Member Info for LONGWAIT

I think if no-one makes a reasonable offer, SOU will have to come up with an alternative plan and, provided financing is forthcoming, no distress sale could then happen and, in the event of a drilling success, the price could rise substantially.

I think if anyone wants to buy Tendrara relatively cheaply, this is their chance.

It's a very strange experience, when reading today's posts.

Some posters are saying that the entire SOU operation has been a confidence trick, that JP is practically a fraudster, and that the company is facing liquidation.

Bit players in the whole massive fraud exercise include, by implication, Schlumberger, Rothschild, OGIF, the people who valued TE-5, the seismic data, and the people who have taken up the latest placing.

All of them, we are expected to believe, have been part of a confidence trick to get us to stay to the bitter end, only to find that there isn't, nor ever was, any commercial gas in Tendrara.

Something like an AIM version of Big Deal at Dodge City.

Please don't write 0.25 p when you mean 25 p !

I agree that the market price is ludicrous, unless it proves impossible for the company both to sell Tendrara and then devise an alternative plan.

You're not relocating to an upmarket chip shop in Docklands, then?

Everyone will be relishing the pickled gherkins.

Exciting times indeed.

I think we should email JP immediately to give him the good news, so he can cancel the placing and also the salary cuts.

Our friend Double has already explained that he cannot afford to wait 24 years.

I'm doubtful I could manage it, either.

I can imagine them bringing me the good news at my nursing home:

" Your payout from Hurricane Energy has finally arrived, Mr Longwait. Aren't you pleased?"

Longwait: "Hurricane Energy? What's that? Has it finally replaced oil?"

And to think that the share price is being held back by the fear that the oil will dry up within days, weeks or a few months.

What would satisfy a sceptic - six, 12, 18 or 24 months?

I think you mean, 'should be sold,' YinYang

May we take it as read that the entire Chuckle board has taken a 29 percent pay cut?

'How can you have the means to not run out of money if your not making any

By raising it until you do make money.

PVR's share price has collapsed because of delays, but until a year or two ago people were saying the same thing about them.

In fact, their CEO himself said that he thought potential bidders had been waiting for the company to go into administration.

PVR then secured three farm-outs.

'I tend to agree with you why would any potential buyer not just be patient let us run out of money and take our assets for nothing'

Maybe the real point of the placing was to prove that SOU has the means to avoid running out of money.

I agree that these are not exciting times, but rather they are anxious times.

I don't think there is anything clever about predicting a fall to 7p per share.

Anyone can predict lower prices for a slumping share price and be proven right until the price finally bottoms.

What I don't understand is why anyone would see this as a 'dead investment.'

It seems to imply that everything - not just the Gherkin - about this company is a mirage.

TE-5 was independently valued at 27 p per share; that isn't just hype from JP.

What about Schlumberger's involvement and the (admittedly questionable) seismic data?

Are they a mirage too?

Is it just a coincidence that the seismic data indicates the presence of large quantities of gas in a large area and that in that same area commercial gas has in fact been found?

... and what do you mean by 'agenda'?

What do you mean by 'bent'?

JP actually said that?

That suggests that until the placing was announced, he thought that the sale might be considered to be a distress sale.

That is not encouraging.

If Tendrara is sold and we get a special divided of 50 p per share, you would make a profit of £120,000, which would not be a disaster.

You would also still have your stake in the company, with the possibility of something happening with Sidi Moktar.

I agree with you - and everyone else - that this has been a horrible experience for all of us investors (and I never even went to the Gherkin event and am not sorry I missed it) but I see no reason to give up hope yet.

I've sometimes said the same thing to myself about other shares, Noggers, but it won't happen unless the company is going bust.

I'm going to keep buying and defy the AIM gods.

If there really is 25 mmboe, then eventually the price must hit 200 p again.

If there's more, it could reach 600 p, which would be a ten-bagger from here.

It should hit 3p, seeing as the peak was just below that, but with the oil price falling, maybe less.

However, in the event that something goes wrong, I suppose we're looking at 0.5 p again.