Member Info for Shedulike

Ding I don't want to be rewarded over time, after years of investment I've done my time. JP said years ago (I think on a CC) words to the effect that he could sell the company tomorrow for an 'interesting price'. I haven't hung in here since then with the promise of a LE with the stated preferred complete sale only to find that the seeds of a contingent sale seem to have been spread at the BB event. I'm hoping this option is gaining legs purely because the team have to play their cards close to their chests so wouldn't rule it out but I still favour maximising what we can achieve now (so much dependent on TE10 of course) rather than some complex deal. Say NO to 'LE Light'! :)

Fair enough T10Boom I'd just like to know. I try to ration my emails to company but will ask for guidance on this. By the way you've stuck your neck out with the handle, if TE-10 is uncommercial you'll have to cancel your account and come back as T-10Doom!

T10 - I think there are two themes on this thread, my concern is not a small slippage in the guidance but I'm just anticipating fevered speculation if they don't make it clear whether or not we're going to have the unstimulated flow announced. Makes no difference to the endgame just don't want to give the derampers the opportunity if they don't turn up despite expectations.

Yes Shpunken it usually does but my point is I think it could be damaging if it's open to debate - as you said 'if the results are good JP wouldn't want to withhold that info', so potential for speculation if he doesn't. He may have to as it's price sensitive but this is cloak and dagger time now and they may not want to. Just think it should be cleared up and not open to conjecture.

Wasn't it reported that he said 'next week' at the BB event so anytime this week to get started. It would be breaking a SOU tradition if we didn't miss the timescales so perhaps unstimulated very early in April. One thing I'd like is a definitive steer on whether we are expecting those results to be announced before moving to the stimulation. If it is unclear as we reach April and we hear nothing the uncertainty will be ruthlessly exploited by the game players - 'they don't want to release them because'... etc etc.

Interesting Crude so much rests on TE-10 and thankfully the vibes seem to be good. Bill I have never claimed any level of expertise in this field but logic always suggested to me that although a complete takeover of operations to SLB might have once appeared a neat transition (stop it) but would actually be fraught with complexity. I think you at least acknowledge where I'm coming from on TE-10 / 11 and I agree investors will have a chance to de-risk if they wish to do so in the scenario that TE-10 delivers success and yet we still plough on with TE-11.

Hi Billfish I'm not sure if you're suggesting that I'm in that camp or not but just for clarity I'm not of the opinion that we shouldn't drill TE-11 because of investor jitters. I just feel that if TE-10 comes in it could be the prudent time to hand over to the bigger player (interesting that Crude has gleaned that won't be Schlumberger - always looked like a complex proposition). As I speculated earlier the TE-11 target could serve us better as a carrot, doesn't mean we won't derive huge value from it. Completely agree with your point that in the event of TE-10 being a 'good deal' many of us could 'vote leave' with all or part of our investments even if SOU seek an extension to drill TE-11. I'm losing my voice now thank goodness...

Is there someone you can talk to Duster?

This shall we shan't we debate over TE-11 seems to be causing a lot of controversy and causing division in the SOU shareholder base, some investors have even said from very hurtful things. Well I've had a brilliant idea, to solve the problem definitively and categorically, once and for all, we simply have to do is put it to the vote, I think it's called a referendum.

Not deliberately winding people up (though some don't need much encouragement) but I don't think we'll drill TE-11 now for a number of reasons. The one that I haven't seen much discussion on recently is that our suitor will want running room of their own, TE-11 could serve us best as a blimmin big carrot. To mix metaphors and twist the Goldilocks analagy to breaking point our suitors will want plenty of porridge left to find of their own. Remember there will be a high chance of failure and at the rate we're going we could be pushing towards Q4 by the time we've established that.

Oh heck, Shaun has sent the white feather to Joe again! Perhaps I can draw some fire, put simply if TE-10 testing proves a commercial well and a decent price can be achieved for the whole dam shooting match then let's cash in our chips. I know there will be some LTH's that will lament that we haven't adequately targetted the Paleozoic and some newcomers who aren't suffering the battle fatigue that many of us are but I think Trellis raises some awkward questions, particularly where these delays will leave our cash balance if we plan to drill TE-11. Personally I strongly believe that if after testing TE-10 the board can offer shareholders a deal above our historic high then they have a moral duty to put it to shareholders. This has to be wrapped up before we hit funding issues or the interests of our handsomely paid team will diverge dramatically from that of the shareholders who will no doubt be facing dilution of the licence or their equity.

Thanks Silkster - good to hear that Brian is confident about TE-10. Surprised he's 'perplexed' about investors analysing RNS's to the nth degree though. There again he's looking at matters from a very different perspective to investors but I won't re-open old wounds!

So unless we didn't have the 'management bandwith' to complete the permit application - they've been economical with the truth to put it kindly. I'm open to any plausible explanations but on the face of it this is pretty shocking isn't it?

Wh0sthe - I think you make a fair point but obviously there won't be an announcement that should be RNS'd but it's simply inevitable that in conversation snippets will be gleaned that are of interest to all of us. Nothing sinister just a fact of life and it would be almost impossible for the team to comment on anything without divulging information in the form of tone, confidence etc. That's why I wish I was going.

MTT anyone who believes that hasn't been following this board in the last 8 months. I'm not going (have to earn a crust in the real world) but I don't believe it's a waste of time at all. In the past we would have had a Tweet of the big guns arriving by now and how about a corny Terminator hashtag #Letmetrymine. Today is going to be all about nuance and could be all the more revealing for it. Rather than crowing about the inevitable absence of new official news I'll just reiterate that any feedback will be much appreciated.

Agreed Jack - will be interesting to see if expectations get massaged in that direction at the event. I think it would go down like a lead balloon, I'm sure most of us have hung in here for JP's declared preferred option - the complete company sale.

Interesting Yogurt - I wonder how many of us are in exactly that position?

I suppose for balance the proven discovery does underpin us at some level but I fear if that was sheared off any special dividend could be derisory as we'll need funding to continue exploration beyond TE-11. Also reading my last post / moan I acknowledge that loading the children's ISA's is in fact a recommendation to family and friends so silly me!

Very drole DM. On a serious note Amy spend 48 hours reminding yourself that most investors here are down on their investment and you could lose every penny you put in. I'm still confident that this will come good but even in the heady days I never recommended it to family or friends and never would. Much of my angst with the SOU team which bubbles over on here from time to time is due to the fact I loaded the children's ISAs just before news of the TP, subsequent drip drip about the seismic, the DD bombshell and so on. While we were being fed hero shots of the seismic trucks doing their thing on Twitter JP was privately losing his nerve and chose to reduce his holding. TE-10 could be our saviour but there is a tiny part of me unsettled by the delays however credible the reasoning. Remember you could lose eveything, apart from that small detail all's good here.

I do think the radio silence suggests that something else is coming. The likelihood is it's funding, just hope it's an encouraging partnership or something innovative that rubber stamps the asset. If it's the crack cocaine of AIM an equity raise then I'll be fuming. The market seems to be betting on the latter.