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Perhaps the tree has been shaken enough? Few are looking to buy or sell, low volumes.
Even the folks with contacts are not posting updates. Possible calm before the storm? Information is being held tight.
Sure hope MHT is right about a huge loan in the works.
I believe once the real news starts(loans, income, development, etc.) it won't stop.
Good luck to all
Well, I just hope we're going to get it sooner than later, otherwise we'll have to say goodbye to the 0.50 before Christmas.
Everybody is waiting for an update.
I don't understand why they haven't give us an update already... what the heck is going on?
TenaciousD, any word from your contact?
Thank you MHT, that explained it.
The support at 0.32 is unbelievable, I added another 100,000 shares today.
Have a wonderful weekend!
Please refer to my Aug 9th post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53120670
Re: Canaccord
Yes, Canaccord had received 4 Million shares in the Private Placement. However, they had sold 1.5 million in July (to be covered with the shares from the PP) and sold the remainder thereafter. However, they were big buyers when SNV was trading in the 20-cent range.
MHT, do you know if Canaccord was part of the PP and how many shares/warrants do they have?
Canaccord is the biggest seller in the last 2 days at 0.34 yesterday and 0.325 - 0.33 today.
Thanks MHT.
Here's hoping those three news releases you mentioned in an earlier post come sooner than later.
Good luck to all.
new to this board, but long SNV for years. Thanks MHT and others for all the info, dadora
Re: Questions
If someone is exercising their warrants is the company required to report this? Would this be reported anywhere?
Yes, it will be reported within their next Quartely results.
During that time the stock price was never allowed to run and it wasn’t until all of their shares had been sold that the company released a PR that caused a rise in stock price.
The share price was at $0.34 when Macquarie removed all of it's offers (Thursday, Sept. 23rd around 3:30PM). It immediately jumped, closing at $0.38. The following day, it went as high as $0.43. On Monday Sept. 27th, Mr. Al Shamsi was appointed to the BoD, and the price hit $0.46.
As the warrants have an exercise price of $0.18 per share it seems to fit with Macquarie Capitals MO of dumping at a profit to reduce risk as opposed to holding on to discover what happens with this company.
I would guestimate that at least 2 Million warrants have been exercised thus far. In July, just over 1.5 million shares were shorted. These were covered when the shares from the Private Placement became unrestricted August 3rd. In October, 1 million shares were shorted; presently there are none. I would conclude that these 'shorts' were covered with the warrants.
I also ask this question because, despite what Sonoro says, $2 million dollars is not a lot of cash, especially when they have hired additional people and are looking to undertake a major exploration effort.
$2 Million is enough to pay for the present salaries, rent and daily expenses. The 3 Shell Executives are presently not on the payroll. They have given their notice to Shell, but as of today, they are still working for Shell.
The result would be Sonoro doesn’t have to expedite the expiry of the warrants, the investor decides to exercise at their own discretion. The resulting impact would be more dilution and about $8 million dollars in our account (something a bank would like to see before offering financing at the levels we require).
Correct: As the share price moves higher, the warrants will be exercised on their own, without Sonoro having to force anyone. However, I don't believe any bank will care as to how much money they have in their present account; it will depend on how much future revenue Iraq will bring. We are not looking for a few million-dollar loan; rather a few hundred-million dollar. What do you think would happen to the share price if they got a billion-dollar loan?
My gut tells me the PR about Iraq didn’t produce the desired results (.50 cent stock price) so Wadsworth’s plan needed to be modified. When a company releases information (like the Iraq PR), halting a stock is a great trick for bringing additional attention to a company about to release big news. The only problem was the PR wasn’t as well received as they had planned.
My guess is that the Iraqi news was already taken into account into the share price when it left the 20-cent range. Please see my post from August 9th, when the share price was trading at 9 cents:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53126126
These were my comments at the time: "I'm more interested in comments made by Richard Wadsworth during the AGM regarding SNV acquiring heavy oilfields of their own (northern Iraq maybe???). If he is successful in that endeavour, then the share price will really take off."
If on August 9th, I had already guessed northern Iraq, what do you think the Market was thinking when he appointed the four Executives to the team 6 weeks later?
I don’t have the tools to research my gut feeling, however, my hope is that one of you has the ability to see how many shares ‘Anonymous’ has sold since the last run in price. If my suspicion is right, once we reach the 18 million share mark news will be quick to follow…. In addition to a jump in share price.
Unfortunately, I don't know either how many Macquarie has sold thus far.
I have a couple questions.
