Member Info for Silkster365

And I don’t blame them for not communicating any further. They have been treated appallingly. Trying to communicate extremely complex scientific data and routines in laymen’s terms has come back to bite them and I am sure they now realise that communicating directly with PIs is more trouble than it’s worse.

The way people have reacted to a failed drill has been shocking. I understand everyone wants to live in a classless society, but I am not sure that phrase has been interpreted correctly.

Nice to see a couple of sensible level headed posts. I felt I was whistling into the wind! Couldn’t agree more with some of the comments there, the reaction of the many on here, FSC and direct to the company has demonstrated everything that is wrong with society these days. Full of greedy, ‘I want. I deserve. Give me’ people who’d happily stand on your shoulders to get closer to riches even if it meant pushing you down into the mud in the meantime

blocker - for what its worth it disspointed me as well. However, I just wanted to point out that we (should) all have been aware of this as its been stated a few times by the company over the last 6-12 months so it shouldnt come as a shock now, just because the first well hasnt been successful

Sundaysun - fair play. Brian wasnt at his best today I agree. I am sure the team are all feeling the pressure at the minute and his answers did tail off as the conversation went on. But to be fair they were taking a load of terrible questions for over 3 hours straight. often repeating themselves and having to no doubt read countless abusive posts!

Bo42 - this is not new news. It has been outlined in at least 2 FSCs/presentations, I cannot really specifically which ones. This is the sort of thing that grows arms and legs because of people’s emotions taking over. Brian has stated previously that seismic does not increase the value of the asset, it just makes it more saleable. It’s like having a house with a new paint job. It doesn’t increase its value but you will get more viewings. If people stick to the facts on here you will all find it a lot less stressful!

I respect everyone’s views on here but I am still surprised by some of them. ‘Brian is out of his depth’? Really? There seems to be a real lack of appreciation for what is involved in exploration. That is what we are doing - a 3 well exploration program which is high risk, high reward. We obtained a lot of detailed seismic to allow us to place as good a bet as possible. We have some of the best in the business looking at the data, and as Brian eluded to today, despite no CPR had it ratified by others in the Industy who are way better qualified. The simple face is that 30% CoS is ‘as good as it gets’ in exploration, but it’s still only 30%! Majors drill dry holes all the time, despite spending millions on data and throwing way more brains than Sound have available to them at it. Do you think their shareholders throw their toys out the pram and claim the CEO is a chancer just because they have a duster? No, they just drill another 10 because they have very deep pockets and can afford to miss on a few drills. We don’t have that luxury, we are small explorer with limited funds. We have lined up a 3 well program to give ourselves the best shot we can at striking lucky, and have based that plan on a huge amount of data and the vast experience of the resource we have on board. We didn’t get lucky with the first drill, we have 2 more shots. If people think it sounds far too risky that’s because IT IS! Perhaps those investors would be more suited to investing in majors and taking a nice steady dividend instead of placing their bets on a small explorer with limited funds and resources. For me, it was a great FSC today and I still have confidence in the team to deliver. I will withhold my judgement until the end of the drilling program, and even then if it is not good news, sure I will be gutted, but I shall also know I rolled my dice and took my chances.

Its been a very imfomative FSC. What is shocking is the number of people who dont understand the strategy. Seems most believe a 3 well exploration program consists of 1 well

They never avoid questions. Only duplications or those that are asked aggressively/abusively. Despite the share price (no doubt lots of people annoyed they havent been told the team can guarantee us £10 a share by December) I think its been a very good FSC for serious investors. I am coming away with a better understanding of what has gone on and I personally feel in a better place than before the FSC.

If you are asking questions with an aggressive/abusive slant I wouldnt expect them to be answered. This is business at the end of the day and if nothing else, the people you are talking with are entitled to be spoken to professionally

Spot on Orangutan! The people who are gearing themselves up to "Give JP an earfull" tomorrow in the FSC should be ashamed of themselves. Most AIM companies wouldnt even entertain the idea of speaking directly to PIs, let alone fronting it up when the sh!t has hit the fan. People need to grow up and decide whether they can handle the roller coaster that is AIM. Spouting "We were promised we would make millions!" is ridiculous. If thats what people base their decisions on then I would suggest making Sound your last investment.

Absolutely spot on Timster - couldnt agree more. The difficulty being a junior exploration company is that we dont have bottomless pockets like the big boys. But they are not immune from bad results despite mountains of data at their fingertips. We just need 1 of 3 wells to come in, thats always been the plan, that plan continues

There are an awful lot of people spouting some pretty unhelpful stuff at the moment. We all knew the CoS was 30%, we all knew (I hope) that oil and gas exploration is about as risky as it gets, and we all knew there would be 2 more wells after TE9. I hope that if TE10 or 11 yield a result that some of the people posting over the last day or so offer an apology to the Sound team. I’m as disappointed (and out of pocket) as the next person but try and show a bit of class and wait until the team have finished the well program that we were (previously) all very happy with. For what it’s worth, I have had a couple of email exchanges with JP yesterday and I’m pleased with the responses. Those desperate for a response themselves should consider perhaps going about it a little differently. If you show respect you get respect and there is a severe lack of that on here at the moment. It all smacks of greed and selfishness and everything that is wrong with society these days

get 48 letters of no confidence by the morning, thats what I am wondering

"he'll just move on to his next company with shite loads in the bank the old boys club network in action". Cant see that happening - no-one is going to invest in his vision again are they if SOU ends up an utter failure. Just look at the Echo share price over the last month or so if you want proof of that

As I say jamescarver - a lot of emotion around today! Yes, I think he probably is hurting more than a lot of PIs today. Fair enough, not financially, but the humiliation/guilt/failure will be tough to bare. I've lost a lot of money here, as I am sure a lot of others have, but I only have myself to answer to

Exactly Shpunken. I am sure JP is hurting far more than a lot of us are today. This is his reputation, the promises he made to a lot of people, his pride. As with you, I am taking this rationally - I invested as a business decision based on the facts I had painstakingly researched for hour upon hour. I got it wrong, JP seems to have got it wrong too. But it was always an investment decision based on fact and understanding that it was always likely to be high risk/high reward. You win some you lose some. All I hope for now is that the next move(s) are taken with rational thought and we dont just drill TE10 out of panic. I'd like to see some facts and understand the reasons behind whatever we choose to do next

Of course he isnt resigning. There is so much emotion on here at the moment (understandable).

I am gutted, but some of the stuff flying around is uncalled for. If people invested solely on the promise of 'golden tickets' and things like this then they only have themselves to blame. NEVER invest on other people's opinions - do your own research. I researched Sound inside out and back to front. I was extremely confident. Looks like I got it wrong, but that's Oil and Gas and that's AIM.

I called another placing in one of my posts a couple of months back, as well as warning people that the board were likely to continue to stitch up and pull the wool over PIs eyes. My advice continues to be to use UKOG as a punt, with a small share holding, it’s far far too risky to have any serious money in and SSs track record (I.e delivering disappointment) speaks for itself. Expect a slide on the SP from here

cockernhoe - we know HH isnt a duster. There is a massive difference between what they think they have and being long term commercial. People on the BB really do not understand the fundamentals of the oil & gas industry. I wish everyone luck, but for me the odds of it being what everyone hopes for are hugely against

Matteth14 - I can apply for a production license for my back garden if I want. It doesnt mean anything! Yes results have been good so far. But as I said in my previous post, I didnt doubt that wouldnt be the case, but doing it over the longer term is highly unlikely for all the reasons stated in my last post (IMO)