Sovereign Oilfield Share Discussion Threads

[giantpeach2] 10/12/2009 09:40

This started up 0.25p the other day and ended up a penny!!! go on i dear ya!!

[jotoha2] 08/12/2009 12:37

Rocky , please look at the share price of scoty since you started ramping it, it has gone down big time, through consolidation and because it was a dog of a share , anyone who invested in your time would be sitting on a 90% loss , thats how good your advise was!

[rockabilly.] 08/12/2009 12:31

Just wants to stir things up I think

[solarno lopez] 07/12/2009 16:31

yes we did our analysis but anybody could see it was a bag of worms except of course that chappy JOTOHA2 who ever he is!!

[solarno lopez] 05/12/2009 20:58

I will do the analysis first which seems to be lacking with some writers to this board

[jotoha2] 05/12/2009 16:18

Hi nancy,, so pleased you saved your money on this , why dont you put it into scoty group , highly recomended by your buddy.

[solarno lopez] 05/12/2009 10:33

JOTOHA2 Read your posting 313 then perhaps we can call you Richard Head as opposed to calling me Nancy....go too it Rockabilly we did the analysis and saved our money

[jotoha2] 04/12/2009 15:38

Just read your own thread pal , continues ramp , its not a very long thread so you should locate it fairly promptly , if one spouts rubbish about manipulation , then one should make sure they are squeeky clean. How can you say you did not ramp it , just read your stuff again, the share price following your comments nosedived, and its not a long term play , the share price has been decimated since you promoted it ,and has never recovered .

[giantpeach2] 02/12/2009 20:00

cheers for that pbracken, i to will be watching, might add a few!!! sucker for punishment and all that.

[hugh g wrection] 02/12/2009 18:31

I've lost my mables here! doh!

[pbracken] 02/12/2009 17:30

I hold a chunk, giantpeach - but fortunately I banked substantial sums during the spike to 19p. My shares have cost me a good bit less than the current sp, so I'm unduly concerned. That's not say I won't lose on the deal - if so, tough (for me). But I spoke at length with the former CEO today and I get the impression some value in the stock may yet be salvaged.

No one (IMO) should add or buy the stock until the terms of the debt writedown (if there is one - I suspect there will be) are known.

But I'll be watching this stock like a hawk. There could be some very tasty action in the near future.

[giantpeach2] 02/12/2009 17:04

Interesting post Pbracken, do you hold many!!!!!

[pbracken] 02/12/2009 14:22

I've always highlighted the risks that attach to SOGP. Strangely, though, the news of the past few days may expedite what this company desperately needs; a restructuring of the balance sheet that involves a combination (probably) of a debt write-down and a debt for equity swap.

The problem for SOGP is that its acquisitions on the drilling side did not deliver. That meant the debt (which was incurring very high rates of interest) became unsupportable.

SOGP paid down as much of the debt as it could (£17m in the way of cash and fees has been paid back to the lending consortium in the past 18 months). But still this has not been enough. Since the lenders agree that the fabrication division is a viable business, I suspect they will take the pragmatic view and write-off some of the debt in exchange for warrants or equity of some sort.

Because the founders hold over 60% of the stock, this will need to be negotiated on fair and reasonable terms. So although all shareholders can expect to be diluted, it will not be on terms that leave little or no value for them.

This ain't over yet, as they say.

[jotoha2] 01/12/2009 18:39

If you think this company has been promoted , just take a look at Rockys sco board , talk about blatand ramping , and what happened to the share price .....it was diluted 50 to 1 , so investors took a big hit, well done rocky , suggest you get the fsa to look into that one as well...total plonker .

[giantpeach2] 01/12/2009 12:02

someone buys 8k and up it goes!!!

[krazykid] 01/12/2009 11:24

very affective post Rockabilly!

[legallf] 01/12/2009 11:11

Final nail in the coffin for this one!!! Recovery play?? I doubt

[robizm] 01/12/2009 09:10

rockabilly while you might be right and it does go bust most people on here know the risks and if there is a debt for equity swap then the company would have the ball and chain removed. even 10-15% of company for current shareholders with no debt would be better than nothing

[rockabilly.] 01/12/2009 00:27

Has this share leapt back up again......nope......is it likely to? Maybe, but only so a couple of arsholes...maybe even just the one, can run off with your cash. Waste of space boys and girls. I'm keeping an eye on this one, and will watch any rise and fall in the share price with interest.

I'm looking to have the dealings in SOGP investigated folks....just so ya know :-)

[solarno lopez] 27/11/2009 17:47

thats the point apart from mocking me you are encouraging punters into this stock when its just about bust.....

[jotoha2] 27/11/2009 17:08

Why would you party nancy, its impossible to short this , so you are hoping some people will lose their investment ,how sad is that, lots of pain has already been suffered by the holders, its a risky play but large gains if it turns.

[solarno lopez] 27/11/2009 16:32

ROCKABILLY..get ready to say i told you so and then we can party

[jotoha2] 27/11/2009 16:27

Are you going to buy nancy ?