Member Info for JezTheFez

I think the market is reacting favourably to the thought that Chuckle Energy plc could be acquiring the chip shop below their offices. I can't think what else it could be?!

On a serious note, there may be a RNS logged and released later today. It's a bit "leaky, leaky" here this morning.

Jizzy

Trellis,

Glad you're still with us and that you haven't choked on your own vomit or chocolate pigeon breast for that matter. Yes, the wait here is somewhat tedious but I am hoping like most waits, it will be worth it in the end. I'm looking forward to visiting Trellis Towers and having a tour of your wine cellar and of course meeting Wannabe Number 5, Vanessa.

JTF

We can only but dream, Longwait. No more chips for me today. I've had my fill of them. I am in the market for a new fez though. Thinking about buying a black coloured one with gold coloured tassels. I'll take a look online a little later.

Talking about long waits, I hope we don't have long to wait to hear what our next news bite is. I wonder if we'll get that long awaited GSA signed-off? Hmm that would be worth the wait, eh Longwait?!

Crude? I've gone up in the world anyway. I am now Trellis's sommelier. Has anybody heard from Trellis? He hasn't been present on this bb for a while now. I hope he hasn't drowned in his own vomit. Just before I start my new job as his wine pourer. That would be unfortunate.

Crude,
As I said the other day, living above a chippy has its ups and downs. Downstairs to buy the chips and back upstairs again to eat them. Don't knock it until you've tried it, I guess!

Most of us are in a losing position, but hopefully this will all end with us back in a winning position. I can't carry on eating spam all my life, perched above a chippy. I'll turn into a fritter if I'm not careful.

Gaspunter is after a quick trade I reckon. I agree though. He doesn't need to keep coming on this bb and telling us how he sold out at the top and bought at the bottom and then sold the remainder off when the share price fell. We get it, mate! Spare a thought for us lot who have good money still invested in here. Be careful not to let greed take over though, Gaspunter. I have seen it time and time again when a person thinks they are being clever by getting in last minute when they think the share price is a bargain only to be stung when the company runs out of money. I'm not saying that will happen here, but be careful what you wish for.

I'd like to hear what Chong has to say about all of this. His silence is deafening. We need an update and he owes us one. People invested thousands of their hard earned pounds on this based on what he and his ex work colleagues said. I remain unimpressed with Chong. He won't even go after Schaer either. A lap dog would never bite its master.

Longwait - nobody really knows the reasons why BM and SD bought shares. Maybe it was JP's idea and he may have given them some sort of incentive in the form of shares rather than a cash bonus. It was an attempt to keep the share price propped-up, but I've never really had BM down as somebody who would buy SOU shares off his own back. The amount of shares purchased was exactly the same at 150,000 apiece. The buy price was different though, but so what. The pair of them are underwater, which sort of serves them right because now they know what it's like to be a disgruntle PI.

I am undecided with regards to contingency payments. They can be best avoided if Parsons does his job properly and at the same time, the prospective buyer(s) make us a decent enough offer. I'm not sure whoever the buyer(s) turns out to be, assuming we manage to find one (or more), will want a load of disgruntle PI's on its back, bombarding them with emails and phone calls.

The offer IMHO ideally needs to be based on what we have proved-up and take into consideration the greater potential from the assets, e.g. the Palaeozoic, which is where Brian and the exploration team will need to come into their own. There will undoubtedly be other factors that any would-be buyer will want to take into consideration. These could be:- the strategic location of where our assets are located, the 10 year tax break, the route to market (both the European and Moroccan gas markets), and the monetisation of the Te-5 Horst. There are many, many other reasons but those are just a few.

The radio silence from Sevenoaks continues and I only hope and trust this is a good sign and that a deal is being worked out that will benefit all parties. I'll be disappointed if we have to go long and continue with the drilling. I believe and always have done that the drilling should ideally be left to one of the "big boys". There needs to be multiple drilling, some 3D seismic, further analysis and interpretation of the 2D seismic data and deeper pockets to allow for enough time to be bought to unlock the full potential of the assets.

Audible Energy?

If only you could become 'inaudible'.

Jizzy

Seaton,

I have said it a few times before. I believe we are worth AT LEAST £1 per share come the LE. People have completely underestimated our true worth IMHO. If JP is true to his word, then "all stakeholders" should be pleased, or as Malcy puts it, "pleasantly surprised." I think Malcy borrowed that statement from me though ;)

I maintain that the day-to-day share price has little bearing on what the potential and eventual sale price should hopefully be. Those that have got the two confused should IMO have a rethink. The day-to-day share price is just a response to PI sentiment and at present, an obvious market uncertainty. It's an emotional litmus test, as I call it! I see that we're not alone with our dusters: HUR and ANGUS have both had their share of them in the past week. It's the nature of O&G exploration. High risk, high reward. Malcy may have to revise his estimates for HUR. I think he said it would be at least worth 100p by now?? I think the 'b' of 'bucket' needs to be changed for a 'f' for ……...you get the picture!

