Member Info for JezTheFez

The silence from Chong is palpable. Surely he has something to update us with after all these months of waiting? I'm still feeling very sore about losing my 6 grand.

Crude,

Thanks for your reply earlier today. I've been out and about in the Chuckle Wagon increasing our company's carbon footprint. Chuckle Energy is not the greenest of companies with all that latent methane kicking around.

Sorry to hear you got bitten by a spider. Does this mean you'll be turning into Spider-Man soon? You'll be swinging from the chandeliers come the LE Party hopefully, but no upside down kisses please!

I'm still trying to get the image of Trellis drowning in a vat of wine out of my head. What a way to go eh? The perfect way for Trellis to meet his creator.

JP's reply to you was interesting to say the least and it has given us something to mull over in the interim. He shouldn't go anywhere until whatever deal is done, so I'm happy to see that that is the case. Let's just hope that deal making is still very much in his DNA.

JTF

Exploration appears wise on every bb he frequents. I recall bumping into him on the Cluff Natural board a while back. His wise words seemed to fall upon deaf ears over there as nearly all of them lost their money.

Exploration - hence my comment pertaining to a company that has "more time" and "deeper pockets."
It's difficult to arrive at a definitive conclusion of what gas lurks beneath until more drilling and analysis is conducted. With an area the size of Belgium, there has to be some more "sweet spots" somewhere. For example, Brian and his Team have already identified at least 5 new potential drill sites around the Te-5 Horst area. I would be surprised if there weren't some more in Anouel too (excuse my spelling).

We're an exploration company at the end of the day. Our strategy was to never go into production. It was to prove-up as much gas / oil as we could find and then to sell the assets / company to the highest bidders(s). A fairly simple, easy-to-understand strategy on the face of it, but unfortunately for us, we didn't manage to discover as much gas as we were hoping. Don't get me wrong, what we have is still IMHO valuable to the right type of buyer (one with deep pockets, multiple rigs and time on their hands), so all we can do is pray and hope that we will witness a decent enough conclusion for "all stakeholders."

Crudehope?

Crude has fallen silent these past couple of weeks. I'd be interested to hear his take on all of this and what he thinks our chances are of a decent LE.

Kirk? I know and appreciate you have a gammy leg at the moment, but you still feeling positive about our chances? Is the tail still wagging?

Jizzy

Jacklevi - this "pause" that we are all enduring at the moment has been incredibly boring and frustrating and it could continue for a while yet if SOU's past deadline dates are anything to go by. I am hoping that it is sooner rather than later so that we can learn what the situation is.

Trellis has his trusty wine to keep him company in the interim. Partridge has his pear tree, I have my spam fritters to flip and StMary has his dog to walk. Just glad that some of us have extra curricular activities to while away the time. I suspect Parsons is playing table football with Mitchener down at Sevenoaks HQ now. This afternoon they'll be having a paper airplane competition. Mitchener would have done a fancy PP presentation explaining the technicalities surrounding perfect aerodynamics.

Jizzy

Jobbs - you could be right about CP's, but I'd much rather see a clean and seamless sale of the asset / company. I don't think it will happen though.

I'm not sure. I think we'll be forced to go long because the bid(s) we will receive will be too low in the eyes of JP. I'm expecting an RNS along the lines of, 'at this stage in time we have been unable to secure a suitable offer / bid for our Eastern Moroccan assets and are therefore making plans to remobilise the Saipem rig and transport it to our third and final well in our three well exploration program, Te-11. '

I'm now feeling like Jacklevi is. I'm not really fussed what our eventual outcome is due to boredom, frustration and distrust for our BOD. They certainly know how to dampen spirits. I'll give them that.

JTF

I thought ducks had bills?
Parsons has plenty of those tucked away.

Indeed. He died of obesity. Hollywood got it wrong.

No, I'm Spartacus.....or should that be Spamtacus?!

