Member Info for JezTheFez

Mike,
You'd think so given their salaries, but they are probably making plans to now go long. I can't see a LE happening any time soon now. I have to listen to my gut and despite probably receiving some bids, I don't think any of them are decent enough. The financing package via ENIGAS is something they have been working on though, which JJ has access to. I wake up every day now just dreading the RNS, which I believe will be them telling us that a deal hasn't been done and that they are now going to do more drilling. God help us all if that happens. I don't trust them with a drill at all.

I think the cut of date is July 31st but that is my opinion, WhosThe...…
Maybe you'd like to tell everybody when you think the cut-off date is, rather than throw a barrage of insults at me??
The SOU BOD are probably sat at Sevenoaks as I type this, twiddling their thumbs wondering what on earth to do. All they are doing is waiting for the deadline date to pass then they will hit us with the news that they haven't been able to secure a deal and that groundworks for Te-11 will commence blah de blah de blah. I don't trust any of them any more and I can smell a rat from a mile away too and this doesn't smell good. Despite my distrust for them all I'll reserve my final judgement on Parsons once the RNS lands, but gut instinct now says that we are going to have to go long. And to think they are going to continue paying themselves with overinflated wages is crazy. It's actually embarrassing that they are paying themselves any money at all. They have made our so called LE a miserable, frustrating and generally unenjoyable experience when it should be just the opposite. When it's time to deliver, can Parsons step-up to the plate and do us a deal that we'll be content with, or was it only ever hype? Time will tell, but this continued radio silence is very worrying indeed.

JTF

And another thing, Jobbs…..
I am a CEO of an energy company, Chuckle Energy. I happen to know what gas smells like living with SimonTheZealot. As I have often commented, if SOU needs to increase their gas, then we would be happy to fart in a load of glass bottles and deliver them in person to SOU HQ in the Chuckle Wagon. I really can't say fairer than that, can I?!

How's that for a brutal delivery eh Jobbs?

Jizzy

Jobbs,

You may find my delivery brutal but I like to think it's the truth. All this expertise you believe our Exploration Team has....could you give me one example of how they have used that to our overall success? I don't know about you, but I'm still wiping the dust from my eyes.

Maybe BM et al should have listened to some alternative ideas. For example, take my friend Omar Bouzalmat who offered his services to SOU for them to be rejected. Maybe they should listen to the views of others and then make a decision. I would have had more luck wandering around in the desert with Omar with a pair of divining rods and a wonky fez.

JTF

Somebody is confident of success. Good luck to whoever purchased that amount of shares.

Jobbs? My opinions are mine. You can have yours. You don't need to jump on another poster if you don't agree with a comment. If you're still looking to vent some anger then take yourself for a long walk or a run. You'll feel better for doing so.

JTF

Good post, Testpack3.

More and more people like you and me believe that an offer price of less than £1 per share would represent a failure. I continue to believe that despite my lack of confidence in our Exploration Team and my growing wariness for JP and JJ's next move.

Wanger,
You're right. Once upon a time, I had confidence that we'd have success at the drill bit, but alas no longer - not with our Exploration Team. My belief in general is that there is commercial gas in the Palaeozoic but I suspect it will be unlocked by one of the "big boys" and not us. I have no appetite for any further drilling with SOU at the helm. The beast that lies beneath IMO needs to be unlocked by somebody with deeper pockets than us and with more than one drill on location. I never understood why we only ever deployed one drill. I recall Malcy being surprised by this approach too. Yes, it costs more money and yes it requires a lot of resources to be chucked at it - both of which we don't have and so hence my feeling that Te-11 should it ever be drilled, should be done by another company and team. I also recommend that 3D seismic is run over the identified drill site, which was something that was repeatedly ignored by BM despite his explanation that you can really only tell what's down there by poking the drill bit in the ground. I'm sorry, but that's not entirely accurate and has never sat well with me. It was to save money....end of.

And those that believe an offer of 35p per share would (a) be accepted and; (b) presented to us is unrealistic. That price undervalues what we have in place and the potential of the asset(s) and JP would IMO never accept a low ball offer even despite the current ailing share price.

My belief is that we won't be made an offer that is high enough to be put to us in JP's eyes. The consequence of this is further dilution and for JJ to access the finance package via Enigas, which he alluded to in his recent interview with Malcy. Have another listen to the interview if you missed what he said about this. The decision may be made to not go for Te-11 and to opt for a re-entry or to go after one of the 5 newly identified drill locations in the Horst. The team may see this as a better use of money, as they switch from an exploration well to perhaps an appraisal well. We have had some success to date with our appraisal wells as somebody pointed out on here the other day and another duster may be the final straw.

My heart says that I'd love to see a LE happen and with a price per share of at least £1, but as this drags-on week after week with no news, my head is saying that we'll be forced to go long. Not great, but this is AIM and nothing ever impresses me about it these days.

Jizzy

IMO it is likely that the share will be sold in to all the way up to around the offer price, but probably not above it. Hence why I described it as a 'pump and dump' exercise for the lucky ones amongst us who managed to buy when the price was around 8p or lower or who have averages in single figures. They are the ones IMHO that will make money here. The rest of us will just have to wait and see if we manage to get any money back from this so called investment.

