Sonoro Energy Ltd (SNV)

[killawhale]

I agree, mgmt has let me down in terms of the ability to execute pure and simple. Not have they been late in almost everything they have set out, they have also mis-judged their resources (most importantly their cash resource) which is a huge let down to me. I agree with BWLD on Rafuse cutting back, that perhaps in unison with the lack of insider purchasing for the last three months have been the biggest negatives for me. I imagine the contracts haven't been finalized because what drilling company is going to finalize the deal with a company that has no money to pay them. At this point a farm in is our only option (a PP down here would kill the stock. The company definitely is in no position to bargin however the flip side to that argument is that at these prices SNV doesn't have to offer much to make mucho profits for whoever comes in...we all know if they are able to drill, the $$ will flow. For a company looking to gain access to the Iraqi area, SNV with their resource base and current mkt cap to me seems like a great opp and that perhaps is their biggest bargaining chip. JMO