Sonoro Energy Ltd. V.SNV

RE:RE:RE:RE:RE:SNV Future

[StratCap]

ark88 wrote:

StratCap wrote:

ark88 wrote:

StratCap wrote:

 

MJB4231 wrote: While this forum is getting jockular there are some like myself who own millions of shares. The level of seriousness of potentially losing it all sickens me and a few friends. Some will say this is the venture and what occurs daily and for that I say BS. This was a viable investment gone sideways and we honestly don't know the truth as to what happened. If you're a serious investor you'll want answers. We are getting zero additional updates and all time low SP when our resource is at record prices. Our company is out millions as a result.

I doubt that you will get any true answers to what happened with the partner with regards to the relationship and how that went sideways. Nor will you ever know what was in the Reserve Report that the company commissioned and was basically completed but they didnt release to the shareholders. Even though they publicly stated that the report was going to be released in the "near term". How many people bought stock at that point thinking their investment was going to be derisked?

Can this management group be trusted to execute after two badly failed projects? They have been at the helm of the ship hrough two bull cycles in oil and gas with SNV and have sh!t the bed. 

 

Change is badly needed. Lets hope they have a plan as yours and everybody else that owns stock in this nightmare is relying on the current management group to find a way forward.

 

Well said. Couldn't agree more.
Here's an interesting question.
If they landed another prospect in Indonesia, would you sell at the first uptick or stay the course.?

 

 

I myself would probably wait to see what the new project is, what price the financing is done at, and how much skin the insiders will put in before I buy or sell any position in SNV.

Having said that, if the insiders cut the throats of their  loyal shareholders by doing a big reverse split or do a real cheap financing and not offer any to the current shareholder base then likely I am exiting my position.

i have mentioned this before, if they happen to find a project with merit, I would be supportive of a rights offering that allows the current shareholders to take part in financing at or around current price levels for everyone to be aligned in the going forward plan.

If the insiders go and shut out the current shareholders then I will be tapping bids at my descretion. 

This is bottom though but with still lots of question marks and no timeline.

All very good and sound points.
Its important to realize that the Ukraine war is going to have a huge impact on energy prices.
If you think its bad now wait till end of summer or early fall. World oil prices could very well head to $150-200 p/b and in this scenario, production outside NA will become very attractive.
In this light, getting clarity and direction from management would be super important.

 

There is no question about the opportunity in this sector.

The question remains, Can they execute?