Sound Oil Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9676390
Just checking your payslips and bank accounts must be like a full-time job but when you have to be Chairman AND CEO, (not to mention Chaiman of another company AND non-exec Director of ANOTHER), phew!!!!
Imagine you have to own and garage two or three wheelbarrows [just to carry your cash around in on various continents].... You have dinners, functions, charity-do's, .... how do you fit in time for a shower? And sex: do you get time for sex, or does the money cause you to spontaneously erupt as you study your bank statements?
Perhaps chance encounters with the likes of Lard Lament or Baron Debenhams, over a bse-burger is eough to make you celebate????

Well, anyone going to the AGM, please lay into the "old man" and ask if there is any oil or gas to be paid for (by a customer) in the next 6 months or are we to be saddled with LIABILITIES (costing more than they are earning or can be sold- right now - for)

I know one LIABILITY we could cut immediately......
Am I being too harsh? By entropick ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9676390&action=detail Thu, 24 May 2012 11:09:00 GMT entropick tag:iii.co.uk,2003:tst.9676264 sou By etadelete ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9676264&action=detail Thu, 24 May 2012 10:46:00 GMT etadelete tag:iii.co.uk,2003:tst.9676234
I used to be dark haired , wealthy and enthusiastic
now im wrinkled, skint, bald and cheesed off and i live in cardboard city......but at least ive still got me sound shares to leave in my will to some poor sod! By midgehole100 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9676234&action=detail Thu, 24 May 2012 10:40:00 GMT midgehole100 tag:iii.co.uk,2003:tst.9676048 By entropick ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9676048&action=detail Thu, 24 May 2012 10:07:00 GMT entropick tag:iii.co.uk,2003:tst.9676001 Friday, Mar 25 2011 by Ben Hobson .... [Stockipedia Co UK.. incase it gets "wiped"]
6 comments
11
Gerry Orbell Chairman and Chief Executive Sound Oil plc
Gerry Orbell, Chairman and Chief Executive, Sound Oil plc

Gerry Orbell was skiing in Courchevel when he got the call inviting him to run a new oil and gas company. At the other end of the line, Gavin Wilson of RAB Capital (LON:RAB) set out his plans for an AIM quoted ‘cash box’ targeting assets in West Africa. For Orbell, who says he was simply “minding my own business as chairman of Antrim Energy”, the prospect offered a new challenge and one which he concedes has proved to be a long, hard grind. Nevertheless, after five years of highs and lows, Sound Oil (LON:SOU) is about to see drilling get under way across its portfolio. The focus is on near-term gas exploration and production from its flagship projects in Italy and the prospect of high impact exploration drilling on projects in Indonesia.

Sound Oil floated on AIM in June 2005 and 12 months later diverted from its original African strategy with the reverse acquisition of Mitra Energia, an unquoted gas exploration company in Indonesia. The deal gave it a 34% stake in the Bangkanai Block onshore central Kalimantan and a 20% interest in the Citarum Block onshore central Java. However, appraisal and development of the two highly prospective assets was frustrated by slow progress by their respective operators. The good news is that both projects are now in the hands of new operators. At Bangkanai, where Sound Oil slashed its holding to a carried 5% in May 2010, Salamander Energy (LON:SMDR) has taken control and is planning two exploration wells this year and development of the Kerendan gas field, which lies on the licence. At Citarum, three new exploration wells are expected in 2011 under the operatorship of TSX-listed Pan Orient Energy (TSX-V:POE).

Meanwhile, Orbell is working hard on a range of prospects among a portfolio of 17 oil and gas exploration permits and applications in Italy. These were acquired as part of Sound Oil’s acquisition of Consul Oil & Gas last December – another of Orbell’s directorships. The first development here is expected in April when a rig is due to complete two key intervals in the Marciano-1ST well, which are estimated to contain 2.5 billion standard cubic feet of gas. The well lies on the company’s 99%-held Fonte San Damiano concession in Basilicata, in the south of Italy, and production into the local energy grid is expected this year.

Gerry, tell me about the early days of Sound Oil?

I had known Gavin Wilson at RAB Capital for a while and the idea was that Sound Oil should be a West African venture but, unfortunately, anything in West Africa was much more than the money we had in the box so we started looking for other things. Ultimately we came to Indonesia and took over a small company there for shares and raised some more money. It has been a very long, slow, hard grind but we are getting to the point now where we look as if we might actually be drilling five wells there in the next year or so.

It sounds like the pace of development was not fast enough for a small E&P company to sustain itself. Is that right?

I think that’s right. People who invest in small cap companies don’t expect miracles overnight but they do expect some action. When you look about, most of the small caps have got high equities and operatorship in their own licences so they hope to be able to control the pace. Very often the trouble is that they don’t have enough money to sustain that 100% position. But that is the way forward if you want to get going. You have to be your own operator and you have to have most of the equity otherwise sometimes the operating partners don’t operate quickly enough, they have other distractions, and sometimes, if you have a large amount of equity elsewhere in the licence, people vote against you.

