Member Info for JezTheFez

No, I have said nothing about the NOMAD and Rothchild's. And the location for Te-11 has already been selected, so Brian has already placed his stick in the ground, so to speak. Hence why I am not purporting there to be any conspiracy theory and besides, Rothchild's wouldn't allow for that to happen anyway. The deadline date is obviously ahead of us still and until that date, whenever it is (probably December 31st, 2019), has passed, will we all know what the situation is. You're right when you say that JP won't be rushed and nor should the process be rushed. We all want a deal and the best one going too, but I think we will be forced to find more gas first before we get a decent offer price coming our way.

Sooty?
Shall we have a SWEEP stake as to what we think the share price could rise to next week?!

20p+ next week all being well.

Get your shares while you can. Major news coming this way very, very soon!

There can only be one Trellis and he is definitely not a bore. I look forward to meeting him at his 'Liquid Event'.

"JTF your sentiment really interests me, because in the vacuum of information you have decided its bad news. Whereas the vacuum of news was entirely expected when this process started and was conducted in the way it has been."

I'm glad that my sentiment interests you, Seaton. I am not one of those ones who is spouting a conspiracy story though. I'm merely stating that my belief is that we will receive no credible offer. I have given my reasons (the evidence as far as I see it) in my post earlier this morning, as to why I believe we will be forced to "go long."

Others believe we will get a deal, which is fine. There is no right or wrong answer at this stage in time. I still think Parsons should give us a quick update without saying anything that would contravene any AIM rules, even if it was something along the lines of, 'the marketing process is ongoing and we will aim to update the market before the end of the year'. That has to be better than saying nothing at all. However, as Ronan Keating once said, "you say it best.....when you say nothing at all."

https://www.youtube.com/watch?v=IobNcpiwpSc

JTF

Trellis has fallen silent these past few days. I was rather hoping he'd have some more of his funny wine anecdotes to share with us. I suspect somewhere in some corner of Norfolk, he's sipping on Sauvignon Blanc. Second bottle almost drunk by now.

Seaton- I don't see any harm in Parsons giving us a quick update or some sort of reassurance that things are moving in the right direction, but I suspect he's got his hands tied and can't say much.....unless you decide to email him of course.....and then he'll tell you all you want to hear!! Hehe...

And I also don't buy in to the thought that we are worth more than the current share price. The share price is where it is for a reason and that is due to a lack of confidence, a lack of clarity and plenty of uncertainty about where the future lies. Sentiment, whether it be good or bad usually takes centre stage and can either make or break a share.....as he says looking at another failed investment in Mobile Streams. Yet more money down the drain.

Seaton - agree with a lot of what you said in your comment apart from the bit about there being a deal. I don't believe a deal will be done and that we will "go long." Once you remove the past hype out of your mind and see this company for what it is and how it is being run, you will quickly see that it's one big circus show. If I get my money back then I will be grateful, but I have kind of already written it off. As DDBOY said yesterday, usually silence is a bad thing and a harbinger of doom. The same happened at MYSQ and the silence there reminds me of the silence here. A silent, uncommunicative AIM company is cause for concern most of the time.

StMary - and all along, she thought you were just taking the dog for another walk and instead you were busily topping-up using your iPhone.

I wouldn't top-up at this stage in time despite having entertained the thought a few times. It's just too risky should we go long, which as you know is what I believe will happen with no credible deal transpiring. Going long will almost certainly see the share price head further southwards and for me, there are too many clues / signs that this "pause" has bought them the time they have needed to put their plan into place to "go long."

The finance package available via Enigas, which was there on JJ's desk ready to run with (referenced in the video with Malcy);
The fact that a drill location has now been selected for Te-11;
The fact that Parsons is moving towards a Heads Of Agreement Document (Gas Sales Agreement) to be signed some time in the near future all being well;
The comment by Parsons to Crudenohope stating something along the lines of if no credible offer comes our way then we will carry on drilling with our partners, Schlumberger and raise some more money;
The likely scenario that Parsons wants out, but is probably being kept on for a while longer to get the aforementioned GSA signed-off before departing. I can't see him staying on for much longer beyond this despite saying that he will stay until a deal is done i.e. the LE. He has gone back on his word before, so I wouldn't be at all surprised if he tenders his resignation soon, or the Board release him with a handsome severance payment and somebody like JJ takes the helm.

There don't appear to be many signs that a deal will be done other than a few off-the-cuff comments from the likes of BM. The "more than 10 companies have expressed an interest..." and the "this will be done before the end of October" comment. The continued silence, some would argue, is also a potential good sign because if the deadline had passed and there was no deal, then that would have been RNS'd by now. As you know, I am seeing the continued silence as a negative thing because I believe Parsons was ideally looking to depart in July/August but because no deal has yet emerged, the Board has decided to keep him on a while longer to see if a deal can be forged, probably before the end of the year.

