Member Info for JezTheFez

Timster - that is because the market is still feeling emotionally charged and what I have been saying this morning is, try and detach whatever emotion you may or may not be feeling with what on the face of it seems a fairly decent business transaction.

I'll put it to you another way if it helps...…

Do you think our Eastern Moroccan assets or indeed what may turn out to be our company (whole company sale) is worth more than 11p per share? If the answer is 'no' then my words have clearly fallen upon deaf ears. If the answer to that question is 'yes' then I believe I have made my point.

I think another bit of important news today, which some have overlooked is that our good friend, TRELLIS, has returned back home from his lengthy hospital stay and we should all wish him well and a very speedy return to his usual endeavours i.e. wine drinking and being grumpy. Glad you are now back home, Rich and I hope your wine cellars aren't too depleted. A few nifty shots of the red wine vinegar and you'll be fine.

Jez

JP would have already had his contingency plans in place should Te-10 be non commercial, which it turned out to be. That is why the news flow over the past couple of days has been in the most part, clear and concise IMO. Future news flow should take a similar path because I think a lot of our future has already been mapped-out.

Expect the i's to be dotted and the t's to be crossed in due course. I think it won't be very long until a buyer or buyers is /are found. There may already be a buyer in place for all we know. The point is, we're not starting from a sedentary position. This is a moving beast.....it always has been and JP is a deal maker and I have always maintained that whilst others seem to be too busy cussing his name.

Timster,

You don't know that, for sure. How can you say that the market doesn't value SOU at the moment. Were you party to the talks that have probably already taken place, the many companies that have come in and out of the data room since it was set-up, the many negotiations and conversations that JP has probably already had with prospective buyers? I guess not. I think we will all be more than happy with the end result here. My fez is twitching, which is usually a good sign.

whosthedaddy,

No, I don't think we're in a position of weakness. Remind yourself of what we have already proved-up and the analysis that has gone on for the past couple of years. I think there is enough for a potential buyer or buyers to go at and I think you may have underestimated what we have probably because right now you are feeling emotionally charged, which is understandable. I have detached any emotion from this today and am now purely looking upon this as a business transaction and the numbers do stack-up. That is, in terms of where the share price is today and what we should ideally achieve via any asset sale / sale of the whole company.

JP will be able to update the attendees at the AGM today and I think people will be feeling a lot better in their minds about the future. This is all in my opinion of course.

Stay positive and openminded at this juncture in time.

JTF

whosthedaddy,

The figure of 20TCF wouldn't have been blindly plucked out of the air. Those going to the AGM today can ask JP and BM how they have arrived at that figure. They would have been analysing the seismic data in some detail over the past 3-4 months, so they have a fairly decent idea for what the potential is across the block. The 3TCF mentioned in the recent RNS just pertains to the Te-5 Horst area and not the whole block, so don't get the two confused.

SM was purposely not mentioned in today's RNS and the savvy ones out there would have already worked out why that was the case. I'm not going to tell you why either because you should have all worked out why by now. You don't need me to school you again.

We're now back in a very, very interesting place after feeling as though all of he wind had been taken from our sails yesterday. I am now very much looking forward to seeing how this all pans-out.

#maythefezbewithyou

Jizzy

Thanks Sj100.

Still shocked as to why people aren't buying-in in droves today. We have had a RNS that clearly states that we are up for sale, which to me is no different than a LE, or am I being delirious? I think people are still feeling emotionally charged and confusing the day-to-day share price with what the eventual sale price will be.

Top-up time for the Chuckles. You can't really lose money from this level, surely? Some of you are talking about figures of 25p-50p and so even with these low figures you're still doubling your money. Try and detach your emotion from what is on the face of it a decent business transaction. Do you think the sale price of the asset / company is going to be more than circa 11-12p? If so, then I say top-up / average down....do what you need to.

I have been pretty much spot-on with all of my other predictions, which I suspect people can now see despite the abuse I have received and continue to receive when all along I was merely pointing out what I could foresee happening.

I also think people need to apologise to my brother STZ who has also taken a lot of stick and was one of the only ones to call it right. He along with Omar and the likes of Marrakeshreg and Gasbag.

