Sonoro Energy Ltd. V.SNV

Is Management Reading here? They Better

[Lovethegains]

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.

[MJB4231]

Whoever u are your bang on & a genius. Took the words right out of my mouth... Enough of this

[StratCap]

  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.

[copperplay]

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

[teetznazz]

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

[copperplay]

Teetz and Love great posts and exactly what this stock needs fresh blood and new direction 

[GeorgiaStreetE]

...or just sell the interest to the partner and be done with it

[copperplay]

  is there an agreement in place where this can be done ?

[teetznazz]

Great idea and then go look for an EV or green energy deal. That will get us financed pretty quick.

[teetznazz]

  Sonoro Green Energy Ltd. Sounds good to me.

[LionOfWalstreet]

Hey copperplate, I made about 27% in my first week out of this sh!thole. So a quick recap. I bought into snv with about 77k list about 63k held for 3 years, left last week and am well on my way to regaining my initial investment. How did you do last week?

[copperplay]

  great move Lion time to cut your losses here as you paid 30 cents per Snv share time to move on. I bought a million Snv at 3 cents so in a far better position than you   

[teetznazz]

Only losers come back to bash a company after they've moved on and made money somewhere else. Pretty strange actually.

[copperplay]

Teetz check inbox 

[LionOfWalstreet]

how can you be averaged at 3 cents when you bought in pre-consolidation? liar

[copperplay]

[GeorgiaStreetE]

The partner put down the $5M to get the block. They can dig up a few times our market cap to take it all over so everyone can get paid and walk away -- management included. When's the sale, management?

[copperplay]

  why are they not choosing this option?  I would think more value is added for the entire thing rather than bits and pieces  Partner is backed by a 6 billion dollar enterprise they can afford 30 million   

[MJB4231]

Ya Menara can afford it alright Copper but that's if your a normal company and not a quarreling, dysfunctional family mess. If Menara was NORMAL there wouldn't be any issues here

[copperplay]

  Menera is SNV largest shareholder remember with their 19 million shares at 10 cents just a matter of time 

[copperplay]

maybe if they can show an updated report on the block this can happen fast 

[copperplay]

[copperplay]

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

[Medam21]

Looks like they stepped into a quicksand and trying to get out with caution. It takes more time since they see no one closer with all the gears needed to help them.

[copperplay]

Everything we have been told over last few years has to be questioned now.  Reserve reports anyone?  JOA?

[SubinC]

Should ask sonoro to register for the top Canadian venture company competition  ... top company run by top people