I reckon they were hoping that a company would have come forward very quickly and made them an offer they couldn't refuse, but that doesn't appear to have happened as of yet and hence the continued radio silence. I think this silence will drag-on for some time yet and then the inevitable RNS will land, which I have already alluded to in past posts and won't do it again for sake of repeating myself.

I don't believe or trust anything this BOD says or does anymore and that is not my fault. That is their fault and they now need to win back the trust and respect of their PI's and probably anybody else who has money invested in this circus show.

Jizzy

Hahaha Eric. I'm heading out soon, so no more messages from me for the time being. I am furious with the way this is all panning-out OK? I am not a happy bunny one bit. This was supposed to be our year. I am bored and fed-up with this radio silence and it looks like it will continue for some time yet. And what is perhaps more frustrating for me, is that Parsons just won't come out of his hiding place and reassure us, communicate anything to us, yet feels compelled to answer "sensible" questions via email. That in itself is somewhat contradictory, surely? He appears silent, but at the same time is more than happy to break his silence via email. Where are the tweets? Where are the cosy fireside chats? Where are the RNS's? We appear to be relying on a few rogue email replies to get any clue as to what the current situation is, which is rather unprofessional and non inclusive if you ask my opinion. I continue to guff more gas than SOU can find on a daily basis and the chance of success for this guffing to continue is 100%. Trellis will I suspect be joining us soon with some more of his wine anecdotes. Don't say we don't spoil you all with our good humour.

And the stage of this process you allude to is that as of yet, it seems we have not received a credible deal. Hence why there was a RNS only recently whereby the Board approved Parsons' extended stay at SOU. He was supposed to have done the deal in July / August as per my original timescale prediction, but as it turns out, no credible deal came to light and he is now being kept on in order to allow for more time to attempt to get a deal. As to whether or not he manages to get a deal is to be seen. I personally believe this will drag-on for some time yet and then the inevitable RNS will be released explaining that we haven't received a credible deal for our Eastern Moroccan Assets and that groundworks will now be made for Te-11 and the Saipem rig remobilised and transported to its drill site location, which will be in Annuel (formally known as Meridja). Coupled with this and most probably in the very same RNS will be reference to an equity raise to cover any contingency costs that Te-11 may incur and for ongoing operational costs e,g, wages. This company has now become quite predictable in their strategy and that is why I am writing all of this now, so that people can look back through my messages when it all materialises and see that yet again, I was right. Don't be blinkered. You know it's coming and it's just a case of when that RNS will land. They are bricking it at Sevenoaks because they know what effect it will have on their reputations and indeed the share price.

And what was cute to see on this bb yesterday was a new bromance forming between EricHorseman and Jobbinscl. It was sweet and touching, guys. Get a room.

Trellis? Where are you? You still around?

Is there anybody out there who reckons Parsons will receive a credible deal that he will present to us? I'd like to know who genuinely thinks this excuse of a CEO can actually do something right by us and this company? Up until now, it's all been conjecture and hype and counting chickens before they have hatched.

You lot complain when the likes of me, Trellis, STZ are on the board talking about chip shops and spam, but after having trawled through yesterday's messages, they were even more boring and imbecilic than the ones we pen. At least we try and add a little bit of humour on this otherwise dull and depressing bb, but I realise our good humour is lost on some of you.

Keeptofacts? I'm really pleased for you that you have used this down time to top up and increase your holding. Good luck with that one, mate. When that dreaded RNS lands stating that we're "going long", I'll remind you why you shouldn't have bothered. We could yet see 2p to 2.5p just in time for Christmas should there be a "no deal Souxit."

The radio silence continues and it will probably do so for some time yet. Week after week goes by and even his most trusted disciples are falling by the wayside and developing all sorts of ailments. You can put a price on this share, but not on your health, so try and look after yourselves in the interim.

He's not even coming out to defend himself and nor will he attempt to calm the troops. He really doesn't care much for us. That's the way this radio silence is turning out to be - just another excuse for the BOD to burrow their noses deep into the trough before they inevitably reach for the back door and skip verily into their next failed venture. There's no way he'll get much support for his C4E venture if he continues to treat we PI's like this. It demonstrates a complete and utter lack of contempt for us if you ask me. We have had to survive on a few rogue email replies to a few investors' emails and even then, their responses have been ill thought through, off-the-cuff and apathetic in their nature.