If someone is exercising their warrants is the company required to report this? Would this be reported anywhere? The reason I ask is the stock activity has a very similar feel to when Macquarie Capital dumped those 18 million shares (between .12 and .18 cents with a strike price of .09). During that time the stock price was never allowed to run and it wasn’t until all of their shares had been sold that the company released a PR that caused a rise in stock price.
As the warrants have an exercise price of $0.18 per share it seems to fit with Macquarie Capitals MO of dumping at a profit to reduce risk as opposed to holding on to discover what happens with this company.
I also ask this question because, despite what Sonoro says, $2 million dollars is not a lot of cash, especially when they have hired additional people and are looking to undertake a major exploration effort. The result would be Sonoro doesn’t have to expedite the expiry of the warrants, the investor decides to exercise at their own discretion. The resulting impact would be more dilution and about $8 million dollars in our account (something a bank would like to see before offering financing at the levels we require).
My gut tells me the PR about Iraq didn’t produce the desired results (.50 cent stock price) so Wadsworth’s plan needed to be modified. When a company releases information (like the Iraq PR), halting a stock is a great trick for bringing additional attention to a company about to release big news. The only problem was the PR wasn’t as well received as they had planned.
I don’t have the tools to research my gut feeling, however, my hope is that one of you has the ability to see how many shares ‘Anonymous’ has sold since the last run in price. If my suspicion is right, once we reach the 18 million share mark news will be quick to follow…. In addition to a jump in share price.
IMHO
Good luck to all.
I'm glad to hear that, jojoba! I'm sure you won't regret it.
Good luck with SNV and SXL too.
I'm expecting the following news releases next, in no particular order:
1) Iraqi financing and construction dates
2) Albanian pilot plant
3) Update on SonoOil JV
I believe MHT is correct in his assumptions once again, hence I doubled my holdings in Sonoro today at $0.36.
Buying SXL last week was a good decision, it is slowly moving up same as SNV did from the same level.
A very bad day. I forgive you Aslan.
Are you serious? Having a bad day?
I already wrote in my first post that I could be wrong and this was my opinion. In my second post I said "I stand corrected."
I also mentioned that this had no importance on this company, whether true or false. I would not have commented on it if I had not lived here for 30 years and had never heard of the place. Now will your highness forgive me, or is it off with my head! You are being ridiculous, pick on someone else Jojoba! This is the end of this conversation.
DC government was aware of this university even if you were not. Maybe other people were aware of it because it had 870 students (77% from US) and 140 teachers when it closed.
Notable alumni
Howard Carwile, Virginia State House Delegate 35th district 1974-5, Richmond, Va. City Councilman, 1966–73, Va. gubernatorial candidate, 1945, 1953, 1957
Hervey Gilbert Machen (1941), Maryland Congressman
Let's say your MBA is "the best" because you heard about it.
Is it possible the university where you did your MBA to lose the accreditation in a few years for whatever reason? Will that mean your MBA will be worthless?
Guess I stand corrected Jojoba... On the other hand, as I mentioned previously, I grew up in DC, got my undergraduate and MBA degrees here... and have never heard of this University... It's no big deal, a completely insignificant detail for investors of this stock... thanks for the additional info.
It was an university for 130 years until 2009.
Located in southwestern Washington, D.C., in the United States, Southeastern University was a private, non-profit undergraduate and graduate institution of higher education that lost its accreditation from the Middle States Commission on Higher Education on August 31, 2009. The Commission reported that the college lacked rigor and was losing faculty, enrollment and financial stability. The 130-year-old school ceased offering classes after an extended summer session in 2009
http://en.wikipedia.org/wiki/Southeastern_University_(Washington,_D.C.)
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/14/AR2009091401088.html
In all fairness, I have lived in the Washington DC Metropolitan Area for 30 years and have NEVER heard of "Southeastern University, Washington DC, U.S." Out of curiosity I checked them out... Did not find a website or location and their "accreditation" seems to have been taken away in 2009.
Not taking anything away from our major Banker, as I'm certain he is a big shot in the middle east. But this University where he got his MBA looks like one of those where you order your diploma by mail... I may be wrong and this is just my opinion.
Simply
RE: Financing for Iraq
Here's your banker:
-------------------------------------------------------------------
H.E. Hamad Abdulla Al Shamsi
(Chairman Essdar Capital Holdings Limited, Essdar Capital Limited and Essdar Capital Managers Limited)
H.E. Hamad Abdulla Al Shamsi is one of the UAE’s most prominent business figures. H.E. Al Shamsi started his career in the Investment Department of the Abu Dhabi Investment Authority (ADIA) after which he joined the Private Department of the Late His Highness Sheikh Zayed Bin Sultan Al Nahyan as Head of Global Investments.
