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Yes thanks Ducati, great post
Morning all, a long time since I bought in or posted. Still holding at a huge average, over 60p, and am now at point to bring that down dramatically.
The new board seem to be miles ahead of the previous incumbents. Still risks but upside is looking very, very strong from here.
GLA.
great article, thanks Ducati.
this is all looking seriously good.
Great article Ducati2, well done.
I love the line "Better to invest than to continue importing gas".
That says it all for the Sound investment case and hopefully it reflects the new reality in Morocco.
Interesting measure that Moroccan gas imports between November 2021 and January 2023 have cost 6 billion dirhams and that is how much the investment in the gas pipeline will cost in dirhams. Maybe that gem will hit home.
Maybe we are 'pushing at an open door'.
It would be great to hear from the bank now!
"Better to invest than to continue importing gas"
"For this, 3 billion dirhams of infrastructure spending will have to be invested before the start of production, followed by a series of additional investments to develop this project over a period of ten years, for a total amount of 6 billion dirhams," says our source. The oil agreements signed provide for Sound Energy to find private investors to finance 75% of the project and the State, through ONHYM, the remaining 25%.
Investments that are necessary, especially since, according to our interlocutor, "the Moroccan State pays a real fortune to secure the gas supply of the Moroccan electricity system".
"Since Algeria's unilateral decision to close the Maghreb-Europe gas pipeline, Moroccan gas imports between November 2021 and January 2023 have indeed cost no less than 6 billion dirhams, the equivalent of the financing needed for the Sound Energy project with ONEE," reveals our source, who is based on the explosion in gas prices and the needs of the two plants.
Between the future supply of Moroccan industry by Afriquia Gaz trucks and that of ONEE, Sound Energy hopes to contribute to bringing some gas independence to Morocco, thanks to the current reserves of the TE-5 well and possible discoveries with future drilling.
Sound Energy: work on the gas liquefaction plant completed on time.
Bound by two contracts to commercialize gas extracted from the TE-5 well, Sound Energy has made good progress in its project to build the liquefied natural gas processing plant. From 2024, it will be able to supply the private company Afriquia Gaz and, by 2026, the two power plants of the public group ONEE, thanks to the reserves of the Tendrara field estimated at 10 billion cubic meters.
"The liquefaction plant will supply Afriquia Gas from February 2024"
One year after the start of construction work on the liquefied natural gas processing plant, which will supply its private customer Afriquia Gaz, a source close to Sound Energy tells us that the delivery deadlines, which provided for twenty-four months of work, will be respected.
"This liquefaction plant is located near the Tendrara deposit. With a total cost of $127 million, it will make it possible to process the raw gas extracted from the TE-2024 well in early 5, so that it can then be liquefied and marketed by the Afriquia Gas group. Its fleet of tanker trucks will be able to deliver all its customers on Moroccan territory, "says our interlocutor.
"The ONEE pipeline is ready to be built"
To supply the two power plants of ONEE, which had to import gas after the closure of the Maghreb-Europe gas pipeline, Sound Energy has just signed all the land lease contracts necessary for the establishment of a corridor. The latter will house a 120-kilometre pipeline between the TE-5 gas processing plant and GME, which is connected to both plants.
Intended for ONEE, this project will include the construction of another treatment unit connected to a pipeline, to be built in twenty-four months, as well as the drilling of new development wells to be able to secure the supply of Morocco's electricity system.
Barring unforeseen events, the pipeline will be operational from the first half of 2026. It will put an end to current gas imports to supply, from the Oriental field of Tendrara, the two power plants of Tahaddart and Ain Beni Mathar.
Good, a larger buy at 2p
Next stop 2.25 p then 2.72p …
GL
Holding strong with confidence
and 2p paid.
Only 55 shares for a grand total of £1.10, but still 2p.
07-Feb-23 14:12:54 2.00 55 Buy* 1.90 2.00 1.10
Its looking good and like things are still on track with the new LNG facility to be up and running at start of 2024!
News now on Phase 2 pipeline funding will be a gamechanger for this company.
Still steaming ahead, the tanks should be started very soon.
they call it micro LNG, but there's some serious engineering involved.
Good to see progress continues.
https://twitter.com/soundenergyplc/status/1622857777788907521?t=x-ng8mNS8vduiNgFiAnbnQ&s=19
Hope so KTF. I think the company is undervalued already based on existing discoveries, never mind potential exploration. But the real acid test, the best indication that the 'tides have turned' would be an objectively positive RNS which isn't followed by the usual plummet in share price (for all the wrong reasons). Without trying to sound too much like a Lord of the Rings quote, it's time this company 'becomes what it was born to be!'
Can’t get any price for 100k shares but can sell 500k!!
Holding strong
GL
I think we will need a bit of newsflow to get us over the 2p barrier and stay there KTF.
Hopefully not too long to wait.
we get over 2p and stay there?
surely we are getting close to a proper re rate now.
Agreements signed last week. See link for extra info. the Train have left the station and on its way! Good luck all.
https://medias24.com/2023/02/02/rabat-et-madrid-franchissent-une-nouvelle-etape-dans-les-relations-bilaterales/
https://medias24.com/2023/02/02/des-formations-par-alternance-au-profit-de-200-marocains-souhaitant-partir-en-espagne/
Spain Seeks to Revamp Trade Ties With Morocco Overcoming Row
Can anyone report on this story ,as I think it says about 800 million in new deals inc energy , thanks
Shortly (probably as soon as next month) there will likely be a share issue to pay for overhead expenses.
Sundance4 , thanks for sharing & I do think Graham is a good man . Gla
I recently received an email from Mr Lyons answering a few queries I submitted to him.
His response was swift and forthright, and he very kindly answered what he could and also congratulated me for remaining invested in Sound, as that wasn't the first time I had emailed with questions. Hence, I found it encouraging and rather impressive that he remembered my name, as it was well over a year ago that I last corresponded with him.
What really struck me from his return email was a small comment he made, which was not made to be any confirmation or way ahead, but he just said that shortly Sound hopefully will be at a different level and it will stay there; make of that what you will but apart from the " hopefully " bit I am pretty convinced that this company is about to go somewhere sunny and that right soon.
Friday morning buy price quoted at 1.79p on II, put in a 24 hr limit order at 1.8p for 250k, checked this morning and order unsuccessful. Looks like S/H are being optimistic and holding.
100p a share and its all his.