No, I remain very unimpressed with Parsons and SOU and hence why he will never get the pleasure of shaking my hand again. He has lost my trust and he will never get it back. I'd love it if he were to prove me wrong, but somehow I don't think that will happen. I've basically got his ticket.

Jizzy

Why do people come on here and ask others to sell their holding? No, as mentioned on several occasions and at least once today, I am staying here until the bitter end come what may. I've come this far and I am prepared to sit it out and will see what happens. If I lose all of my money then so be it. It will be just another gamble that didn't deliver. Add it to the long list of other failed AIM investments that I have endured since getting back into shares 5-or-so years ago. I wish I hadn't bothered but it's high risk, high reward and we can only try and better our lifestyles and give ourselves a chance of success. I always have the chip shop roof over my head and a plate of spam, so can't complain. That makes me a rich man.

What's perhaps more disturbing, is that Parsons isn't coming out and defending himself. He remains in his bunker for now but there will come a time soon when he has to face his fears and speak to us. For a man who makes no apologies for liking to win and winning, he doesn't appear to show any signs of this so called winning streak at present. It's time he comes out of his hiding place and speaks with us. It's OK, we don't bite. We bark a bit, but we don't bite! Grrrrrrrrrr!!

Garyoso,
You're one of those rare breeds of people who still infest this board. You should perhaps be called 'The Last Disciple' because you allow your judgement to be clouded by the past hype that festooned this share. It was good whilst it lasted but I fear Parsons is fast running out of time. I'd like to see you attempt to "throw me". I'm 18 stone solid spam and I only move when there's a rogue fritter on offer. I've said what I have said and it is my opinion. I am allowed to have my opinion and you yours. When the call comes that we're "going long" then you will be one of the first people that I ask for an apology. Parsons hasn't fooled me, but clearly you appear to be somewhat jaded with your judgement. He has had enough time to get this circus on the road and as the weeks tick by, it is looking more and more likely that there will be no recommendable deal presented to us. I'd love it if he were to prove me wrong, as I commented the other day, by I believe he won't and he probably knows it. This is fast becoming another Brexit scenario with delay after delay.

Yeah, there's no right or wrong answer at this stage in time. It's all down to personal opinion. For me, the signs are showing that we will probably have to "go long". It appears that there are too many plans that have already been made in the background that point to us going long and as of yet, very little to go by for there being a sale of the Eastern Moroccan assets / company before year end.

Maldini,

The marketing process as far as we're aware could expire December 31st 2019. That could mean we may not get news until January 2020. The RNS's point towards a decision being made prior to the end of this year, all being well, but when have SOU ever kept to their timescales?! They'll do what best suits them and if it means that we PI's are left in the dark for several more weeks, then so be it. Hence my frustration and lack of respect for the BOD having to make us all go through this rigmarole without an official news update. Parsons never said the build-up to the LE was going to be so miserable when he stood in front of us and spouted his, "many, many multiples" and "31 TCF's". The only hot air in the room as it turned out was him and his wild fantasies of multi-TCF discoveries. Talk about counting your chickens before they have hatched. And Brian is still standing in some imaginary room somewhere with "at least 6TCF under his belt". Ain't that cute? Again the only hot air under his belt is the giant fart he guffed when he had to tell JP about the Te-9 and Te-10 results.

If you ask me what I think is going on behind closed door, then I think they are busily making plans to "go long". They are attempting to get that Heads Of Agreement document signed-off before the New Year, they have already chosen a drill site for Te-11 and they already have access to a finance package via Enigas to develop the Te-5 Horst. JP has even commented to Crudenohope that should their be no credible bid, then they will continue drilling with their partners Schlumberger and raise some money. Yes.....raise some money. You don't say?!? That was concluded with the phrase, "I suppose", which we have already debated. That comment was also erased off LSE if you want to check Crudenohope's past messages. Too close to the truth, was it? I suspect so.

Be careful what you wish for here. I don't believe a word the BOD says anymore and there used to be a time when I trusted JP. Not anymore I'm afraid and like most of us, I am trapped with an average way above the current share price so am just going to have to sit it out and wait to see what happens. I think we'll be here for another couple of years though as they crawl towards "First Gas" in 2021. It may even turn out to be their best strategy ironically because should they find the motherlode at Te-11 or anywhere else for that matter, then we'll all be back in the driving seat again. However, that said, I have no appetite to hang around watching this circus show for another 2 years and I suspect nor are OGIF / ONHYM, The MG, the II's and the partners. Oh...and I haven't even mentioned Sidi. That's a swear word these days and coincidentally is a four letter word. How convenient is that?! Nuff said....

JTF