Member Info for Ponkey

I can be accused of lots of things on this BB...cars..filtering...flipant comments but hopefully deliberately misleading or lying is not one of them.

From James 25th Sept on a question I posed re-delays:
Hello xxx
We are not awaiting any permits / permission or anything to be honest.

We had some minor delays with the weather (rain caused serious flooding - I’ll forward the video so you have a sense for it). But we are nearly there. Nothing to worry about and actually this week TE10 ground works also began.
James

Marvellous research....does it have any relevance to us finding gas.......err I don’t think so. Binned not because you are not a disciple but because reading all your other posts you add nothing of substance.

Hi Joe, I have never pretended to be a geologist...daughter is....but when i last spoke to BM he suggested that (from memory) that whilst they are going for the P after tagi with TE9 that the cos is obviously reduced due to less info available however the cos for Tagi was of course much better.I think we are perhaps in danger of getting ahead of ourselves yes a huge P find will be as I understand it the holy grail the aim is to prove up the T5 horst which a good tagi find will hopefully succeed in doing.I think and guessing here shell/repsol are interested to P in their area as perhaps they know the tagi in their license is not so (potentially) bountiful.
I would like to add as a footnote to my previous post that I have refrained from mentioning o&g is a risk or people should grow a pair etc etc as each and everyones investment is important and quite rightly people should be concerned but perhaps not to the extent of unneccessay vitriol against all and sundry. The fact that i am above water is not rubbing any salt in anyones wounds just a fact but it still doesn't make me exempt from having my own concerns and worry's.

Firstly a belated thanks to all those who posted back on DD.
I am amazed,saddened but not surprised at some of the personal comments being aimed at JP and the BOD. I absolutely sympathise and feel sorry for those PI's who are currently underwater with the current sp and yes while i consider myself lucky that having been invested since Jan 2010 I am still in a healthy profit and in fact now have a free carry it does not stop me feeling mightly pissed off at the current sp level and YES I find myself looking for someone to blame ...but not myself. No one forced me not to close my position at my original target of £1 and to feel upset now is just back trading.I do believe that SOU and JP have made some grave misjudgements on the PR side and in hindsight the Gherkin and sailing with Sound have-so far-turned out to be in hindsight mistakes but I do not think for one minute that they were malious in nature or deliberate in some devious plan to mislead Pi's rather than hubris and over enthusiasim BUT again in hindsight unfortunate. I have not been to any of the events but have on various occassions gone to the offices in Sevenoaks for discussions which I have always found to be helpful and informative in helping me with my understanding of my investment here. on this point I would like to stress that I do not believe JP to be some sort of demigod and have always arrived and left these visits with my eyes open. I DO however believe that all those who I have met and spoken to face to face to be genuine in their desire to make SOU succeed and are working with best endeavours to make this happen.
So why the sp demise and massive loss of confidence in some quarters? Well in my take it is self-fullfilling the sp drops peeps panic/stop losses get triggered people look for conspiracy theories . But have things changed-I don't think so-JP's trading plan was always going to rear it's ugly head but I believe it is the most transparent way for him as CEO to manage is affairs. Deep Dive surely we all knew the relativity between us and Algeria-just don't like being reminded-timescales YES unfortunate but at the end of the day unless someone came to buy us pre-drill (something I thought might happen) it was always going to come down to these next drills and therefore here we are now,stay or leave that is all our choices. I firmly believe,which is why I am holding, that the BOD have done everything in their powers to make TE9 be a success, don't forget N2 when the sp went down from 24 to 13 I think and look where it recovered from and don't forget that without JP taking the reins back in the Indonesia days we wouldn't be having any discussion as there would not be a SOU. Skin in the game or not I do not believe that JP or BM are deliberately out to shaft "us" why would they. Anyway just my ramblings GL with whatever you all decide.

oh he's not binned in my book just shredded, packed down and spread as compost on next years rapeseed fields....thats my equivalent of binned/filtered and room 101.

Dont worry StMary taking my dogs out now....only because I bought 20k at 35 today.....or was it 35.98!!! like someone else 35 seemed 35 a good price but jumped the gun.....misery loves company....

sorry wrong seller that was 375000 the 371250 re appeared on L2 give up second guessing these big trades.....

yup he's gone ...sold at 38.26-lol

Thanks TM lets hope the 371250 seller@38.5 does.......go that is!

Sad

I have this rather pessimistic feeling about this presentation, not that it won't be good but that it potentially sets us up for an almighty fall if TE9 goes petong. Thinking about it if we speak about what seismic is showing and how good it is and if TE9 doesn't deliver then who is going to believe any of our other seismic?? unless of course this presentation is aimed at any interested buyers basically saying this is your last chance to try and buy us before it's too late as once we start drilling all bets are off. Seems a s...or bust play to me but as we all have agreed none of us know the bigger picture and what is going on behind the scenes.

Nope sdx buying eygptian assets from BP

thanks Riddlers saw that . just a bit peeved off at mo by slippage.....still think "Sound" won't drill but I'm sounding like a stuck record-lol

I have long been a great supporter of this company and the BOD but along with a few others here i now share their frustration. Sure this is O&G and delays happen and yes probably lots going on in the background but an update of some sort or another would be nice and primarily I am refering to where the b...y hell the rig has got too?? Also sure GSA maybe part of a bigger (secretive picture) and I get that but has Sidi become so irrelevant that it no longer gets a look in?
Of course JP can do what he likes with his life and business interests and forward planning is prudent but it just seems that the timing/slightly under the counter way it is happening is bound to raise eyebrows to say the least.
As a final point as far as I can see the only person who has successfully "washed,rinsed and repeated" is marco and his mates and to an extent JP.

Personally had all the drilling I can take after countless years! Anything over £2.5 and the Rig convoy can turn left into the Atlantic for all I care.

IMO OGIF selling would be complete madness. Yes in effect they are a trading/investing organisation and as such exist to make money but they are also closely aligned to The Moroccan royal family and theerfore share some common interests. Be that as maybe if you think logically, if OGIF for whatever reason tried to offload in this current climate( i.e. no spud yet or gsa or offer) they would crucify the share price and lock in a very healthy loss-if indeed they could get out of their position. personally I am as hacked off as most other people with the inertia/lack of momentum currently existing but after nearly 9 years whats another few months as again IMO T9 either makes or breaks us in terms of getting a decent offer from here........oh sure we still got t10/t11 tforever.......

personally I think this is hugely significant, in the grand scale of things. Why? well imo we all know Sound is not going to "produce" any gas and therefore the powers that be who have signed this agreement must be aware/have knowledge of/ be instrumental in agreeing too( take your pick) a potential buyer already lined up. For my own selfish reasons I say sod the drill, flog the company and give me £3 and I will be as happy as Larry. Also don't forget that all brian's hype that it's as good as it gets is just as much for a potential buyers ears as ours. I seem to remember a conversation I had where JP said to me the same thing about Badile....just saying.

All Durham posters,much appreciated.TVM

gemell1 for sure and if successful that route would bring us the best price.However JP has said more than once that it is not in his control when/if a buyer wishes to make an offer hostile or not.if you reverse your train of thought you would like to drill all 3 wells.why?? because if successful we would get a better price. Ergo a potential buyer who is prepared to take a gamble ( as indeed we are but hopefully we believe we know what we are doing) will want to take control of us with paying as little as possible..I.E after one drill or indeed prior to that.That is why it is such a delicate game of poker at the moment(imho-again) but it is not totally in our/JP's hands though I have said all along all 3 wells will be drilled but in whose name....