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not2sure, i think you need to pipe down mate
everyday tasks are risk inherent, not just investing in aim
if someone gains your trust with their comments, openness and welcoming attitude, and makes some very bold statements after gaining your trust - you are very likely to believe them and act on their comments with implied financial gains - that is the harsh reality of it, and if he is not an egotistic person he needs to stand up and apologise, especially as he said he is there for PI's
it's clear why he claimed to be there for pi's - no instituitional investor was rating the prospects....obviously the moroccans will back it...the alarm bells were there waaaaayyyy after the enticement was done, but by then people were too far underwater to be able to stomach their losses which have just been exacerbated by pi55 p00r ceo actions.
parsons negotiated the seismic deal and expected someone to pick it up and run with a crock of crap....then conveniently stepped back when the inevitable happened
give it a rest seaton the fence seaton7392
JP admitted he was paid to market the company and that's what he did
At events there were numerous comments:-
golden tickets
buy and sit on your hands
churchillian stlye voice recordings
financial legacies for our families
entry prices irrelevant
31 TcF mentioned and re-mentioned and re-mentioned
At interviews with paid rampers he bragged about 3 digit potential for Badile - which is now deemed to be £0.00
3 digit potential for Sidi - which is currently valued by markets at £0.00
4 digit potential at Tendrara whereby £10 will not cut it, which the market now values at £0.107 (slight mistake in where the decimal place sits....is parsons dyslexic? Might give him some leeway if so)
So you see, there was plenty of evidence, plenty of behaviour which basically said you cannot lose - now if you are told something is a certainty, or heavily emphasised to be so, human nature has it that you go for it.
This was played on big time, and now the snake oil seller is trying to wash his hands of it all.
He thinks he is coming into his own at the negotiating stage of selling the asset? Oh, nice to bring in a person with far more intellect, suave, with potentially more commercial respect than himself to help make the sale - simon davies.
Buyers will hopefully tell parsons to shut his noise up and sit there quietly - they have heard plenty of his tosh since he has 'transformed this compny single handedly' as one of his rimmers put it
Bold statements mean sweet FA from sound
Give us a bold CPR from a competent external 3rd party and it might just be worth entertaining
From super giant connected field to pools of a few hudred bcf, in just as many bold statements....feckoff!
Simon zealot - retail were purchasing shares at or near the £1. NOTE: no II or commerical outfit did so. by purchase, it has to mean parting with cash - not an exchange of an asset/license
Only reason retail were doing this - the hysteria generated by none other than the joker a the top of the tree, videos for which were deleted, but I believe there are more copies being put out on social media sites, purely as an aide memoire
If the asset does get sold for more than 80p per share, I will gladly attend the LE party with a sign saying: "KICK ME"
Fizzy jizz, i hear you, i hear you, and yes i am raging - have every right ot be, unless i'm a docile muppet like pne79 who is just sitting it out - let's face it, that moron can't have much riding on this if anything at all
it's these other plebs who just wind me up - after all has happened they are still intent on pumping this crock of crap, and promoting a spineless crook by the name of parsons
there is a report on the sound website that clearly states all assumptions, and values TE5 at 27.2p
the king of dusters has confirmed an exploration portfolio is worth nothing
the other prospects that will likely be disclosed in the data room would be a lot more valid if at least one drill had come in
guess what? nothing materialised! so the ultimate value any normal, raitonal perosn would want to pay as a maximum is 27.2p!
and PNE - if you haven't lost a penny, whether on paper or otherwise, you have plenty of choices. if you are underwater and hoping for the best, the best is in the region of 27.2p
as for man up - everyone else has to take it on the chin...so why not joker parsons? he has clearly demonstrated he is covering his tracks
18 month old material needs to be taken down? there's stuff in excess of 2 years old still floating about - why the cherry picking? oh yes, damage limitation - there's someone who needs to man up, and apologise to the masses
pne, you lose a lot of money based on someone leading you up the garden path, and all they do afterwards is act smug and arrogant
furthermore, they made in excess of £10m befor ethe chapter has closed and stand to make quite a bit more whilst you potentially lose out more.
So you endorse that behaviour over mine?
