Member Info for LONGWAIT

'The expected average production is 60 million cubic feet per day for a minimum of 10 years.'
(translated from the French at:
https://www.leconomiste.com/flash-infos/gaz-sound-energy-construira-un-pipeline-de-120-km-tendrara)

Based on 300 days per year, that makes a total of 180 bn cubic ft.

How much would that be worth to SOU?

It does seem that those posters who expressed doubt that the so-called Liquidity Event would result in a 1000 p per share offer are being proven right.

Most holders would probably be relieved to receive 100 p per share.

Well, if the last drill really is as good as it gets, then the damage is done.

What harm is there in drilling TE-10, seeing as it is the biggest potential prize of the three?

You seem to be implying that the company could actually be in a worse position after TE-10 and TE-11, Shedulike.

Briefly, Crude, what is Plan B?

You know, Sensible Guy, some posters are questioning whether the proven resources really exist, whether they are as good as thought, or whether anyone will buy them.

Sound will now take the rig directly to the TE-10 site which is ready for it and the well will target a large TAGI structural-stratigraphic play with a mid-case of 2.6 Tcf GOIP. As these wells are not correlated the result on TE-9 should not be considered as any sort of indication as to what TE-10 might find. Unsurprisingly the share price has been hit this morning but I suspect that certainly at the off, it was overdone. The company confirmed today that it was still preparing for the FID for its TE-5 discovery as planned with the FEED ‘conducted and paid for by the Enagas Consortium’ scheduled to complete around the end of this year. It is also worth noting that Sound has cash balances as at 14 November of more than $30m.

While I was out today, I did a calculation in my head, using elementary probability theory.

Assuming a COS for each drill of 30 percent, the COS overall (I.e. at least one successful drill ) was 65.7 per cent.

The COS for the remaining two drills now drops to just 51 per cent.

What I would like to know is whether the critics are of the view that this failure means the gas is not actually there, in that. general area, or whether they think it is there but that SOU and Schlumberger are incapable of finding it.

Good for you, Double.

Unlike you, I allowed myself to be sucked into the Sound razzmatazz.

When I then saw the directors' performances at one of their shareholders' extravaganzas, it reminded me of the announcer at a fairground, trying to get the screaming girls on the Big Dipper excited.

That was the first warning sign I received.

Another was the top man selling shares (a director of Circle Oil sold near the top, on the. way to oblivion. - another great success story).

I agree with you that the market's reaction is not. entirely rational.

SOU has fallen 85 per cent. from its. peak.

Why. exactly?

Has the gas disappeared in the. meantime?

Thanks, Miss Dosh.

Good company news. and Brent is holding up.

Why, then, is the share price down?

Some people are suggesting SOU be sold if the remaining drills fail or even before the drills.

How do we know anyone would buy it unless at least one drill is successful?

On the other hand, are they really saying that all the seismic data is wrong?

Is it really possible that after three failed drills everyone would conclude that the data must be wrong?

Sorry, but I can't keep up with the abbreviations.

What's TD?

I agree that insider trading is serious, but what action will be taken?

None, I suspect.

Th2 big question, to my mind, is this: if the remaining two drills also fail, what is the company left with?

Hot air and forgotten hype?

You may be right, n4apound, but even if JP knew that the price drop had been caused by a news leak, he couldn't say so without himself announcing the drill result prematurely.

Could he, or should he, have done so in the circumstances?

But, Mike GP, how confident can we be that your valuation is realistic?

There are posters saying no-one wants SOU's gas.

Must say that I don't know what makes them think that.

Well, if it's true that the share price fell because of insider trading, then we will know the TE-10 result well in advance...

I have no idea, John Henry.

It's a question I have asked before.

If estimates made by other posters are close, then the shares are cheap.

But who knows what to believe?

Maybe one poster's prediction of a rise from 1 p to 40 p will come true.

I didn't know what the result would be, although with a chance of success of 30 percent, any single drill is likely to fail, but I did say that I thought it would be wiser to hold back before buying any more.

If TE-10 fails, it might be possible to buy at about 5 p.

I did long ago renew a spread bet at more than 90p, but closed it at 57p.

Now I wish had sold my shares too.

As I said, if and when there is good news, it is likely to be from such a low base that you could still buy the shares cheaply.

I'm still holding back.

Careful, Ginger Bear, about which tragedy you quote from.

Remember that Macbeth asked Lady Macbeth, 'If we should fail?' and her answer....

Thank you for all your insights, Simon Zelotes.

You have explained how we have all been brainwashed and thereby tricked into parting with our cash.

Just one question: in your opinion, have Schlumberger also been brainwashed and thereby tricked into parting with their cash?

If PMO returns to the. 50s, I'll buy more!