Sonoro Energy Ltd. V.SNV

Corporate Update

[Medam21]

. https://pro.ceo.ca/@thenewswire/corporate-update-7fc78

[RoyMax123]

here we go , the sh1t  it the fan.

[ark88]

October 21, 2021 – TheNewswire - Calgary, Alberta – Sonoro Energy Ltd (the “Corporation “ or “Sonoro”) (TSXV:SNV) provides the following corporate update to shareholders.   PT Sumatra Global Energi (“SGE”), Sonoro’s joint venture partner of the Selat Panjang Production Sharing Contract (“PSC”) has advised Sonoro, via Asiavest Trust, Sonoro’s Trustee representative company in Singapore, that

[ark88]

Well it's scenario C. Scenario C: Negative Finacial and legal oligations, including monies owed to JV partner can not be met leading to Insolvancy. And/or the comapny is involved in a legal battle over Selat Panjang.

[SlyFox1]

Seems like there is more to this. I have a feeling the discussions are just beginning 

[RoyMax123]

there's surely a lot more in term of cost and time. but who will win ? a canadan company against an Indonasian cr@p in Indonasia...

[AyuFan]

at least now we know why there's no update and progress in the project. it was the partner's plan all along to do nothing until SNV can't pay the loan and take over the whole project 100%. whatever the outcome is, at least we know what the partner's plan is.

[ark88]

You better hope SNV management had top notch legal advice with respect to the Loan Agreement. That's all that we have to hang our paper on at this point. SGE has made their intentions clear with the demand for SNV's share of Selat Panjang in lieu of monies owed. SNV will now issue 19 million shares to SGE before November 25, 2021. All of this is just bluff until SGE files papers in

[copperplay]

We have been valued as a shell for a long time now what other outcome were people expecting?  Honestly you don't trade at 4 million market cap when the asset value is 20 times this  The question now is what next ?  Consolidate the stock?  New PSC?  New business venture?  When is halt lifted? these are the questions to be asked  Managment still hold

[SubinC]

The corporate update seems likes this is all a big surprise.. from 2019 nothing was happening.. these guys should have seen this coming.. another tragedy after budong and they keep adding to it.. they are showing some balls this time.. atleast looks like it ..

[ark88]

No, you're not thinking. 25% share of PSC has value, period. It had little to no value when the JV wasn't doing anything to monetize it. That doesn't mean that it has no value. Certainly, SGE thinks it has value as they are trying to steal it from SNV. At this stage, SGE is a dishonest partner that SNV can't to business with. So there's no possibility of trying to make the JV

[babyofbullion]

Yes I get the sense from the news release that SNV want to come to an agreement to sell the 25% Hard to negotiate when someone won't come to the table though. 

[ark88]

Remember, the 19 million shares to be issued to SGE. That was priced at $0.10. What if the SP trades at or above $010 at the time of 19 million shares issuance? One or another, November 25, 2021 is a big day for the company.

[copperplay]

  Ark $25 million is 25 cents per share.  Just watch how the stock trades in 20 minutes to answer your question 

[copperplay]

ARK you IDIOT look at what you posted.  $25 million is 25 cents per SNV share...we are at 2.5 - 3 OMG you fool

[copperplay]

  October 21 post just to re fresh your memory  $25 million is $0.25 cents per share  Thursday deadline why are you not buying today Ark? Look forward to your response 

[ark88]

Thansk for reposting that. I forget how decent the analysis is in that post.

[ark88]

You seem not to understand the difference between relative risk and absolute risk.

[copperplay]

[GeorgiaStreetE]

On the plus side, even with a big exit on the market today there is still buying pressure. I'm personally waiting to load up the truck once management shows that there is a plan.

[StratCap]

  Good perspective Georgia. The bright side is 1.480 million shares were bought today. Buyers showed up to lap up the shares that came available. Hopefully today was meanigful.

[copperplay]

  there is a plan but probably will not include current management 

[copperplay]

I will wait for your update Ark...this post was 6 months ago

[ark88]

you prove my suspicion once again. Who has a 6 month old post bookmarked to use again and again.

[ark88]

and for what purposes? Ask yourself why would he do this repeatedly? Constant seeding of doubt.

[copperplay]

um because we have a $2 million market cap and nothing is being done about it thats why.  If they have given up then sell the shell 99% of the readers on here agree with me enough is enough.  Why are you defending them?  You work at the company?