Lesson that joker of a ceo needs to learn - You reap what you sow
now, back to sound
yes the seismic is poor
the new encumbent if there is one will look at interesting spots and maybe run something called 3d seismic to make the drill as successful as possible
here's something that nobody has discussed yet:
a successful bid is made for the tendrara asset - whatever the price may be
the residual funds are then distributed amongst shareholders as a special dividend, or maybe a share buyback - hwo knows what mechanism will be utilised
JP then departs - he has 'done his bit' with sound, tenureship ends in jun
Who then takes control of the sinking ship?
Who then works on sidi?
Does the king of dusters stay with his band of merry men to do the same on sidi mohktar or do they also depart?
effectively, the bigger question and bigger stake lies with the aftermath that unfold after the sale of said 'assets'
Crude and anyone else who thinks I was off the mark with my comments - i'm entitled to my opinion based on what I see, what I have seen and what I think is happening - just as you all are
Who was the other 'troll' you were moaning about - n4pound?
He/she is also entilted to their opinion
and commetns about Joker Parsons and his family and children blah blah blah
Do you not think the losses suffered by people sucked in by his hype and hysteria have had a negative impact on such people and their families?
Do you not think the money people worked hard for, and invested based on the 'you just cannot lose' promos that went on, feel the pinch? If that is fair base don their actions, then whatever comes via joker parsons path is also equally deserved by him based on his irresponsible actions.
Based on the argument that he was paid to promote the company, there are people out there paid to carry out immoral andunethical actions - does that make them right?
i bet you change your tunes now
If you are going to say it, do so as it is - unless of course you recieve some form of undisclosed compensation or friendly advice for your services relating to the promotion of sound energy. again, not implying anything, just saying what I think - freedom of speech, democracy and all that shizzle so like it or lump it
portsmouth, if you are happy to get soemthing than nothing, then here's £20 for your entire holding, i'll even pay dealing and transfer charges.
come on, money where your mouth is
total garbage there....something better than than nothing? what a prize fool
you should be beating that door down to ask where your return on investment is following the exuberant confidence
what you'll likley be fed is a sob story that luca was wrong....on the subject of luca, he's doing well at his new venture and as for consolidation in morocco, that was another carrot dangling exercise to keep people interested. afterall, it's in the interests of option holders to drive up the price to exercise options and make money on top of unjustified salaries
but let's just settle for something eh?
Finally, someone who can see the wood!! Bravo Jones1980
25-27p is the value of the find at the horst to sound shares....
Why on earth would a buyer want to pay full value for that when it has clearly been stated to each and every one of us that an exploration portfolio is worth nothing!!
Let me put it to you people another way:
Let's say you're in business to sell coffee
1 cup is worth a maximum £1 to anyone in the market - that is the price of a cup based on everything that is in that cup
I'm going to sell a cup of coffee to you for £1 for you to try and make money from selling that on to someone else
Which moron would pay me £1?
The geology is not great, it's nothing like algeria and the salt seal is probably the only thing that extends out from algerian soils
We could have GOIP of 500TcF but it's worth f**k all if you can't get 0.1TcF out the ground for commercial purposes
Why are people falling for the same old tripe? Majors know the ground will be hard to manipulate to get gas out the ground, hence why nobody, and nobody is rushing to take the license.
it was relinquished when sound got hold of it, and sound will relinquish it for nothing when they run out of cash as well.
If anyone does want to buy it, they will want it at one massive discount so that they can make some profit from it too
JP you gutless wonder - taking down ramping videos of yourself form youtube...well guess what sunshine, there are copies of that nonsense floating around everywhere so be prepared to give up your day job to try and take down every single version that crops up on youtube and dailymotion.
To lead by example and not be wasteful, can someone let us know what establishment Joker Parsons would prefer a milkshake from?
New information for What?
Te8 apparently helped the basin model, so did te9.. ..let me guess, te10 helping too?
None of this information has helped avert hitting a duster
None of this info has improved seismic understanding
Despite p155 and waffle rns releases, the fact remains we have not used the best technology available, we have a poor deal on seismic and interpretation of said seismic, and if the whole team knew about porosity and permeability issues, appropriate technology should have been used to determine the best facies/location to hit in said gas bearing areas to extract it
The deal maker did not appreciate risks, led us up the path, will likely blame someone or something else, is in the process of erasing his embarrassing speeches but needs to remember he is ultimately responsible for this shambles.
