Member Info for LONGWAIT

I don't think someone who asserts,

'I would say that Morocco have asked Sound to explore further to see just exactly is under the sand.Jp has,because of the excellent working relationship Sound has with Morocco agreed to take on the challenge.'

which is obviously an unproven assertion,

has the right to lecture a 'ranting mob of SP watching neurotics'

on the 'facts.'

I just bought some more.

I've been buying all the way down from 25 to 15.25.

… precisely because nothing has changed.

I was going to buy at 65 today.

Maybe the rise is linked to the bid for Faroe Petroleum.

'I think AIM is dominated by share price manipulation.

The only thing that will end it in the investors' favor is a bid.'

(my post, Friday 13:00)

I can assure you, Ian, that when I mentioned 6 TCF, I hadn't put the decimal point in the wrong place!

I was responding to the following post from JezTheFez:

'In the DD video, BM says that a year from now, meaning now....he was hoping to stand in front of us with "6 TCF under his belt". '

Am I the only one who thought that when JP talked about having 6 TCF, he meant 6 x 150 p = 900 p?

According to JJ's calculations, it's more like 200 p.

I thought those recordings made for embarrassing viewing when the share price was six times what it is now.

Sorry, Funky, but JJ has answered poster's questions about valuation and that is precisely why so many of us are unhappy.

All skeptical posts, including some from me, used to receive the re-assuring post from veteran posters that gas already discovered was worth more than SOU's market value.

Such reassurances are no longer posted because of our rude awakening.

Sorry, Joe Creed, but JJ is now contradicting what he said to you face to face last December!

I don't think we are in danger of talking ourselves into a disaster.

We can only wait and hope for good news.

Nothing we say will affect the situation on the ground - or to be more precise, under the ground.

Well, with one poster reckoning we definitely have 10 p per share's worth of assets, and other posters warning that any asset sales would be offset by high debt, I don't think JP would get to sell many golden tickets for a liquidity event.

Just hope it's not a liquidation event.

Someone posted yesterday that this company is no good and that the share price fall proves it.

On the contrary, the fall in the share price proves that the company is undervalued.

Dr Matthew Partridge, at

https://moneyweek.com/492655/take-a-punt-on-premier-oil/

recommended PMO at 128.5 p,

citing a prospective price earnings ratio of 5.5

Of course, that was before the oil price crashed, but if it recovers, a P/E of 2.8 has to be cheap.

Sorry, Ericnat, but I don't understand.

I cited the figures. for Sidi, which include a low case of 6.7 TCF and you say it could be worth 50 million pounds?

'... in the grand scheme Sidi is not worth much.'

(Ericnat17)

It is expected that the farm-out will help fund the planned 2018 work programme at Sidi Moktar.

In late 2017, the project area was estimated to host some 28 exploration leads with a ‘best case’ prospective gas resource of 8.9 TCF - 11.2 TCF in the high case, 6.7 TCF in the low case.

Additionally, it already contains the Kechoula discovery and is located in the vicinity of existing infrastructure and gas demand.

www.proactiveinvestors.co.uk/companies/news/198235/sound-energy-launches-farm-out-process-for-sidi-moktar-onshore-gas-project-198235.html

Well, among the avalanche of posts during the last few days, although a few posters have mentioned Sidi, most have given the impression that after the three drills, the game is over and the company will be sold.

Remember, as happened with JOG, we only need to hit one bullseye to transform the share price.

What is your understanding of the company's plans, TP?

If they plan to develop Sidi Moktar, then presumably the LE cannot mean a sale of the company.

https://www.proactiveinvestors.co.uk/companies/news/198235/sound-energy-launches-farm-out-process-for-sidi-moktar-onshore-gas-project-198235.html

My confidence has taken a huge knock but I still think we are worth well north of the current price...

(PNE79)

Could you explain why you think so?

I agree.

He says the forward P/E ratio is 14, but doesn't say what could reasonably be expected to happen to it later, nor does he mention the huge finds that are not reflected in the P/E ratio but add value to the company.

Judging by the share price action and past experience with other AIM oil stocks, I would not be surprised if it fell to 9 p on TE-10 failure and. even 5 p on TE-11 failure.

It may be that it won't rise until there is good news.

What I do not understand is why so many people are holding the SOU management responsible for every decision and every failure, as if Schlumberger are not involved.