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Keeptofacts....I like your style. I'm still about, don't post often and tend to skip through the absolute tripe. I've given up on whether it's lies, frustration, trolling, ones own beliefs, honesty or pure madness.
I've made my bed and I'll quite happily lie in it. In hindsight I should have took a vast profit and run for the hills but we are where we are. You live and sometimes die by your decisions and I've made peace with that fact.
As it stands, I've a fair amount of confidence that the company will deliver, this year for me was always going to be slightly boring but its hopefully a year that will rebuild the foundations. I could spend the next half hour explaining why but i simply can't get ****d. It will be what it will be as we say in my neck of the woods.
Have a great weekend all.
wolfe - why do you care how many I do or don't have.
why do you find it so hard to grasp that indeed I have been topping up since the 60s (can't remember the exact price and indeed it's none of your business).
I have just over 1m shares at an average of (from memory) around 1.4 or 1.5p
I have not sold any to date.
for those too thick to understand how this can happen, try a little example (not real, but an example).
buy 1000 shares at 65p - cost £650
buy 1000 shares at 6.5p - cost £65
buy 1000000 shares at .65 - cost £6500
total spend £7215
average price 1.38p
I repeat this is an example, not the reality, but even an idiot can see it IS possible to be in profit here having started buying at 65p
I must admit I no longer have the knowledge that I used to have regarding Sound Energy but my interest is increasingly piqued as we surely get closer to some real action...the kind we had pre-pandemic! My interest is in our market cap. With circa 1.8 billion shares currently in issue giving us a MC of £33 million a 5 'bagger' only values us at approx £155 million. I've seen this Company valued at over £800 million before now. We all know what can happen on the AIM when a really juicy RNS hits the market; it's like a 'Nantucket Sleighride' as everyone wants a peice of it: everyone wants to harpoon the big whale & land the catch of a lifetime. But the possibilities are obviously reduced if we end up drowning in a sea of share placements! Sound have the assets but need CAPEX. How they raise that money is obviously crucial to shareholders earning potential.
Cheers all....Crude
Hi it good be said some so-called investor is getting nervous, my gut feeling is the deal will be done next week .
Keeptofacts - I’m not being funny but you’ve (supposedly) been topping up/averaging down since the days of 65p!
Who are you trying to kid here? ps2306(?) had you on toast a few weeks back with your claimed holding.
The financing is subject to agreement. There is nothing to prevent agreement to some of the financing being made available immediately to cover G and A costs until first gas. Alternatively, once this funding agreement is in place this will hopefully allow the Farm Out or alternative project financing to be concluded providing G and A funding until next year.
Excellent analysis, ps200306
Thanks PS for your usual, carefully considered contribution, which could even run the risk of being quite up-beat?
The farm-out is certainly more than the icing on the cake. The Attijariwafa proposed funding is only part of, albeit a very large part of Phase 2 funding but not a penny comes back to Sound from Phase 2, until full funding and completion of the pipeline and CPF. The farm-out process is quite different from raising cash by issuing new shares in the whole company with a consequent dilution of the share value (particularly when the SP is so low).
Farm-out is inviting partnership and investment into new projects, which currently may have no actual value to the company, until they are completed, such as the proposed pipeline, the CPF and one, two or three well drills. Farm-out offers a share in these projects, which would otherwise not happen and actually adds value to Sound rather than dilution by issuing further shares in Sound Ltd. I am sure that Graham is taking every step to avoid share dilution. He is working with many different interested parties and I am very hopeful that all the pieces of the jig-saw puzzle are beginning to fall into place!
Funding runs out in July and revenue is not due for another nine months. Surely the Attijariwafa funds will be available to cover the interim?
Rags to riches!
i agree. Madness. I'm sure if they say they were investing rather than gambling they might find some solace.
That's where you're wrong scarf. Even if this went to zero, whilst I wouldn't be happy, it wouldn't impact my life at all. I have invested what I can afford to lose.
Previously there was talk of people investing their entire pension and even selling houses to invest, utter madness.