H.E. Al Shamsi is currently Chief Executive Officer of International Capital Trading LLC whose objectives encompass investments and large scale real estate development projects. H.E. Shamsi is also Chairman of Al Qudra Holding, a leading private strategic investor in the Emirate of Abu Dhabi, and is a Director of the Board of several leading institutions engaged in commercial, financial and service based activities such as Etihad Airways, Finance House and Qatar telecom (Qtel). In addition he is a member of the Board of Directors of the Abu Dhabi Council for Economic Development and Chairman of the council’s Business Environment Committee.
H.E. Al Shamsi is a graduate in Business Administration from Al Ain University, UAE and holds an MBA majoring in Finance and Banking from Southeastern University, Washington DC, U.S .
-------------------------------------------------------------------
I'm expecting the following news releases next, in no particular order:
1) Iraqi financing and construction dates
2) Albanian pilot plant
3) Update on SonoOil JV
I held 100,000 SNV shares only. I am wondering when we'll get the update from Albanian JV. Sitting on cash ready to buy on good news or a dip.
Just FYI, I purchased 100,000 SXL today at 0.175 for a trade. It may settle at 0.25 in 2 - 4 weeks time.
That would be nice. Let us know what you find out!
Mf22
nice find, well within the scope of possibilities. If this is related we could see the best pps yet. I will try and snoop a bit with my contact
D
Possible sign of things to come???
I was poking thru Bankers Petroleum October 7, 2010 Press release. I wonder if the “new proposals to purchase Patos-Marinza crude at a price range between 66% and 68% of Brent Price” relates to Sonoro? We could be very close to seeing some great news out of Albania.
Excerpt from Bankers press release:
The average Patos-Marinza oil price was US$46.61 per barrel
representing 61% of the Brent oil price compared to the second quarter’s average oil price of US$47.12
per barrel(60% of the Brent oil price).
Crude Marketing Initiatives / Working Capital
The company has received several new proposals to purchase Patos-Marinza crude at a price range
between 66% and 68% of Brent Price. The company is currently finalizing new and current marketing
agreements for 2011 volume deliveries and pricing.
Hey nothing wrong with taking a profit, thats why we are here :) Congrats I just hope you held a little back in case of a good run, the way this company is set up I think they will get investors as opposed to dilution.
D
MHT
from what I see, alot of the iraq business depends on albania. Is there any info at all( i have spoken to the company, some want to issue pr, others don't) as to when there might be a pr., or any other info.
tks
MHT, you did very good with your predictions, but it was safer for me at this point to lock in my 270% profit.
I'll buy back as soon as I see some positive cash flow and understand beyond speculation how they'll finance their next projects and operations.
Financing for Iraq
When I called the Company last time, I queried as to how they were going to raise the cash for Iraq. I was told debt financing. Hence the last addition to the Board; he's our connection to the big banks in the UAE. They are not contemplating any additional equity financing.
I stand by my previous prediction: As soon as the Albania results are in, the share price will settle in the 50-cent range. If they can add contracts upwards of 10,000 bod in Albania, it will go over $1.
I was holding from low 10s and added along the way, but I decided was time and took a good profit myself at high 30s. I am worry about big dillution coming when they need the money to develop the facility in Iraq.
Until I get a better understanding will only try playing the swings in small positions from low to high 30s.
there a lot of profit in that range for .09 centers. It will dissolve slowly and .50 is on the horizon.
D
translated = H U G E !!!!!!!!!!!!!!!!!!!!!
D
Reading thru the Asphalt License Agreement, it's posted on Edgar.
I am reading between the lines, but it looks like Sonor will be allowed to spend up to $100,000,000 usd per year on field development. Wadsworth will have to come up with some interesting financing to come anywhere close to that amount. Nice to see the huge up side.
It also states Sonoro is required to construct a topping facility capable of producing an undisclosed amount of asphalts. Wish they hadn't blacked out the details, you know the company would be looking to maximize their ROI, it would give us an idea on the min amount of asphalts we could expect to be processing within the next 18 months.
In the end, all references to production targets are blocked out as, "technical information", "commercially sensitive info" or "preamble info"
Do your dd.
Good luck to all
It feels as though every time it gets close to .36 cents, they beat it down...
Oh yeah, you were right... well well, that sounds good....
Just Amazing
Follow a stock long enough, and you get to know exactly when an Insider buys or sells, just by his trading pattern.
Adam bought just as I suspected:
http://www.canadianinsider.com/coReport/allTransactions.php?ticker=snv
Yes... He's been buying quite a lot lately... does it mean someting? .... I guess we'll find out soon enough...
