Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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We are pleased to have settled our outstanding tax matters such that we can optimise our resources on field development.
Post period end, the Company has entered into a full and final settlement of its tax disputes with the Moroccan tax authorities, subject to the Court agreeing that all cases be withdrawn
https://www.londonstockexchange.com/news-article/SOU/final-results/15942709
Graham Lyon, Executive Chairman said:
"2022 was a year of real tangible progress for Sound Energy, with the micro-LNG development at Tendrara contracted to deliver maiden revenues in early 2024. I am pleased that, as we move further into construction activities, the Company continues to uphold all our ESG values and deliver our work in a manner commensurate with our principles. We are pleased to have settled our outstanding tax matters such that we can optimise our resources on field development. We have enjoyed a supportive working relationship with ONHYM, the Ministry and our various contractors in Morocco, and, most importantly, we continue to benefit from the hard work and dedication of our own staff. We will continue to work diligently to deliver value and progress for all our stakeholders during 2023 and beyond as we target to deliver material developments.''
Hello Crude, the Moroccan trip was something great to remember ( not the failure of the drill ) throughly enjoyed it & met some lovely people, yes!! That Taxi ride was unforgettable?
Hey Mebo, like you I believe there is a chance for long holders to recoup - and even make money, here at Sound. All depends on how loyal shareholders are considered regarding funding. Anyway, I still hold the memory of our Moroccan trip & those taxi rides - one of which broke down. I enjoyed everyone's company so much & it was such a 'gas'meeting up. Memories & experiences like that are precious. You can't go to a travel agent & book a tour of an oil/gas rig....but we did through 'Sound Energy Tours' & it was superb!
Looking forward to the Coronation: Long Live the King.
KTF, you’re last part to your post is what I’ve believed in for a long time,,,,,sentiment,,,,, many holders know the history of this share because many like myself are still stuck with it.
I’ve massively averaged down, now JP is out of the way this is like a new dawn (so to speak) the new board are better focused in my opinion & as far as first impressions go Gl who I’ve only met once came across we’ll & believe me in my job it doesn’t take long to think this is a wrongun.
We all (long term holder) know, fingers crossed the potential & as me are sticking around, good luck all.
Spencer, it's a tricky one to value (at least for me) at the minute.
you could look at Price / Earnings ratio once they are generating revenue, and perhaps future P/E ratio based on sales agreements in place.
However, this ignores the value of potential upside from exploration, which I believe is huge.
for me a cash generating company engaged in exploring additional prospective acreage for potentially huge discoveries is a very special opportunity.
whatever you do, think market cap, not price per share.
current market cap is a piddly £32 million. compare this to comparable companies and you should see this is very undervalued.
I would guess a market cap in the £200M + would not be unreasonable, which equates to 11p/share at the minute.
but there are a lot of moving parts here. on Aim sentiment is king. remember this went to a market cap of £800M or so from memory.
My knowledge of shares is limited.but to those out there who knows how to value . What would be a reasonable share price after we successfully sign the deal. I know it will not pounds as it's two years to build the pipeline and generate income. But what would we be looking at price wise 3p 5p any idear
The calm before the storm.
No stress for me. I can take a reality check from PS. Glad he's prepared to post. Crude too.
Fingers crossed. Have to say my patience is wearing thin now though.....we are 'pushing on an open door ' ....do we need to push a bit harder?
Parsons , I have not got the time of day for , but Graham I have
I think once things start moving we may find buyer’s appear for the other discovered gas , skb is already a discovery, so hopefully Lady Luck will be kind & push us forward… gla
They seem to be progressing in Morocco too.
We have been in Morocco 7 years now.....time for a gsa soon surely!?
Hi, I feel the negatives are creeping in if anybody feels this is not going to work out why not sell up? Save on stress levels.
PS, what we need is progressive, innovative financial solutions. Current Management will kill this stone dead for veteran Sound Energy investors if they do a 'Gerry Orbell' on us!. Our one-time CEO ,pre Parsons, nearly drowned us in shares. Say what you will about J. Parsons but he did at least take a different attitude regarding the raising of cash. This is possibly the one reason historic shareholders are still in the game. Once shares have been issued there a very rarely any share buy-backs on the AIM! Debt, however, can be paid back or credit extended, pending production revenue. I just hope they think about their loyal shareholders when deciding on their future CAPEX requirements!