Even when I had my third top-up last week in the 17p's, I still hope to get a return on my investment.

People should read the RNS again. In it is mentioned 20TCF and so even if that is a gross figure, it is still a very, very decent place to commence or recommence negotiations from.

Am I the only one who is feeling positive about today's RNS or what? Cheer-up people and load up. As I have already said, more news flow to come and I think people will be pleasantly shocked. I really do. GLA.

Jizzy

I have read the RNS today and I'm surprised the share price hasn't shot up even higher. People seem to still be getting the day-to-day share price mixed-up with the sale price. JP thinks there is 20TCF on sale and so people should be using that as the basis of our value. Don't underestimate JP's ability to pull a rabbit out of a hat and do a deal that will restore a smile back on to our faces. He is fully aware that the share price went up to around £1.02 and that investors were buying right up to these levels.

Looks like I was correct in my assumption of there potentially being an asset sale. So, one of two things could happen now IMO: either we sell the Eastern Morocco assets then move on to drilling another well or wells somewhere else, possibly over at SM with a farm-in partner, or it turns out that our buyer takes everything including SM. The RNS suggests it is the first option, but I think if a buyer comes around and wants to take everything then so be it.

I think the sale will go through fairly quickly now because I think the data room has been open for a long time, since around Summer last year IMO and so companies would have been going in and out and JP would probably have some indicative offers in place in order to proceed with negotiations.

This is in fact very good news as it turns out and the market has chosen to remain prudish. I think it will take just one more juicy RNS and the share price could become very excitable. More news to come I reckon so keep your eyes and ears to the ground. It will be interesting to see what is said at today's AGM. Those who are going, please provide us with updates.

I repeat once again...…..do not underestimate JP's ability to do us a deal that will make us happy and do not confuse the day-to-day share price with what a sale price could be. I'm not going to put a figure on it this time around, but I will restate that JP knows where the share price has been in the past and he will probably want to be in a place where nobody has lost any money, right? Right!

JTF

Not2sure,

I "discovered" Simonthezealot on a train platform last night and he farted so loudly as he got off the train, it made his eyes water and the fellow passengers were all disgusted. I couldn't see any oil and gas major rushing towards his backside to stick a pipeline up it. The same analogy exists here. A "discovery" doesn't and never did mean we had a "commercial" well. I did warn you and others to exercise caution, but you chose not to listen.

JTF

I believe that so many lessons have been learnt by now, that we will be better placed when planning and drilling Te-11. No stupid delays, no uncomfortable silences, no ambiguous body language from the BOD. I want to see more open and honest dialogue, monthly conference calls so that people aren't left second guessing and to cut out all of the swanky events at overpriced establishments in Mayfair. Those days are no over and should be reserved only on a successful sale of the company, whenever that will now be. As I have always said, I do my celebrating when the job is done and not when it is half completed. I think we'll see a couple more drills: Te-11 to explore the Palaeozoic and a safer appraisal well around the Te-5 Horst. I suspect there will almost certainly have to be another fund raise so that we can keep the lights on until the job is done. I think that the BOD should take a 50% drop in their salaries or pay themselves in shares instead so that they share the pain with us when things go wrong. It has always worried me that BM never purchased any shares and being the Director of Exploration, that has always been a red flag for me. It demonstrated a lack of confidence IMO.

I wouldn't like to be in their shoes for tomorrow's AGM. I'm surprised some of you are still attending. I'd be too angry and disappointed to stand there listening to them banging on about the fact that this is exploration and nothing is guaranteed and set in stone. That is apart from the overinflated wages they have been paying themselves whilst our life expectancies have diminished.

ALLCHRIS? I feel for you and your wife tonight, but we aren't finished yet and you should stay strong and believe that we can get some success with our next well(s). Most of us are down on our investments, so no matter how small or large the loss is, it still hurts. I have already lost thousands with my failed MYSQ investment this year, so this is another bitter blow for me.

Chins-up and lets march onwards. Nothing we can do now apart from hope and trust that one day we may....just may get a bit of well deserved fortune.

#maythefezbewithyou

Jizzy

PNE?

