It will be for peanuts. Between $2-$3/share at best and it might not even be a cash deal, but a stock deal or a combination of both. Most institutions are gone, who's going to put a fight if the board unload the company at bargain price? Clay Riddell the biggest SOQ shareholder by far and maybe the buyer of Sonde, will not be on the side of the retail shareholders.
It's impossible to predict anything until they officially sign the Zarat deal with Joint Oil. Once that is a done deal then they can start selling the assets they don't want to raise cash to drill the assets worth going after. Then, we can talk buyout price...until then, it's a #$%$ 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.
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.