Crude
"2p or not £2 ….very soon that’s the question ? Buy Buy Buy Buy Buy Buy Buy before it does !!"
I see we have a new chief ramper and they're getting lots of upvotes :-\
Talk about delusions in the desert! Two quid??? SP Angel values the whole of Phase 1 and Phase 2 at 7p per share! And it's not clear what assumptions they've made about the remaining Phase 2 finance requirements. I've no doubt when the Attijariwafa deal closes there will be people buying at 3p who wouldn't buy at 1.5p. SOU may get a good raise on the back of it too. It's also possible they have an "oven ready deal" on the remaining finance just waiting for the senior debt to be finalised. Given SOU's history, though, I would not be remotely surprised to find we're not even off the starting blocks with the farmout. In any event there would be further due diligence to go through. And I can't remotely imagine someone putting up $60m for SOU's share of remaining Phase 2 finance, PLUS a free carry on three drills, without covering their a$$ is the case of drilling failure. That means getting enough of a chunk of Phase 2 revenue to cover their costs, in other words a ton more equity dilution. I also expect the whole thing to drag on for a minimum of another year before Phase 2 construction even begins. Short term price spike and gradual drift back down, with everyone scratching their heads as usual as to why the SP isn't higher. Just my pessimistic tuppence worth which I know everyone's dying to hear :) :) :)
I've got echo's of "hold on to them golden tickets" in my ears... ;-)
The bank we are dealing with for financing are very rateable: https://www.moroccoworldnews.com/2023/04/355231/moroccos-attijariwafa-bank-among-africa-middle-easts-30-largest-banks
2p or not £2 ….very soon that’s the question ?
Buy Buy Buy Buy Buy Buy Buy before it does !!
Quite surprised we are not well past 2p right now
Keeptofacts....I like your style. I'm still about, don't post often and tend to skip through the absolute tripe. I've given up on whether it's lies, frustration, trolling, ones own beliefs, honesty or pure madness.
I've made my bed and I'll quite happily lie in it. In hindsight I should have took a vast profit and run for the hills but we are where we are. You live and sometimes die by your decisions and I've made peace with that fact.
As it stands, I've a fair amount of confidence that the company will deliver, this year for me was always going to be slightly boring but its hopefully a year that will rebuild the foundations. I could spend the next half hour explaining why but i simply can't get ****d. It will be what it will be as we say in my neck of the woods.
Have a great weekend all.
wolfe - why do you care how many I do or don't have.
why do you find it so hard to grasp that indeed I have been topping up since the 60s (can't remember the exact price and indeed it's none of your business).
I have just over 1m shares at an average of (from memory) around 1.4 or 1.5p
I have not sold any to date.
for those too thick to understand how this can happen, try a little example (not real, but an example).
buy 1000 shares at 65p - cost £650
buy 1000 shares at 6.5p - cost £65
buy 1000000 shares at .65 - cost £6500
total spend £7215
average price 1.38p
I repeat this is an example, not the reality, but even an idiot can see it IS possible to be in profit here having started buying at 65p
I must admit I no longer have the knowledge that I used to have regarding Sound Energy but my interest is increasingly piqued as we surely get closer to some real action...the kind we had pre-pandemic! My interest is in our market cap. With circa 1.8 billion shares currently in issue giving us a MC of £33 million a 5 'bagger' only values us at approx £155 million. I've seen this Company valued at over £800 million before now. We all know what can happen on the AIM when a really juicy RNS hits the market; it's like a 'Nantucket Sleighride' as everyone wants a peice of it: everyone wants to harpoon the big whale & land the catch of a lifetime. But the possibilities are obviously reduced if we end up drowning in a sea of share placements! Sound have the assets but need CAPEX. How they raise that money is obviously crucial to shareholders earning potential.
Cheers all....Crude
Hi it good be said some so-called investor is getting nervous, my gut feeling is the deal will be done next week .
Keeptofacts - I’m not being funny but you’ve (supposedly) been topping up/averaging down since the days of 65p!
Who are you trying to kid here? ps2306(?) had you on toast a few weeks back with your claimed holding.