Member Info for Rollthediceagain

What a shame, this started out as seemingly a well run outfit with a solid mine development plan but has turned into a crock of s##t.

Thankfully I'm not a holder now but the announced plan to delist from AIM will basically wipe out any remaining shareholder value in the stampede for the door while shares can still be traded.

Another AIM horror show for PIs.

You'll have to wait c14days for cash as previously stated in RNS.

Why will there be a selloff? Geopark have tabled a formal bid recommended by the BoD not M&P.

...and now they're not again!

SDX on ii now tradeable.

Apparently SDX's ISIN code is in the process of being changed ~ all SDX shareholdings on ii at least used a Canadian ISIN code even if bought on AIM and that's in the process of being changed to a UK one. They couldn't provide a timescale on how long that will take. In the interim it cannot be traded and will show as zero value.

SDX is no longer recognised by Interactive Investors (ii) as a tradeable share even though I hold a small quantity... any idea why? Live quotes worked fine yesterday.

More to the point how much will sp fall after the 18th?

But still sp falls! ... I thought it was pretty positive stuff.

That's my guess too. With SOU assets being a mixed bag it begs the question why proceed with either... be better of just raising the cash for the Indonesian assets. Glad I bailed tbh.

I don't think it'll stop at 4.38 which will result in open offer being a total flop. Just too many shares in issue which will act as a huge overhang. Not impressed by assets either so this is just a pump on new management IMHO.. SRON holders were sold a pup from the outset with pre-merger fields not producing the level of revenues required..Merger just adds some duff SOU fields and assets which require more cash... lots more cash so begging bowl will be out again soon enough. Sell any rise until BoD can show you something tangible that is cash generating rather than a money pit. Sorry to be so negative, I managed to cut my losses (not eradicate them!) on rise :(

Nice to see a rise but with 100s of millions of free shares & open offer @ 4.38p to follow I just don't see it sticking. I'll keep everything crossed that I'm wrong....

Just as well share is suspended... it's a pretty miserable update with production interruptions and field depletion :(

Personally I don't see this going anywhere as there'll be plenty of SOU holders who decide to offload their free SRON shares creating a huge overhang on sp coupled with the open offer keeping sp pinned back too. Those of us with higher averages will just have to hope for some revenue/exploration positives over time or take the hit.

Well that's encouraging at least.

RNS - already heavily diluted, SRON holders will be further diluted by a large placing (c320m shares) & open offer (c45.6m) @ 4.38p. With open offer @ 4.38p post-reverse takeover we're not going to see any price recovery even when it comes out of suspension. Total shares 186m (current) + 186m (SEHIL) + 200m (PVO) + 365m (placing/open offer) = 937m ~ so existing holders have been diluted down to 19.85% of shares in issue. Upside are new assets/production but these will have to be significant to see any rise in the sp imho.

Good news re: Sant Alberto but must confess I'm so hacked off with AIM companies in general that I look for what they're not telling us... in this case why wasn't current production levels for Bezzecca given when those for Sillaro were?

PVE are only selling PVO (one of their subsidiaries) and three of their exploration licences. On PVO's website they state "The Company, listed on the Australian Stock Exchange on 14 December 2004 and through its subsidiaries Northsun Italia S.p.A and Po Valley Operations Pty Ltd, holds 12 licence areas, encompassing 2,000 sq kilometers (494,200 acres). " The question is which three are part of this deal.. are they keeping the best 'in-house' and offloading their dross and their virgin exploration blocks (requiring huge sums to progress) just as many of SOU's Italian assets are? I'm failing to the feel the love for existing SRON holders her :(

SRON pays with two lots of 185m shares ~ one lot to PVE the other to SOU ~ the RNS issued by SOU is much clearer on this point. SRON RNS ~ "Under the Heads of Terms, the consideration for the acquisition of SEHIL and the PVO Option, which remain subject to, inter alia, due diligence, contract and shareholder consent, ***in each case***, would be fully satisfied through the issue of 185,907,500 new ordinary shares in Saffron Energy ("Ordinary Shares"). The consideration shares pursuant to the Acquisition is intended to be distributed directly to Sound Energy shareholders through a scheme of arrangement." SOU RNS ~ "The Consideration Shares, which would represent 50.0 per cent. of Saffron's enlarged issued ordinary share capital following completion of the Disposal and 33.3 per cent. of Saffron's enlarged issued ordinary share capital should Saffron exercise the PVO Option, would be distributed to Sound Energy shareholders through a scheme of arrangement." ~ SOU's 185m will a 1/3rd of issued capital if SRON complete the PVE(PVO) part of the deal

The deal is for Po Valley Operations Pty Limited (PVO) not Po Valley Energy (PVE)... are we sure that Gallina asset is even included as farm-in by UOG was with PVE? PVE's website states they have 14 onshore assets and 1 offshore whereas todays RNS states PVO only has 3 licences including the offshore one. Gallina is East of Bologna not SE. More details needed!!