Sonoro Energy Ltd. V.SNV

RE:RE:RE:RE:Is Management Reading here? They Better

[copperplay]

teetznazz wrote:

 

Lovethegains wrote: I am still holding? Why? I have no choice. A group of us on here each hold over a miilion shares.

We own a substantial portion of this company so if you are reading on here SNV management, listen up;
You were awarded this block in April 2019. A JOA was to be signed soon afetr. October 2019, you atteneded the PSC ceremony and again, let shareholders know that a JOA was forthcoming.
Then Covid hit but Covid cannot erase the fact that we have been told, many in private conversations, that the partner, led by Jimmy, will barely communcate with you. Then we were told, again via private conversation, that his son in law was acting on his behalf and excited to start. Every false hope has led to nothing. When I have asked management why Jimmy wont sign the JOA, I am told, we dont know. HOW can you not know or continue onwards with this sham, clearly KNOWING he will not sign. Is he trying to sabotage the company? Who CARES at this point SONORO!!  Sell the godamn company. Sell a share of it, sell the partners share.
We have only a few months left to complete year 2 seismic work. If year 2 budget is 20 million dollars how will Sonoro pay?
This is coming down to the wire. We cannot wait around anymore for this partner and I, personally urge Sonoro to find a buyer asap. Managements shares and our shares are at risk  and time is running out. If JOA is signed Ill be happily surprised but get us out of this mess with something to show.
I know that many do not care the amount as long as we get our intial investment back.

 

 

i've said this before, but not sure why management cant offset their risk exposure to situation by finding another project to work. 

There has to be a way out of this paralysis state.

i've owned many oil and gas companies with multiple projects on the go.

Unfortunately, management has seemed to have painted themselves into a corner and taken the shareholders with it. Blaming the partner for the past two years is silly. They need to control whats in their control. 

Find another deal while Menara figures their sh!t out if that is the real problem.
 

with what money???  They have none hence the outrage today 

"Money cannot be raised in the current state of the Selat project.

Some tough decisions need to me made unfortunately. There is money out there for the right projects if they can secure an option.

Seems like Menara has Management by the balls and thus so are therefore the shareholders.

Maybe new management with new ideas and contacts can right the ship. The only thing that has proven to be fact is staying status quo has not worked out very well."

Teetznazz posted this Feb 5th that caught my eye.  I would say if this happens this stock will fly after the butchery last couple years and shareholders left for dead