In our case, what By entropick ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9676001&action=detail Thu, 24 May 2012 09:55:00 GMT entropick tag:iii.co.uk,2003:tst.9675976 Lest we should lose sight of reality.....

The cobbling together of Sound from "body-parts" by Dr Orbell is documented [loosely] during the "good times" of seemingly exponential optimism and "upward-only" price-rises, akin to a Thatcherite, commercial-rent boom.... Don't laugh; you may induce cardiac-arrest!

The cast of characters and companies reads like a list of who was scratching who's what, whilst watchin who's whatsit.. (imv)......... as I said last year......... (shame I didn't listen to myself)..........

I recommend you read (with the full wisdom of hindsight) the "interview" by Ben Hobson, I have provided the link for, below.

Note, with interest, how Gerry's words haunt the net.....

[Question: Ben Hobson] "It sounds like the pace of development was not fast enough for a small E&P company to sustain itself. Is that right?"

[Answer: Gerry Orbell] "I think that’s right. People who invest in small cap companies don’t expect miracles overnight but they do expect some action."

"Coming back to the issue, we looked around last year and said: ‘If we go on like this we’ll all be old men and we’d have done nothing, so let’s get after it’."

One can see how Wilson (Please do not confuse your Gavins..... there are others of the same name.... check them all out under Google "Images" before leaping to conclusions)..... one can see how he latched on to his "contact" Gerry [and vice-versa]...... Sole investment manager for the RAB Energy in 2004, Gav soon had his old Canaccord colleague, Mark Redway, in tow at RAB.... and times were amazingly good...... Does Gav still have his (just under 3%) holding in Sound? We will never know... what do you think? [He did "specialise as a broker for 20 years", so he would have plenty of contacts to enable an "off-load" back in the 4p days..... but he could be there, loyally, standing by Sound/Gerry..... as I say, who knows? No doubt, he will regroup, re-establish and "be there" for his old mates at "some point" in the future..... who knows?

The general message of "smiles in the sunshine, tears in the rain", with regard to PI's comes across quite well in this article (imv), as does the relaxed and relieved spirit of optimistic confessional from Gerry....... but do I detect a lack of real substance? A lack of substance and "old pals corroborating each other's business judgements" I suspected last year?

Is it all a bit Greco-latin economics? Spend, spend, spend, borrow, spend, spend spend, borrow, spend....... Who knows? Does Gerry?

http://www.stockopedia.co.uk/content/gerry-orbell-raises-the-volume-at-sound-oil-55148/#comments By entropick ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675976&action=detail Thu, 24 May 2012 09:48:00 GMT entropick tag:iii.co.uk,2003:tst.9675916 http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675916&action=detail Thu, 24 May 2012 09:34:00 GMT the_knight tag:iii.co.uk,2003:tst.9675667
Ive been in here for around 15 months now, still confident it will come good By matt2mc ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675667&action=detail Thu, 24 May 2012 08:52:00 GMT matt2mc tag:iii.co.uk,2003:tst.9675623 http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675623&action=detail Thu, 24 May 2012 08:41:00 GMT rags2riches69 tag:iii.co.uk,2003:tst.9675605
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What a ridiculous suggestion Matt


Why would gerry want to buy your shares for 3p.??........... when he can have mine for a quid

Seriously Matt.. in a few months 3p will seem like an eternity behind us.

B_B By Bazil_Brush ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675605&action=detail Thu, 24 May 2012 08:36:00 GMT Bazil_Brush tag:iii.co.uk,2003:tst.9675555
My patience is waring very thin at the moment.

Rags By rags2riches69 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675555&action=detail Thu, 24 May 2012 08:25:00 GMT rags2riches69 tag:iii.co.uk,2003:tst.9675197 http://www.youtube.com/watch?v=T0dUNqY1nmU&feature=related

Tell it to me brothers and sisters!!! By entropick ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9675197&action=detail Thu, 24 May 2012 07:08:00 GMT entropick tag:iii.co.uk,2003:tst.9674969
What a day Pan Orinet had well done them, lets hope for more good news from POE over the next few days or next week, as the AGM is the 1st of June hoping Gerry may release news on Italy before then.

Someone mention on LSE about POE putting in a bid for Sound, if 'm honest i doubt it very much as most of our plays are in Itaty, however at this price we must be very cheap for the big boys sinffing around at the moment.

Rags By rags2riches69 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9674969&action=detail Thu, 24 May 2012 02:10:00 GMT rags2riches69 tag:iii.co.uk,2003:tst.9674802
............................................

possible newsflow in remainder of may and june

Jatayu Result *

Kerenden First Spud * ( five well campaign )

Cataka or Gelius Spud *

Nervesa Discovery Appraisal Spud *

AGM *

Possible JV announcement on an Italian discovery asset * By Aimstars ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9674802&action=detail Wed, 23 May 2012 22:08:00 GMT Aimstars tag:iii.co.uk,2003:tst.9674518
crude....in the mood! By crudehope ]]> http://www.iii.co.uk/investment/detail?code=cotn:SOU.L&display=discussion&id=9674518&action=detail Wed, 23 May 2012 20:01:00 GMT crudehope