Sonoro Energy Ltd. V.SNV

Old saying

[MJB4231]

If SNV strategy is bringing SGE into SNV ownership . .. "Keeping your friends close and enemies closer"... It's fukn brilliant and secures us without need of a JOA

[copperplay]

  it's no strategy Sonoro owe SGE about $2.3 million dollars of which will be given in stock and yes once they own that much SNV shares will be aligned with all of us to get maximum value  Our partner are one of the largest private companies in Indonesia and my guess will eventually buy all of Sonoro 

[MJB4231]

Perhaps they have already... Who knows

[ark88]

Old: ...SNV will get 24% additional ownership of PSC after completion of project milestones. New: ...will transfer a TO BE DETERMINED additional ownership position in the Selat Panjang PSC for a  commiserate equity position in Sonoro. I will take commiserate as meaning commensurate as in corresponding in size or degree; in proportion. 

[SlyFox1]

Ark can you provide more context. Would your take be that SNV is still entitled to 49% as they have always been. So if our partner was to take a percentage in SNV it would result in additional percentage being added.  In the highest case if they were to get 51% ownership in SNV, it would mean SNV would own 100% of selat.  would be my dream scenario personally 

[ark88]

IMO, what hasn't changed is the sequence of what needs to be done, RR, work program et al. These milestones create value, which was previously quantified as 24% additonal ownership in the PSC. Now, the formulae has changed to TO BE DETERMINED additonal ownership AND a commensurate SGE ownership in SNV. The MOU was executed to formalize this new condition. The key here is not how much SGE wil

[SMlachake]

In essence, how I see this whole scenario, even with some dept to pay, when adjustments are made to take care of all that, SNV should be coming off with at least 25%.. probably more. This may be what SGE has a big issue coming to terms with. But who cares.