Member Info for JezTheFez

"Jez, I've heard James say on at least two occasions that contingency payments were a possibility."

Crude? Can you please tell us all when you heard JP mention this? I just hope you and he haven't had one of your cosy chats in the last few days? It's almost coming across as if you are attempting to sow the idea of there being a low ball payment, plus contingency payments, so that it sinks into people's mindsets. Can you just confirm that these are 100% your thoughts and not the thoughts of our leader, JP?

JP ought to know that we are expecting a seamless and painless LE. Nobody in their right mind wants this to drag on any longer than it needs to right now. Your statements over the weekend greatly worried me if I'm being honest. You seem quite happy to let this all play out for another 12-18 months? Crazy.

Jizzy

Crude,
I just don't want all of this to drag on for too much longer. I think most people just want to see things wrapped-up at some point this year and quite frankly, the sooner the better. There's very little appetite to go on despite there potentially being a prize in the Paleo. I have lost all faith in our Exploration Team to deliver any credible results at the drill bit. I haven't lost my belief that there is a potential prize in the Paleo. That's the difference. I'd much rather hand the whole project to a new company with deeper pockets, multiple rigs and an exploration team that is able and willing to deploy 3D seismic over the potential drill sites. This was missing with our exploration drills and despite what BM said about it making no difference, I don't believe for one minute that, that is true. It is perhaps the reason why we were off with our well locations as there was a tad too much conjecture.

Trellis,

Bed time already?! Must have been a tough morning's worth of boozing then? Enjoy your slumbers and I look forward to your posts in the early hours of tomorrow morning.

JTF

Crude,

Only a week-or-so ago, you commented that you thought we would get at least £1 per share at LE. It seems you have now changed your mind? Hmm. I'm not a huge fan of CP's as I have already mentioned. If they must give us a CP then I suspect it will be based on the results of a drill into the Paleo i.e. Te-11 but not by us....by a Major instead. However, in all honesty, is a Major going to want to pay out some of the dosh and carry we PI's as SoundNewCo in tow as baggage when they can instead make us a sensible enough offer that will avoid the CP route? Remember, these guys have very, very deep pockets. E.g. Shell has an upper limit budget of 32 billion to spend per year on assets. That sort of puts things into perspective. I'm not saying CP's wouldn't work. Rather, I'm saying that perhaps in the greater, grander scheme of things, they may be unnecessary so long as the offer bid is reasonable enough, which I think is at least £1 per share.

It's all guesswork at this stage and none of us are right and none of us are wrong. We all have our own opinions, so it's good to hear what people think.

Jez

Sunday,

JP has already refused an offer of 50p in the past. I think the offer came from Shell. I recall him telling Crude over a pint , "what am I going to do with that money?" In other words, 50p doesn't excite him and I don't think it ever will. He'd probably rather go on to drilling Te-11 than take an offer for 50p anyway. Remember, he hasn't got much to lose if he goes long, but we have. He still draws a wage and if it all fails, he still walks away a multi millionaire. We'll be left scrambling around for half eaten spam fritters and rogue park benches. Trellis will be sat somewhere unscrupulous with Wannabe Number 7. Five and Six would have long left him. You get the picture....

JP needs to show us all what he is made of. It's really over to the Hype Meister to deliver us our #dreamsinthedesert.
We can all pluck a figure out of thin air that suits our positions, but I am still sticking with my minimum of £1. I won't get Shaungreen's abacus out to show you how I arrived at that figure because I'd probably end up spouting £2.50 per share. In other words, I think Shaun's abacus has a few too many beads placed on the wrong wire.

Jizzy

Crude / Kirk,

With the greatest of respect, what you are describing in essence, is a job for a Major O&G company who has the capacity (multiple drills) and finances already in place to maximise the potential of our Eastern Moroccan assets and SM if they want to dabble over there too.

We are too small to do this and running out of money fairly quickly. As I mentioned earlier, for whatever unfortunate reason, our Exploration Team hasn't been very successful with the last few drills. We're just a small AIM exploration company and JP has alluded to this on several occasions. It's time to hand this project over to the big boys. I would have thought that the MG would be demanding this anyway. They haven't got the luxury of time to find out if there is enough gas around to fulfil their energy demands.

