The dump was at the end of the day. Does that mean that we are going to get the "Viking walk away from Zarat and Sonde" news soon? That wouldn't surprise me anymore.
All good questions. Who knows. You may see CCAA again before July 31. The last time we saw a price of about $0.25. HOWEVER, that was prior to the 1 for 5 consolidation! In today's dollars, you are already well below that number and headed down! I am more curious at this point about when someone with the stones steps up and starts the first stockholder suit! JS sure is not going down with the ship! He's stepping out before the stuff hits the fan so he can get his last paycheck. Unfortunately, the stockholders should have replaced the board and management a year or two ago. For the sake of those that have been through so much with this company, I hope I am wrong. But, I think you can kiss this one good bye.
wow, some fund dumped 140k shares today at .83c. How low will it go? Still lots of time until July 31st.
What's everyone's guess as to when viking agreement will be reached? Not at all? How low with pps be by then?
deeprig1 -- I agree with what you are saying regarding this self serving dynamic management team that runs SOQ. But just the heck of it, I wonder what SOQ would run to if the Viking farmout deal and unitization for the Zarat field actually happened. Time is not on our side, but it is a longgggg shot in my opinion, and i am holding (not my breath), but holding my stocks just in case .... i guess sort of like going down with the ship.
Let's hope they do pull a rabbit out of the hat .... regards, and luck to you.
You are definitely right on this one. You would think that with the money management gets paid, Sonde would be in a much better position. Unfortunately for the shareholders, it is one step forward and three backwards and management has a legal "licence to steal" the shareholders. Big salaries and bonuses and no performance.................No problems!
You people have better odds going to Vegas and putting it all on one long shot number than you do with this bunch in control! Feel the heat? It's your company going down in flames while you are waiting on someone to pull a rabbit out of the hat!
Sure seems to be the case. I hope they can resolve this in the next 3-4 weeks.
I was under the impression that unitization was already worked out prior to the announcement of the Viking deal. However, if you read the press release it sure indicates a problem remains.
How does Sonde play into that Enquest issue? Seems to me that Viking and Sonde should get their deal settled and get down to the issue of eventual production on their portion of the Zarat block and work to settle the issue of unitization with Enquest later. Of course Sonde is such a small potato outift that they really have minimal leverage here.
Enquest bought a 70% working interest of P.A. Resources portion of the Zarat field. It appears that Viking has issues with the unitization of the field. I'm not sure what the issues are as it appears that routhly 2/3s of the field is on the Joint Oil Block. The only thing that really puzzles me is that Viking didn't buy up P.A. Resource portion. Perhaps they made an attempt but were outbid by Enquest.?
July 31st 2013 is the new deadline with no guarantee it will work out. Given the recent price action in the shares, I would guess there is a great deal of doubt about the future of this arrangement and thus the future of Sonde.
Yeah, it's due to the incredible management and board driving their fantastic stockholder returns! Oh wait. Never mind.
.....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!