Drule,
In short mate, I can't see us getting a credible bid and thus we will have to forge ahead with Te-11. I'd still make a handsome profit at 50p but I don't think JP would accept an offer for 50p. I still think that is a low ball offer. And there are those that have averages way higher than 50p who will probably vote 'no' to an offer lower than their average. As my brother mentioned last week, there will be a division with some voting 'yes' and others voting 'no' purely based on what their average share price is. That is assuming we get an offer in the first place! I do believe we will receive at least one offer, but I have my doubts as to whether it will be high enough to "satisfy all stakeholders." If it is, then IMHO expect at least £1 per share come LE and if it is an offer which in the eyes of JP is too low and not worth presenting to us, then expect to go long.
The deadline date can't be too far away and so we'll all know where we are soo enough.

My £1 per share comes from JP's comment a while back about there being a deal that will satisfy all stakeholders. They have access to the share register and so I suspect they'll know what price people and II's paid for their shares. I still believe the day-to-day share price has little bearing on what the eventual price per share could be come LE.

However, I am feeling disenchanted by our chances of receiving a credible offer and thus my feeling is that we will forge ahead with plans for Te-11. The LE is and always has been a lure to keep us all sticky to the share and in reality, I think JP has positioned himself between a rock and a hard place. My trust in him is at an all time low and I don't hold much hope for the others in his pack either.

They have already chosen a location for Te-11 and then there is also a finance package with Enigas on JJ's desk for the Te-5 Horst development. I'd say that with these two points, the chance of a successful LE at this juncture in time is looking very slim. I hope I am wrong, but I can't see us receiving a bid that JP will want to entertain us with at this particular juncture in time. I think we'll be forced to go long, which is extremely unamusing. There can't be that many of us out there who want this fun and games to continue for much longer.

JTF

At least £1 per share come LE, whenever and if ever the LE happens.
No credible bid at this stage in time then we are forced to forge ahead with Te-11, which I suspect will be the case. The BOD will drag this one on for as long as they can so long as they have their noses in the trough. I no longer trust any of them.
And just for the record, Belgium is full of beer and chocolate. Hardly a good comparison with SOU that is full of something else that doesn't leave much to one's imagination.
Still, at least I enjoyed some Spanish Grenache wine in the sun yesterday, so it's not all bad news.

Jimmybob,

Why do you think I live above a chip shop with my flatulating twin brother? It's because the only way from our current situation is up. Trust me, it's a great springboard for what will hopefully be a decent enough LE. If it never comes then I have contemplated buying a van and sleeping in that. I could do with replacing the Chuckle Wagon anyway, so it would be like killing two birds with one stone. On the subject of killing birds with stones......Partridge? Where have you flown off to tonight? I suspect you're perched in your pear tree being kept awake by the noise of Shaungreen counting up to 250 then back to zero again. Suddenly life above the chippy doesn't seem all that bad.

Jizzy

Shaun has returned! The master mathematician is back, hopefully with a more realistic LE share price prediction.

Seaton? You must be a Devonian with a name like that? If I had still been looking after Norfolk and Suffolk libraries then I would have joined Trellis et al. The Chuckles look forward to the Trellis Towers Liquid Event though and hope it takes place sooner rather than later as the dingy sets sail for Spain early next year. I'm worried that your Wine Merchants will go out of business, Richard. I'm just lucky that the price of spam remains fairly constant these days.

Raredragon? You've been very brave, so we all commend you. And I have learnt a new word today too in 'obstreperous'.

Jizzy

Wh0s...
I think we'll be OK with regards to the data that has been presented and given to the 10 plus prospective buyers. If it wasn't good enough then it is likely BM wouldn't have mentioned what he did in his email reply to an investor. We can only go on what has been shared and it sounds as though the presentations went well and were well received. Brian might not have had luck finding commercial gas, but he is good at explaining / presenting technical details from what I have seen.

Whosthebaddy,
According to Brian, the seismic details / analysis carried out by our Team has been very well received by the prospective buyers and was very well presented - so much so that it is purported to have made their due diligence and private discussions relatively easy.