Sonoro Energy Ltd. V.SNV

JOA

[MJB4231]

No JOA.... No news release. Nothing can proceed without it unless Jimmy buys in to SNV. Have a great day

[copperplay]

Reserve report can not be completed without one too confirmed by the company 

[MJB4231]

Soooo what you're really saying is we are exactly where we were 3+ yrs ago when signing PSC?

[ark88]

What do you mean?

[MJB4231]

Based on required JOA for reserve & advancing partnership. JOA is the reason we've been sitting here waiting since we signed PSC. Jimmy's reluctance to commit and sign may still be the issue

[copperplay]

  but why continue to lead them on and believe he wants to work together?  This guy is evil and shareholders paying for it What in gods name is his reason now?  This should have been done Monday if he wants to start wells in Q4 

[MJB4231]

Patience required again... Nobody thought day 1 of Q4 production would start. We will get clarity of our partnership before anything else I feel. We've waited this long what's a few more weeks

[ark88]

Not sure I agree that the JOA is required first in order to complete the RR. The June 20 NR clearly states Sonoro will commence immediately to complete the RR. I believe the RR has been completed, once again. The previous hold up had to do with commercial and operational issues between Sonoro, SGE and SKKMIGAS (as per NR of October 1, 2021). Kirk gets another kick at the can with a new RR

[martindale]

Also of note and I am guilty of not realizing it as well... the last release does state that the mou is Binding...as such there may be no need for a JOA depending on what is in the binding MOU..once again we are still in the dark but I hear mushrooms flourish best that way.. GLTA 

[ark88]

If the Parties ever needed any reason to start Selat Panjang: 1. China 13+% world oil consumer in Covid lockdown. 2. USSR oil and gas embargoed for the forseeable future. 3. US Dollar 40+ year high. Any weakness will boost commodity prices. 4. US Stategic Oil Reserve nearly empty. 5. Supply dimishing as a result of decades of lack of investment. Time to sign and get on with it!!!!!

[MJB4231]

All very logical points... Unfortunately nothing has been logical with this advancing

[copperplay]

  a JOA is needed 100% this was confirmed by Sonoro 

[martindale]

I stand corrected... ty copper... 

[SMlachake]

So as things stand, what is he holding out for? I mean this is not good enough share price for him?.. or there is more negotiations as to SNV final stake? Just can't wrap my head around the delay.

[SubinC]

I am still confused what these dudes were doing at the working meeting with SGE.. lol. Partying and drinking beer ? Wasn't all this supposed to be sorted out ? The JOA should have to just be a formality followed by oil production and reserve report. But here we are 3 months in and nothing to even show for. most people saying Kirk is in Indonesia visiting the site. So what's going on then

[BCherb]

Partying and drinking beer is actually a business custom, or etiquette in Asian countries. "Social activities that involve drinking make perspective foreign business partners more trustworthy", Martha Hunter Albritton wrote a thesis on the subject. So I hope David and team are holding their own with the Ballo

[copperplay]

  heard same thing about recent visits to Selat Panjang site  tic tok 

[ark88]

Yes, I agree definitely not logical. But context and the changing economic environment can have a large impact and we have the right confluence of factors. Time to sign and get on with it!!!