If you're in this for 30-40p a share then I suggest you sell-up tomorrow morning and do us all a favour. You have no backbone whatsoever. I am one of the only ones on here who have suggested we dust ourselves down, man-up and be brave and move on to the next well. You are a blithering fool and you know it.

I agree. Te-11 plus perhaps an appraisal well around the Te-5 Horst area. We could be looking at another 12 months, but we never seem to get out of our 12-18 months exit timescale.

PNE? FWIW, I still think you are a numpty. You would have been slating my name if the well had been a success and you know it, despite me being invested here. Any chance to have a cheap pop at Jizzy.

Jones,
I'm one of those who has been kicked in the teeth and am down on my investment too. Don't forget that. Christ, there are some real numpties on this bb who think I have a protective halo around me. Unfortunately not.

Shut up KTF. It has been mostly me that has been trying to rally the troops here today after the news. You have to appreciate that I have taken an incredible amount of stick and abuse for saying what I said on the uprun to Te-10 when most of you thought it would be a roaring success. Lessons have once again been learnt the hard way today and 'people' in the most part don't really care about your attempts at trying to gain the moral high ground. All you contributed to this bb was aggro', which you imparted on fellow PI's and like many, didn't want to put your neck on the line with any of your predictions. That's where you and me differ, sunshine.

Dawnrun - and I don't think we should sell out at 45p. I think we should be brave enough and refocussed and go after the gas. All of course IMO.

Shaungreen?

Have you decided on which charity you will be giving your £20 to yet?
Be a man and pay-up. I would have gladly paid the £20 but you have fallen quiet. Shameful that some charity is going to miss out because you couldn't be bothered to make a donation. I hope you have learnt the lesson? Never enter into a bet with me because you'll probably lose. My predictions were right - those ones you attacked me for along with your cronies, DDClive, Jobbs, Wanger and PNE79. What has PNE got to say about this? The silence is palpable. Pathetic bunch of individuals who spent months and months of their time trash talking me when now people can hopefully see that a lot of what I was saying held some truth. The truth can sometimes be very painful and I am not gloating as I have lost paper profit today too. I'm just making the point that all of your trash talking turned out to be a complete and utter waste of time and that is why I begged you all to let me have my say and to filter me if you didn't want to scroll through my comments. Nuff said.

JP will probably comment that this is the nature of exploration. Sometimes you win and sometimes you don't. The difference is that he has been paid handsomely whilst the rest of us have had our dreams of bettering our quality of lives ruined again. It's a crying shame that the exploration team have messed up again and as I have already commented, I blame them and not necessarily JP - despite the fact that JP is in charge overall. He would have trusted his team and there is no crime in that. That is why I'd like him to stay. I think BM should leave though. I don't think he has reason to stay on and not with his poor results.

Thanks gmarchy14.

I really do believe we still have a very good chance at success here. We have been faffing around in the TAGI level for way too long IMO when all along, the big prize exists in the Palaeozoic level. I believe that with a renewed focus and careful planning and leadership, we can still have a decent LE. Yes, it's clearly going to take more time, but I am hoping it will be worth the wait. I'm going to get grilled by STZ tonight for my recent top up, but as I said, at 17p I thought the risk / reward was compelling. The share price will recover in time I suspect, so those that managed to get back in again at around the 10p mark...very well done.

We're supposed to be underpinned at around 27p, and that is without SM included and all of the other things we have been doing e.g. the seismics. Even if people had averaged down today, I suspect that many will have averages way in excess of 27p because of the fact that the main investments were made at a much higher price and that it would take a fair wedge of cash to bring the average price down to the mid 20p's. Just wait and see what JP says regarding our next move and our decision to drill Te-11. No point throwing fire and fire at the moment despite this whole scenario being incredibly disappointing.

This is absolutely gutting for the vast majority of us. I'm now bed bound, holding my arms in the air asking, why? There has been so much hype around these drills so far and so many delays. Should they go on to drilling the Palaeozoic level, which I personally think they should, then I hope that harsh lessons have been learnt. We have been given permission to drill 11 and I think we should jolly well go after the big prize. We can still do this guys and gals. It is incredibly mind numbing and heart wrenching, but we just have to plough-on and give it one last shot. We can't throw the towel in now...we really must forge on and be brave.