Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Yeah, but someone traded some shares today, so that must mean it's a duster.
The best thig is that it doesn't matter in the slightest.
If it's a huge oil strike, it'll 100% be a big, big multi-bag. The drill bit is turning.
GLA
Joe,
' today's announcement of a proposed leasing structure, which when combined with the financing proposed to be provided by the Gas Offtaker, would secure the balance of funding required by Sound Energy for the Phase 1 Development'
Just the usual sell on news.
They should have built a war chest when the SP was 60p or above. They could have raised 70 million easily. They then could have developed the Horst in parallel with further exploration. It didn't need to be an all or nothing play.
The horst on it own. even after dilution should be worth 4p. I wouldn't actuallty mind a raise if was to fund exploration of our other licences. Problem is they need to get the SP up pre-raise, which will take 2yrs IMO.
The phrase 'high risk, high reward' is enough of a caveat for Mr Parsons.
Any claims he made about what is under the ground cannot be disproved in a law court.
I've been invested in a few failures where angry shareholders then attempt legal redress. Never seen a penny back.
As Testpack correctly pointed out yesterday, a placing at the market value is a very rare thing indeed. It strongly indicates we are trading well below the true value of the company, which is a big positive. The minor drop following the news also supports this view. Finally, the placing also give confidence in a successful resolution to the refinancing of Marco's bond. It's a strong buy at these prices.