What we don't yet know, is when the deadline date is for when prospective bidders have to submit their best bid. It could be weeks and even months off. The point is, we just don't know. If I was guessing, I'd say it would probably be end of July / early August given our financial situation. JP has pressed the 'pause' button, but hopefully, the 'play' button will be pressed and we can move towards our LE conclusion.

Although people have commented that they'd be happy with 50p, I don't believe JP would accept an offer per share, which is that low. You have to remember, the current share price has very little to do with the eventual share price, but still it seems that some of you are engrossed with the day-to-day movements of the share price. You please have to make the separation in your minds. The share price is nothing more than an emotional litmus test IMO.

I'm sill sticking my neck out and saying that it will be at least £1 per share. JP has already commented that he is working on a deal that will satisfy "all stakeholders". That is why I believe it will be at least £1, coupled with the fact that I think many of you have underestimated the true worth of our assets. Thirdly, it's where Tendrara is located in the world. It's a very important and strategic location for a Major to be, especially given the price per scuff and the 10 year tax concession.

JTF

Crude,

I think people just want us to move towards a seamless and painless sale. I don't want this to drag on any longer then it needs to. My only fear is that JP doesn't manage to get a decent enough offer and then we will be forced into a position where we have to carry-on with Te-11 and possibly SM, which I suspect won't be without at least one fund raise. I personally wouldn't let the drill bit anywhere near the current exploration team, who have consistently shown that they can't find any commercially flowing gas for us. They have unfortunately let us all down with their poor choices and decisions. If JP says he is as good as he is and that deal making is in his DNA, then prove to us what you're about. If he manages to secure a decent enough LE for us then he may just get our backing with his next venture. Failure to deliver on his promise of, "many, many multiples" will be career limiting to say the least. We want our money back and we don't want to be messed around any more. I don't speak for everyone, but the Chuckles need their spam money.

Jizzy

I'm getting drunk just reading these messages. I thought Trellis would be involved and yes, I was right.

Ching, Chong....where did this all go wrong?

My wonky fez tells me that I reckon JP won't consider anything under £1 per share with regards to LE. One of his statements yesterday said it all for me. I won't quote it word for word, but despite there still being mixed emotions here at present, I am remaining quietly confident of a decent outcome "for all shareholders." Hehe...

I see Crudehope was yesterday's punch bag on this bb, bless him. I'm sure he's heard it all before and he won't stop wagging his tail, so no point in people trying to stop him from being positive. Everyone has their own opinion so respect the opinions of others without resorting to personal insults. There's no point in attacking each other now. Best to await the outcome of the "asset marketing" discussions.

I'll leave KTF and Jones to arrange their hot date on the 36th or was it the 38th floor of the tower. How romantic. Enjoy sipping your café latte's as you amorously look into each other's eyes. No soggy biscuit games for you tonight then. I was going to get you to hold the biscuit but I think Jobbs' said he was up to the job. I suspect he's probably right.

Jizzy

Crude did the right thing. He secured his roof over his head, which is vitally important. Nothing wrong with that whatsoever.

Shed,

Perhaps the FSC will potentially make sense when in the context of a RNS tomorrow morning at 7am. This FSC was pre-arranged around 7-8 days ago, which I found quite strange because it is almost if they knew a deadline for something would have elapsed and so they could report on it to the market. Could it turn out that the deadline I allude to is for when prospective buyers had to make their offer for Tendrara or indeed even our company by? Who knows, but in the words of our very own JP...….these are "exciting times!!"

Did somebody say that JP was in Rabat last week? Was he finalising a deal, perhaps? Hmm.

Jizzy

Davey - there's always tomorrow morning. I can magic up a lot of things when my fez allows me to, but it doesn't always come up with the desired results. No, in all seriousness, tune in at 7am tomorrow morning and we may just have a RNS. I'd like to know when the deadline date is for prospective offers to have been made. Although, I don't expect JJ will be able to answer that question. Malcy tried and the question was side stepped.

