Member Info for Shedulike

...... just sold 150,000 - Brian lost his nerve? :) That's it all gallows humour used up!

Yes Jack you would think so. I'd still be interested to hear about the gauge though. It was put there to 'monitor pressure in the well' so are they receiving information on a live basis? I guess the truth is that at any time closed period or open the Directors are going to know an awful lot more about the likely future SP than us lot.

Hi Davey, thanks but my question was more about Director trading - the gauge at TE-10 was described as 'downhole' so is it possible that Sevenoaks is receiving data from it on a live basis in which case BM would be in receipt of privileged information.

My best guess is that the BM buy has probably pushed the Director trading rules to the limit. For instance won't they be getting data relayed from the downhole pressure gauge, or can they only retrieve meaningful information when it is hauled up? Any experts about?

I agree with all of that Ozzie and have had your line of thinking confirmed, albeit guardedly from the least sensationalist of our Directors. While my opinion of them is at rock bottom due to the reward for failure I have taken some heart that at this stage of our journey to give false hope to PI's is absolutely pointless. TE-10 is possibly not an irrelevance to our final value, could that discovery yet be unlocked?

Interesting to read on page 50 about the move to RSU's for Mitchener and Traynor (restricted stock units) in Jan 2018 in order to 'better meet the LTIP objectives'. I can't claim to be fully on top of this but have found some literature on this incentive device. Now this is only what I have found on the internet but it seems they are a popular mechanism with employees because they do not have a strike price thus even if the company doesn't grow in value the RSU's still retain a worth, in other words the objective was to give them downside protection. Jan 2018 FFS - if we wondered why the downtrend was so so relentless I guess all these little indicators add up and the professionals spot these things instantly.

Ta MShrimp

I'm also extremely fearful of the dreaded contingency payments, I'd be interested to know if anyone has experience of such a deal? Like PNE I can imagine it taking an eternity for the dice to actually be rolled plus even in the event of commercial discovery could it be that they would only be paid on monetisation? I bet only those with SOU in their junior ISA's would have a realistic chance of spending a return! Maybe JP could have us all cryogenically frozen on SOU expenses?

Starting to wonder if I have asked a daft question but can anyone direct me to a page where I can officially see Brian's options? Thanks in advance.

I've been searching on the website for information on BM's options but I'm going round in circles - can anyone kindly direct me? It seems to me that if he believed 1,500,000 at 67p was achievable then why bother buying a relatively piddling 150,000. As has already been said this is still a positive and firmly boots into touch the scaremongerers saying everything from under 5p down to no buyer at all. As for whether negotiations have started, I wonder whether they're hoping for some positive data from the downhole pressure gauge before kicking off. Finally on a lighter note if you take the UT as the closing price Brian is already down on his investment, may I be the first to warmly welcome him to the club.

I think Tapper has got that about right. Crude we know you forged a special relationship with JP but continuing to talk him up in the current circumstances is bound to wind up underwater investors. If he can get folk out of this with their money intact it will probably all be forgotten about, if we go out with losses it will simply be a story of another AIM CEO transferring cash from the pocket of PI's into his own while enjoying a very jolly adventure to boot. This isn't over yet but while I was never a fan of the razmataz I did appreciate the superb communications and the hurt we're all feeling is that we believed SOU were a shining light in AIM. You have to admit that the TP was a reaction to seismic indications before the PI was brought up to speed and that the DD was a levelling up operation before the three well programme. JP's and Marco's actions while we were still in the dark were a massive betrayal to loyal shareholders and for that I think you're wrong to defend him. I've enjoyed conversing with you over the years and I suspect if we ever met you'd be added to a long list of friends I have who I wholeheartedly disagree with on politics!

Hi Jobbs I would much prefer a straight sale as I’m so sick of waiting and hoping. Wether it’s possible to negotiate a straight sale of our Tagi discovery and leads while retaining an interest in the Paleo I don’t know. We’re going to be just shy of Mooncheeses ‘calculations’ but he if he can get most LTH’s out with a modest profit he will have had our backs after all and save his reputation.

I don’t think there was ‘subterfuge’ around Badile but yes the truth about TE-8 certainly took a long time coming.I was openly critical of the showbiz even in the good times for what it’s worth now. Just hope he can finally deliver a deal that comes halfway near the hype. If it’s low ball with foggy hopes for future contingency payments then I will admit he has completely failed us.

I'll concede one thing to you R_Du_R since those distant highs the de-rampers have won this on points. It seems ever thus on AIM where those with a fetish for company destruction get their fluffing fix on a regular basis. Not sure why I'm bothering to point out the obvious but your company valuation seems to have overlooked the TE-5 horst with it's improving economics, Simon Davies seems to rate it.

Joe & Jobbs I just have a feeling we haven't heard the last from TE-10. So much to mull over about the nature of the LE. When JP first flagged it up (and I remain convinced it was cynically to corral PI shares into ISA's) it all seemed so simple - prove the asset and sell the company. Well nobody needs reminding it's been tough and I'm just beginning to come to terms with the possibility that Mooncheese's £65 per share could be unattainable. I'm very wary of contingency payments, who wants years more of hope, possibly false hope, but if that model came with a decent initial dividend then maybe it would be acceptable. Personally, I'm hoping for a straightforward deal on Tendrara and then on to Siddi. The fact that JP has apparently communicated that he wants to sell it and not drill suggests he was stitched up by the Morrocan authorities on that one, The Sidi saga was a bad deal from the great deal maker - masses of stock sold back into the market with absolutely no value realised to shareholders.

There could yet be value from TE-10. I have had an encouraging reply on whether it might be possible for the next operator to unlock the discovery. Very cautious stuff and I'm certainly not suggesting there is definitely sufficient data for significant value to be added but it has not been written off. I'm just intrigued whether if the gas is down there could a different well design move it commercially? Anyone know if there is any industry precedence for an exploration well to fail to move commercial gas but subsequent wells go on to produce commercial gas. I haven't the faintest idea but I do know it hasn't been ruled out. #clutchingatstrawsinthedesert

JP opens LE talks....

https://www.yo***be.com/watch?v=hgdKFcOssnA

Yes very odd, we're obviously valued at least between 20-30p and the evidence is there for anyone to see if they want to. The discount is due to an appaling run with the drill bit and JP's bullshit frankly. His only possible redemption in PI's eyes would be to deliver a LE near £1 but I don't believe that's possible. If the existing discovery could justify that we would all be in blissful ignorance of what a trading plan is. So my guess is best case near 50p, worst case 30p. Most LTH's like myself might still get out of this with a small profit but the big winner will be JP who has taken an absolutely extraordinary amount of money out of this company as reward for one hit and serial failure.

Oh I see you're talking about Omar I thought you meant me listening to the top spin from JP. Right must mow the lawn and try not to think about SOU.

Thanks Jack just the pick-me-up I needed :)