Sound Energy Share Discussion Threads

[steelwatch] 05/10/2017 18:15

Buffy - not only that, but Schlumberger were on board for Badile and they must have been impressed with the odds. Unfortunately, even the most promising exploration prospects don't come with any guarantees.

[buffythebuffoon] 05/10/2017 16:27

JakNife,

I’m the last to defend James Parsons massive hyping of the company, but I don’t recall wild claims about the Italian assets.

I know O&G exploration isn’t your thing, but I would have thought you understand the basics. Until you drill you can only give industry accepted estimates, and based on the seismic I don’t think he ever lied about the potential; did he?

As for tangible assets in a small oil and gas exploration company.....

Buffy

[maurillac] 05/10/2017 16:25

because imho tw is an absolute to$$er !!!!
m

[davidzz] 05/10/2017 15:45

Can anyone explain why, TW, share prophets is so against sound.

[steelwatch] 05/10/2017 13:48

android - all subject to contract at this stage, so I wouldn't think the cut off date has passed yet. Only guessing though.

[android2] 05/10/2017 13:07

Thanks Steelwatch for earlier response

Regarding todays RNS i cannot see a cut off date for holding SOU shares to qualify for the Saffron shares is this correct/is it to be decided? again TIA

[steelwatch] 05/10/2017 12:02

John - simply divide the shares in issue by the number of consideration shares:

"It is intended that the Saffron shares received as consideration for the Disposal will be distributed directly to Sound Energy shareholders. "

c = circa (about)

[eggbaconandbubble] 05/10/2017 11:44

Nice if they sold Tendara and we got 5 RDSB shares per each one!

[johnmcd51] 05/10/2017 11:29

How do you know we may get 1 for every 5.443 shares, what is the 'c' for in front of the 5.443 anyway, is that a typo? So if I have 100,000 sou shares I get 18,732 new shares, is that right? I certainly hope so, have been holding since 15p so have seen the fall abnd rise and fall of this a few times,Oh to be loyal.

[steelwatch] 05/10/2017 09:52

Well, it looks like we get 1 SRON for every c5.443 SOU, but how that pans out in the new CORO combo remains to be explained...

[1westham] 05/10/2017 08:59

So, we dispose of something we no longer see as short term beneficial. We receive shares in the disposing company, we have our chief keeping an eye and ears on future developments.

Fantastic, you couldn't buy that.

Winner

[cpap man] 05/10/2017 08:30

UOG



Fully [standard] listed UOG are also in the Po Valley with SRON and SOU with drilling starting later on this month

[1westham] 05/10/2017 08:29

tel

No mate,could not commit. Just been on hols and I knew it would be manic on my return.

Share the news tel if you would.

[cpap man] 05/10/2017 08:27

UOG, SRON & SOU



Very interesting deal in the Po Valley

Creation of Coro Energy plc through the combination of Sound Energy [SOU] Italy with Po Valley Energy and Saffron Energy [SRON]


Sound Energy, the African and Italian upstream gas company, notes the announcement made this morning by Saffron Energy plc ("Saffron") and is pleased to announce that it has entered into non-binding conditional heads of terms (the "Heads of Terms") with Saffron and Po Valley Energy Limited ("Po Valley") under which it is proposed that Sound Energy disposes of its portfolio of Italian interests and permits (the "Italian Interests") through the sale of Sound Energy's wholly owned subsidiaries Appenine Energy SpA ("APN") and its holding company Sound Energy Holdings Italy Limited ("SEHIL") to AIM quoted Saffron (the "Disposal"). It is intended that the Saffron shares received as consideration for the Disposal will be distributed directly to Sound Energy shareholders.

Etc....

[jacksonpollack] 05/10/2017 08:26

Anyone worked out the ratio to sound shares that we get in this new company? Seems the best deal he could get out of the Italian mess. But I think parsons is starting to spread himself a bit thin on the ground now as he is involved with this new company, echo and Sou. He needs to concentrate on getting it right here before arsing about with other companies.

[cpap man] 05/10/2017 08:23

Fully [standard] listed UOG are also in the Po Valley with SRON and SOU with drilling starting later on this month

[mikemichael2] 05/10/2017 08:21

Now you know why they went up yesterday, fixed.

[telbap] 05/10/2017 08:06

Westy.......are you going tonight?

[telbap] 05/10/2017 08:05

Squire.....how is he "covered"? He has to pay today's market price.....Also note the return of £5 mill for Badille land and vat.Somewhere in the mix we get shares......I dont see the downside here, we off load any Italian issues coming down the track and get a free ride in a new company should something come of them......

[lowflow] 05/10/2017 07:46

Sound with a market cap of £550m selling the Italian asset for less than 10m. I wonder how this was one leg of the business.

James is as usually taking advantage and getting warrants for free:
"Under the Proposed Transaction, Saffron would also issue James Parsons, in his capacity as non-executive chairman of Saffron, with warrants to subscribe for 10 million new ordinary shares in Saffron at a price of 4.38 pence per new Saffron ordinary share, being the closing mid-market price per Saffron ordinary share on 4 October 2017."

[steelwatch] 05/10/2017 07:46

SRON suspended:

[squiresquire] 05/10/2017 07:41

I can hardly believe Parsons calls this ' an elegant way ' of disposal, is he for real.

What kind of language is that if not pure bull.

I notice though he got himself covered in the ' elegant disposal ' with the following,

Under the Proposed Transaction, Saffron would also issue James Parsons, in his capacity as non-executive chairman of Saffron, with warrants to subscribe for 10 million new ordinary shares in Saffron at a price of 4.38 pence per new Saffron ordinary share, being the closing mid-market price per Saffron ordinary share on 4 October 2017.

[steelwatch] 05/10/2017 07:38

Q4 presentation should give a lead on that shortly.

[android2] 05/10/2017 07:35

when do they anticipate starting this exploration drilling?

TIA