Sonoro Energy Ltd (SNV)

[killawhale]

While I hear you on the frustration part, I remain of the opinion that SNV lies somewhere in between both of your posts. MHT brings up some good points but the I disagree that we are funded well enough to drill. (we had 7 m as of jun 30th probably down to 4-5 million now with estimates of 10 m to drill). I do think that there is still some serious potential here but I am less optimistic based on this last years events. I will say that I also disagree with garbage when you say that they have nothing to show for the 15 m we got in PP. Bottom line is that O&G is an extremely capital intensive industry regardless of where it is, but the fact that SNV is in Iraq only makes it more expensive. These things costs money and lots of it. Especially when you consider all of the factors that go into it. I am not sure how it works in Iraq right now but I imagine there are plenty of holes to jump through and lots of fees and regulations. They have gotten a lot done since then, most importantly in getting an updated resource report. Given that, it does not change the fact that they have literally missed on every single operational deadline. I am still a holder at this point but it is 25% delusion, 25% I just can't force myself to click the sell button down here, and 50% I think they can still get a Farm in...at this point it is a waiting game and I feel lower prices are to come. While my investment never started this way, I guess I am prepared to go down with the ship at this point...