We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Never pays to bear too much of your soul on these BBS Indeep. It’s a macho world out there with individuals always ready to jump on any signs of distress or perceived weakness. You don’t know them from Adam, or their motives...and they don’t know you. Probably wisest not to share too many details but to keep acting on your own discretion and terms. You won’t get things right all the time, but neither will they in spite of the rhetoric.
'that I'm a weapon' ?
I don't dispute anyone's hard work or need for knowledge but i think we should wait and see whats offered. I still believe we are long from finished but its going to take some time for his to transpire, i.e. a couple of years. For one I'm looking forward to the deal being done and like i said "lets get on with it"
I do however take exception from constantly being told by none investors that i'm a weapon for not getting out and being a smart b'stard like them. Yes I'm a Muppet for not bailing when JP first sold his shares, I was break even at that point but i kick myself more for not getting out at 32p before the last duster..... that was a big one, grrrrrrrrr. However it is what it is, unfortunately, and i will have to stay invested for some time to come. That's me sucking it up :)
@poco I assume that makes you the guy in the corner shouting £2.50 over and over despite being asked to leave.
Looking at AAOG today at least makes me realise it could be worse. At least Sounds relationships with partners etc. Is good (I hope).
I wouldn't let Dog With Fleas anywhere near StMary's dog. We don't want a scratchy, itchy Christmas thanks very much.
Mr Dog_With_Fleas, you've got the most appropriate name for posting on this board as we all seem to be arguing over fleas on a dog.
Wh0s- We all know the minimum life of the field is 10 years. Expected life of the field is 15 years. This is standard field development stuff. The reality may be different +/-. And of course this ignores any further appraisal drilling in the area that may be undertaken.
You do realise that the 25 year term is standard for a Morocco production concession and that the length in no way reflects the expected life of the field......... Right?
We should at least be able to agree on a couple of general points from the “is it, isn’t it” ping pong of facts and anicdotes. The minimum expected connected volume at TE6/7 is up from 40 to 115 Bcf so there’s a good chance that less wells will be necessary....but it’s not guaranteed. The initial duration period of the final GSA is expected to be a minimum of 10 years from signature... but it could be longer. Of course it’s possible that neither of these things will come to pass in practice and we may end up with more or less, depending on what new information comes to light once production is in full swing. Hence finding the right balance of risk vs opportunity for both buyer and seller in the HOT is key.
hahahaha I love it - if only the production concession was for 50 years hey! Average that out instead and they could produce more gas than is actually in the ground :)
Minimum period 10 years
Feed 15 years
Production concessions 25 years.
Let’s be frank it’s more than 10 years and less than 25. So let’s go half way.
17.5 years of dividends, thanks for the clarification whos
That is from the MOU regarding the pipeline - it says that the consortium of developers will operate it for 15 years. That does not mean that the life of the field is "15+ years"
This is from the actual field development plan RNS:
"the achievement of first gas in approximately two years at an expected mid case production rate of around 60 million standard cubic feet per day over a minimum period of 10 years".
15 years,
Sound Energy said that the consortium will be responsible for the construction of the project and for its operation for 15 years. This will be subject to completion of the FEED process and also of a final BOOT contract with related debt funding put in place.
I'm not the one misleading people... Eric has magically extended the life of the field by 5 years in his last post
Who, misleading again, it was revised up to around 115bcf per drill to open up the Horst so an additional 4/5 wells to access the 600 bcf in place, te6 and 7 will go into production.
Where do you get 15+ years from out of interest?
$30 million a year revenue from the average gas sales for 15+ years. That’s just from the TE5.
We have 3 exploration drills an sidi to come.
@eric the RNS says "the significant increase in the Company's estimates of minimum GOIP connected to the TE-7 well provides support for the Company's field development plan".
"Provides support for the Company's field development plan". NOT "necessitates the re-writing of the development plan to reduce the number of wells to be drilled", as you seem to have deduced out of thin air.
I might be wrong, but after the lates analysis of the pressure build up at TE7 in March 2019; we have far less wells to drill because of the enhanced volume of gas that each well produce. So we are we are in a far better situation than that old RNS.
“ Analysis of the pressures measured in the well recorded over time has led to an increase in the Company's estimate of connected GOIP around TE-7 to a volume exceeding 115 Bscf. Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected GOIP around TE-7 exceeded 40 Bscf.”
@eric - surely after this debacle and the many many more examples that have had Malcy's fat fingers all over them, you wouldn't trust a single word he's mumbled on a podcast
Have listen Sou section in near the end. Some numbers are discussed. We are expecting 66MM when fully operational.
In The Wake Of Oil Week, We caught up with Malcolm Graham-Wood to find out more from the latest Oil & Gas developments, having recently returned from Oil Africa Week. During his time Wood shared a number of quiet one2one meetings coupled to high impact events at Oil week. In addition, the markets have provided a number of material announcements from market participants delivering a flurry of harsh blows or arguably good opportunities dependent on one’s perspective.
https://total-market-solutions.com/2019/11/22/malcy-talks-oil-gas-xvi/
Sound will take a non operator status in both Eastern Morocco and Sidi. This can be the only explanation of the exploration team moving over to the JV.
Let’s say we keep 14% of EM and 30 % of Sidi. Our share of capex for EM is 100% covered to first gas. We will get a deal on Sidi to cover the most of our share of the initial lump of Capex.
With very very little running costs we will just sit back and take the revenue.
Yes I did attend the DD, the lakbhir high, excuse my spelling has a mid estimated volume of 400bcf which would take the Horst to over 1 TCF, SBK I'm sure has been revised upwards but can't remember the figures.
@eric it's interesting that they've told you the exact opposite of the deal RNS. The whole point of carry is that it's applied to one specified aspect of costs. It's not cash, it's payment up to a ceiling for a defined purpose, in the case of the agreement RNS it's a carry for spend on getting to production only.
Literally by definition that carried cannot be used for another purpose, otherwise it's not a carry...