All of the News is Already Out
When they release the press release on the opening of the Albanian plant, it's not going to be any new news that will prevent the Insiders from buying at the present time, and right up to the day of.
They already released the news within their Q2 Financials that they expect the plant to come on-line in the Fall of 2010. As such, since they already reported this, they are not blacked out from buying right up to opening day.
The deal with the acquisition of Iraqi oil fields was news that prevented them from buying more. It was obvious that something was in play when they announced the 4 heavy hitters to the Executive Management team. However, they were prevented from buying during this time until that deal was announced. The moment that deal was announced, they started buying... and they will be allowed to keep on buying right up to the opening of the Albanian plant.
Speaking of Insider buying, did anyone notice the following trade that just went through a few minutes ago?
15:02:58 V 0.335 0.02 3,000 59 PI 124 Questrade
15:02:58 V 0.33 0.015 52,500 59 PI 79 CIBC
15:02:58 V 0.325 0.01 43,000 59 PI 1 Anonymous
2 - 3 weeks is resonable, begining of November perhaps
Oh, I know that... of course... a meant a NR in a week or two maybe... not on Monday ;)
The insiders cannot buy just before the news, there are certain regulation rules and blackout periods they have to respect.
Hey MHT, I hope you're doing well... Tell me, from your past experience with Sonoro, would you say when insiders are buying shares a good NR isn't that far? or both things are not necessarily related?
Insiders Keep on Buying
Again today, they bought another 132,000 shares, in four transactions, for a total of $41,490.
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=snv&x=40&y=2
They just haven't stopped buying since August. Maybe they are on to something?
MHT, you have your fans on Stockhouse.com too...
By whitecar:
''Thank you also MHT for your profound insights and cheerful prognosis. Your wisdom far surpasses Ivrogne's prognosis. Although I can understand Ivrogne's wishful thinking, since he probably does not own any more SNV shares, having sold them too early. I am also in the long for at least $1.00. With nearly 500k shares I should do all right for my retirement. I truly enjoy MHT's comments.''
Thank you MHT! Your opinion is always very much appreciated...
Thank you MHT for your post, outstanding as always. I doubled my position in the last 2 days and I am waiting now for Albanian update.
Yes, I have recently talked with the Company.
Richard Wadsworth is presently conducting a promotional tour. On Tuesday and Wedsnesday, he was in Toronto, meeting with several brokers and fund managers to promote the company.
Today he arrived in London (England), again to meet with several people over the next few days.
Although Albania is a bit behind schedule (dealing with one delay after another: From the Ash Cloud to the Albanian Government last-minute requirement of an Environmental Assessment before they were allowed to proceed with the plant construction), things are progressing nicely, as they are now in the final stages.
I stand by my targets from my August 21st post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53585428
At the time, I stated that:
* It would remain within the 20 to 25-cent range for the remaining two weeks in August, with dips below 20 cents. Looking back, it remained within this range, with a dip to 19 cents.
* It would surpass the 30-cent mark once they announce the subsequent addition to the team. I didn't expect this to happen until after Labour day. The share price surpassed this level with the addition of the 4 heavy hitters to the Executive Management team on September 22nd.
* That it would trade as high as 40 cents by the end of September. Granted, I assumed that the Albanian results would have been out by then; nevertheless, I did say that the sky would be the limit once they acquired their own oil fields. The share price hit 46 cents after their oil field announcement.
Although the threat of the warrants remains, I had calculated that the Company is flush with cash and that there would be no need to call them in at the present time. This was confirmed to me after having talked with the Company.
As such, I still believe that the stock will be trading in the 50-cent range by years-end; I don't mean touching, rather consolidating within that range.
Originally, I had predicted that the share price would be over $1 with contracts -similar to the Albanian venture- upwards of 25,000 bod. However, given the latest acquisition of its own oil fields, I predict that they would only need 10,000 bod to get the share price over $1.
Obviously the Insiders know that things are only going to get better from here on in, because they have been buying like crazy over the past several weeks:
http://www.canadianinsider.com/coReport/allTransactions.php?ticker=snv
Quote - INK RESEARCH:
Between October 4th and 5th, Sonoro Energy (SNV) CEO Richard Wadsworth bought 207,000 shares in the public market between the prices of 33.5 and 34.5 cents. The CEO now holds 3,133,000 shares of the company representing 2.6% of the stock's quoted market value based on SEDI filings.
The insider with the largest beneficial ownership of company stock based on SEDI filings is executive board chair Adam Sumel who holds 3,170,455 shares.
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