I would imagine the few disgruntled sound gamblers who bet too much in the JP era would like it to succeed as much as you do Keeptofacts. If it goes pear shaped and ends up at less than a penny you'll be able to count yourself amongst them. GLA . Lets hope it takes off
it is in everyones interest for this to work out, baring a few disgruntled sound gamblers who bet too much in the JP era.
nothing is certain but death and tax, but I think this is about as close to certain as it can be.
If this does go amiss then its corruption at the highest level... just think how many years SOU has been plugging away in Morocco...cant see it going wrong IMHO
bigbench Surly they cannot be seen to miss this opportunity now. The field is awaiting the LNG equipment to be sited and commissioned.
Meanwhile, Attijariwafa Bank is Morocco's second largest bank and has ties to the Moroccan royal family, making it a key financier, very important to the progress of the officially licensed Tendrara gas exploration field.
100% agree
it will get done and very soon in my view.
I also suspect that once in place we will get a wave of other news that has been waiting on this.
could be an exciting week next week.
its got done deal written all over it Ducati2 ;-)
On the progress of the discussions, Lyon said the UK firm is currently awaiting the conditional financing offer, which they expect to receive shortly from the bank's committee. "We look forward to providing further updates as the process moves forward," he concluded.
Graham Lyon himself noted that "Morocco's Tendrara field will play a key role in achieving the Maghreb's goals as the country aims to expand international markets and transactions". Sound Energy currently manages three areas in eastern Morocco, with 47.5% of its capital invested in the east, compared to 27.5% for Schlumberger and 25% for the state-owned National Office of Hydrocarbons and Mines (ONHYM). In these new projects, the British company will have a 60% stake in the project, while ONHYM will have the remaining 40%.
Graham Lyon is the current executive chairman of Sound Energy, previously serving as chairman of the board of SulNOx Group PLC from December 2019 to October 2020. Graham was also non-executive chairman of Tate Petroleum Limited from October 2018 to January 2020. In addition, he served in the technical department of the Advisory Committee at Sirius Petroleum PLC from January 2016 to September 2020 and as a non-executive director at Range Resources LTD from February 2014 to November 2014, attesting to his extensive industry experience.
Meanwhile, Attijariwafa Bank is Morocco's second largest bank and has ties to the Moroccan royal family, making it a key financier, very important to the progress of the officially licensed Tendrara gas exploration field.
https://atalayar.com/en/content/attijariwafa-bank-and-sound-energy-deepen-talks-financing-gas-exploration-northeast-morocco
Its looks to me this is a done deal and will be completed in the next week weeks... personally i think it will have a massive impact on the current SP and 2p will be long forgotten.
The farm out, of course, is a lot more than just icing on the cake. It's needed to raise SOU's 75% share of the $80m balance of phase 2 development costs. The Attijariwafa decision, when it comes, also won't free up any immediate money for G&A. So there is definitely a raise coming in the next couple of months. If Graham times it right he might be able to piggyback on shareholder enthusiasm after the senior debt facility announcement. In addition to G&A he will want to raise enough to cover at least the first bond amortisation payment due next December. One assumes another 10-15% or so dilution (last one was 12%). That will reduce the SP Angel target price to a little over 6p (to be achieved sometime between now and first phase 2 gas -- in 2027 if I was to hazard a guess) . The interest rate environment has changed a lot since their last note in June 2022, don't know if that also reduces the valuation. A successful three well drilling program would enhance things of course.
Hi don't embarrass yourself the guy is informative,
lol
Must be a buffet due.
... I see this as further good news from Sound, Attijariwafa completing their DD is a good sign and as is often the way with big banks the approval process is quite rigid. The moveable feast of Eid seems to have got in the way of a scheduled meeting but I can’t imagine that with exclusivity good for another month that anything but an offer will come. This is too big a prize for the state Bank to lose out to a competitor as lead arranger.
The management continue to deliver and this is another key yardstick, progress has been solid and there are many who wouldnt have expected so much by now. With the shares having doubled since the start of the year and looking to go past the significant 2p milestone I think Sound should very much be on people’s radar screens.