Do I understand it correctly, that upon close, we will receive 0.34 shares of Marquee for every share of Sonde that we own, and also that our (new) Sonde shares will be reduced by 0.9? Question two, what will the timing be? Will it be calculated based on the shares we owned upon announcement, upon closing, or some other time?
I would assume as you have it is for a partner. However if they follow their normal course it would be to just spend what money is left....
Not sure what it means practically for the shareholders. Anyone has any idea?
You haven't seen low yet--wait until management has spent millions on NA and still don't have a partner--now that will be low---really low.............
Any long-term investor in SOQ has seen enough to know that Wichita Jackstraw is as full of stuffing as your Thanksgiving turkey! Management and the Board have run this company into the rocks and are jumping like rats off a sinking ship! They just handed what's left to another group of morons and hope it gets the heat off their butts!
.........and going lower by the day.......What a "GEM" :) The funny thing is that Marquee is also going lower by the day. What does Witchita.jackstraw knows that investors at large don't?
witchita. This board has always been civil. What's with the insults to a regular board member who has never been rude to any other board member. You just sort-of show up when the stock price is in the dumps and tell us how valuable it is. We all wish it reflected your optimism. What's the point. I will sell you all of my shares today for $9 each if you think they are worth $10. Good deal, huh!
Wichita, insults now? Who cares if it is Claus, Olav or the Queen of the Gypsies? The point is that Viking couldn't or wouldn't get $40mm. The stock is at an all time low and that's all the shareholders care about. Have you checked your blood pressure lately? Have a great evening.
and i'll save you the embarrassment, i was going to spring this trap but now i'm actually feeling bad b/c there is a good chance you have a screw in your brain or something. tor boswick's company is not the viking you are looking for. remember, ceo of "our" viking is named Klaus and he's the son in law of Olav. I happen to know tor personally (crazy coincidence i know, like drawing the ace of diamonds on the river, and i just don't feel good lying in wait for a literal moron). and i promise you, (and not matter how much you hate me, you have to admit i haven't claimed anything i don't really know, so trust me on this) he's not the jedi you're looking for.
so i'll save you the embarrassment as you #$%$ in your diaper and spit out the apple sauce your mom is spoonfeeding you. you are outclassed before you even enter the arena. go home. sell your stocks. debate what CD you should put your money in (hint, the higher rates from the internet banks are actually worth it). tell your wife you can't get it up b/c you are depressed and beaten. then swallow that shot gun we discussed earlier.
i'll send flowers, i promise
ok loser. against my better judgement (which is simply it's not fair to pick on brain dead clowns such as yourself)....what website for viking. you present one, i go away, simple as that.
now if you can't, swallow a shotgun. deal?
Again, great job of ignoring the facts not only in your original post but in response to mine. benmare, you wet soggy clown, join the list of others who should just go ahead and sell this stock. you add zero value to an intellectual conversation, I can't follow what you are trying to say (not b/c i'm an idiot, but b/c you are). i give up, i really do. feel like i'm walking into a suicide anonymous group in the basement of some church. you guys are eating stale donuts, drinking cold coffee, lying to each other about how great you all were once, and meanwhile you probably own 3,000 shares, and i say wait a minute guys, let's debate whether life really sucks, and you guys get mad at me for opening the curtains and pointing out to you it's sunny, b/c you'd rather it be dark and stormy, like your life.
You asked an honest question ( i thought), i answered it, you couldnt contemplate the answers to went back to crazy, lunatic, crazy speak. good luck you depressed, backwoods, tim horton jelly donut eating cowards. my advice, sell every single share you own and pick up a hobby like knitting or something. you aren't smart enough (or man enough) to own stocks.
Viking was/is a #$%$ company and this is not hard to know that, look at their website and see. It is not really a surprise at all that Viking couldn't even get $40MM, which should be chump change for that kind of project to any reputable company. The fact of the matter is that, after #$%$ debacle, it was evident that SOQ didn't have the "muscle" to be in NA and that WC was it. Now, few years later and with a stock price at an all time low and burning through over $220MM we do have the confirmation that that Business plan was the right one. The BOD hired an incapable CEO aka Schank who didn't bring what SOQ needed most...........CASH. Oil was what SOQ needed to find to get the cash and unfortunately, Schank failed at it spending a fortune in the same process. Now we are back to square one, with Toufic telling the shareholders that the company is excited about "The significant potential of the Zarat block". This would be great story, but unfortunately for the shareholders, SOQ doesn't have the money nor a partner to develop it . The confirmation of that, is the latest SOQ's PR.
1) That's not factually accurate, historic stock chart (which is where I assume you are getting that information) adjusts for splits (or else you'd see a 5x increase overnight at some point). so while stock was at $3 (and change), you have to compare that to the 70c number.
2) While still pretty dismal, a large part of that is due to the market, compare that performance to other gas-weighted junior and intermediates and it's actually not that different, and i'd argue the company better positioned for the future (at least in my opinion) than those comps.
3) You are really being selective in your memory. THe company HAS
a)hit a lot of milestones on the JO block outside of closing Viking (despite pretty difficult situation, ie the environmental bomb the gov't dropped on them in middle of trying to find a parter) as well as gotten JO to change some components of the deal in SOQ's favor (stringing along non-perf penalties over three years vs one) while also getting better economics from Viking during this whole process
b)found a good deal for producing assets as they said
c)bought for $2mln and sold for $75 mln the kaybob acreage.
Would be interested where else, besides Viking falling down (and SOQ not only party to have misjudged these guys) they announced that didn't come to fruition
One thing that we can point out is that whatever management announced the past three years never came to fruition. The latest example is this Viking deal. The fact of the matter is that when SNG came out of CCAA the stock price was at $3 and now it is at .14c pre RS.
I think at full potential, JO is worth 3x the exploratory plays. And I think again at full potential (ie everything goes right), the exploratory plays are worth $10/share.
Sure. First, I disagree the management team is dishonest or unreliable, but would (still) be interested in hearing facts as to why I might be wrong. This comes from having immersed myself in the history of this company, and while I am amazed Greg Novel isn't in jail, nothing from post those dark days leads me to believe this claim that current mgmt is bad. This is perhaps another important point I should have added to my post to dvo. If at any point you feel you are being lied to, again, you should 100% sell.
So with that important difference as a base, I also believe there's value in the JO block, and that value has gone up, not down, due to all the work and changes in circumstances that have taken place in the last year. Do I have any primary data in this regard? No, I am not going to wildly claim I can point to secret conversations had in Tunis as to why I think this, I just a)don't believe management lies, and if anything is painfully honest and b)everything they say about the JO block makes sense.
But we are investing in a stock, not just a company. and at anywhere near these levels, the stock is a mispriced risk/return story. Both based on fair value analysis as well as the price targets of the 7 analysts covering MQL, our MQL shares are worth somewhere around 40c/SOQ share. Let's assume we have to pay the $15mln to JO for not drilling a well this year to be conservative as well as some small cash burn since they wont have any operations, cash is worth another 30c/share. Add in the exploratory W Canada assets @ again a conservative $100/acre, that's another 15c/share. So a realistic downside is 85c/share, above where stock is today. And we have 4 call options. The two exploratory plays in WC, JO and MQL being worth more that $1 and change.
As for upside from these call options, it could be huge and is graduated based on outcomes. And I would be more than happy to share more if anyone has specific questions, but for now let's leave it as this: