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 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.
looking at the selling the past month, it's going to be ugly on all fronts. I am not sure at this point why the management is still in place.
the 34c net is because of the Feb $75m assets sale. Production and $/bbl & /boe sharply down.........as in cash on hand. $17.5m cash left. The North Africa deal still not yet signed and it seems that there is some trouble coming from Joint Oil. Waiting now for the "Western Canada Strategic Alternatives", I think this is the last stand of this company to stay away from bankruptcy. Faint of heart need not to apply.
if you look at the answers of all "those people" on different boards "they all" answers the same way and within very little time between boards :)
The timing is not telling us that the news is going to be good, but that is what the very highly paid SOQ's management has delivered on a regular basis. Get the bums out!