Member Info for keeptofacts

I guess that tradesmakes would stay home all day everyday if she was selling her house rather than let the estate agent (Rothschilds) deal with approaches from pottential buyers.

assuming she has a house to sell of course :)

you'll notice I posted that after the market shut.
not trying to talk anything down, frankly it needs no help.
just wait and see.
if I'm wrong I'll admit it.
if I'm right I shan't say anything as I don't do 'I told you so'

forgot to add, I suspect the discount will be of the order of 30% (how else could they get them away?)
so we are looking at a placing at 0.1p (or 12.5p after the inevitable 125:1 consolidation

it's only £10k ffs!
the bod have very clearly stated they WILL raise more funds soon as they NEED to.
yet deluded people on here keep saying it will rise ....

the only questions to ask right now are
1: when will the next (next not final) dilution happen?
2: how big will the discount be?
if this drops further Monday it's a nailed on cert that they will consolidate immediately before the next fund raise as they won't risk getting to nominal value.

it's actually quite funny today.

further - I didn't realise Schlumberger are active in data room provisioning
https://www.software.slb.com/services/managed-services/data-room-provisioning-services

I'm just not buying what the bashers say about the assets not being worth much.

https://info.drillinginfo.com/blog/buying-and-selling-oil-and-gas-properties-a-quick-guide/

I particularly like the fact that investment bank led deals are usually higher value.

Sellers of Oil and Gas properties typically take one of four (or some combination) of the following routes:

List on a Site: In this situation, the seller places an ad and hopes for a call.
List Through a Broker: Here, brokers list your deal on their website, set up an online data room and promote your deal both through word of mouth and online channels to a network of known buyers.
Investment Banking: These are typically high-value or less public deals, promoted by the investment banking community directly from sellers to buyers.
Self-Promote: Corporations who self-promote have a lot of control in the process, since they host their own data room. But, this tends to take lot of time since selling is not typically their core competency.

yes

please excuse typos.

should add that there is no indication the Sch want to sell.
this imples they see value in the assets.

no.
they can't sell what they don't own.
most O&G asset sales are some % of total.
not often a small explorer holds on to the whole asset until a sale.
Sou's % is actually quite large by indistry standards.
Cove is a good example (again)

the government want / need TE5 production flowing a.s.a.p. they won't be putting anything in the way of getting a major onboard. indeed, quite the opposite I would say.

seaton - would a prospective buyer go to the time and expense of an SPA before having some commitment of their offer?
seems to me that they would want indicative terms accepted first.

you know as well as I do that the gsa offer could be accepoted at any time.
the fact that they haven't implies that they hope for even better.
a buyer will look at the offer officially made by the government and see that as a fllor on valuation of TE5
to suggest otherwise is either naive or disingenuous.

thanks Soundingoff.
interesting to attempt to put the various components of Sou's assets into the various catregories on P14.
do that and add in something for Te5 with gsa/feed/bot etc and I personally come up with something much more attractive to share holders than 25 or 50p
$100m/year to sound from TE5 alone .....

I doubt it.
they are a well known sucessful investment bank. they don't need the retainer money (small as it is). the motivation will be the % of a sale price they eran in commission.
anyone think an investment bank will spend months working for a million or so? not a chance, they make that on issuing one convertible bond!

yes, and even more to the point Rothschilds are happy to waste their time trying to sell said useless assets!

:)

the stupidity of some of the bashers on here beggars belief.

utter gibberish.
there's been very little dilution since sound became sound

you DO realise that they are NOT getting the shares at 1p, right?
that will be the nominal value.

good grief.

as you like to quote from rns' perhaps ypou forgot this quote.
"As previously announced, the Company's working capital position is dependent on new funds being made available to it and it continues to manage its working capital position carefully."

that is new funds in addition to the funds you mention and mentioned in the same rns.
ergo, they DO need more funds despite you saying they don't, and this is from the horses mouth in the rns you selectively quote from.

"Furthermore, why would you consolidate, before using remaining increased shares, which would still only be HALF of last one? imo"
do you understand the concept of not being able to issue shares despite authority from shareholders if the issue price is below nominal value?
because the statement quoted above implies you don't.