Expel you should stick to cutting and pasting the technical stuff that you are known for and makes you look knowledgeable. Leave the financial stuff to people who know about company accounts because you lose credibility when you post erroneous financial stuff ;o)
Yes hopefully news soon, and hope BM was correct when he said it will be finalised before end of October. I almost don’t care what the price is by LE the waiting is too painful watching all the doom sayers on here. GLA
I wouldn't worry too much about Schlum, if they have spent $70m then their share of the gas in TE5 is worth significantly more than that on its own let alone any other future discoveries in the permit areas.
Interesting Article Ducati, I like the title 'A game of musical chairs with the Anoul permit' Not sure it adds anything and it even refers to SM as an asset in Eastern Morocco so its not entirely reliable!
Come on JP and team, not much longer please, the kids need new shoes.
Thanks Partridge. I think JP thought SOU would be sold by 31 March 2019, everything has dragged on longer and less successfully than any of us would have wanted. However we still have huge average with significant proven reserves so I am sure it will be resolved with a modestly rewarding outcome.
The squabbling on here is quite boring but hopefully this won't go on much longer. BM said recently the current process would be complete before end of October so hopefully not too many weeks to wait. I'm hoping for some news during September. 50p plus. GLA
No they look like buys at that level. LSE isn't very reliable with it's buys and sells. In fact its not very reliable for most things! Director trades don't get updated it's a bit rubbish really but you get what you pay for ;o)
..a statement from Who that I can agree with! Going back to my original question, anyone know if there is a statutory timescale/notice period for calling an EGM which will be required once (if) a deal is recommended to the shareholders? Any qualified company secretaries here?
Testprick I wasn't referring to midlanders, I love the midlands and very proud to be a midlander it was the suggestion that all midlanders are yam yams that was the insult. I'm happy with my level of education thank you very much and especially with my level of literacy, posting here proves that it is a very rare skill.
PS literacy is reedin and rightin in case you were struggling ;o)
Jones I know where the black country is and I don't live there, I do however live in the country hence my confusion. Not all people in the Midlands live in the Black Country you know so please don't stereotype all midlanders with that insult. I'm sure you are correct Jones, Rothchilds won't be running the sales process in the usual way they are surely just telling bidders to make a bid via Brian anytime they feel like it. I will take my lead from an exploration director who couldn't find a virgin in a convent and a poster who thinks the black country is 'Anywhere in the middle bit'
Agree Maldini. I don't think BM is as hapless as he pretends. I think his email was approved by JP as a way of providing an update. JP probably didn't expect that even this would be used to give a negative spin! I still think deadline for offers is probably end of this month. If the deadline had passed and no offers had been received I think they would be obliged to RNS this information by now.
No Jones its not the same. By saying 'it is telling that after ....' you are implying that there would be an expectation of offers at this stage which is not the case. That aside the more I think about what BM did say the more I think he over stepped the mark. By telling us that there were 10 interested parties I think he has given away price sensitive information (whether this was accidental or on purpose who knows) I am pretty sure the NDAs signed by all parties would include a confidentiality clause which would guarantee anonymity to IPs by telling us that 10 IPs went to presentations he is breaking that. I am sure the industry players know who might be interested by saying there were 10 will give them all a good idea of who the competition are. I have been running a sale process for a much smaller entity than SOU (although some of the IP have market Caps similar to Sou) and confidentiality is key, there is no way we would share the number of IP with anyone.
Jones, this is very clearly NOT what BM said. BM said it remains to be seen if this solicits any offers. The implication is that the deadline for offers has not yet been reached. No one in business in a competitive environment would submit an offer before the deadline, anything could happen before the deadline. There will be a deadline for offers (say midday 30th August) and i very much doubt any offers would be submitted before the morning of the 30th. Certainly if they were I doubt Rothchilds would tell BM, he has proven to be a very leaky vessel.