Sonoro Energy Ltd. V.SNV

FWIW

[Hamoudi]

https://www.goriau.com/berita/baca/kkks-pt-sumatra-global-energi-berhasil-produksikan-kembali-wk-selat-panjang.html

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[RoyMax123]

And what did SNV get ? a good kick in the balls and go play elsewhere you bunch of amateur. I hope that SNV managements didn't forget to say thanks.

[copperplay]

what does it say?  Can't translate it 

[Hamoudi]

KKKS PT Sumatra Global Energi Successfully Re-Produces Long Strait WK Author: Ratna Sari Dewi     PEKANBARU – Cooperation Contract Contractor (KKKS) PT Sumatra Global Energy (SGE) as the new operator of the Long Strait Working Area since 2019 has succeeded in reactivating the wells in the Long Strait Work Area so that the work area can be produced again.

[copperplay]

So based on this article that's it?  Our 25% worth nothing legally and now SGE has started production  im speechless 

[Hamoudi]

Read the last NR "Over the past couple months MGE has begun re-completing wells, which expenditures are not included as a portion of the commitment under the PSC" The question is : What happens when the work outside the PSC is done?

[copperplay]

  why is Kirk resigning then?

[SlyFox1]

Hamoudi - mind sharing the link to the article.  But seems like more questions. Can't say I've ever seen a case where someone spends on production and not have it against PSC.

[RoyMax123]

The link was in his 1st post https://www.goriau.com/berita/baca/kkks-pt-sumatra-global-energi-berhasil-produksikan-kembali-wk-selat-panjang.html

[RoyMax123]

Not only that but in addition they had the help of SKK Migas so go figure.  That also mean that those who still think that Migas will jump in to save SNV will have to re-think about it twice. "The management of KKKS SGE also expressed their appreciation and gratitude for the support and assistance of the Regional Government, both the Riau ESDM Office, Siak Regent, Sungai Apit Sub

[Hamoudi]

https://www.goriau.com/berita/baca/kkks-pt-sumatra-global-energi-berhasil-produksikan-kembali-wk-selat-panjang.html This whole mess doesn't make sense. My guess is as good as yours.

[SlyFox1]

Ya just more confusion to add to this. Goes against management saying SKKMIGAS was in line with SNV.  do wonder if this is more of just a customary news release. At this point i'm beyond confused 

[copperplay]

  exactly Sly and why the rug pulled out  Clearly the PSC signing with Sonoro on it, and the MOU signed...both meant nothing  Corrupt country with more corrupt people 

[StratCap]

SGE just proved that SNV's expertise is not needed. Is SKKMIGAS going to back a well funded conglomerate from Indonesia or a .02 penny stock company from Canada with no money?  Management of SNV need to resign or find a project in a new jurisdiction that they can advance. Why not Canada somehwhere as a starter?  Still can not believe they waited 4 years to watch the car crash

[RoyMax123]

The question now has to be is if this management group is even capable of running a public company the answer is clearly no unless they can prove otherwise and fast.

[StratCap]

There was enough time to have a PLAN B,C, D, E & F in place. Maybe they just didnt notice the signs they were being played the fool.  Change is needed immediately.

[ark88]

Borrowing money from these guys from the get go was a huge mistake. No balls, no skin in the game. Position of weakness from the start, then the SP didn't perform at all which meant the option for the convertible debenture was a bust for SGE. All the while, withholding the RR which probably pissed them off as it looked like blackmail.  The locals basically said f y.

[happyInvestor1]

translation: PEKANBARU – Cooperation Contract Contractor (KKKS) PT Sumatra Global Energy (SGE) as the new Operator of the Long Strait Work Area since 2019 has succeeded in reactivating the wells in the Long Strait Work Area so that the work area can resume production.   General Manager of PT SGE, Muhammad Fattah, said that PT SGE had reactivation of 2 wells namely BA-7 and BA-8 in the

[copperplay]

Happy this article is not good for Sonoro 

[happyInvestor1]

Hi know Copperplay, I was just saying thank you for the informations. Cheers and merry Christmas buddy!

[happyInvestor1]

Great find , thank you!! translation: PEKANBARU – Cooperation Contract Contractor (KKKS) PT Sumatra Global Energy (SGE) as the new Operator of the Long Strait Work Area since 2019 has succeeded in reactivating the wells in the Long Strait Work Area so that the work area can resume production.   General Manager of PT SGE, Muhammad Fattah, said that PT SGE had reactivation of 2 wells

[Tree2tree]

Great research by Hamoudi. But why are people so shocked?  It was clear since the 'MOU' announcement that SGE was going into production alone (without SNV), and that they had at least a non-objection from the government.  Now we know they actually have full support from many levels of government. I believe the meeting and MOU were either designed to give SNV one last chance to

[copperplay]

  So your saying if they did complete the reserve report and announced it we would not be in this position? wow