The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
Before I retire to watch EP2 of the Tyson Fury documentary I have to say Jeremy your comments on the ECHO board (another share you are not invested in) yesterday morning after the duster at CLM x-1 were very distasteful. I also see shortly after you contradicted yourself again. You told this board you were going back to work to improve your mental health and that you didn't need the money, not as you said yesterday, that it was down to the lack of LE at sound. You are a compulsive liar.
Chao
Another lie Fez, you gave us a lengthy post on how the coronavirus would cause the markets to implode. Miserable? This coming from the middle aged man who infests a chat board he's not even invested in, lives with his pretend brother and has no hobbies or friends.....bless.
Don't forget the hundreds of posts you were spouting about this going for a minimum of a £1. That's before you said you would be DELIGHTED if this went to 0.0p and was delisted off AIM.
Good to see that my hero, Tom Winnifrith, has stuck his oar in at this circus show. I also see that the usual numpties are still taking very cheap pops at me because they know I was right and they were wrong. How it must pain them all. PNE, Destroyer et al. What a miserable bunch of you know what's!
I suspect a load more share will be dumped onto the market soon by way of another equity raise in order to counteract the forever growing SAG who currently sit at circa 10% of the total number of shareholders. An EGM can be called, sure and why not. If the BOD are failing to answer your questions then force their hand and find out what is really going on behind closed door. I bet Parsons just wants his money and then he'll wash his hands of anything SOU on May 12th.
If any of you mug punters still think there is a happy ending here then think again. Whilst there are enough of you still chucking your dinner money at this dog of a share, the trough is being kept "toppy" for those who will gladly feed from it. It seems some of you will never learn. I have been warning you all for weeks and weeks of impending doom and I haven't even mentioned the coronavirus, which just in case some of you don't know what it is, I'll give you a clue.....it has nothing to do with fizzy bottled drinks.
Jizzy
Maldini
You’re right. Depends on coal vs gas price I suppose. But since the LNG thing is ‘scaleable’ why not do both. A 45MW ccgt generator comes on a trailer.
Exploration that’s quite reassuring, although I’m a tad more sceptical about the benefits of converting older legacy coal plant to gas. Not least because you wouldn’t derive the same efficiencies or environmental benefits as you would by installing new twin cycle gas turbines. Nevertheless the LNG principle appears to stand on its own merits and that’s a big plus!
Exploration, it has been said on several occasions that you are closer to the coal face "excuse the pun" to tendrara and sound than you would admit to. Are you confident in MS progressing the prospect forward? Also still no news on sidi.
Testpack
I’m sure you’d do a great job truckin.
Simple route - turn left on the N17 and follow signs to Oujda. Then, when you see the enormous heap of mine waste, two chimneys belching out grey smoke, turn right at the mosque and you’re there. Welcome to Jerada - Morocco’s filthiest power plant.
https://www.adgeco.com/new-coal-fired-power-plant-jerada-requires-dh2-5-billion-fractional-construction/
Exploration, good post
Testpack, Daveyboy
Thanks. The gas is still there, two wells are ready to produce and Wacky Races has prepared the site and access road at TE5, 6 & 7. With sudden departure of 3 directors in 24 hours last November I think PIs May now realise that our Moroccan investors ‘ran them off’ the job (as ddboy would say to lazy roughnecks) after the no-hope offer following years of non-delivery in exploration. I suspect BM was out of the loop.
OGIF has been involved in this for 3 decades and I’m hoping they can succeed in moving the project to a successful and prosperous stage. Proven producing gas reserves with a sales contract, even via LNG, are much more valuable than any other category. MS deserves all our support because it’s the only way to recover our investment.
Afternoon Exploration, you are sounding very confident that this is a realistic option short term for sound. It had been said that Luca proposed this over 3 years ago to start generating cash flow but was quashed by JP and took us down this all or nothing exploration program. Looking forward to the next Sound meeting with a concrete plan from MS or we end up in administration.
Good post Exploration, but I want to be a trucker.
Maldini
The LNG option is real and comparatively cheap.
The nearest big ONEE power plant is at Jerada - 140km/2 hour drive away. It burns coal imported by rail to a steam turbine and has total capacity of 515 MW, of which 138MW is a new coal plant financed and built by Chinese. The coal arrives at the port of Nador on the Med coast and is shipped 200km by road/rail to Jerada. The Jerada plant is a legacy from the time the area had a big coal-mining industry.
If Sound delivers 10 mmscfd of LNG that would back out 50MW of dirty coal at Jerada and reduce fly ash management etc.
10 mmscfd can be converted to LNG and deliver 125,000 gallons/day of LNG. That’s about 8 road tankers per day.
That’s 1200 MW/day when converted to electricity. Adding gas-burners to to a coal plant is established, cheap technology.
At $200/MWH that’s $240000/day or $90 million/year for the whole value chain.
If the gas producer receives 25%, the micro LNG-plant/truckers gets 25% and ONEE gets 50%, that’s $21 million/yr gross to Sound/Schlumberger/Onhym, pre-tax/pre-royalty.
The last thing SAG need is TW using the group to feather his own nest, his intentions are not honourable. The bloke is the lowest form of pondlife who couldn't care less about SAG members or sound shareholders in general. He wants one thing, an easy buck and a headline. You cant trust that bloke as far as you could throw him. Unfortunately its not difficult for him to tell a few porkies and sign himself up to the group.
gut feeling is the lng comments are aimed at telling them to get the gsa signed right away.
suspect that will be the catalist for a full sale or the original deal.
Medi we cannot be certain at this stage whether the LNG proposal is a smoke screen or a credible step to first gas. In the same way that we cannot be certain whether the entire daily output from TE5 is destined for ONEE. The take or pay clause in the MOU only covers 0.3BCM/annum. That leaves a lot of other gas to sell and it could be that ONEE may not now want a commitment to take more than the 0.3 BCM so that they can retain the flexibility to buy cheaper in the spot market. That would not be in SOU’s best interests. Would it not make sense therefore to have other customers available to create competition and provide more certainty on sales volumes?
Ramping up to full production as soon as possible must be the primary objective in order to maximise revenue and if LNG can be the first step in helping to achieve this objective then all to the good. The biggest challenge we face is to bridge the gap between where we find ourselves to where we want to be and MS has a big task on his hands to achieve this. As yet the jury is out on whether he is indeed a new broom or whether he has the full support of the powers behind the throne. He needs to demonstrate that he can answer yes to both and if he can, then this could still succeed. If not then there’s been enough “expert assessments” on the BB of where this could all end up.
do you honestly think that tw&t tw will help anyone but himself?
TW for sure is playing for his own interests. Will he be successful? who knows.
But James Parsons and co were doing the same. Lets say this is past. Mohammed should be transparent and share a strategy map with people who own 50%+ in the company. BSiting people with LNG stories is not helping.
As you will no doubt be aware trellis with the volume of people involved there will be some with differing agendas and will pass on information to other parties to suit their agenda
Honestly at 1.66p I'm surprised anyone has anything positive left to say. I'm not a fan of TW at all but an enemies enemy is a friend in this instance.
paranoia?
tw's sole job in life (apart from stuffing himself) is destroying companies for his own gain.
he'll be super vocal about how sound have screwed sharehoilders until he closes his short and moves on.
the guy is a parasite of the worst kind
seems trellis/sag are, unwittingly perhaps, helping him.
Seem Paranoia is alive and well here. lol.