Re: Being nosy - Coro Hi BB, Sorry to hear that things are not going so well at the moment. Spring has sprung and the weather looks to be getting better so hopefully you will find yourself in a better mood shortly.We currently have three opportunities as the moment Sound, Sound the Sequel (Echo) and Sound the Prequel (Coro).Sound is heading for it's LE sometime after the current drilling campaign in Tendrara.Echo lost its first CEO in less than a month and the current plan is to drill in two countries Argentina and Bolivia where the division between private and state assets can become "blurred" shall we say in remarkably quick time should the political situation require it.Coro has had the icing on the cake devoured before the deal has even completed.I have not as yet invested in any of the Sound clones - rather I will wait until JP delivers on Sound first then I might consider investing some profits if the situation warrants.Looking at the timetable for the 3 companies I do not see any imperative to invest in either of the clones before the main event with Sound takes place.I sympathise with your assessment of the system that iii has put before you.Unfortunately in the modern world , especially so with IT systems, you , as a customer, come a very poor last in the pecking order . I had a brief look at the beta model of what is being proposed here and was astounded by the rubbish that was being put forward in defence of what they are attempting to do, which is to implement a functionally poor pre-written piece of rubbish that most of the users do not want.I took the opportunity to look up the LinkedIn profile of the project manager running this mess and according to his education profile I can safely say that I WROTE my first order entry system before he was even born(CICS/COBOL running on an IBM360).The concept of providing the maximum functionality with the minimum effort(keystroke or click) has been overthrown in order to present as many pages/screens as possible between where you are and where you want to get to to maximize the opportunities to add paid for advertising, with pages being dominated by "white space" to allow for the embedding of adverts withing the user experience.One of the ways you can enhance your experience is to navigate by the "sitemap" which is normally at the bottom of the page ( its there to allow google to properly index the site) rather than the worse than useless index that infects so many online systems these days.I have seen quite a few of the quality posters discussing alternative venues for carrying on their threads and I fear these "enhanced systems" will drive a lot of people to pastures new.One of the worst things that III are attempting to day is to abolish the posting history when they cut over to the new system.They seem to be totally oblivious to the fact that this is the richest of resources that they have and what attracts people to the site in the first place.I will give you an example that is pertinent to the Sound investor.At the moment there is a bit of a brouhaha on the LSE BB amongst the less experienced investors regarding the applicability of tech from a company called Scotforth.I notice that the hysteria has not spread over here, no doubt in part to this post made in December 2011.[link] 570 bleuies ,eat your heart out IIIIf you want to hear it from the horses mouth you can view a preso here.[link] company makes a habit of popping up on "flavour of the month" BBs just when things are getting interesting .Usually if a company comes up with anything useful/original in the seismic or analytical fields then one of the service big boys will take them over and absorb their tech to better compete with their adversaries. Scotforth have been around for
Re: Being nosy - Saffron/Coro Sorry.......breakfast brain in gear. Should have asked how many have bought Saffron shares, durrrrrrB_B ( got Coro on the brain and it's not even changes names yet!)
Being nosy - Coro Just out of interest I was wondering how many holders of SOU have purchased shares in CORO and if that has been a beneficial purchase for you.To be honest I have taken my eye right off the ball here with my investments. Had a lot of personal issues going on and concentrating on my other passion of property development I have not had the time to follow day to day ups and downs of individual shares. Coupled with the fact that I find the changes to iii pages a backwards step for them, now having to switch between two separate log ins for portfolio values and research.My input via posts has whittled down to "0"..........simply read posts and tick up where appropriate. Keep up the good work live long and prosper B_B
Re: Saffron/Coro- Any action required? Thank you, good to know
Re: Saffron/Coro- Any action required? No, you dont need to do anything as will get Coro shares if hold Sound shares at 6pm on 3 April.
Re: Saffron/Coro- Any action required? Hi Allexcuse my ignorance , to get the Saffron/Coro shares do I need to take any action . I hold Sound energy shares with Hagreaves Lansdown.Many thank
Re: Saffron/Coro Yep,down it goes.
Re: From elsewhere "1 out of 3 would do" as JP states regarding the 3 upcoming drills this summer. I would prefer to channel Meat Loaf and say "Two Outta Three Aaint Bad"Good luck to all holders, hopefully we will all be in a happy place next winter.
Re: Saffron/Coro Cheers Cruncher. About 11000 shares at 4p is not a bad freebee but Sound will probably drop accordingly.
Re: Saffron/Coro Wizard, one Coro share for every (approx) 5.5 Sound shares that you hold.Latest total shares RNS stated there are 1,016,103,628 Sound shares.There will probably be a few more warrants exercised prior to the record date, but if there aren't the maths makes it one Coro for each 5.466 Sound shares.
From elsewhere Some interesting observations from the Chester presentation yesterday - thanks to those who attended & shared.TE-8: when its loaction was decided (by Schlum apparently) there wasn't any AVO (amplitude vs offset) available but there is now. AVO findings would have suggested that TE-8 woul have been successful if the well had been sited a few km in either direction.Future RNS's etc are going to be aimed at potential buyers in future, so us PIs aren't going to get as much info as we've enjoyed in the past.First lot of seismic going to external experts today, should get results in 4 or 5 weeks.Spud date for TE-9 is provionally 26 June.JP isn't expecting success at all 3 of the forthcoming wells "1 out of 3 would do".JP still talking about many multiples of current share price.Fingers & everything else crossed.
Saffron/Coro Sound Energy Shareholders on the register at 60pm on the new Repayment Record Date of 3 April 2018 will be issued with an aggregate of 185,907,500 (subject to rounding of fractional entitlements) new ordinary shares in the share capital of Coro Energy plc (the "Coro Consideration Shares", with such shares being issued to Sound Energy Shareholders (pro rata to their holdings in the Company on the Repayment Record Date, subject to rounding of fractional entitlements).Any idea what we will get as " pro rata to their holdings"?
Nice Little Article Thanks to Ducati2 over on LSE for this link:[link] though it is from 05/02/18 I found it a pleasing read.Cheers A
Re: Message from the Red Zone. Hi Cruncher, The Schlum info wasn't part of the main event it was just a comment he passed while waiting for everyone to arrive.The 3 wells are due to cost $8m(approx $5m net to Sound) each. That is $15m for drilling plus $7m for G&A. That will take approx $22m out of our $30m cash pile. JJ did mention that they were looking at "non-dilutive" funding to progress SM if the Koba test warranted it so, and it is just my guess, that maybe that is the reason for his visit.There was a bit of discussion around the implications of Shell/Repsol taking the new acreage which also included the possibility that Morocco could look to sell Tendrara to someone else to negate Shell/Repsol becoming too dominant should their acreage prove to be as productive as ours. JJ, however, could make no definitive statement one way or the other. GLABF
Re: Message from the Red Zone. Appreciate the feedback Billfish, & well done on braving all the snow for your two visits.You deserve a hot toddy!Good to hear that they seem to favour the 20" pipe - implies confidence.In relation to "JJ on his way to Aberdeen tomorrow to talk to Schlumberger about what happens next" surely the next few months are already mapped out, seismic, seismic CPRs & the 3 drill programme to start in the summer? So do you reckon the talk is more about the longer term?Was there any mention of Shell/Repsol activity or the rather heralded but yet to land "new deal"?Agree that Luca deserves a good party.