[ark88]

not defending anyone or any position. Im just pointing out a pattern behaviour that you exhibit and in my experience it is as a basher of a stock. Based on your comments it is impossible for one conclude that you hold long interest in SNV.

[copperplay]

I would love to sell and get out of this POS so pump away 

[GeorgiaStreetE]

The reason behind the bashing isn't something we can conclude -- but yeah, the theme of the posts for months is clear. Buying and shorting are common motivations, but given that everyone here says they're in the same boat I'd guess trying to motivate management who keep an eye on the message board to address the state of affairs. Obviously just a guess, no ill will toward anyone here

[copperplay]

  exactly my point Georgia.  This treatment of shareholders is appalling 

[copperplay]

I do because it appears you attempted to pump up the stock around that time in order to sell your shares.  Your post has no merit and now looks foolish with 25 cents pump payout yet today we are at 1.5 cent bid You get it now dummy 

[copperplay]

  Ark this your post from October so what valuation today for SNV 25%...$50 million? If they have not lost the PSC why not announce this and that continue to work things out?  Stock would jump to 10 cents 

[copperplay]

Back up the truck boys and girls Ark88 knows what he is talking about.  This from October 

[GeorgiaStreetE]

Biden is going to ban Russian oil, and the BBC reported prices could get to $300 / barrel

[SubinC]

Ark ... give it up mate . Don't know why you still keep supporting these hookers at sonoro unless you are Dean... staying on this board because obviously you are jobless. Don't know what to do other than living off shareholder money.. 

[GeorgiaStreetE]

Who cares about this stuff. At some point, oil will reach a price where whoever is dragging their heels on the Selat will take notice and sell it off

[copperplay]

you sure about that?  If true don't you think is valuable information for the market to know this? March 15 is AGM deadline should get a press release before then 

[GeorgiaStreetE]

The market as a whole doesn't care about this company until something good happens for them, and the company isn't driving the bus from a minority position in the ownership of the Selat. When something good happens, it'll be news to the company too

[StratCap]

I agree with this statement. The one thing that has always perplexed me with this management team is why they wouldn't look to acquire another project that would de-risk this very situation they put themselves in. Being a one trick pony and being behoven to Jimmy is just poor execution and its affecting all shareholders.  Unfortunately, trying to find another oil asset when oil is $125

[copperplay]

  funny how people shut up when put in their place with facts

[copperplay]

[RoyMax123]

Ark, SGE don't asked for shares they asked for the SNV 25% part .

[ark88]

its not what they are asking thats imperitive. Rather its whats in the Loan Agreement that is critical. Company should issue a clarification noting the relevant particulars of the Agreement.

[martindale]

That would be quite the deal, 25% = about $700 million, for a debt of a couple mill? Looks like court is where this is going... unless the partner would be willing to pay for SNV s 25%, and that sure doesn’t look like that will happen or it would have already.. the partner has been dealing in bad faith, almost right out of the gate, that alone doesn’t bode well for them in court. Outside of paying

[happyInvestor1]

Time to pick up cheap shares!

[copperplay]

  this is best news for shareholders they lost all control with this partner who played them.  Now time to get control of Sonoro again and build shareholders value and eventually sell the company.  This can happen fairly quickly too and time for Kirk to step up and show leadership 

[happyInvestor1]

Copperplay, I couldn't agree more! 

[Lovethegains]

I do believe this to be true. We shareholders are known for our patience. This story is far from over imo.

[RoyMax123]

Do you really think it's not possible for a crooked Asian companie to buy a crooked judge in a crooked country ? it happen each and every day and between friends it's cheaper than you think.

[martindale]

Yes that’s why I mentioned that...

[RoyMax123]

and you can be assured that it will happen, what they call judge in Asia are called prostitute in the rest of the world

[BCherb]

This whole mess is bizarre, is it that crazy, or more wishful thinking as a shareholder now in this position to think the partner just wanted the 19million shares instead of the $1,615,382 back plus 8%. If things went well, we'd be sitting at potentially $1-$3 range and the company would of either just payed off debt with oil funds or pulled a quick PP. Now partner will receive 19mill shares

[RoyMax123]

yes it's just wishful thinking. 

[RoyMax123]

Why a halt that long for this ??? thay want to make sure it goes to 0