Member Info for MikeGP

56,699 was a BUY. --- along with a£1,200 long CFD.

Good luck.... my buy was followed by a "1"'er,..... RNS Monday hopefully.

JP has been out of the office all week,.. earlier in the week,. I was told he was away travelling 'extensively for the next two weeks". Hopefully that is on Echo as well as Sound business.

Best.

https://www.dw.com/en/germany-probes-huge-iran-cash-transfer-request/a-44595446

The €300 million ($350 million) in question is being held by the European-Iranian Trade Bank, which is majority-owned by Iranian state-owned banks, but registered in Hamburg with the Bundesbank, Germany's central bank.
Iran wants to fly the money out as soon as possible to avoid the potential freezing of accounts as a result of reimposed US sanctions coming into effect in August, reported Berlin-based Bild newspaper on Tuesday.

EBITDA positive this current year.. so.. looks like we are in a straight fight between Patience and Boredom!

The volume of Director Buying as per post AGM 'chats" has been over-whelming- NOT!

The CFO really needs to be in the Board room when the BoD are voting on accepting/agreeing the terms of the LE event. Hence the appointment IMHO.Given that he, along with James and Brian will be highly influential in the negotiations it was to be expected.

Clearly it would be nice to think that this has been done now because the negotiations have, or are about to start in earnest,.. but that isn't necessarily the case.

Would love to know James' itinerary for his current two weeks of 'extensive' travels. I suspect that it involves SOU and ECHO so I am hoping for significant news on both fronts.

Best

... but forgive me if I hope that you are only a Board member of SOU for a few months!

I haven't read Shaun's post,.. as I haven't seen it,.. he is already on my ignore list ....but I guess, from the replies,.. that he has probably had a pop at me for contacting JP,.. along the lines of stop wasting the man's time.

My response is this... I have met him and the other member's of the BoD on several occasions,.... and , given that I have hundreds of thousands of pounds invested here,.. I feel that i have every right to contact them when I feel it necessary. I do not waste their time with nonsense,.. but when I do have a concern ... I don't moan on here for days,.. I pick up the phone or e-mail etc., them direct.

GLA... hope JP is indeed away,.... ideally, I'd like him to return with the GSA in his pocket.

Best

mk,.... his sound e-mail,... it's listed at then end of most of the Investor presentations

Will get back to Sound tomorrow,.. as I am sure that JJ could answer my questions,.. I wonder if he is around?!

Well ..FYI.... just tried to get hold of James and have been told that he is away travelling extensively over the next couple of weeks.

Hmmm...

ahh,.. sorry,..looks ... like just another re-hash of the EIB story.

I thought that they were about to put in place an agreed mechanism for providing direct finance.... as implied in the headline.

"EU's Big Three agree to establish dollarless trade with Iran - Lavrov"

Major European countries party to nuclear negotiations with Iran – France, Germany and the UK - have agreed to maintain trade with Tehran independent from the US dollar, said Russia’s Foreign Minister Sergey Lavrov.
European companies are under increasing pressure from Washington to cut business ties with Tehran. Since the majority of transactions are currently conducted using the US dollar, firms working in Iran face potential US penalties.

According to Lavrov, the decision particularly concerns small and medium-sized companies. He explained that the participants in the Iranian deal have agreed to work out measures to protect the countries’ businesses from US sanctions.
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https://www.rt.com/business/432363-eu-dollar-trade-iran/

It's not the number of digits that is important,.. it's where you put the decimal point!!!!

Slips

So let's find out who Austrian Airlines uses for their banking facilities and open an account with them!

Txs Exp.

I've been working on a valuation model and applying various risks values etc.,

Would welcome a few views on:

1 Recovery Factor---- I'm using 40%.... which seems to me to be a reasonable assumption?
2 GSA--- using $8/scuf... as per companies own model... JP has confirmed that he is comfortable with the $7-9 guidance that the company has made public
3 I'm using the low end and mid case figures only for the resource
4 I'm applying a 90% reduction to the inferred only resource classification and a 50% reduction to the contingent resource i.e.

Let's say we get 5tcf confirmed via the drill-bit and CPR's-- and we are left with circa 15tcf inferred ( based upon mid-case being 20tcf- less the 5tcf drilled).

5tcf x 40% recovery factor= 2tcf x 50%= 1tcf..... x £1.50/tcf= £1.50
15tcf x 40% recovery factor= 6tcf x 10%= 0.6tcf..... x £1.50/tcf= £0.90

Total= £2.40/share

Don't get hung up on that price,.. just an example to show my methodology,... my model includes the resource for each drill location etc.,..... but would be grateful for comments on the 10%/50% valuation multiple for then inferred and contingents resources?

Best

.. the proof of the pudding,.. and that is about to get underway.

Just need to be patient for a few weeks.

Sit back and watch the tennis and the footie,.. and keep one eye on Sound and Coro to help pass the time. Wouldn't have thought that we'll go more than a few days without news from one of the three. Coro "deal" must be getting close.

An excellent deal which will benefit many people in the north-east. We have more certainty as to costs up to the shipment of 10M tonnes a year and this will help with the finalisation of the Stage 2 funding. It also gives a greater flexibility going forward as we ramp up production to 20M t/year in he future.

Very exciting and very positive.

As previously mentioned,... this dream isn't contingent upon obtaining Stage 2 financing,.... which suggests,.. ( as we had hoped),.. that the initial responses from the funding parties has been positive etc., All looking good for a strong year end rally in the sp IMHO

Best.

Whats not to like by a major. The only question if how far they ss us run that drilling programme before they decide they want to show their hand with a serious offer.
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Agreed,.... and who out of the big boys will be the first to show their hand. If you try to apply some logic,.... you would think that the majors who would benefit most from our recent 2d/3d survey work,.. and our acreage,... would be Shell/Repsol.

In fact, arguably, the acquisition of our survey work would de-risk some of their adjacent acreage and would add value to their existing holdings,.. which in turn would offset some of their purchase cost.

Interesting times and the clock is ticking down to TE-9.... and the GSA could land at any time,.... would be surprised if it goes much beyond end of July,..... The GSA, IMHO,... is the kicker that could be the pre-cursor to an early offer. Once the full details are known it is possible to put a price on the company which a much higher degree of certainty.

The weather is too good to wish away,.. but roll on October!

.... transformational contract signed,.. if not yet deliverable,.... EBITDA positive,...... another long term "transformational" contract imminent.......

Hostile bid territory?

a4007035,

This is way too risky and borderline gambling.

the company is a complete fraud and tries to charm its investors by promising the world and failing to deliver. Then when the S*** hits the fan the company is nowhere to be seen.

Avoid like the plague in my opinion.
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Bye then. Missing you all ready.

.. to discuss Iran sanctions.

Let's hope something constructive is achieved.

Best