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Kylie,
Ok - well that's a good to know you will at least give the company some credit.
Personally, I believe the SP is currently at rock bottom and can's see any further dilution should the vote on the 20th go accordingly to plan (which I think it will).
After that its still a question of signing off on Phase 2 (which again I think will happen)
At that point (which has to be quite soon because they don't exactly have a lot of money in the bank) then back costs will be due from the Calvalley deal to the tune of 8 million.
Should the above milestones occur then you would like to think that a vastly improved sentiment and ( +revenues) would surround the long term future of this company which I believe would be reflected very positively over time from the currently depleted share price.
Admittedly, Sound would still be approximately 2 years away from the big Phase 2 revenues but at least they would be a gas producer and profitable company prior + within that period sound will be fully funded for the TE-4 drill and are likely to carry out further exploration, one of those drills being the M5 structure (more high risk but with huge potential gains)
If the BOD achieve the key steps above then personally I think it will be an amazing turnaround for this company and shareholders will benefit from having about as much security as they possibly ever could whilst investing in a micro-cap oil and gas share.
I do admit to being a glass half full person but we will see over the course of the next few months........maybe even sooner?!!
GLA
Kylie
I feel your frustrations however one must give credit to the remarkable effort and skill displayed by Graham given the precarious position the company was in when he took over the reins. Although timescales have not kept up with your personal expectations does not mean that things won't work out in the end.
If you look at this strategically then Morocco is desperate for energy and we will soon be at first gas /LNG. We also own the trench that is expandable and the only route in the area to get pipeline gas into the European gas network. We are at the point of being within real touching distance of success and in my opinion we are now more likely to succeed rather than fail. The rest will look after itself even if the timescales take longer than expected.
Greendragon, you don't get it. If someone gives you 10m shares, you don't REALLY have skin in the game, what you have is a free hand, a punt. And that is what they had. If they'd have investeted their own hard earned money in buying those 10m shares at market prices, then that's skin the game. Anyone knows that.....
Sound,
I'd certainly hold my hands up and give the company some credit, but I feel this is extremely unlikely. As I have said many a time, there's a yawning chasm of difference between 'the company' and 'exisiting SH'. The company could possibly get all the below you mention done, but in the process completely wipe out existing SHs in the process. Under that scenario, I would be proven to have been right. It's not a case of cheering up - I'm simply being realistic, and the reality itsself is what is extremely negative here. I'm merely a mirror projecting back GL's mess / lies etc. Anyway, 6 days to go. I think it's pretty certain no news before the 20th as that will be another formal/informal CP for the financing discussions - push the bondholder commitments out further or get them covered by getting the existing SHs wiped out. Remember, none of these key stakeholders gives a monkey's nuts about existing SHs, particularly GL as he's made clear.
No skin in the game other than the millions of shares they own. But they obviously don't count.
Kylie,
Quick question;
Are you likely to cheer up if they approve funding, agree the CP's and sign off the Phase 2 project?
You're too kind Table, thanks. I don't feel like a trier most days, I have to take my hat off to all the triers on this bb, the investors and posters like KTF and Co (where is he nowadays, I did suggest he was just here to lure un-researched money into this black hole, could I have been right....?). They tried very hard over the years to talk this dead duck up, but ultimately it's been show to be just that, a dead duck, head under water, feet in the air. I mean what kind of CEO makes a statement in mid September about 'big news this quarter' when he actually meant 'big news next quarter or more likely the quarter after that (and when I say big news, it's not good big news......)? You gotta try really hard to lap that garbage up month after month, despite all logic and facts pointing differently, and still remain blindly unjustifiably bullish on this zombie co.
So no, hats off to you, you're the trier Table.
God loves a trier Kylie.
You have thrown everything at this one !!
Hehe
Bond holder meeting/vote on 20th Nov will be yet another GL car crash. He's got you all locked up in the boot of the car, he's got his headphones on and he's about to drive you and him in the end off a cliff in my view. Any company with a positive story does not shut down all comms with it's owners / SHs. It takes a pretty high level of contempt, particularly given what you lot have gone through and the statements and BS fed to you by GL to approach the situation in this way, but there you go.