If anything king of Dusters Brian highlighted risks at the deep dive, which nobody had heard or wanted to hear because of JP created hysteria. Guess What, deep dive is where jp did not even speak.
Does it start making sense to all of us that were following the pied parson? Myself included to the detriment of my personal wealth.
We've done those calls to death and came up with circa 25p.
Now given the remaining prospects are poor, ground has issues of porosity and permeability, geology is not same as Algeria and the seismic has not helped unlock the geology and would need to be reworked....
Shrewd buyer would want a hefty discount....i know I would
What if they went for 50% discount or more? 3p profit per share is pittance and not what years of holding can justify. Opportunity cost alone over my 4 to 5 years of holding is vast.
Long wait, te5 was a fruit from the efforts of fastnet. Te6 and te7 were pure appraisal wells.
All 3 were feasible and successful as most of the groundwork had been done and that important distinction - 3d seismic was implemented and evaluated for the one most important thing that has been missing since then: SUCCESS
Having had time to calm down, revisit and re-read old comms with joker parsons, he always said:
Punching a hole in the ground will cost the same as revisiting an old well
Clearly, if they are now resorting to old wells, with 2 possible new locations, they are admitting the majority of the seismic is total garbage
Of the 5 targets, most are old wells.
Of the drilled targets so far, using the new 2d seismic which is pretty much obsolete, they drilled Dusters.
Now if they listened to valid questions about 3d seismic, before punching holes in the ground, even if they spent funds allocated to 2 wells on just 1 well and had success would tjat not have been better?
Joker parsons called the shots on that path, not the king of Dusters
The 27.5% of the license that jas been given away to schlum was not a good deal at all. Anyone who still thinks parsons is a dynamic and great ceo is deluded.
He negotiated over a quarter of the company interests for legacy technology with hap-hazard analysis which has proved to be detrimental for shareholder wealth. There is nothing dynamic about that!
With regards to pay rises awarded, if you read the annual report there are several senior people entitled to 6 month's salary should there be a change in ownership. So they have knowingly and quite obviously ensured that they dont lose out as they know their options are as useful as clapping with faeces in your hands!
Shame on the whole board of dicktors at Sound for never being aligned with shareholder interests.
I still maintain, sell whatever you are holding whilst you can, I took a huge loss today and the mps ethical thing to do is share thoughts for reasoned debate amongst genuine investors.
Crude will no doubt see some sort of positive in this turd storm, but he has always been a rimmer at Sound
LONGWAIT, IT WAS PROCESSED BY A DIVISION OF SCHLUM THAT NO LONGER OPERATES - KIND OF SAYS IT ALL, WAS IT WESTERN GECO OR SOMETHING LIKE THAT?
AND THIS WAS A PART OF THE INNOVATIVE DEAL STRUCK BY JP
THEN THERE WERE A FEW INTERNAL PEOPLE LOOKING AT THE SEISMIC AND TRYING TO TALK ABOUT IT - THE DEEP DIVE WAS A BIG WARNING AND IS STILL VERY VERY VALID
SHEARWATER WAS ALSO INVOLVED IN THE FAST TRACK PROCESSING
CRUDE, CUT THE RUBBISH
JP BANGED THE DRUM ABOUT:
- THE GEOLOGY BEING THE SAME AS NEIGHBOURING ALGERIA - PROVEN TO BE A LOAD OF RUBBISH BECUASE THEY CANNOT GET ANYTHING TO FLOW
- THE PROSPECTS BEING IDENTIFIED THROUGH SEISMIC - RUBBISH, ALL DRILL TARGETS SO FAR WERE ON THE FASTNET PROSPECTUS AND THEY RAN OUT OF CASH TO FULFILL THE LICENSE REQUIREMENTS (MAKES SENSE WHY THEY DID NOT TRY AND RAISE FURTHER FUNDS - THE LICENSE AREA IS A DUD!!)
