Member Info for Shedulike

I don't think Crude doing well out of SOU is a crime, wish I'd sold a chunk in the 80's but I believed the hype from JP. For that reason I agree that 'our dynamic leader' is a little irritating in the current climate but maybe, just maybe he could prove himself yet. In typical JP style he has declared the marketing environment his strength and tells us we should be excited, well okay let's have it then. In my opinion, he is vindicated if he gets everyone out with a profit and I don't mean everyone that's averaged down and overexposed like me, but everyone even if they own one share from Sep 2016. Only then will the hyperbole be excusable, and the use of 'excited' justifiable. Not holding my breath though.

I wouldn't put it past JP to offer us magic beans at the LE.

Jack I don't believe it is a fact that the plug has been pulled at all. We obviously went over budget on TE-10 with the delays and equipment and I think they feared going to the wire on funds if we went ahead with TE-11. Selling it as part of our package of prospects was unfortunately the prudent thing to do. I understand how you feel though, guess it will always be a 'what if' now.

I'd be interested if there was a route with non-dilutive funding perhaps to drill the appraisal well at TE-10 and exploration at TE-11. Of course I am making the massive assumption that the data from TE-10 really does suggest this is a possibility and it's not just more spin. Frankly though if we could exit around 50p and get this over with I'd take that.

It does feel like the ducks are at last starting to line up here. The millstone of IRC finally looking up and POX producing at long last. Hopefully investors who helped save the company with that 5p raise all those years ago will now be rewarded. I do think for balance we will continue to suffer with the 'Russian discount' which is understandable but with a bit of help from the gold price we could be flying very soon.

..... I know the question process was scheduled to close at noon but the flow of Q&A's looks like they are answering live questions, though there is no question box on my browser. Anyone able to put questions through?

He's cautiously saying the opposite - keep trying it's fun.

Hmmm seems to be an awful lot of willful misunderstanding going on today, I think some people have had a dart of riding the wave of the usual FSC drop. He's just making the point that the company isn't simply up for sale but that they are marketing the assets which we already knew.

Interesting - confirmation from Brian that the Te-10 discovery could still justify an appraisal well. So just because he exploration well didn't flow commercially doesn't mean the discovery is irrelevant - that's a big positive for me.

Can't see anything new - perhaps they've legged it.

Well there's a first for everything, but as has already been said we always anticipate some great significance behind these events only to be disappointed. Logically if there was meaningful news tomorrow it would make a mockery of the question gathering process today as most of them would be defunct in the context of our updated position. Expect plenty of expectation management, references to high-risk exploration and so on.

I really don't know what to think Jez, to say the least JP does have 'form' with these apparently positive soundbites. I'd like to think that now we're in the sales process coupled with the fact these were pre-prepared statements they must carry considerable weight. I'm also a little non-plussed about what the CC is for since we can't discuss the elephant in the room, hope it's not 'DD The Sequel' ie. We did tell you getting gas out of the Tagi was the hardest job in world.

Just catching up on events today so I'm sure it's been discussed but the 'exciting times' comment is interesting. I know we've been here before.... 'no way they would say that if....', okay we've been here thousands of times before but wouldn't that be an incredibly crass comment unless he can get everyone out with at least their investment returned?

Fair enough but we were told a lot of other stuff as well. I've decided to suspend final judgement until we see the deal, only then will we know if they 'had PI's backs' all along. Morally I believe for JP to be vindicated he has to deliver on the 'nobody will lose at...' comment. That is clearly impossible so it's a case of in which circle of AIM hell his legacy will be immortalised.

Unless we have been badly advised by the legal team it does look like the whole thing has been about buying time and getting Hope off the board. The judge will know that and will be highly irritated that his time has been occupied by these manoeuvrings hence his terse comments. If the indications are correct and we have been selling oil and also gas into the domestic market and we are indeed solvent then perhaps we're nearing the end of this debacle. I do worry that we could have trouble finding a new Nomad though given all the revelations though.

Quite agree Partridge though I would go further than saying it would have just been a gesture. When the increases came in they must have known the pot was tight on delivering on three wells, remember we saved money on TE-9 due to it being an outright duster so the failure to deliver the three wells was incompetent partly due to greed. The natural little man subservience of anyone suggesting its ridiculous to think any Directors would countenance pay cuts is shot down in flames by the example I cited. Take a look a RSW who generate huge profits, employ 1000's all around the world but did the right thing when the pressure came on in the last recession - morality does exist in companies infinitely more successful than SOU with Directors infinitely more talented than SOU so don't tell me otherwise SG47 - "£2.50 at LE at least" what a twit!

Yep they've engineered a win-win situation for Directors as ever. Slightly nauseated by JJ's crocodile tears while referring to losing staff in the cuts. There is a FTSE 250 engineering company near me who applied a flat % wage cut across every employee when the last recession hit so that the cuts were equitable. These characters have given not an inch in the face of their own failure's. Before anyone asks why I'm still here it's because I'm confident the LE will payout well above these levels, thanks to Luca taking JP's hand and leading him to the TE-5 horst, everything after that complete and utter failure. Years of delivering decreasing value to shareholders while increasing their own remuneration how anyone can defend these people is beyond me.

I almost choked when Malcy referenced shareholders wanting to follow our talent into future projects but on the sale process he finished with "I'm sure people will be pleasantly surprised", a couple of years ago that would have been reassuring now, not so much.

Nice misquote Shaun, honestly don't want a slanging match but your infamous shareprice predictions haven't had a very positive effect to date.

I think we're paying horribly for all of JP's historical spin. Logically we should be pinned around 25p with any more value based on what running room a buyer can see in our acreage. Problem is the market doesn't trust the company statements and there must be fear for all of us that there could be another bombshell coming before or during the FSC. Again going back to the logic of the 27p figure this should be an amazing opportunity to average down but I honestly don't know what to think anymore. I've said it before with this company but since our peak after TE-7 the market has consistently anticipated or even been uncannily aware of every single sodding failure with LT believers belatedly brought up to speed. Sorry I can't muster any positivity folks.