All the flashy (zero value or less) CAD videos of LNG plants etc only goes to further convince myself I am right here. What kind of a company wastes SH money on such marketing guff when the SP is 60% lower vs a few months ago and at all time lows with a mcap on £15m? It's the kind of thing BP or Shell might do, not a two bob joke of a company like SOU. There's no way this ends well, it all feels very very wrong now. Assets handed over one way or another to another operator that has the pockets and capacity and experience and ability to carry this out
Beatles Moroccan Remix
One, two, three, four
One, two (one, two, three, four)
Let me tell you how it would of been
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman
Should five percent appear too small
Be thankful I won’t take it all
'Cause I'm the taxman
Yeah, I'm the taxman
I'll tax the street
(If you try to sit, sit) won’t tax your seat
(If you get too cold, cold) won’t tax the heat
(If you take a walk, walk) won’t tax your feet
(Taxman)
'Cause I'm the taxman
Yeah, I'm the taxman
Don't ask me what I don’t want it for
(Ah, ah, Mr. Graham Lyon. Executive Chairman )
Its just you don't have to pay some more
(Ah, ah, Mr. Mohammed Seghiri. Chief Operating Officer )
'Cause I'm the taxman
Yeah, I'm the taxman
Now my advice for those who Buy taxman)
Don’t miss Sound pennies with your eyes (taxman)
'Cause I'm a Sound Moroccan taxman
Yeah, I'm a Sound taxman
And you're investing in Sound don’t worry about me ( taxman )
Share news, reports & tips (Sharecast News) - Sound Energy has successfully resolved its tax disputes with the Moroccan Tax Authority, it announced earlier in the year.
Taxman is Sound ; BUY BUY BUY
.
I strongly believe that soundenergy will come good.morrocco need gas.we have plenty.patience is needed.once cavalley sign then its whole new ball game...lots happenning in the back ground as we speak...
yours truly SOUNDBOY.
Excellent, let us all know when you've bought back in ;-)
Https://www.lse.co.uk/ShareChart.html?sharechart=SOU&share=Sound-Energy
And a market capital of what ?
Investing here is optional but if your on the BOD and in the know it’s a no no !
'Options are pretty worthless and no skin in the game but they get paid handsomely every month and for what ?'
Building a company with net profit per annum of 10 million per annum from 2024 and then 70 million per annum from 2026 onwards I guess.
Creating an opportunity (from this profit) to unlock the potential of up to 28tcf of gas might also be another one.
Crazy as it sounds, that takes a little time when you've been handed a complete donkey.
Investing here is optional ....
Sound as a pound - just look at the share price that’s the only thing that matters to SHs. The only thing that matters to the BOD is the large pay cheque they get every month - every month a deadline is missed. Options are pretty worthless and no skin in the game but they get paid handsomely every month and for what ?
I guess people are just so sick tired ,fed up and just plain old bored with GL and his merry men with the " we have been working flat out for the shareholder value " monatone.
I watched a video a few weeks ago about a village in Yemen andf a man who had an olive oil-producing business at his mud brick house .He had a camel that had a bandage wrapped around its eyes and the camel tied to a wooden frame that was connected to a huge grinding stone wheel and the poor wretched animal just went round in circles grinding the olives into the oil which drained down into a vat . Besides noticing the utter cruelty of the man who occasionally beat the poor wretched animal when it slowed down I couldn't help but draw similarities to my own situation in Sound as due to my utter stupidity in not following Crude's decision to sell at the right time, to now being in a position where I would lose the my sanitary if I sold now ,I realise I am that camel destined to listen to GL and his " working flat out for the benefit of the shareholders b/s or Mr Peskis buy buy buy irritating rattle .Its enough to drive anybody to drink
There is an LNG plant in the making with various components being manufactured and shipped to site as we chat.
All groundwork including massive reinforced foundations have already been constructed for this.
The Phase 1 project is happening and will be producing gas in 2024 to the tune of 10 million dollars per annum.
Phase 2 - is still be agreed/signed off, but sound are pushing forward and with positive news on this bigger project the company will be transformed.
GLA - exciting times ahead
Seems an odd assumption that this company is going to go bust?
Less talk of these recently. I wonder why ? People still talking of deadlines - really ! Beware the coming dissolution that’s a deadline the BOD will meet.
Glad you understood. At present I see nothing but disaster, wont stop checking every now and then though
Ah I understand now, looking at your opening comment 'Heading to sub 0.60 I see. Disaster', and 'Been in and out since 2012'. It makes more sense.
Been in and out since 2012, I have interest and curiosity of course. Just don't have any confidence on the BOD at present.
Is it normal behaviour, to sell out of a share and then come on the BB to 'voice your opinion'. Sounds a wee bit fishy, but, different strokes for different folks. I've come to get a balanced opinion, not sure if that balance is there with someone that has sold out. Not trying to discredit your comments, but you have less skin in the game than the BOD.
Just voicing my opinion, not trying to influence anyone. If someone wants to invest it's their choice. I was positive about SOU but lost all confidence this year hence sold them all. No confidence in current BOD and rather disappointed how this company is being manged. just MHO.
Thanks, is this the news that is expected by 31st Dec?
Calvalley negotiations ongoing. When the deal is done it will be transformative for Sounds long term future.