Shedulike,

I agree. There is absolutely no way JP would send a tweet out like that if something incredible wasn't brewing in the background. Not after the criticism he has taken for his hyping. Of course, this tweet and the other tweet fell upon deaf ears or eyes with the trapped bulls here who were more focused on having a good old moan and gripe about how much they have lost, how they were going to commit suicide and what park bench they had eyed-up when all of this was over. Not to forget the fact that they haven't told their wives how much of the house they have remortgaged to get a decent sized holding here. I do take any comments involving suicide very seriously, but these will be the very people who will be booking their luxury holidays and brand new cars before not too long with giant smiles on their faces. Makes me laugh.....human nature eh? We're a funny breed.

Trellis,

One bottle of Malbec now fully drunk......time to consult the Chuckle Cellars to see what is left, paying close attention to the rogue bottles of pickling vinegar. I had the unfortunate task of visiting Lidl today after being stuck behind a Dacia Duster for most of the journey. God, how my jaw dropped for that miserable hour-or-so.

If you set a task for BM to locate your wine cellar, he'd probably end-up in the garden shed, scratching around for a compass. He's like Thelma our of Scooby Doo when she wasn't wearing her much needed glasses. The Exploration team have a lot of answer for, but they never did have an endorsement from Chuckle Energy plc.

Crude? You were reappointed to the Board of Chuckle Energy plc circa two weeks ago in the position of 'Head of Positivity'. There are two vacancies going at present, should you fancy a job swap? Fritter Fryer and Sommelier. The Sommelier position reports directly into our Chief Alcohol Officer, who is none other than Richard Ellis (Trellis). We are making preparations for the Liquidity Event party and so we need to ensure our catering wing is fully prepared. We have even given much thought to reappointing Vanessa, Wannabe Number 5 to 'Head of Cutlery' as I hear she is a dab hand with her knife and scissors work.

#chuckle

Jobbs….

You really are a toxic numpty. Talk to the hand cos the fez ain't listening. Grow up and chill out, will ya?!

Hi Lobon,

I haven't heard from you for some time. How's it hangin; over at HUM these days?!
Still got your warrants here, I suspect, despite being under on those due to the current share price.

OneeyedChris is right. Can everybody please remain optimistic and try and be as positive as you can given the uncertainty that surrounds us. The uncertainty, by the way, is very normal given the fact that we are currently 'for sale'. Stop trying to jump the gun and push the BOD at a pace that is not conducive to the pace of the negotiations that I suspect are taking place behind closed door. There will almost certainly be a lot of in-country politics going on right now, involving OGIF and the King, so just sit it out and see what JP and JJ can come up with. The Chuckles remain quietly optimistic of our chances of a decent LE and price per share. We both still believe that the price per share will and should be a minimum of £1 given the size and scale of the asset and its clear strategic importance and gas producing potential. JP wouldn't be sending out tweets if he wasn't confident at this eleventh hour. Have a little faith and stop moaning. In the words of Malcy, I think a lot of you will be "pleasantly surprised." Actually, I used the same phrase before Malcy did in one of my posts last week. Don't underestimate what we have, guys and gals.

We could well have an incoming RNS at some point today / tomorrow morning prior to the FSC. I am expecting at least one RNS and I don't know what you guys think. It would be rude not to and it could contain just the sort of information that some of you are craving to hear.

#maythefezbewithyou

Maybe they haven't cut their salaries because they believe that they will get a decent deal of us and that they are deserved of their pay. Should we secure a decent sale price then I don't think too many people will be concentrating on how much the BOD is being paid. They'll be too busy buying new cars and booking cruises.

Yes, I did notice The Shard and The Gherkin in the background of the video. Very subtle! That's where we were told of our, "many, many multiples."

Also with JP's links with Shell, I'd be surprised if they haven't been mulling through their copy of the data pack. Shell has a cap of 32 billion dollars per year budget on buying assets according to a poster on here...forget the poster's name now. Makes you think what someone like Shell would pay for SOU doesn't it? That's what I meant by "someone with deep pockets."