As long as Parsons acknowledges the fact that there are a lot of people invested here with averages closer to £1 than 10p. Any offer put to us needs to be both realistic and decent enough for the vote to get passed. I don't want this to drag on any longer than it needs to, mate. The thought of going long and having to endure more drill results doesn't sit easy with me. The Exploration Team here have already proved on more than one occasion that they can't find commercial gas. The offer of bottled farts from Chuckle Energy is still there should they require a few rogue BCF's to top-up their total.

KTF,
Something seems to be brewing, I agree. The share price is beginning to perk up as of late on anticipation of news landing in early August. The passing of time seems to be our only friend at the moment because there is a deadline to the deadline date....whenever that is!

Jacklevi,

I realise what you say is of course true. That's the horror story just about to unfold here on the sniff of news. That's why I'm worried. The share price is going to yo-yo like we've never seen it do before and that is saying something. The only caveat is that I suspect you need to be a holder of the shares at the time the vote is passed in order to qualify for the dividend. However, can somebody who knows what they are talking about enlighten us all? My knowledge with how dividend payments work is weak.

Lovely times isn't it? A bunch of short term holders who managed to get in when the share price was around 8p or lower, who are waiting to dump their stock onto the market as soon as any offer gets announced by way of RNS. It frustrates the hell out of me that our beloved LE is probably going to be a giant 'pump an dump' exercise for the lucky few that managed to get in when the price was low. Charming.....

This is looking more and more like they are going to be forced to go long. JJ has already mentioned that he has access to a financial package via Enigas in that Malcy video. Usually, what JJ says unfortunately always comes true, despite me cringing at most of what he says these days. JJ also said that he is excited by further exploration. Well I am glad somebody is feeling excited about the prospect of further drilling because I ain't.

I don't trust them any more if I'm being brutally honest with myself. I don't think we have had a decent enough offer for either the assets or the company. This share has a nasty habit of doing the complete opposite of what I want it to. Parsons has until early August to sort this mess out, or he loses the support of Chuckle Energy. He better be hoping that he manages to pull a rabbit out of his top hat because there's going to be a lot of very concerned investors if he doesn't. The lure of the LE is why most of us are still invested and if we don't have our LE this year then shame on them.

Partridge,

You are assuming that 35p will be accepted by people? Anybody who has a share price average higher than the offer price will probably vote no to it. They won't want to lose money and they won't necessarily want to see a bunch of short term holders make all of the money while they have spent several years suffering with a higher average and make nothing. That means, the offer price needs to best reflect the anticipated reaction to it, if that makes sense? Hence why I still maintain that anything less than £1 per share is a failure. The offer price ideally needs to be good enough to get passed through. The issue that I think the guys in Sevenoaks are having right now, is that they haven't yet received an offer that they believe is good enough to get passed through the vote. This said, Parsons has to let the deadline date expire before he can announce the news to the market that they haven't been able to secure a deal at this particular juncture in time and that groundworks will now commence for Te-11. That rusty Saipem rig will yet again be mobilised and transported over to Te-11 for what will be yet another heart wrenching drill.

I am hoping that the whole company gets sold and not just the Eastern Moroccan assets. Nobody really knows what value can be attributed to SM unless somebody out there has done the math? Our LE is fast looking as though it's going to be a race to sell your shares at what you believe the height to be, which is not what I wanted. I wanted a calm and controlled LE and not a frantic run for the fire exit. I know how emotionally charged this share is and most people I suspect will jump ship as soon as the share price rises above their share price average. What a romantic end to what has been 5 years of rollercoaster rides and headaches.

Partridge,
Isn't it time you fly back and hide in your pear tree? I have my thoughts and you have yours. It's clear to me that this share is going to be played big time on news of an offer and if you can't see that, then you're a blind partridge. Not good when we head towards the next grouse hunting season.

Trapped bull? I think most of us are nursing share price averages higher than the current price, so tell me something I don't already know? Don't single me out and make a mockery of me.

Jizzy

And it's for these reasons, I was hoping that the share price would go into suspension soon after the offer was announced. All that it's going to create is yet another 'pump and dump' scenario IMHO. People will sell out at what they believe is the peak and hope that the price will fall off again so that they can buy in at what they believe the bottom is, only to make yet more money when the deal finally goes through. This is going to get well and truly played, which I didn't want to see.

DDboy,
Is that your attempt at meeting the infamous, Nurse Gladys?! This is fast becoming a Carry On film.

I concur with another poster's comments from earlier this evening: anything less than a pound per share IMHO will be a failure. I want Parsons to do ALL OF US proud and not just the few. That means delivering a sale price per share of AT LEAST a pound. As Sound as a Pound has a certain ring about it if you ask me. Just hope it's sooner rather than later, as there are parties to organise and champagne / wine to purchase.

Jizzy

Longwait?

Have you thought about slightly altering your pseudonym and putting 'Ridiculously' in front of it?

We lick chocolate buttons if that's any use to you, Long'?

It's time to put down the spam and look forward to the steak and caviar.