Member Info for Maldini1

Just checking to see if it’s only the BOD who wants the highest possible SP if selling out???. and don’t assume that “ most of this BB wants him convicted of fraud” what garbage people speak on behalf of others.... and that’s not to say that I’m any less miffed than anyone else at the current state of affairs!!!

And if they bought us out they would be even closer to the Algerian border...

Q3 has the feel of a presentation which you might use for a prospective buyer i.e. a short, sharp overview of what’s on offer as a discussion opener. Notice the change of heading on slide 2 from “A MID-CAP MOROCCAN GAS COMPANY” in previous presentations to “LARGEST ONSHORE OPERATOR IN MOROCCO”? Odds on that a Q3 presentation for PIs was not at the top of SOU’s priority list, so let’s hope it’s because the BOD is busy putting the final touches to a worthwhile conclusion.

Even more telling is that iis have now increased from a low of 8.7% in Q1, to 14.3% in Q3, a rise of some 64%.

And also the fact that SOU has legal title to its share of the gas at TE5... its ours and we therefore have negotiating power whatever some on this BB would have you believe. So if any hostile parties tried to get SOU to part with its assets for next to nothing, it’s unlikely that production would be achieved by 2021 and without SOU’s cooperation that would really suit Morocco wouldn’t it? SOU still has significant influence in the final outcome.

No point in using logic here Dave, it gets lost in the noise of “ripping people’s faces off” as one wise guru offered up yesterday. Odds on that the heynas on the board are shorting the pants of this share hence the frenzied attack on the price and anyone who suggests otherwise. Let them get on with it .. wont change anyone’s holding unless they sell now....and of course many already have sadly.

For anyone bored to tears by the hamster wheel of the BB, can I suggest writing the number £1Billion in big numbers on a piece of A4 paper, frame it and hang the picture somewhere prominent. Then, when you are in need of a little inspiration to combat the battle fatigue which has set in on the BB you can look at it and be reminded of the tangible value that we have locked in the patch of land which is the TE5 Horst. Chins up, it’s fact and not fiction.... every little bit helps.

Haha Trellis, great analogy if I may say so. However, taking a lead from the great Dante Alighieri, my analysis is that we’re currently in a state of purgatory, but hopefully heading towards heaven rather than the opposite direction. Time will tell of course, but at the moment it feels more like a torture scene from the Spanish Inquisition. Sante’.

Easy analogy: if you continue to hold shares, you continue to hope for the best outcome, so you don’t kick the company in the gonads at each and every opportunity,....unless you have a vested interest in seeing confidence evaporate.... or you’re a turkey and you can’t wait for Christmas.

I see the usual bunch of orchestrators are out in force this morning aiming to drag the price down to their predetermined 7p. Not a bad strategy in the absence of any news.... it’s certainly spooked many into a concerted selling spiral which will only stop when tangibile news lands.... and it will. However by that point the keyboard army’s job will have been done and they will have walked off with your money.

Here’s a thought. The vultures have well and truly moved in to join the resident doom sayers on the BB. It’s become a vortex of bile filled schadenfreude and vilification which is being driven either by personal agendas or hacked off investors nursing heavy losses. My empathy and sympathy extends to the latter and my middle finger to the rest. Regular communication of the marketing process by the company might have avoided some of this angst but instead they’ve created a vacuum of information which is not serving Pis well and is feeding the uncontrolled frenzy of others. Will Pis be ok in the end? I don’t have a clue anymore but I’m choosing to place my faith in the BOD and in the occasional £200k buys which show that someone out there hopefully knows something. Now I’m going to switch off this BB for a while and would invite other genuine investors to do the same, leaving the more vocal and distasteful elements on the BB to have a free run.

Just noticed that it’s a £200k buy for 2 million shares and not as I thought earlier a buy for 200k shares!

For the most I suspect that many on here are not O&G gurus and as such the debate around T10 or not T10 must be very confusing. A validation of the following assumptions, in noddy English, I think would be helpful please.

Yes, agreed, JP confirmed that we will not pursue T10. But if the reservoir that sits below is still of interest to a prospective buyer then they’ll put some sort of value on it. Hence another drill in another location at a future time might reveal the goods. At that time the new drill will be called T17 or whatever other name is ascribed to it, but it won’t be TE10. Hence why discussion around TE10 should be regarded as been and gone. What do people think?

For the most I suspect that many on here are not O&G gurus and as such the debate around T10 or not T10 must be very confusing. A validation of the following assumptions, in noddy English, I think would be helpful please.

Doesn’t take much for people to start regurgitating the same old stuff ad nauseam. Until this morning’s RNS the company, according to BB debates, was worth anywhere between 10p and £1 per share. A £3m raise later and the proven assets are now worthless. Seems like there are enough O&G experts on this BB to unlock Tendrara 10 times over. Any volunteers anyone?

Davey....or at lease a buyer who has yet to make a serious offer. For all we know one or more offers may have already been received, none of which may have been deemed worthy of serious consideration. The BOD has already said that it will only put an offer to shareholders if they would be happy to recommend it.

And this is the rub folks. SOU’s “elegant” solution should consider all shareholders. That’s why an option to cash in and leave (option 1) needs to be part of any solution alongside an option to receive a special divi and carry on (option 2). Maybe option 1 should be a more generous payout than option 2, thereby creating sufficient funds for those remaining to go again. I might also imagine that option 2 would come with big partners and some contingency payments.

All perfectly sensible points Jones1980, but “expect” and “want” are quite different words. My expectations of SOU like any other investor have diminished with the failure to extract any gas at commercial rates since TE5/6/7. I am therefore in exactly the same boat as many other investors who have seen their investment reduced tenfold during the past two years. What I am therefore left with is hope rather than expectation that a decent result from the current process will see many investors back in the black, including me. Nevertheless we have assets and we have potential, so what I do want is for the BOD do their utmost to find the absolute best solution that they can. I see no benefit at this stage in talking the business down irrespective of how individual investors may feel towards the BOD. It’s not good for the health and it’s counter to the very outcome that we all want. In this respect I think that the demand placed on the BOD is a very reasonable one. I’ve got everything crossed for all investors here.

Even more reason why every investor should now want the BOD to deliver!

Interesting isn’t it.... there are compelling arguments on both sides of the divide as to why the sale price will either be hopelessly low ball or optimistically high at 50p plus per share. Both sides are entitled to their opinions of course and their arguments are equally valid.... or invalid as we will all find out in due course. But what I find really hard to understand is why certain investors are trying so hard to prove that the company is worth diddly squat. You might have thought that they too would want to cling on to some sort of hope like the rest of us and if they are so convinced that we’ll be no better off than we are now, why remain invested? Could it be that deep down they too are also clutching at the same hope that in the end we’ll be ok, or is simply that they’ll get all the reward they need from the smug satisfaction of knowing that they called it right after all. Some consolation eh?