The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Website reads:
"Tuesday 11 June at 8:00 AM
This session will be open for questions on Monday 10th at 8am, with James Parsons, Brian Mitchener and JJ Traynor answering questions from 8am on Tuesday 11th."
Well that took me by surprise. Let the speculation begin......
12.5p paid. I suspect many LTH holding onto shares for LE. GLA
Glad it’s nearly over in many respects. Interesting fact for me is that despite the disappointment of TE-10 and the announcement of the long awaited LE, we have seen less than 5% of the issues shares traded. Speaks volumes (pun intended) to me. Improved GSA, and progress towards the sale should make for a positive few weeks ahead. Majority of us showing paper losses and wishing we had sold a while back but it’s not over yet. Have a good weekend all.
The 29/3/19 RNS stated:
'Analysis of the pressures measured in the well recorded over time has led to an increase in the Company's estimate of connected GOIP around TE-7 to a volume exceeding 115 Bscf. Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected GOIP around TE-7 exceeded 40 Bscf.
The significant increase in the Company's estimates of minimum GOIP connected to the TE-7 well provides support for the Company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery."
In the recent RNS it was revealed that the company now has a good number of targets in this area which has seen considerable success. Surely this alone is a mighty attractive part of our acreage to sell. Hopefully we will also see the improved GSA soon which add yet further value. Current SP is rubbish but I remain very confident here of a good LE. So pleased that the for sale sign is finally out! GLA DYOR.
Why would we need a rescue package? We have more than enough money to see us through the sale period.
A welcome back from me also. A Chairman with serious skin in the game, good City contacts and with knowledge of our business. An excellent choice imo.
Regarding the comments about Brian I disagree. Surely at a time when you want to sell you want an expert to explain the value of the seismic and potential targets to potential purchasers. Given his background he is also well versed in speaking to super majors who may wish to buy us, especially those who surround our acreage.
I agree Jez. Negs have been going on for a while in my view. TE-10 was slowed down for a good reason in my view.
A further thought....JP ‘marketing’ our Company to the extent that he did resulted in OGIF coming on board at 80 odd pence and the large fundraiser at 81p which was oversubscribed. Without those transactions we may have had to give up more of a share of Tendrara and wouldn’t of had the funds which we have. JP is a smart cookie and this bodes well for the LE in my view.
Crude, Joe, Jonny. I too did this in the hope of providing for my young ones but hey ho. Not over yet. GLA
Is it perhaps a factor that the senior management team have millions of options which are at 24p and 32p. If they are the self serving people that many have accused them of being then surely a sale price in excess of 24/32p will be achieved to enable them to secure more profit. Also, with C4 energy, CORO and ECHO essentially owned by the same JP / Marco gang then surely a crappy sale of SOU would taint peoples views of them. I think (and hope)that a reasonable outcome will happen here but hey what donI know! GLA
Worthless? Suppose I wouldn’t care too much if I was on a whopping Salary.
What do people think? Are they all still invested or sold out long ago?
Really! Why? I just googled it and couldn’t find it.
We don’t need JJ or BM anymore. Good riddance. JP can now dispose of our Company on the best possible terms.
Interesting that despite this disappointing news less than 12 million shares have been traded thus far. 27p still in the bag and i wouldn't be surprised to see more focus around te-5 with our remaining funds. A sad day indeed but all is not lost.
Another couple of thoughts....if TE-10 was looking non commercial and was to be plugged and abandoned this wouldn’t take another 7 weeks whereas a full test would. Despite the clarification from JP, Clarkson Is an operations man of vast experience brought in to assist with the exploration programme so why would you let him go if you planned to drill TE-11?
One Year ago, the Chairman said this when appointing D Clarkson "I am delighted to welcome David to the board of Sound Energy. David has a distinguished career with a wealth of experience, capability and achievements to his credit, and he will reinforce the Board in a number of areas, but particularly in our project development and engineering capability as we approach the development of our existing Moroccan discovery.”
With operations ending by the end of NEXT month his expertise will no longer be required. TE-10 surely must be a success here. DYOR
I thought exactly the same. 7 weeks to prepare the site, mobile the equipment, drill and test for TE-11 is surely nigh on impossible. Strong hint at the-10 success perhaps. This could just have been announced at the AGM. Obviously pure speculation but the timing of this is intriguing. GLA
Sadly I have to agree. Many will doubtless have already sold at higher prices like our CEO. The AGM may well be just the same as last year. Over promise under deliver springs to mind. #dreamsinthedessert.....only if you are a Director on a whopping salary.