Member Info for Shedulike

Apologies if this has already been commented upon but it appears virtually all of 2017 has been deleted from Twitter. Probably an acknowledgement that this was the period of peak b*lls&*%t. Has anyone been able to endure the 'classic lines' link posted below for longer than me? I managed about 30's before starting to wretch up, perhaps we could recycle the SOU Energy Investor Relations trophy to whoever can survive the longest?

The only thing missing was people running up to the front to be healed, if Billy Graham was still with us he'd have to up his game to match that performance. It should definitely be restored to the WWW if only to haunt JP forever and warn AIM investors that even the better run companies are prone to the most outrageous hyperbole.

If there is a crumbliest, crumbling crumb of comfort there does seem to be a daily pattern in which amongst the sea of selling the biggest trade of the day is a buy.

What's a couple of weeks here and there hey Boder? Also what's the chances the time it takes to get the company sold is directly proportional to the remaining wages pot?

Well we can certainly do without Marco - I always thought there was a strong case that he should have gone after the Continental Distribution, aren't Directors (even non-exec's) supposed to act in shareholders interests? If the LE offer is awful I would prefer a fundraising to continue exploration though, call me Mr Picky, I think I'd go without the current team. Wonder if Luca would come out of retirement?

wh0s we were unable to flow commercial gas via the exploration well we drilled. That doesn't mean another well design could yet unlock it - I have had as much confirmed by the company but if we can attach any value to that at LE I don't know.

Every post on the SOU board discussing the position of the company after JP has declared monetising it is effectively speculating what we could be worth - are you calling for a complete absence of humour Longwait? Anyone that thinks anything said here has a bearing on the real negotiations has delusions of grandeur - if I believed that I'd be spouting no PI will accept less than £1 per share 1000 times a day, no it wouldn't make a blind bit of difference. Our fate is in the hands of Directors already enriched by this adventure, and in-country interests that are probably not aligned with UK shareholders.

Oh for goodness sake Longwait I was joking, you might have spotted that given my -15p prediction after applying the JP bu*l%sh$t discount. Having said that "Many a true word hath been spoken in jest", worryingly....

Yes if you apply the JP top-spin to reality discount 15p a share is highly optimistic, -15p more likely :)

.... was shortlived. Talk about 'you have to laugh or you'd cry', the only thing he did for the SP in three years was to buy a miserable 150,000 shares and that has petered out already.

The companies performance has been so miserable for years that even if it's 15p plus contingency payments it's a cracking investment for new money at these levels but an absolute royal shafting for LTH's, and they took those pay rises (I don't believe the stuff about remuneration committees deciding independently, does anyone believe they didn't just get what they asked for?).

Yeah I haven't thought about that for a while, maybe the CP thing isn't inevitable but with sentiment what it is we're all just assuming the worst will happen. In the dreary Malcy / DH chat I think I heard Malcy mention 'consortium' if he is a conduit for JP that could have been dripped in deliberately, or perhaps that's just a bit too cloak and dagger. I'd be worried if there isn't a big player that wants it for themselves. I'm starting to feel physically sick about this, since TE-8 the market has always known SOU's failure's before PI's get the bombshell.

Agree with Jack and Medi, LTH's are mostly battle weary and just want the best possible price for an end to this. If that is a derisory figure then I guess we have no choice but take the CP option but that would be total failure of management. Great for the Director's engorged of the cash cow SOU, they have already 'monetised' the assets directly into their bank accounts. It's time for the dealmaker to return something to shareholders not sell us more 'Dreams in the Desert'.

I suspect it will be to explain, and give the big sell to contingency payments. I'm not against them entirely if there is a decent payment at LE but if it's a way of JP wriggling out of failing to monetise our assets then I'll be furious. From the Directors point of view it's an attractive way to keep a stake in the paleozoic but SOU has already made them filthy rich. If the fixed payment at LE leaves long term holders underwater with only hope in the future drilling success of another entity then the last three years in Morocco have been worse than a complete waste of time for PI's.

Surely folk don't honestly think JP will give any reassurances around a LE price, do they? You're just going to get can't discuss 'price sensitive information' etc etc. Of course that is contrary to the CEO's penchant for making outlandish claims at investor events where different rules seem to have applied but hey ho.

I've always really liked Malcy and completely believed in his integrity but the slightly uncomfortable defence of JP with DH without referencing legitimate shareholder grievances smacked of the privileged few circling the wagons. I wouldn't make any allegations here but I know Winniforth (who by the way I don't trust at all) regularly accuses him of being a paid ramper (I'm not accusing him of that). Again I'm NOT making accusations but I'm very surprised Malcy hasn't taken any legal action as his reputation must surely be everything to him. He's also nailed his colours to the FRR mast and it's far from certain where that riddle is going to end up.

Crude you have to admit it doesn't look great. The evidence of the remuneration arrangement including BM and JJ getting RSU's rather than options (downside protection) suggests that it's 50p tops, and I'm including in that a hope that there could be a possibility that the discovery at TE-10 could yet deliver value if a different well design could unlock the gas. I can hardly bare to countenance a low ball offer with contingency payments kicking our dented dreams yet further down the road. Everything depends on there being multiple rivals for our assets, if not we have no more cards to play. Terrible situation when the team continue to rake it in while our only prayer for a profit is to increase our exposure to an enterprise that has already failed to deliver even a fraction of what was promised ('10TCF won't cut it').

I think most have accepted the risk of drilling but the hurt primarily comes from the deviousness of the Directors who acted on information that shareholders were not privy to. Not just the TP, or Marco feeding the five thousand but the outrageous salary increases when they feared not hitting their options. The remuneration committee obviously just gave them what they wanted and didn't represent the shareholders' interests, we couldn't afford the extra reward for failure as evidenced by the non-deliverance of three wells. Appalling.

I know Jack, I hated it from the moment it was first discussed - sounds like an escape route for JP and has a horrible feeling of inevitability about it.

Brian averaging down? :)