Member Info for tradeemup

Apologies we receive 55% of 54.3m on completion. So really circa $28m. How many wells can we drill with this cash assuming SLB and the purchaser stump up? I sincerely doubt SLB and the purchaser are going to commit to an exploration programme. Talk of upside utter ****e BS. To be honest JP must have written the RNS.

So sound receive circa $55m on transaction completion. I assume if we drill prospects we pay 23.4% of the associated costs for each well. Will SLB and the ‘purchaser’ stump up prior to monetising the concession? I sincerely doubt it. Moreover even if this can be agreed if we have a successful outcome the ‘purchaser’ having paid their proportion of drilling costs (24.2%) will take up the option of 9% of our interest in the licence diluting us down to a 14.3% interest having taken on the risk associated to the 9% of costs that fall upon Sound. Great deal - FFS this is a complete joke

Eric we have gone from 47.5% interest to 23.3%. if we are successful at unlocking upside in year one the purchaser reduces this to 14.3% and the valued ascribed to the 9% is proportional to valuation set by this deal. Why would we drill in year one? We pick up 23.3% of the costs and carry them to be honest as they then trigger their option.

SOU are retain 23.3% of east morocco and the purchase can take out 9% reducing our interest to 14.3%! Still think we should carry out exploration for the benefit of the purchaser who then dilute our interest by 40% on a proportional basis eg value ascribed 112m usd. Awful deal making!

LEVELUP. As already stated by others SOU are on the hook for exploration costs in proportion to their remaining % interest. However the purchaser can trigger the option to buy a further 9% of SOUs interest in the asset within year one. Therefore if we do drill in the next year and have a good result the purchaser could execute their right to a further 9% interest. SOU take the risk with private investors money for the benefit of the purchaser? Sounds an awful awful deal to me!

Surely any further drilling will be held back until the purchase exercise the option on time period lapses.

Tragic deal making

Can’t see any exploration upside or drilling to unlock our dreams in the desert within the first year. How can we raise at any sort of premium if the buyer has an option to take a further 9% interest ? The Company will also provide the Purchaser with a one-year option to acquire a further 9% of Sound Energy's remaining interest in Eastern Morocco Portfolio on the same proportional financial consideration and carry terms as the Proposed Transaction

AUDIBLE. I have taken responsibility And realised my paper losses in the real world. More to the point JP has misled either through naivety or worse still for his own gain. I have as much right as you to call it as I see it on a public BB. I’m glad you enjoyed the events!

That’s because it is sreadman. Further dilution near term for exploration upside. 2 year wait on the cards too. Pfff deal maker extrodinaire!

So JP Brian and JJ continue to draw their salaries until Feb despite no funding for further exploration drilling and no sale of the asset as a whole. Sound used to be thought of as an outlier but much like most AIM vehicles it keeps the overpaid leadership team in the lifestyle there accustomed to. Thank goodness JP cashed in... I’ve realised my paper loss this morning and am glad to be out. The naive and shameful marketing by our CEO Will always be front of mind and I will never invest a penny in anything associated to JP

Truly shocking. Nothing more to say. JP reputation tarnished forever

anyone unable to hold for the appraisal drilling on Jethro should not be investing. I have no problem with traders moving on with there 15_20% gains or those derisking from 18-25p ranges. Those with a medium term view will be rewarded and I am happy to hold for the end game. Anyone complaining about the retrace post Monday buy in deserves zero sympathy and should take their moaning elsewhere. The BOD have done a stellar job!

What I’m certain of is that institutions are building a significant stake due to the 5,10, 20, 50k blocks. Expect a few TR1s >1% threshold next week.

Expected Monday now imo but the prize from Jethro + hammerhead + prospective resources has to put any valuation north of $500m for the bod to even contemplate selling out. I will be delighted to pick up more stock should joe be a duster. Hammerhead judos keeps getting bigger and so will Jethro + extension. Gla

Thanks Indeep. That actually had me laughing at dinner. Duster by design to avoid suitors having to pay £10 , brilliant stuff..::

Volume on tsx also picking up. 2.35CAD = £1.45. This dual listing is very strange.

RMR this was covered last night and is highest price paid by bidder in last 12 months. However prudential and investec aren’t going to move over without a gain having taking part in the rump placing. The goodwill of current BOD who purchased at 15p also important ad the relationships with tencent etc need to be retained. 25-30p. Also worth noting takeover panel may waiver the need for a mandatory offer given IP group took part in the subscription which subsequently took them >30% threshold.

i. the acceptance condition is that only 50 per cent. (plus one share) acceptances are required; and

iii. the offer must be for cash or accompanied by a full cash alternative at not less than the highest price paid by the offeror for target shares within the preceding 12 months.

i. the acceptance condition is that only 50 per cent. (plus one share) acceptances are required; and

iii. the offer must be for cash or accompanied by a full cash alternative at not less than the highest price paid by the offeror for target shares within the preceding 12 months.

Do you believe investec or Mole will turn down 100% return in 2 months? Hmmm I don’t

They don’t need your shares, controlling interest >50% to vote through the offer price should do it. I was looking for a logical intelligent response to your Rampy 60-70p valuation...

Feather it may have been 65p but they raised a huge chunk of change at 15p a month ago. What warrants a 400% premium? The tech the patents etc? Investec and mole don’t care they will join forces with IP group and take the 80-100% on the table today. No?