- DEALS THAT ARE UNIQUE AND INNOVATIVE - DON'T SEE ANYTHING OF BENEFIT TO SHAREHOLDERS, THE SHARES IN LIEU OF PAYMENT DELA WITH SCHLUM IS PROVING TO BE RUBBISH. 2D SEISMIC WHICH IS FUNDAMENTALLY WRONG STILL BEIN USED TO TOUT NEW PROSPECTS
- HIRING AND RETENTION OF THE BEST PEOPLE IN THE INDUSTRY - WHERE? THEY AR EMILKING THIS FOR IT'S WORTH. ANYONE WITH ANY SELF RESPECT WHO VALUES THEIR IMAGE AND SEES THE GOLD PLATED LUMP OF TURD THAT JP KEEPS POLISHING HAS GONE - D CLARKSON, M HOOD AND THE OTHER CHAP WHO LEFT TO JOIN ECHO
- 4 DIGIT SHARE PRICE POTENTIAL WHICH THEY CANNOT COMMENT OR PROVIDE GUIDANCE ABOUT NOW
- DREAMS IN THE DESERT
- FINANCIAL LEGACIES
- SELL THIS FOR £1.20 ALL DAY LONG
- POTENTIAL BUYERS DISCUSSING ASSET SALE WHICH HE DOES NOT HAVE TO DISCLOSE TO THE MARKETS
LET'S FACE IT, JP IS PAID TO RAMP THE COMPANY AND PROMOTE IT - HE DID THIS VERY WELL AND HAS NOW FALLEN ON HIS OWN SWORD
SOUND ENERGY IS FINISHED - NOBODY WILL SUBSCRIBE TO A NEW PLACING IN THEIR RIGHT MIND, NOBODY WILL PAY A PREMIUM FOR THIS SHAMBLES, AND NOBODY HAS ANY FAITH IN THIS HALF COCKED SEISMIC WHICH IS TOTALLY FLAWED AND USELESS BECAUSE IT WAS FAST TRACKED AND DID NOT PROVIDE ALL THE INFO THEY NEEDED!!!
people are you really still going about this long touted LE?
It's a losers event just like this share - they hype and tripe sausages have long been and gone and since then the price has delivered no returns for anyone unless you have traded the peaks and troughs
WAKE UP PEOPLE!!!
THE SEISMIC IS RUBBISH
THE GEOLOGY IS NOTHING LIKE ALGERIA!!
NOBODY IN THEIR RIGHT MIND WILL BE LINING UP TO PAY A PREMIUM FOR THIS RUBBISH
EVEN IF THEY HAD AN INTERETSED PARTY ON THE SIDELINE, THIS IS PROBABLY REASON FOR THEM TO WANT A HEFTY DISCOUNT BECAUSE THE GROUND IN MOROCCO IS NOT ALLOWING ANYTHING OF VALUE TO BE RELEASED
SELL WHATEVER YOU HAVE NOW AND BE DONE WITH THIS CROCK OF $H17 - JUST LOST 33K AND HURTING BUT THIS IS ENOUGH...NO MORE SOU FOR ME
IF YOU VALUE YOUR HARD EARNED CASH, SELL UP BEFORE THE CURTAINS FALL
The King of Morocco needs to give JP a kick up the a$$, so hard he breaks his royal foot on it!
What a total shambles of an operation this has turned out to be, what a total load of tripe spouted by JP
And they still have the audacity to talk about the paleo at this point in time, when they have clearly stated they do not know enough about the paleo since the seismic and drils have happened.
What did they award themselves pay rises for?
What on earth is JJ being made a director for?
Why is JP still employed by sound, after his rolling 12-18 month rns has come to the end of the 18 months?
50% saving on general and admin costs? Maybe they need to save 100% of the rises they awarded themselves
Maybe they need to save 75% of total costs of the company rather than G&A which amounts to nothing....again the focus of the board is on something other than the main issue
What a joke of an investment...hold on, here comes the high risk high reward caveat
F*** you JP/BM and defo JJ the snidy C**T
shed u make some very very valid points indeed
what is the reaosn for the almost doubling of salary of bm and jp? they have not yet hit the motherlode as far as we are aware.
For bm, could it be that it is to make up for the potential missing profit on the 84p options? Maybe even the 60p options?
could be a very clever way of not having aligned interests indeed
on the subject of cahs - JJ pulled another blinder!
States they have £20m funding....actually, that's comprised of:
£11m cold hard cash, with another £0.8m receivable from debtors
£8m cash equivalent items
Now if JJ wants to argue the point, maybe he should sacrifice his salary and try to get a mortgage based on exchange rate profit/gains or some other paper accounting adjustment of the sort
Might wash with novices...not with this old chap
He is a cunning ****