Partridge,
Let's not get too exacting. We're either going to get a decent enough offer in the eyes of JP and the offer put to us to vote on, or we're going to have to kick the can down the road for a while longer, possibly go after Te-11 and a farm-in partner for SM, which will probably involve at least one fund raise and a loan, which JJ has access to.
This is where JP needs to step-up and show us what he is made of. If he's as good as he leads us to believe he is, then he should in theory deliver us a successful LE. As I have said before, I will reserve judgement on the man once I have the facts presented on the table in front of me in plain sight. He's no fool though. He probably realises that most investors want this concluded and a return on their investment so that they can move-on with their lives. We've all experienced enough can kicking with our beloved Brexit. We don't need a pair of cans being kicked down the road. So JP? If you're reading this...….we SOUnders expect a successful conclusion and sooner rather than later. It's time to get on the blower, make the calls, deliver the company presentations and get us sold. Nothing more to say.

JTF

No, I originally said that I thought the deadline would probably be July 31st and that we would hopefully learn something in early-mid August, My reference to end of June / July 1st was in the context of the deadline date probably being a month end and I was merely pointing out that this weekend was a month end. The original RNS that referenced the marketing of the Eastern Moroccan assets was dated May 22nd, so two-or-so months on from this announcement would see us at my estimated deadline date of end of July. I don't expect the 'pause' button to stay pressed for any longer than this IMO. If we don't get a suitable offer then we will just have to move on to drilling Te-11, which some on here want us to do and others want it to end ASAP. This really could go one of two ways and it's difficult to say what will happen given the radio silence coming out of Sevenoaks. I hope we get some news next week. I don't want to see another quiet week with the share price heading further south. It's depressing, so hopefully JP can work his magic. After all, deal making is in his DNA!

Jizzy

Crude,

We of course need to make use of your salt throwing skills. We don't need any more seismic and we will drill wherever the salt hits the sand. That is once Omar has done what he needs to. We'd have more success between us than Mitchener and SLB. That goes without saying. The decisions going forward needs to be handed to Chuckle Energy and Omar and only then can great success be achieved.

He'll be at the Expo in the UAE peddling his new company if anybody wants to go over there and see him.
If enough people send the relevant authorities similar messages then they will have to stand up and take notice.
The audacity of the numpty astounds me though. Somebody needs to wipe that cocky smile from his face for good.

Success in Tendrara is very easy. Hand the power over to Omar and Chuckle Energy and we shall have great success. The gas is in the ground and Omar with his great skills and wisdom will be able to locate it. I have spoken with Omar offline and his methods are very simple. I of course use my wonky fez to give me the information I require in order to make my decisions. Yes, Chuckle Energy combined with Omar's expertise has to be the way forward.

Announcement, I suspect. It appears to be a very tight ship at present. Almost radio silence, which is probably a good thing. When JP is ready to tell us something then he will. I hope like many that this is sooner rather than later.

Deadline dates usually, but not always, tend to be month ends. We have a month end coming-up this weekend. There is a chance that the deadline date for when offers need to be submitted by could be midnight this Sunday. I suspect the SOU team are working day and night to get a deal done. JP won't want to let us down or himself for that matter. That is still my strong belief despite the current share price. The sale price is what he is lazar focussed on.

The question is, how long has the 'pause' button been pressed for? Given our financial position and what appears to be a bit of a lack of appetite to carry-on drilling unless we really have to, I suspect it could be a couple of months, maybe longer but two months should in theory be enough time for a prospective company to express an interest and sift through the company presentations, webinars, face-to-face meeting and seismic data.

The share would probably go into suspension at the point the prospective buyer makes an acceptable offer in the eyes of JP and in-turn he will put it to us. He may elect to keep trading going for a while though and enjoy the scrap for any available shares. I suspect the share price to rocket on any positive news landing, which is why now seems to on the face of it to be quite a good time to top-up or average down.

We just don't know what's around the corner, but those who are in this until the end as I am, have to agree, these could very well quickly turn into #excitingtimes making a lot of us #pleasantlysurprised.

JTF

There was a very ominous silence on this bb today and we finish in the blue. Maybe trolls turn normal in sunshine? Not sure what is going on, but this new found calm is quite soothing.

As long as I can put spam on my table then I am a rich man.

JTF