Member Info for JezTheFez

There seems to be something brewing in the background, involving Sound, Sound Newco, NUOG and C4 Energy that I guess will all become clear in time. Assets being sold, bought or absorbed into a newly formed company. It's like a giant jigsaw puzzle with all of the component parts being neatly placed together. I suspect Parsons et al know what the plan is and have been keeping things close to their chests for some time. It wouldn't surprise me if the delay we hare experiencing here at SOU has something to do with what is afoot at NUOG and now C4 Energy. You watch things play out at NUOG over the next few weeks. There will be a RNS stating that Parsons is the new CEO and Chairman there or the CFO. With Jay B and Andrew Denning also involved as share holders, it appears they are putting together a fairly decent enough BOD. People who don't know Jay B should look at Aminex. I am also invested there.

Crude?
Do you think it is possible that Sidi could be purchased by C4 Energy, or that they could be the farm-in partner, should it be moved into SOU Newco? Somebody mentioned on here yesterday that it would be a benefit to the SOU BOD should the whole of SOU be sold-off in terms of corporation tax. Could it be that we have a buyer for our Eastern Moroccan assets (probably one of the big boys) and that our Western Moroccan assets will be purchased by C4 Energy? The debt of circa £30 million, which currently sits against Sidi, will IMO be paid-off out of the proceeds derived from the sale of the Eastern Moroccan assets, so that C4 don't have to inherit any debt that comes with purchasing Sidi. I suppose the question is, how much is Sidi worth?

Thanks for your observations, Crude. This share has been a rollercoaster ride over the past few years, both emotionally and share price wise. I don't think we have long to wait until we learn our fate. Now that the nest is beginning to be feathered over at NUOG....soon to be C4 Energy's new shell company, things will start to reveal themselves here at SOU. The timing is not a coincidence IMHO. GLA.

Trellis,
I'm no expert when it comes to discussing the pros and cons of our seismic, but now the team have had the luxury of time to further analyse it, it does appear that they have discovered some more potential drill sites. This has been clearly stated by SOU. Likewise, the companies that have been sent a data pack have been impressed with the information, which BM said will aid with their own in house analyses and decision making.

The seismic can't be all that bad. Not when they are forever discovering new potential drill locations / sites from it - especially around the Te-5 Horst area.

Trellis is pure entertainment. Keep 'em coming, Richard. Some of us appreciate your wine anecdotes.

Not entirely true, Partridge. Saleem Kadir has just posted a message on the NUOG bb. LTI's here at SOU will all know Saleem. He has suggested what I did a couple of days ago. That NUOG will become the vehicle for Parsons' next venture and that it will have a name change and a share consolidation as part of the swap over. The name change will go from NUOG to C4 Energy. People piling-in now are clearly making some good money out of it. Alas, not me though as I don't allow myself to make any decent money these days. I only ever seem to make a loss!

Very seasonal, Jing. A gold star for you for mentioning the 's' word.
Jobbs? Your comments make me chuckle, even if they are below the belt. You may be interested to know that for the past few hours, I have been attempting to prolong my sorry life at the gym. Unfortunately, that means you may have to endure my messages for a while longer. I apologise in advance for my longevity, which will lessen once I meet Trellis and his wine cellar. Hic! Hic!

Jobbs - you are like a soggy spam fritter. Disappointing.

Jizzy

JP needs what has now become pretty much a shell company in NUOG to launch his next venture, C4. I think you could be right about what happens to Sidi, Seaton. It may be an asset that forms part of the new vehicle next year. Any remaining assets that SOU has left i.e. Sidi will be purchased by C4 and they will use NUOG as the platform to hop onto AIM via a reverse takeover. Unfortunately, the current NUOG shareholders will be shafted, but let's face it, most of them have lost their money already or have written it off. If we do manage to get a deal for our Eastern Moroccan assets, which I still don't believe will happen, then it probably won't be a straightforward one and I suspect will involve future payments to PI's, which isn't going to be very well received.....but that's where we find ourselves right now IMO.

Perhaps KTF should change his pseud' to, 'KeepToFiction' because with the nonsense he is spouting today, I think the new name would suit him well. You're in Lalaland, KTF. Don't believe anything that comes out of SOU these days until it is RNS'd. That's my advice to you. It seems that more effort is being "guided" towards C4 than SOU at present. Nests are already being feathered and they haven't even sought a listing on AIM as of yet. Maybe they plan to use NUOG as the vehicle for Sound Part 4? A reverse takeover perhaps? They need a distressed company that is already listed on AIM with distressed assets to use as a launch platform for their own master plan. Remember how Echo was born, anybody? Nuff said.

Maldini - there won't be a credible deal that comes out of SOU any time soon, I'm afraid to say. Parsons must by now realise that it is looking unlikely that they will get a decent offer after what has been 4+ months of silence. We are in the most part, being strung along as they continue to line their pockets. I'm expecting a rubbishy RNS and nothing more. This company died off a very long time ago.

Looks like Trellis is going to end up in a pool of his own urine by the end of the day. You've definitely disturbed the wasp's nest in the Ellis household today, KTF. I'm glad to report that there will be no "nasty puddles" in the Chuckle household any time soon.

Jones? If you're extra polite, I may just share my Christmas Turkey Spam Recipe with you, once Seaton has perused it. Don't say I don't care. With the 'Twelve Days of Christmas' fast approaching, I have my eyes firmly on a Partridge. The one that comes out from his pear tree now and again on this bb. Let the pantomime season commence.

Seaton,
When you write to Santa this year, please make sure you ask him for a Liquidity Event. That will save the rest of us from requesting it also. I am worried about his "transaction of some sort". That to me is a fall back plan should negotiations fail or not go as well as at first anticipated. Either we get a credible deal or we don't. Contingency payments are not for me.

And that's why you shouldn't take their "by year end" comment too seriously. In this, his most recent quote, he makes reference to the process being "aren't entirely within our control." My point exactly! So why has he been saying "by year end" for months and months and now he has changed his stance to adding "aren't entirely within our control." All it really does at the end of the day, is mismanage expectations. Take it from me, that this so called "process" will drag-on into early 2020.

I'll turn into ps200306 or whatever his name is and regularly post my filter list on here for all to yawn at. No, I haven't filtered a single person on this bb because unlike some, I welcome the views of everybody even though I may not agree with some of them. It's good to hear all sides of the debate / argument IMO. And besides, if you filter me, you'll be missing out on a load of entertaining messages and spam recipes.

Now my messages have reappeared. Haha! You couldn't make it up.

I see all of my messages have been deleted. Surprise, surprise. Too close to the truth again I suppose. Pah! Don't believe what you read or hear these days. While there are noses in the money trough, don't disturb them during feeding time and boy are they feeding themselves well. Plumping for Christmas is an understatement. I don't believe a single word coming out of Sevenoaks these days.

Well it's over to Parsons now to wow us with a deal he feels is credible enough for us to run with. There's probably little else to say about things in the interim, because we have pretty much run out of things to say in the absence of any new news!
We are just regurgitating old news and reflecting on past RNS's, which is about as entertaining as a cold spam fritter on a dank Thursday morning. Yawn.

Perhaps they should resort to "guiding internally" rather than "externally" because nobody seems to have a clear and well communicated strategy to push us towards a successful LE, which I reiterate again IMHO is circa £1 per share. Anything that falls way short of this is a #failure.