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Hi Chancers, my understanding of forward selling is that the company knows that they are going to receive those shares at some point in the future but sells them before actually getting hold of them.
Intersting article about Cornhill Capital;
www.sharesoc.org/blog/regulations-and-law/forward-selling-a-crime-against-shareholders/
Dear fellow SOU share holders .
I have posted on this board in the past and have been accused of being GRH
I am not him
In light of Trellis (Richard Ellis) forgoing anonymity, I have also made this decision as proof that I am who I say I am.
My name is Edward Hilton and I am, for me, a large and very out of pocket shareholder here
One of the roles that I fulfil in my current employment is that of a strategic planner
The reason for me writing this post now is for the following;
Sound Energy, potentially, now faces a further difficult time financially, we have seen massive shareholder value lost, perhaps forever.
The only way we are going to stand a chance to get our money back is through successful exploration drilling
When optimism on this board was higher, people here wanted GRH to post a prediction of what he thought would be the outcome of TE-10. His refusal to respond to that request was the final validaition that several people on the board had in order to prove to that the technology was of no help here.
As some know, I spent a lot of time investigating references to the technology he had mentioned and nothing I found told me it was anything other than accurate.
I am of the opinion that it is close to 100% accurate and that Sound chose not to use it for reasons of professional ego with disastrous results for us
I have noticed that GRH posted again here a few days ago and he is now posting on the PRD board where he is apparently a sizeable shareholder
He, in one of his posts on the PRD board, refers to a post he made on III, which was copied and pasted to the GKP ADV*N board on the 20th December 2011. I did ask him to copy and paste the content of that post on to the PRD board, but I heard no more. In the event this was not needed as after a bit of searching I managed to find it.
In summary;
It related to a giant oil discovery on Iraq/Kurdistan
I have now read that post several times and even though it is now some years old, there are several important points that jump out from it;
i) That post predicted in advance the outcome of several exploration well results ie on that occasion he did agree to post forward looking drilling forecasts
ii) There was technical explanation in that post
iii)Events have subsequently proven it as 100% accurate
iv) As far as I can find, nobody on any of the bulletin boards has ever done anything like that before
In the past I had posted links to PDF's that referred to the remote sensing of hydrocarbons, because;
i) I believe that the midcase value of 10 TCF recoverable gas here might be a little on the low side
ii) I am invested in SOU and wanted the best possible outcome, i.e. the discovery of as much of the 10 TCF as possible
iii) I was and am personally interested in technology in general and I enjoy researching this subject
iv) After carrying out that research, some of which I posted on here for people to read (but I suspect no one had), I am left in no doubt that hydrocarbons escaping from reservoirs will have an effect on the minerals at the surface as well as any flora present and that this can be compared with areas where hydrocarbons are not present at the surface in order to help make informed decisions on where to drill a well to maximise the chances of a discovery.
v) I wanted to generate an informed discussion on here around the topic of the use of this technology, either so that someone can prove me wrong or to help those interested that the technology is actually of benefit and that Sound should have been utilising that technology to help reduce drilling risk in exploring for more hydrocarbons.
vi) I stand by my statement that I made that all information that can be verified, and is relevant should be used to help reduce risk.
The only question that I am unable to answer is how much the use of such technology costs, but I am pretty sure that those costs are far less than what has been seen in the collapse of the share price.
For anyone who doubts me, I suggest you read the post of December 2011 as it is an eye opener
A link is here; https://uk.adv*n.com/stock-market/london/gulf-keystone-GKP/share-chat?page=5661&xref=chatnav_i_3_b
Hi GRH
I saw your post over on the SOU baord, where you have posted in the past so just thought I'd say hi here.
Are you able to put up a copy of the ADVFN post from back in December 2011?
Firstly apologise to everyone else, as I appreciate that this is the place to discuss PRD and not SOU but please can I ask you if you are prepared to comment on the Sound Licences and if so what are your thoughts abuot them? Thank you.
I note that Paul Griffiths has experience of working in Morocco as he previously worked for Fastnet which was the company that discovered the TE-5 horst which Sound are currently trying to commercialise.
If Sound have no immediate or even medium term financial issues what are their concerns with having independant auditors checking and confirming those accounts? If anything it would help restore some confidence in the company and may, heaven forbid, actually cause a small increase in the share price.
