Member Info for JezTheFez

Looks like N4aPound has longer to sit it out in the M&S car-park in Sevenoaks. Just as it was looking like it was time to dismantle the drone, pack away the Bresser binoculars, drink the last sips of instant coffee from his flask, spray the remaining amount of de-icer on his windscreen and head back to his rented bedsit. I hope Parsons has a really rubbishy Christmas. What a prize plonker.

Very disappointed with Parsons et al. If this is the best deal then I'd hate to see what the worst deal was. Trellis will have to change his wine order and purchase Blue Nun. If anybody needs directions to that rogue park bench I alluded to in recent months then let me know. How many marriage break-ups, suicides and divorces is this going to cause? We have been duped. I can't stomach any more waiting around and yet we have been subjected to what looks like 1-2 more years of spam and wine anecdotes. Wish I had never topped-up the other day now and stuck with my original feeling, which was that we'd "go long". I was trying to be hopeful and yet again it has come to bite me on the butt. Very disappointed today. The BOD ought to resign and never do another job going forward. Utterly useless bunch of you know what.

People are topping-up at these low levels and locking-in their investments to see what happens over the next 1-2 years.

At least they will be well insulated if he wins.

I'd never vote for Labour or that horrible man JC. Even if it meant going without any bread. The idea of a shorter working week does sound appealing though, but then again, I have already retired so it means nothing to me.

Trellis,
I don't know what I'm more disappointed with. Us going long, or not being able to explore the dark corners of your wine cellar for the rancid red wine vinegar. I had a feeling we'd get a RNS this week letting us know what the situation is. I suppose this is the best of both worlds. We get to monetise some of our asset and we get the opportunity to do some more exploration drilling. Was hoping that we'd get an early LE before Christmas, but looks like we will have to wait some more. I wonder if the UK private company is C4E? Wouldn't surprise me. Surprised that we weren't bought by one of the super majors. Bizarre, but there we have it. Ho hum, looks like the Chuckles will have to stay above the chippy and continue chowing down on spam for the foreseeable future.

Prudent - and that figure is before any further exploration upside. Just think that people should take a deep breath, re-read the RNS and try and fully understand what the deal means.

Malcy's calculations:

"Looking at the transaction metrics this is a read across 19p deal on an enterprise value basis… split roughly 4p upfront cash, 4p of carry with the P50 value of the remaining 23.3%, according to the brokers, valued at circa NPV 10 of 11.3p which gives a total read through of around 19.3p from which you would have to deduct the around 2p of debt to get to a read through equity price of above 17p. Furthermore this figure is before any exploration upside which is substantial given the huge basin potential and the near term drill ready prospects, which presumably are one of the main upside attractions for the prospective buyers. This looks like an interesting result for Sound shareholders, who whilst disappointed with some of the recent drilling results now get early monetisation of the Eastern Morocco portfolio, a line to funded first gas as well as possible substantial exploration upside. This is validated by the substantial interest in the assets for sale and the huge size and range of those expressing an interest."

Testpack,
You'll have to verify what was said / implied by JP with Crude. I seem to recall him saying something along these lines though. Mind you, James has always been a bit bewildered about the share price when it has been on the decline. Never on the incline.
I would say however, that it is a buying signal IMHO. Hence why I was happy to top up sub 7p.

Look, I'm going now. I bid you all a good evening and tomorrow is a new day.

#maythefezbewithyou

JTF

Enagas have already agreed to lend us the money from what I know. "Plan 'B'" has already been discussed and thought through and there are a number of scenarios that could enfold should we not sell our EM assets at this stage in time due to no bids, or no credible bids coming our way. I think there will be a buyer for our EM assets and we will fund out very soon. Things could change for the better very quickly here now. Keep your eyes and ears peeled.

Jordan,
In the words of JJ, it would cost approximately 230 million dollars to finance the next stage of development, should we be forced to "go long." That finance package is available to us should we need it. Talk of "going bust" is a waste of time. It won't happen.

I'm heading off now. Have a good evening and we'll see what the remainder of this week brings. Chins up. That's all I am saying. We're still in the game here. Nothing has changed. Until we get confirmation of what the situation is via a RNS then just try and keep open minded and hopeful. After all, deal making is in James's DNA. GLA.

Thanks for the advice, N4aquid, but I will stick to my own strategy and that is to ensure that I am fully loaded for the LE. Mission complete. Just a waiting game now. I could pile yet more money at this, but I will never gamble with more than I can afford to lose again. Not after the debacle at MYSQ earlier this year where I was taught a very nasty lesson. Greed took over and it cost me a new car.

Uh duh...an MOU was recently signed and RNS'd and yet everybody brushed it off and ignored it. Even Crude said how excited and happy the BOD were at HQ when he went to see them. Meanwhile, people were moaning and groaning because their average share prices are still higher than the current share price. Back in the day, people would have been ramping the hell out of this share on that news alone. I think some of us have forgotten what we have and its potential worth. Yes, I still maintain that what we have is worth nearer to £1 than it is 50p and I have already said you can mock me all you like if I am proved wrong. Don't try and link the current share price with what our potential worth is because IMHO you will come unstuck. Even JP himself told Crude that he was still surprised by the disparity that exists between the share price and the value of our assets. I think we're days away from getting the RNS we have been waiting for. In fact, it would be very apt if a RNS landed out-of-hours this Friday. That would give us all something to mull over and may even put a few smiles back onto some otherwise glum looking faces. Come on everybody! Lighten-up! Where's my 'Head Of Positivity' when I need him? Crude/ Kirk....come out of your hiding place and earn your salary. I will let you have first bite of my fritter if you do.

N4aquidortwo....
I reckon you should jump start that Austin Metro of yours and head back home to the relative warmth of your bedsit. Pot kettle! Your negativity has become palpable. I can almost chew on it. Until we get the news then nobody has messed-up. If you have a high average share price then you should have done what I did and averaged down on the dips. I've topped up around 5 times this year and that's me now done.

I have tried to inject some positivity on this bb these past few days but in the most part, everything I have said has fallen upon deaf ears. There is still a chance here we will get a deal and until we hear otherwise, all we can do is keep the faith. I realise that Parsons isn't everybody's favourite person right now, but he hasn't yet failed on getting us a deal. Judge him by his results and not on this radio silence. I know it has been frustrating but we don't have long to wait until we learn our fate and I still reckon we will be relatively happy with the outcome. Even the miserable ones on this bb may force a smile, but I doubt it. If topping up is good enough for the Chuckles then it is good enough for you too. WE could be days away from receiving the RNS that we have been waiting for all these years. Don't spoil your chances of making some decent money here by getting suckered-in by all this negativity, even from the most trusted disciples. Get your averages lower and your share count up is what I say and don't moan if you miss out because I have already warned you what will happen when good news lands. You will be the one wrestling to buy-in again....at a much higher share price too. Oh the irony!

And I was asking Exploration for his opinion and not you. If I need anything rom you then I'll fart in your general direction. Jarrovian listened to my advice last week and has since gone on to make some decent money over at EUA. He should have cashed in his profit by now though as I have done.

Jordan,
There is nothing more ghastly than a trapped bull and that is a trapped bear. If you feel that way about this share then sell up and put yourself out of your obvious misery. It's funny how people on here sulk and attack others based on their share price average. I think you underestimate our position. What we have is valuable to the right buyer and for what it's worth, I believe we have had interest from more than one company. I think we'll be just fine.
Jizzy

Exploration,
You are one of the more knowledgeable ones on this bb. Do you believe we have a chance at getting a deal done by year end and for a decent enough price per share?
JTF