Sonoro Energy Ltd. V.SNV

Brutal News

[Goldy63]

Still zip and Capt Kirk bailing as well . This sucks after all these years. Feel bad for those that have a big stake here I really do . GLTA.

[copperplay]

Why extend the warrants at 7 cents to May 2023 if nothing was in the works?   If this completely dead these get canceled today in my opinion  sad sad day but the warning signs have been here since day one with Jimmy.  Time to put big boy pants on and find a new project or solution 

[thorgb1]

You kind of would have thought they would have been working on a finding a new project during the 3 year window when they had no contact with Jimmy. This is a total management failure. Like how could they not have seen that this was going to be a disaster. Jimmy played these losers like a fiddle and got exactly what he wanted which is the whole project for himself.

[StratCap]

  Agreed. The writing has been on the wall for years. This is a huge management failure. Dont know who was making the call to sit on the sidelines waiting for the inevitable with SGE but that person should resign immediately.  By management's inaction and failure in mitigating risk, they have steered the ship right on to the rocks.  Hopefully they can salvage something out

[BCherb]

[BCherb]

It's because this is management's semi-part-time job, if that... do an hour or two of work every couple of months.

[ark88]

I agree. The failure here rests solely on management. Period. Poor judgement call on the party they were dealing with. It's all hindsight but we should've played hardball way back. Their failure to mitigate this risk is reprehensible. It's a tough loss for everyone.

[copperplay]

This post has been removed in accordance with Community Policy

[RoyMax123]

There won't be any solution other than accept what SGE has to offer, which probably mean clearing the convertible debenture and the loan. I just hope that if they find another projects it won't be in Indonesia or other crooked Country.

[Lovethegains]

They have stated they plan legal action if the deal isn't good. To me it reads that way. Now it's our turn to screw Jimmy. The longer we tie him up with legal the more chance he has of losing the PSC, forcing his hand. We are more so in control imo

[ark88]

Totally agree. As I've said, the initiative is ours now. Management should stick the knife and give it a good twist.

[ark88]

Wouldn't surprise me if SGEs call in June was related to the G20 and they cancelled after the event.

[copperplay]

  Ark you have challenged anyone who has questioned this management over the years for lack up updates and now you are blaming them?  Give your head a shake and stop posting 

[RoyMax123]

They didn't say that they plan legal action but to consider all of its available legal options.   So the question is what are the legal options considering that they are in Indonesia and without money.

[copperplay]

  Arbitration 

[RoyMax123]

Both parties have to agree to it and clearly SGE will not

[Lovethegains]

If they are close to kissing off government and losing PSC, they will or may lose it.

[Lovethegains]

"Pissing off"