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Wow the disagreement continues Please get a room gents , as for the gas I’m sure all know how clean it is when it was flowed in past tests ? If it was poor I’m sure we would be gone by now , but we are not and still have schlumberger on side Sound onwards & upwards gla
ST123: "PS still putting the boot in to our chances of future prosperity"
You sound increasingly unhinged. What exactly is your objection to discussing the facts advertised by RNS by the company you (and I) are invested in? More than happy to entertain your view of those facts, if only you would stop parading your ignorance as a virtue by claiming nobody outside SOU's inner circle can know anything.
ST123: "failing to leave out some of the major significant costs such as how clean is the gas and the need for removal of carbon dioxide and hydrogen sulphide"
Are you serious? AudibleEnergy asked why SOU doesn't just build more LNG plants. The answer is that the marginal profits are less for LNG than the pipeline option and SOU would be throwing away value. WTF would an essay on sulfur removal add to that? Touch of hypocrisy here perhaps? ... you want more detail on hydrogen sulfide but throw a hissy fit when SOU's finances are mentioned? There's more than a whiff of hydrogen sulfide about you already ;-)
PS still putting the boot in to our chances of future prosperity but I wouldn’t expect anything less from one as bitter as you. You now appear to have read an LNG article and are now an expert at the running costs telling us of such things as compression and regasification but failing to leave out some of the major significant costs such as how clean is the gas and the need for removal of carbon dioxide and hydrogen sulphide prior to liquefying which add huge significant costs to the building and running of these plants. Again you can read pages and pages of an article and regurgitate it without understanding the whole picture and this might explain why you recently sold the majority of your SOU holding and then made the disastrous decision of Investing in PVR which has halved in value. It appears that you must have read pages and pages before making these huge choices but obviously did not interpret the signs and data correctly. You are indeed a huge fraud and have been found out yet still haunt this site in the hope that we also may come unstuck so that the pain will be more bearable for you. The best advice you can give us would be to let us know where you are going to invest next so we can avoid the company like the plague as it will no doubt have disaster written all over it.
ST123: "ps spouting more facts and figures giving the impression that she has her finger on the pulse of everything SOU."
Nope, just the same facts and figures as before. All advertised via RNS. You should read them sometime.
ST123: "Its all bluster and speculation as the only one really knows what's going on is Graham and the board."
You plead ignorance as if it's a virtue. There's no doubt the RNS info does not contain the complete detail, but if you are saying it's actually wrong or misleading then Graham is a criminal. Where does that leave your "in Graham we trust" mantra? I know you can't let it go, but this self-contradictory position is transparent nonsense.
ST123: "ps remember was previously extremley critical of Graham and was one of the posters predicting the company demise."
Not critical of Graham so much as of SOU. Still am. They've managed to turn a silk purse into a sow's ear. The two year delay (so far) in monetising Tendrara has cost shareholders much dilution. And no, I never predicted the company's demise, just pointed out that it would be a logical consequence of failing to secure funding. That's still true. If the current LNG proposals come to fruition, it will still leave SOU on life support for the rest of the decade. All there in the RNS's and confirmed by Graham. You REALLY should read them sometime.
Audible: "What to stop more than one LPG plant? Lack of infrastructure, road, rail, lack of pipeline."
LNG is a great way to get early revenue from the gas at a reasonable cost. But the cost per unit energy is high compared to the pipeline option because of the inefficiencies in compressing, trucking and regasifying it. Those costs can be several dollars per mcf for LNG, but a fraction of that for pipeline transport.
Sharetrader. Yes there are just too many variables for anyone to quote figures and outcome. The only thing for certain is that Graham and the board are doing everything possible and going full steam ahead to sort our company out.
ps spouting more facts and figures giving the impression that she has her finger on the pulse of everything SOU. Its all bluster and speculation as the only one really knows what's going on is Graham and the board. ps remember was previously extremley critical of Graham and was one of the posters predicting the company demise. This person sold up at 1.2p and now expects us to believe they can predict the financial future of the company,what a joke. Its no good jumping on the bandwagon now its safe to do so but some people have no shame. A total fraud if there ever was one.
SH, I have speculated multiple LNG stations before. I don't think we have enough current gas reserves to warrant a $200 million 20" pipeline, so either farm out and go exploring again, high cos targets close to the horst or maybe scale back the pipeline to a $100 million 12". But Graham has a plan and watching the video the phase 2 project appears further along than I expected.
May I just ask a question re guarding the revenue, everything I have read seems to talk about. One lng plant. And one level of production what’s to stop there at some stage in the future two or three plants operating or a larger plant farmed in Especially if the pipe line is placed in Surrey economies of scale would increase revenue fare in excess of costs there higher disposable revenue
Fair enough PS. I think the big deal about Ph1 is that it gives cashflow credibility that makes Ph2 more credible. Ph2 unlocks Tendrara. I have no doubt there is huge value to be had after that, just not for Sound. I believe Graham’s game plan is to make Tendrara real and sell out when he is in a stronger position so he can negotiate a fair share of the value for Sound. To get 3rd party finance for exploration is impossible. That makes deal value for exploration potential very low. Get cash going and the world looks different for Sound.
LONGWAIT, I don't disagree with Graham. I trust he has done his numbers. But no matter what way you look at it, the revenue versus debt repayment numbers are a fine balance. Assuming the LNG flows on schedule the revenue side is easy -- it's $8m per year. He has about $2.2m in debt interest and bond coupon for the first year or two. Add in some figure for SOU wages and running costs. Then he has to start paying an additional $3m of bond amortisation per year for four years. At the end of that there is the remainder of the bond to pay off plus deferred interest, amounting to $20m. Basically, every remaining cent of revenue from the start of LNG would have to be saved up to meet that bill. Post 2027 he has to start saving to pay off the debt from the gas purchaser, due in the early 2030s. But that's easier because the LNG plant lease is up soon after, and SOU revenue will increase by around $6m/year. SOU is effectively debt free by 2030.
So I believe Graham when he says that SOU "can accumulate sufficient funds to repay the bond". But it means he doesn't have a brass farthing for anything else this side of 2030. No dividends for shareholders, and no drilling. That means that getting pipeline funding is the sine qua non for SOU value.
'whether i get my money back or heaven forbid a holiday out of it remains to be seen over the next couple of years....... never expected to be on AIM for 7yrs +'
I was watching GL's latest interview and he is confident that SOU will be able to repay its loan, which means whatever calculations he has done have arrived at a different conclusion from that reached by my old friend ps.
We'll have to wait and see who turns out to be right, but much may depend on energy prices.
If the pandemic ends - and isn't replaced by another - then the scarcity of oil and gas should become a major concern once again, and long-term projections are that the price will rise steadily.
Yes I hope I am or I may be dead with work !!! I do feel we have something good as schlumberger are still here ? I do think Graham & Mohammed understand and hopefully can build a super company not only for us , but the good people of morroco in the coming years .... gla
I have got another 112k of shares a bit high @ 2.84 .Im very happy with the new team sound. Topping up will continue here so I can drop my high average!!! Maybe another few years, but I hope most maybe able to recover the hard earned here gla ... strong & long for exploration again
Stable day today.... not the nose dive I predicted. Hoping that 2.5p is now the new floor. I personally liked the video, not sure about him looking uncomfortable though. GL is a cool guy with the Share Holders in mind, doing the best he can with the deal he's been dealt not like the other t**sers. Not a job i would like, so in him I trust.....whether i get my money back or heaven forbid a holiday out of it remains to be seen over the next couple of years....... never expected to be on AIM for 7yrs +