Member Info for pijoe1212

I live in a very nice part of the Cotswolds😀. This weekend is supervising a nice bunch of Latvia’s installing new kitchen and bathroom’s at the bosses house. You ( and mrs sipp) are welcome to join us any evening..

sipp ..i can not do sat close to you..but can accommodate close to me..ciren area any good to you..you and mrs sipp..good local pub (rated).. for food and drink..i will let you choose the room (colour!).. as a few posters on here know..i have a small semi bungalow (AKA tardis) ....you and mrs sipp would be welcome (and i mean that seriously). ak will give you the number

i respect your posting on here and elsewhere..could i politely just ask you to question yourself? perhaps question confirmation bias? a hint only not an instruction - it is far from it!

i know you did not sell in the 60's!!! i did !! and you lambasted me for doing so...i talk in riddles my foot..

i would be happy for you to buy me a beer any time..

only asking..as flow tests involve oil production? did in my day....

call made...kath want to know if you want the red or the blue bedding in the green room or the white room for your stay...are we inviting keyser soze at the same time? hes having the red room..LOL

agadem

i would put to you he is closer to a larger co ..and large cap co equals bigger sal and bigger share options..sorry but fact.. just look at the changes to his share options this year...i consider he has no respect to shareholders (and i KNOW i am not the only one to think that)..we will see.. meanwhile to be clear i remain out..but good luck all

your posting has gone down hill (again)..sorry but it has. i have asked you elsewhere to stop this war against ricfle. he makes valid points, but looks to me like you can not see this.

i would tell you the same by pm or face to face..

as for "margin call" ...what do you know about this? i was approved last week via a co as a "semi - pro" to spreadbet (now ask yourself why i got this approval) ..as i have declared i use this to protect illiquid positions for short duration). so *ucking what!!? you want to start asking me about margins? crack on mate...

sorry correction- missdosh did apologise so i exclude her from the heard mentality.

I fail to understand is the continued assertion by the ship-watchers that despite 11 days elapsing they are somehow correct.
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i agree with the thrust of your point, but you know and i know (and the rest of the non-SOB readers of this bb know) no apology will be forth coming.

confirmation bias will ensure that the posts defending the situation will carry far more weight than your view or anyone else (including mine).

it does have some quality posters who contribute valid and useful comments...it has degenerated a few times however..but dont let any post(s) put you off making money - that would be bonkers!

wellwell...i dont hold a grudge..i use it to illustrate just how bad things were on this BB...its history..

i took a view on the likely cos and the target size and the time-frame to monitise. on that basis the mcap looked to have upside if my view of the cos was correct..

i would suggest if you split out the niger bit and had a "clean" balance sheet (as it would have had without 7e), then the actual or possible farmout would have taken the mcap higher (for good reason) as everything else has gone as well as anyone could have expected in niger. in the current situation..who would enter a farmout deal with savp at this point in time? i would not say it can not happen, but the balance sheet exposure of savp would put off many.

so in other words i see the 7e deal as being a negative drag on the sp compared to where it would have been..(as posted "value accretive my *rse"..over a 12 month period it has been shareholder value destructive)..

last post to you..

that is one of the more bonkers posts of the day (and does it have stiff completion today!)....in fact i can think of a comp i can enter it into..

whats wrong with bell end?

it was at times not much fun..of course a respected poster (dierich) was murdered in the process (by the ******* in the lounge with a leadpipe)...but it did not stop me making investment decisions based on my reading of the situation. the confirmation bias however prevented others from seeing things in a rounded way and considering why i held the views i did..and that is why SOB is in my view dangerous to its members far more than to those outside

it is interesting how this BB should (in my view) evolve..there was a time when the shipwatchers were incredibly useful (heads up on drill movements before RNS's) which helped me make money..even with the potential to watch the AM transit and the shuttle tankers..i see little value in ship watching now...however the skill set and insites have value..just not with hur anymore. one can look at cos like rbd and char for example were in the not too distant future one can see the same "headsup" as having value. but it does not worry me to see the watching here. but the collective expertise here is far more than shipwatching....

i think you lasted longer than i did after being invited by someone other than sipp...38mins!

this BB has polarised into SOB's and non-SOB's and it does no harm to air that fact for the "drop in readers".

i do not recall often agreeing with you in the past....but i do now!

the afren refinancing was not a con job ( the fraud the year before was and so was the production and ops data coming from nigeria during the attempted re-finance!).

some times debt to equity can provide opportunity. for example the gkp one was a classic..it was clear the debt to equity swap would be made and i "bet" £50 it would happen and provide opportunity to buy in an open offer. it did and i bought c.£10K worth at the excess applications offer price additional to the c£20 i was entitled to and flogged them 2 weeks later for 35% profit...

clearly what i see here is a reduced mcap and more importantly niger success over the last 6 months...so the risks are starting to swing back towards more positive...but i value niger currently at about $130M (say £100M)...compared to the current mcap of £219M...but what damage will the 7e deal do to the balance sheet if it does not close? it will be interesting (!) how the accounts are arranged if the next interims are with the deal not closed...

miti. i did post about the bondholders..i also posted the deal structure was very much like the failed afren deal (same advisers as this deal). i sat in meetings with the afren bondholder reps and knew what they planned to do in that situation and why.... the bondholders had two choices in this case (as they did with afren) - do this deal and get equity to sell or nothing (7E was bust!). (i worked closely with the II's on the afren deal so obtained exposure shall we say to how they think and how bondholders think and the constraints etc they work to. i maintain a number of the relationships made which can be very useful!). so i did post this deal was rollocks for shareholders at that time for good reason. the point is the bondholders had nothing or savp equity there has not been a 3rd option!..i did work out the breakeven costs to the bondholders (back to par) but can not recall what it was..but that is frankly not relevant...anything is better than nothing to a large number of them...and many would have bought the debt at far below par (i think from memory it was trading at 40 cents to the dollar?)