the dark / hit and hope.

Although yesterday's RNS was shocking, we still have two bites at the cherry and we just need at least one of the wells to be a success to potentially positively impact on what the LE price per share could be. Combine this with what we have already proved-up and Sidi and we still have much going for us.

I still believe that somebody in the SOU team needs to take responsibility for the failure of Te-9. Why? Somebody analysed the seismics and clearly got it very, very wrong in terms of its location and geological make-up. I believe BM should resign as a consequence of what happened yesterday and let somebody else take the reins for the forthcoming two drills. In the past when I have failed at any job o wasn't up to standard, I put my hand in the air and resigned. Sometimes in life when you have had failure after failure, it's time to man-up and perhaps say to yourself, "this is not for me" and to give somebody else a go. JP should stay. He is the Captain of the ship and whatever happens, the Captain always goes down with the ship or sails off into the sunset as a hero. History and more appropriately, decent drill results will be the making or breaking of JP. Much that I admire him, he needs to provide us all with a very clear explanation of what went wrong and what they are doing to mitigate risk with regards to the next two drills.

I think it was called Infinity but could be mistaking it with another company. No, EOG has nothing to do with any future SOU vehicle and is a separate entity altogether. I have been invested there for 5 years. Just interesting to see there is mention of Morocco in their RNS today. It could point to a Sidi farm-in arrangement. Certainly the timing looks right.

Did anybody else see the detail included in this morning's RNS from EOG? I have copied and pasted the sections that make reference to the fact that they are considering a licence in Morocco. Could they be the Sidi farm-in partner we are all wondering about???

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In addition, the Company intends to use part of the net Placing Proceeds to exploit a new venture opportunity in Morocco;

Hugh Mackay, CEO of the Company commented:
"We are delighted to have completed a fully subscribed Placing and are pleased to welcome new institutional investors as significant shareholders in Europa. The funds raised will enable the company to continue to advance its high impact exploration portfolio in Atlantic Ireland and in particular to bring our high-graded prospects to the point of being ready to drill. Atlantic Ireland is entering a new drilling phase and the funds raised will help Europa become part of that. The funds raised will enable us to deliver the work programme for a potential new licence in Morocco and to screen and land other new ventures"

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That alleged leak does need to be further investigated because it looks like many jumped ship and sold-up before this morning's RNS. People will be paying very close attention to the next two drills and especially TE-10.

Just glad that my brother is back in here again and invested. All hail Simonthezealot.

Wornbuffet - people like you are so easy to annoy because you are so quick to be rude. Karma has a funny way of working. I have lost here too but unlike most of you, I'm not overexposed

FAHP,

I'm invested here too. Not a great day for me either. However, just reiterating that sometimes The Chuckles call it right and still very few apologies for what were very rude comments aimed at the pair of us.

The price will IMO go cheaper. Wait for the scrap to calm down and with it too the share price. It's gonna be a cold, dank, freezing 1-2 months and nothing much will happen here whilst you gobble your mince pies.

Not tubbing it in anybody's face because I too am invested here just like you. Just want to make the point that when people say what they think on here, their opinions should NEVER be cussed down.

Thanks Hawthorn. A decent chap you are.

And don't any of you be under any illusion that the share price isn't going to take a spanking starting from today right up until the te-10 results are released next year. Expect 9p-11p IMO. Happy to be proven wrong, but the company is now on borrowed time with regards to drill success / results.

You have to admit....my brother called it right.
Apologise to him. People like Wanger, Fellrunner, WWW......go on...man-up? Or are you too weak to say sorry? Thught so.

Director buys????? Are you kidding????? All they want to do is dump their stock at any given opportunity. BM hasn't even bought any and he is the Head of Exploration. That should surely tell you something??

Trellis,

I can recommend a cheap plonk from Lidl?

WWW - shut it ! Said in a Grant Mitchell voice.

You can join the very long queue of SOU numpties that have been suckered in by JP's hype. Your golden tickets have just become toilet paper. Expect a share price of anywhere between 9p-11p in the foreseeable future. Now you might appreciate why my brother and I have been saying what we have been saying here.....despite me being invested. I have and always will try and tell it how I see it even if it goes against my best interest. All you can do is carry on with your cheap pops. You're a desperate fool like the rest of your cronies. JP is a joke. He had his chance to be a hero but he has failed. He has 2 penalty shots left.....3 if you include Sidi. He's fast becoming the Chris Waddle of the Oil and Gas world. As for BM.....what an absolute useless so and so he is. He should hang up his boots and retire.

Fellrunner,

You were given plenty of warning from my brother and me yet you decided to be rude to us. You can check my original messages about my predictions regarding Te-9 and now you and others will acknowledge why I said what I said. Ironically, I believe Te-10 will be a success. I had major reservations about Te-9 working due t porosity issues and I was indeed 100% correct. There can't possibly be 4 dusters in a row.

Redeem yourself and apologise to us both.

And there we have it. So my brother, Simonthezealot and indeed myself were right. What a bloody joke. Absolute shambles and exactly to the word of what I predicted weeks and weeks ago and all I got again was abuse for my intuition. I'm actually invested here and gave little hope for Te-9. Bunch of amateurs and as my brother said, BM remains as the 'King of Dusters'. Many of you have been suckered-in by JP's hype. Squeaky bums have just been soiled. Where's our apology?????? Now you know what I recommended that JP should have sold the company on seismics alone and did not stick the rusty drill bit into the ground and all I got was abuse from you all. It never rains, it pours. Rubbish. May as well put your life savings on a horse down your local bookies.

What still baffles me is why Eric was paid a year's salary on exiting the company when he was purported to resign. When somebody resigns from a company usually they are not entitled to a severance pay. Maybe that recent video was pulled for a very simple reason - the reason that Piers "Pies" Pottinger said that Eric had been thinking about leaving for a few months and that the timing was right for him to leave. You don't pay somebody a ridiculous amount of money if they choose to leave a company on their own will and furthermore without shareholder's prior approval and on top of this, given that the company was short of cash. Crazy decision and that decision alone needs to be looked into - the reason why Eric the man with the painted face, was paid that money, If they can recover that money from him and put it on ice until the investigations have been concluded, that would sit easier with me.

They dare think about delisting. Not after what we have been subjected to. They need to do the honorable thing and that is to sell the company and we get asked to vote on what the offer price per share is. No more pain please. It's time to end this misery for shareholders.

Great post, Invest...…..

Love your last paragraph. I agree. There seems on the face of it little point for MYSQ to continue on its current course of borrowing money and potential further share price dilution when the simplest option as far as I'm concerned is to look at a simple sale. Get the books back into some sense of order and clarity and then sell the company as a going concern to Tencent. We will then be made an offer per share by way of a RNS and asked to vote on the offer price. If passed and accepted then we get a one-off special dividend paid into our accounts. Simples. Why complicate things? My message is this: tidy-up the accounts, then sell to the highest bidder. Try and do this in the next few weeks if at all possible and before we need a NOMAD. Or don't we need a NOMAD in place if we choose the sale of the company option? I'm still confused about this scenario.