.....so goes this company! Are you people just going to sit back and watch it happen? Don't say you didn't have the opportunity to change things and save it. LOL
Very easy. Production down sharply on all front. No oil found to help to pay for Zarat despite burning through close to $200M in over 2 years, no cash, a stock price that is at an all time low and that would be including SNG's stock price during its pre bankruptcy , institutions dumping as fast as they can. The fact is Sonde couldn't have done Zarat without a partner since they have no money, management didn't have a choice. I haven't seen anything regarding WC so far. Do you know something that we don't? Everything they do in Zarat is out of desperation.............Sonde has no money!
I don't know: :
They said they were working on getting an extension from joint oil and behold, they got the extension.
They talked about working through the gas sequestration issue and they have.
They said they were going to find a partner on the Joint Oil block and they have - on excellent terms I may add.
They said they were going to sell or partner on some of their acreage in W. Cananda and they did.
Now you can tell us about their failures.
You say first production is 4-5 years away - but Sonde and Viking say 1st. production in 2015 - wonder who I should believe?
I think you are right again, Ben. Have you ever heard of a company getting anywhere that much premium? Average the trailing 30 days closing price and add 20 to 50% premium. Like it or not, that's reality.
Viking is a private company owned by the Thome Group out of Singapore - Thome Group is a very large shipping company who also btw manufactures the production facilities that will be needed offshore Tunisia for the Zarat field.
I agree. I think there is a good chance Riddell will come in and "buy" the company. The stockholders will get screwed.
This bunch is amazing! Ben is right. You all are just sitting there about to watch what is left of your company either get stolen by some bargain hunter or have it go down the crapper! If the stockholders are not happy with management and/or the board, VOTE THEM OUT AT THE ANNUAL MEETING!!! If you can not get the votes to do that, you are certainly free to file suit as minority stockholders. If you are not willing to pursue those options, either sell or shut up because you have no right to complain.
Sonde has no business to be in Zarat, even with the Viking deal. Anyway, any production is 4-5 years away and hopefully there is no revolution in that part of the world during that time. Nothing is happening in WC the past 21/2 years because of an incompetent management, they blew through $150M with production down sharply and no oil discovery which was the key point to get the Zarat deal going. With no cash on hand now are you telling me that the board is going to make SOQ a one trick pony in a venture 5000 Miles away in a very unstable part of the world? If yes, no wonder why the stock is at .98c and institutions are dumping as fast as they can.
It's impossible to predict anything until they officially sign the Zarat deal with Joint Oil. Once that is a done deal then they can start selling the assets they don't want to raise cash to drill the assets worth going after. Then, we can talk buyout price...until then, it's a #$%$ shoot. I assume that they've got a plan to move this all along very quickly but then again, I've been disappointed repeatedly at their lack or swiftness in the past.
It will be for peanuts. Between $2-$3/share at best and it might not even be a cash deal, but a stock deal or a combination of both. Most institutions are gone, who's going to put a fight if the board unload the company at bargain price? Clay Riddell the biggest SOQ shareholder by far and maybe the buyer of Sonde, will not be on the side of the retail shareholders.
I personally doubt that anyone would buy Sonde for $300M. IMO Zarat is more a liability than an asset. Just look at the stock price plunging day in and day out. We are back below $1/share today.
Maybe. Maybe not, Harry. You could also come to the conclusion that JS was "allowed" to retire and after searching the world, they were only able to come up with one flaky deal in NA! You may also conclude that, with production dropping like a rock, nobody thinks this company is a good deal for a multitude of reasons! Looks to me like someone would have stepped up already if they were interested. Just sayin'.
So, what's your best guess at an offer? 60 million + roughly 20 million free cash, and whatever tunisia is worth...
I'd be disappointed with anything less than a 200 million selling price...which would put the stock right around 5 bucks a share. I realize this will never happen but here's to wishful thinking...
It's simply too tempting considering their acreage position and production in Western Canada and their Zarat field. At the current price it would be easy sell western canadian assets for 60 million (that's cheap btw) and have the Tunisian joint block left over. And with Viking committed to drilling up and developing the zarat field - what's not to like? With the CEO leaving one has to conclude that the company is in play.
Sentiment: Strong Buy