Sonoro Energy Ltd. V.SNV

More buyers then sellers, lets be positive!

[happyInvestor1]

1	5 000	0,02	0,025	377 000	8
12	1 462 000	0,015	0,03	726 000	6
10	980 000	0,01	0,035	17 000	2
3	350 000	0,005	0,04	396 000	5
0	0	0,00	0,045	116 000

[copperplay]

As bad as things look now can change with one press release or one big buyer Yes remember management own millions of stock at 6 and 7 cents average so they must see this through  This stock not for the weak stomach tho...great buying opportunity I added more today 

[SubinC]

I am not sure management holding shares at a certain price is a good thing, because their shares are held as OS. People like us are retail traders are part of the float . Can't they just do a reverse split and dump on us ?  I am not arguing with anyone , this is my what I feel. also knowing this management, they do not work to create shareholder value. 

[copperplay]

your not wrong Subin at all why this management team needs to start buying up shares in open market or finance the next pp in order for people to trust them  they have done nothing in 3 years but are stuck in snv until an exit happens 

[SubinC]

Man this Dean and Kirk boys seem to be some big time losers. A high school kid would do a better job. Are these guys atleast educated?  Gosh.. how can you get this wrong all the time . Consistent losers.

[StratCap]

  Really not sure how you can blame Kirk for this. He was brought into the fray to help solve the issue. Unfortunately, the sh!t was already running downhill when he arrived. SGE set out on this plan long before Kirk was brought on. Im hoping Kirk has a solution to this problem and can start putting positive energy into something new.   From the September 30th news release

[copperplay]

  yes they can save this company and its shareholders if they close on a deal now!!  Can raise money with warrants that expire at end of year.  Shareholders speak up.  Call, email and post get this done now waisted too much time 

[copperplay]

expect a rebound in the stock this week 

[GeorgiaStreetE]

There is a positive here -- now we know the partner actually wants the PSC, there's just a disagreement over how much they want to pay. Now, with Trump-style negotiation, Sonoro is coming in asking for any amount at all, instead of fair value.

[ark88]

As I said, the best option for SNV at this point is to accept a buyout offer from SGE. In the meantime, SNV has to play hardball, top up the treasury and prepare for a long fight. The 5 year, $74 million commitment of the PSC is a ticking bomb that plays into SNVs hands. SGE could lose it all if this drags out. So what is the price for SNV to walk?

[copperplay]

  are you assuming this or speak to Dean?  As far as I know it's over time to move on and announce new business...surprised it's not announce today 

[ark88]

Last I recall, the minimum price of PPs on the Venture is $0.05.

[copperplay]

  unless you consolidate the stock first  if what your saying is true and Sonoro expecting a payment from partner we would be at 10 and not 2.5  they only way out is a new business venture call dean he will tell you 

[copperplay]

don't you think SNV would love a buyout offer at this point for shareholders?  Then cash out or find something knew? When is this buyout offer coming?  Your an idiot but if you believe why not buy up all the 3-5 cent shares available? because your grasping at straws...and I have not been wrong yet predicted this exact scenerio was coming 18 months ago just got greedy and held on...

[GeorgiaStreetE]

The potential outcomes here are knowable, Copper. If you're holding shares, they are lottery tickets on the gamble that the partner needs to pay Sonoro, or lose their interest as early as November 25. Only the partner knows if they have a reason to want to buy Sonoro out, or if they want to wash their hands of the whole thing. No need to ask anyone at Sonoro or try to guess their motivations -

[copperplay]

Ok thanks finally a good answer but based on trading not expecting anything.  This partner was evil from the start trying to help get Budong back and red flags with no JOA signed in 3 years

[copperplay]

  who's decision is it to put an end to this?  Skk Migas or Ministry of Energy?  This could take months and months?

[GeorgiaStreetE]

Presumably the partner wants to sell their interest before they lose their investment, or they would already be ignoring us. For all we know they have something lined up and want to keep it all for themselves

[GeorgiaStreetE]

What I'm saying, Copper, is that the partner's deadline to sell is likely when they start to risk losing their interest in the PSC.

