Member Info for Shedulike

Thanks Jack but I'm crying inside! Who'd have thought in Jan 17 when we had the TE-7 extended well test that they'd fail to deliver one significant SP enhancing bit of news in almost two years.Yes the FEED was undoubtedly good news but the market doesn't seem to believe in anything here at SOU anymore. I do think we're paying a heavy price for all the showbiz, feels like the party's over and everyone's scared of being the last one left holding the broom.

Just heard Brian's going to try turning the seismic computer off and back on again.

Silkster some of the investors voicing concerns have been here for years so give your 'get rich quick brigade' thing a rest. Did you join to get less wealthy slowly? If you did well played. For what it's worth I have a strong conviction that human endeavour will find a way out of this but nothing will convince me that Brian seemed in control of things yesterday. JP referenced the contents of his own inbox and maybe Brian's was worse to this could have hit him hard, add to that tiredness and disappointment and I'll forgive him the irritability. 'Beware the Quiet Man', that could go either way though!

Yes I had a bit of a giggle about that, definitely tetchy Brian today 'I realise that not many of you understand the science behind this', I'm making my Dunce's hat right now, but I'll warn you now BM one more duster and I'm going down to Sevenoaks to put it on you.

Yes and he keeps referring back to the DD in a 'we told you so' sort of way which to be fair they did. This only strengthens my view that the DD was held because they felt they had to come clean about our prospects, unfortunately the damage was already done with the TP and LTH's were already to an extent locked in. I do appreciate the board fronting up but my confidence is actually slightly lower. Of course there's no point selling us the dream, they did that years ago and it wouldn't wash now but honestly Brian couldn't muster a crumb of comfort re. the seismic, but if that's how it is.....

I think the market might like this:

"Given that investors are feeling increasingly risk adverse - would you now you feel it was your duty to put an approach before shareholders if it came before TE-10? Thank you".

JP "I understand what you mean. When the time is right we will".

Only one of mine has - I must admit Brian does seem rather prickly!

Yay they answered it at last. I think that's why you see people appearing to ask the same question, they can go back to old questions they've missed and bring them to the front.

.... definitely heating up!

I know I just hope it was badly worded - from what Brian is saying it sounds like there was no point doing the seismic as it doesn't tell us anything without drilling! Suppose it gave them something to look at and justify their existence and salaries for a year. I've given up trying to get a simple question answered so I'm venting my spleen on here.

.... getting completely ignored?

Bobsnest it read that way to me from memory but I should have checked back as I was referencing you - apologies. Anyway my general point remains the same, trust you noted the post wasn't designed as a personal attack?

This is not a personal attack but Bobsnest also stated yesterday that he gleaned on the Morocco trip that the TE-9 location was moved from it's original location because of fears of water problems. On the strength of these doubts he de-risked before the results. Was this in the DD? I don't think so and far too painful to go back through it so information acquired outside the public domain which lead to a wise investment decision. Am I annoyed? Well not really, it's hardly surprising that on a hospitality jolly that snippets will slip out so I say fair play to those that went and did a bit of snouting. For balance, of course it's not 100% ethical that those that can make these trips can cosy up and glean inside info but in the real world was it ever thus and I'm certainly not going to hold it against the individuals that were out there on the ground using their nouse.

Riddlers I think you've been around for a while so I value your opinion but I can't resist saying that's a lot of ranting and raving for someone who doesn't advocate ranting and raving. You also can't and blame PI's for being emotional, our dear leader likes to refer to his passion and instincts as an explorer, his presentations were all about appealing to imagination and ambition so to call out PI's for being emotional is unfair. Genuinely not trying to undermine your opinion just standing up for the more impassioned posters. Best, Shed.

Agreed Joe with the benefit of hindsight the LE was dangled way too far out, not too mention the infamous 12-18 months. Shame I'm going to miss all but the first 15 minutes but I'd like to see some humility from JP tomorrow. If he's genuinely acting in shareholders interests it's all about getting this away for as near to our historic high as possible and as soon as possible.

Longwait you say the damage is already done so do you think failure at TE-10 is priced in? I think we'd be in a whole new world of pain if Brian achieves a double brace! :)

Yes that's possible, particularly after the 'as good as gets' didn't come in. The odds are moving against the PI and I want to press for our right to know where we stand on what we have, only then will the PI know if we should we fold our hand now. I'm surprised there hasn't been more noise about this or does everyone think it's fantasy that we're worth a significant figure as we stand?

I'd be interested to gauge opinion on the case for putting the 'For Sale' sign up now and what sort of ballpark we'd be in? I'd like to know what the 'interesting price' that JP mentioned before is, or was, and whether it's now history. I think increasingly risk-averse PI's have a right to know what we could possibly go for 'tomorrow' and does the board given the failures with the drill bit have a duty to put this before shareholders before TE-10. I worry that JP having protected his personal finances will want to go for broke on SOU being the historic, ultimate deliverer of the new Morrocan gas province but it could be time in the interests of shareholders to reign back and give us the chance to cash our chips in, which depending on your position could mean a decent profit or at least retaining a reasonable proportion of your capital. Of course, I'm assuming that 'interesting' is positive but then if a CEO knows he can sell 'tomorrow' on what we have already discovered for a good price why would he initiate a programme of de-risking? I've got 15 mins of FSC before I have to hit the road tomorrow so will try and get this in but I think it's going to be frantic if anyone's like-minded I'd appreciate knowing someone else can plug away on this point.

Quite, if they posted on a public bulletin board I'm sure they won't mind being referenced, it would be interesting to see how credible the post looks. I'm sure we'll be enlightened in the next few minutes.....

Aren't they normally held in the morning? Should make sure everyone's fully ensconced with their working days, although you could argue that it gives people their lunchtime to tune in for those with more structured work patterns. Don't think you can read too much into it, u-turn complete!