Sonoro Energy Ltd. V.SNV

Took my own decision

[Tree2tree]

..to salvage what I can from a sinking ship.  Sold my last 800k shares.  Left with 500k 'perpertual' warrants which have no market anyway.

I did the simple 'would I buy' test.  If somebody introduced me to SNV today, after doing my research, would I buy at 2 cents?  No way.  Yes, there is always hope for a miracle, but objectively, it is looking extremely unlikely that SNV will ever come out of its coma.

A company needs two main things to succeed: good assets and good managament.  Concerning assets, there is no good evidence that SNV still has effective control over any assets that it can either develop or sell.  We are learning that in Indo, there are many ways people can take away assets you thought you 'owned', and nobody even has to give you an explanation.

Concerning management, well that's where things are even more clear.  Do we have management that has any ability to get anything done with its maybe possible assets? NO.  And I have to come out and say that I don't think they have ever been straight with shareholders, on the rare occasions that they do communicate anything.  The most horrendous example is the reserve report - after promising it so many times, what exactly prevents management from releasing it?  Dead air.  Management surely has its own internal thoughts on this, but to the world they are in a coma.  (Maybe potential for a class action here, but I'm not going to make that my mission.)

Ok so you can call it a lottery ticket and say there is still a remote chance that things may still work out.  But there are any number of long-shot, potentially multi-bagger stocks out there that you can throw darts at.  Now I have a bit of cash from SNV that I can use to buy new darts, and maybe win back some money.  So much for retiring on SNV ha ha.

[babyofbullion]

Thanks for sharing Tree. Your logic is good so even if Sonoro get out of this with a much higher share price you can still say that your decision was based on solid logic rather than just impatience.  I'm holding 200k shares and will hold them until judgement day. Better to just wait at the bus stop rather than jump from one to another. 

[babyofbullion]

And one other thing - it will be interesting to see if the buyer loads the bid up again at 2c. Not looking that way at the moment anyway. 

[MJB4231]

Definitely everyone is frustrated here. Kinda coll you sold and obviously for a loss but came on and shared. Hoping that if we get some great news you can jump back in. I for one continue to hold... Been 5 long yrs plus and Ramadans.

[eXclusif]

Why must you drag Ramadan into this all the time?  You can easily end at "5 long yrs".

[copperplay]

  because Ramadan was once used a the reason for delay in signing JOA back in 2019 so what now SNV???

[MJB4231]

Lmao... If you have been here as long as me I get to count Ramadans as was a delay excuse twice / Then Jimmy's family died / Covid Yada Yada. Not too mention the large share count I have. I've earned the right to be critical

[StratCap]

  ok... how about 5.5 Christmas' celebrations?  

[copperplay]

Where is Ark or Georgia  if Selat PSC is still alive as you both hoped why is SNV valued at $2 million?  Why are you not backing up the truck here I live in the real world and have seen these situations before only way out is vend something new into this or we are done 

[Goldy63]

Sad but well said. Its why I transferred a good portion of my oil share wealth into Pulse. Real daily oil revs and from last report more BOE/D on the way. Still have a small amount here but like you said Tree waiting for a miracle don't make it so till it happens. Glta. Unreal what management had and potential for us retails and let slip thru there fingers yet again a la Budong and what 9

[GeorgiaStreetE]

Best of luck!