[MJB4231]

We are at that point or very very close

[copperplay]

  unless this Jimmy guy really controls things over there usually when you don't meet spending budgets you committed to and the deadline to spend those amounts passes...the license gets pulled as MJB said we are there now year 2 deadline was October 15 unless they arranged some COVID extension and didn't tell Sonoro   

[copperplay]

  they get 100% of the PSC because Sonoro has not paid back their loan in the time agreed to 

[ark88]

......SGE "requests" release of SNVs 25% interest. SGE did not "demand" SNVs 25% interest. Critical difference if SNV does intend to pursue retaining its interests in Selat Panjang.

[copperplay]

  looks like someone at Scotiabank agrees with you big buy just now over 200,000 shares 

[ark88]

The said convertible debenture matures on November 25, 2021. Until said maturity, it's all just talk. Based on SNVs press release, by November 25, SNV has the option of paying the principle plus 8% interest or issue 19 million shares to SGE. For SGE to "request" release of interest sounds rather soft and premature. IMHO

[copperplay]

  I don't think this is an option based on my discussion with the company before asked this many times.  Find out for sure and let us know Once they announce new PSC or new business this stock will get back to 10 quickly   

[StratCap]

  The following excerpt is taken from the press release in October 2019 announcing the debenture with the partner: The Debentures may be converted into Common Shares of the Company at any time in the first year at $0.085 per Common Share. Debentures converted in the second year, before the expiry, are convertible at $0.10 per Common Share. As previously announced on October 11, 2019 the

[GeorgiaStreetE]

I fail to see how this doesn't just read that the partner takes shares if Sonoro fails to repay in cash by the maturation date.

[StratCap]

  Agreed.  

[MJB4231]

Let me clear... Absolutely NOTHING was done at Selat or infrastructure without a JOA in place for this exact reason to not get burned by a scumbag partner. My own belief is also that the details will show that 1.6 million is not owed or used because JOA was never signed. Everything hinged on contract signed. Good on management if this is the case

[GeorgiaStreetE]

So then the partner is asking to avoid taking the shares because they'd further be tied to us, playing chicken on losing the whole thing, and offering nothing in return in negotiation. Our only option is to get paid fairly for what is ours, or cause the partner to lose their 75 percent when the government takes it all back. I hope management stays the course and demands fair value buyout or

[copperplay]

  we are past year 2 so the partner shares if you believe will be converted are at 10 cents that is 400% gain so buy away 

[RoyMax123]

That doesn't mean that the SP have to go to .10, That just mean that they will issue 19M shares for the 1.9M debt.

[john2305]

Maybe after getting the 19 M shares the put out a bid for all shares at a low price.

[copperplay]

  The longer we stay at 2 cents the more diluted we will be cmon boys get another update out there to help reverse takeover 

[copperplay]

  so based on this theory you honestly think the partner will take the 19 million shares and sign a joa by November 25?? There is no chance we are trading at 2.5 cents?  Jimmy is powerful in Indonesia if this goes to a judge just like people have been posting  They need to move on and believe they know this or management would be buying up all the cheap shares   

[copperplay]

  Ark did you get confirmation on this ?

[ark88]

I did get a reply, stating that they are doing everything they can to protect their position in the Selat Panjang project.

[copperplay]

  sure doesn't look like with 2.5 cents stock available that no one "in the know" want to buy  they are working on a new project also but knowing this group will take a very long time 

[GeorgiaStreetE]

Disagree. Plenty of bids out there, just no sellers at two cents. No need to get panties in a knot, it's a disagreement over price at this stage. We have something the partner wants and they can pony up or lose their end as well.

[ark88]

Precisely. We have no choice but to play hardball. The clock is ticking for SGE and they could lose the whole thing. So, what is the price that they're willing to pay and for us to accept?

[copperplay]

  I hope your right and get something 

[copperplay]

  if Sonoro is to receive any sort of payment from partner would expect it to happen in November but at this point not looking good.  What is positive is a new project and partner in the Oil and Gas space is being worked on at the moment and market is hot right now and also expecting this in November