As you have said the $7.3 M is unaudited, with the board having been very reluctant to answer questions on this subject.
There has been failure after failure after failure, the BoD need to do something to restore confidence in Sound to be able to deliver on the plan, relying on hopes and dreams and ignoring cold hard facts is not the way to run a business.
MMgames
No problem at all with your comments, this is a discussion board afterall, the main concern that I have is that we have no idea at all as to the financial well being of the company, and how much longer they will remain in business for without a fund raise.
With the share price as it currently stands how are they going to raise any significant funds to get them through until August?
Especailly as further dealys cannot be ruled out.
With RDSB, it is a very well known company, a diverse range of assets and income streams and a decent dividened, it fell from over £20 ps to not much more than £9 ps, it managed to regain some of those losses and rallied back up to almost £15 ps.
PRD has never even reached 12pps, it's long term average is about 6pps, they have plenty of potential and CO2EOR going on over in TnT, and SDX has of course proven resources, these companies have at least regained some of those losses over the past few weeks.
Sound has done nothing but decline in share price since the end of January last year, from about 25pps, (which incidentally is way above any historic PRD share price) and has not shown any sign of recovery.
This partial sale of the company to an unknown organisation does not show any signs of materialising due to whoever they are struggling to find the funding.
Is the potential there in the asset? Yes of course there is potential there but the management have made error after error after error.
Are you sure that there is sufficient time for Sound to get all the COGS in place?
I really do wish all the best for everyone that has invested and remains invested in Sound Energy but I just do not see where sufficient financing without massively diluting the shareholders will come from.
Trellis, thank you very much for the letter you have put together on behalf of SAG, you have raised some very important points.
So whilst Sound is languishing at a penny and doing nothing, with what looks like no future, a number of other stocks in this sector have seen increases in their share price since the impact of Coronavirus was felt.
RDSB from lows of about £9.20 ps to about £14.80 ps
Even more frustrating are the other companies that operate in Morocco, SDX has gone from 12pps to 14pps and PRD has gone from lows of about 1.5pps to about 2.6pps.
So although SDX is not a massive increase it would still have been a better return and of course PRD has done ok so far.
AE, I agree with you completely about ensuring you eat the correct foods to get the nutrients you need and taking vitamin and minereal supplements to enhance your diet.
What you do not yet appreciate though is that the Coronavirus is distinct from the flu and other viruses, it is not as susceptible to higher temperatures.
Thank you for the information about Shane Ellison, The People’s Chemist, I shall take a look at it later.
Just want to bust the myth that is currently circulating, there is no evidence that the coronavirus is susceptible to higher temperatures.
Just look at the number of cases in the far and middle east.
Additionally your apetite may feel suppressed, it is important though that you do eat, your body needs the energy to help fight the infection.
Take multi-vitmain and minereal supplements to help give your immune system every possible advantage.
Yesterday I had a post deleted, it contained a link to a copy of Trellis' letter, the reason for me posting that link was because of an email I received from Trellis which stated the following, and to quote;
"Have updated letter was going to send. can someone post it on the BB for discussion?"
Since Trellis is emailing this letter out I shall not post the link again.
I will only say that those of you who are trying to discredit Trellis' attempts to get some honesty out of the board are showing very poor form, especially when you consider the conmdition of both of his parents.
Jez
Could you return back to the SOU board please, I only ask that you do this for sufficient time for me to be able to obtain a bottle of vodka off of russkymole. I am more than happy to share the vodka with you.
However if it is a cheap bottle of vodka I shall let you have the lot, it should go well with your spam fritters.
Regards
Kas
You think that I am wasting my time on here purely for reasons of a vendatta? You have to be joking.
Do you not realise just how poorly JP is thought of? Surely you saw the share price increase on news that he had quit Sound, and then the subsequent fall when the following RNS stated he was going to be staying on as a consultant to push the deal through.
The man is a pure martyr isn't he, still thinking only of the PI's even after the death threats he received.
By the way I do not condone in anyway those threats, although I do understand the anger that people may have against him.
Furthermore I do not wish to start anything half ****ed, this is why in the first instance I was asking for copies of the deleted media, without that I do not think that any further steps can be taken.