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Unless the Q&A has been called to mitigate more delays.
If we get news tomorrow it leaves little time for questions.
If no news, what are we going to ask?
Deadline 15/3. Surely if news at that point it would make sense to put on the event then?
You actually get my vote on that Crude but I don't think we are strong enough anymore, the days of the Tommy Gun-Toting Brit Bull Dog are long gone,this country has been diluted to that of fat free milk and we are on the slide to insignificance and I am an x serviceman it makes me cry sometimes when I see our vets the way they are treated and I am making zero apology for off topic as if you don't like it don't read it
Testpack, Brexit is in a transformational state. The trouble with being so engulfed by the EU is something akin to being strangled by an Octopus or stung by a jellyfish: there are so many tentacles to unravel that it is quite unbelievable that we could have been so engulfed by such a project. It is only now that we are trying to unravel the spiders web of bureaucracy that we see how malevolent & insidious the whole project was. It is going to take years to unravel & free ourselves of a Union that would seek to drain us of our sovereign powers & coerce our subjects into a European 'Super State' that we flatly rejected back in 2016!
Crude...apolgies for O/T
Interesting reading the comments about The failures past events. The 'geologists' comments saying 'sell'was insightful, but the non commercial comment was incorrect, since we have 4, I think' wells that flowed with 'above' commercial quantities. The big mistake The bean counting failure made was not monetising those discoveries at the time. The one comment from Mitchener that really exposed the direction of the company under The Failure was when he was asked how many shares he held in SOU, and replied 'not enough'. I contacted the company and was told he did not hold any shares. So holding none was 'too many'.lol. I bought my main tranche of shares in SOU at the 4p offer when it was Sound Oil. Around 2014 probably. I sold and bought over the following years, and indeed bought as high as 60p. I dripped the sells on the way down, and kept a few thousand for daily sp price checks. Naturally, I am more happy now that we have an OnG man at the helm. Will things move fast enough, of course not. I am in another AIM company in Morocco, a start up mining company for Potash. This company is being tested to the full limit by Moroccan bureaucracy, and/or lack of info. from the company. I will always remind investors that the prime directive of any CEO, especially with AIM companies, is to make themselves rich, and secure their families future. If the company succeeds, that is a bonus.
BTW Crude, how's Brexit going? And don't forget. you chose this platform to express your political ideals, I did not invent them for you.
An early Thursday morning RNS would serve as a useful statement from which appropriate questions can be formulated in time for the Q&A event due to take place involving GVL and team.
Just hope it stays at this level or a tad lower past the new tax year for an isa transfer?
Sod it, what’s another 51,000 to the pile. It’s March after all ;-)
way too slow, the work is not quick enough!
Agree Joe,we do keep hearing how the Moroccans are desperate for our gas, but whenever we get the Sound site pictures, it doesn't look like we are in any rush to complete the plant with only a couple of operatives on view, in the last twitter pics. Surely we should be powering on in many site areas, not just one at a time is how it looks to me.
Would like to see pics of how the the LNG storage tank is progressing. Why no updates?
Maybe we have run out of kitchen sinks to chuck at it.
Natural gas demand: 120 mmcfd
Future supply:
Sound Energy (phase 1). From 2024: 10 mmcfd
Sound energy (phase 2): from 2025: 33 mcfd
Chariot (from 2025/26): 60 mmcfd
SDX: 5 mmcfd produced in 2022, and growing
Total supply already commited for internal consumption: 108 mmcfd
Since Morocco's gas demand will be substantially taken care of by these developments, excess gass will be freed to be exported to Spain.
After having internal demand attended, the economics of future gas discoveries could be calculated taken into account european gas prices.
Regards
Fernan
I think we all appreciate articles like this and thanks to all that share.
The thing is, we keep hearing how the Moroccans are desperate for our gas, but still we seem to get no closer. It would pay their government must to help us finance this ASAP. Even if they paid for the pipeline. The next deadline is looming, we have a live Q & A tomorrow and still no news.
Also taking a position for further offshore drilling.
Lot of confidence in in Morroco it seems.
Genel are very experienced land drillers in Iraqi Kurdistan !!
Just saying !!
ddboy
I especially like this bit
"""
Fundraising for the second phase of its implementation was carried out in July 2022. Afriquia became a shareholder of Sound Energy in August 2021 (before the Akhannouch government), giving credibility to the realism of the project in the eyes of neophytes (gas prospectors and oil often make optimistic announcements)."""
Well done Ducati,keep em coming thanks.
No Mr Crude you were lambasted for comparing this CEO,s performance /administration to the last CEO,s administration, as you stated that " at least the last administration something happened " or something to that effect that's what pi55ed people off and if you don't understand that then that alone speaks volumes and answers all my curiosity
They ask for questions!?
Well unless we are told something new it will be the same answers as January won’t it?
Isn’t the new deadline 15th March. What is the point in doing the questions now? Leave it a fortnight....I’m getting frustrated too, just waiting and waiting.
Give us something new to ask about!!
MOROCCO AT THE DAWN OF SELF-SUFFICIENCY TO SUPPLY ITS POWER PLANTS WITH NATURAL GAS.
Here we are ! We now know that Morocco's two combined-cycle power plants should be able to be, "soon" for those who know how to be patient, fully supplied with natural gas from the Moroccan subsoil.
Forcing Morocco to look for other sources of natural gas supply and a use of this cumbersome "pipe"[1] that the Maghreb Europe Gas Pipeline (GME) could have become, we can thank Algeria for having stopped to supply Morocco, even if Spain was a collateral victim.
ONEE and Chariot Oil (prospector then operator of the "Anchois" off-shore wells in the "Lixus" zone located off Larache) would have signed in December 2022 a contract to supply natural gas for 10 years of 625 MNm³ per year (millions of "normal" m³) for the combined cycle plants of Tahaddart (384 MW in the North) and Aïn Beni Mathar (452 ??MW in the East) which both produced an average of 5,700 GWh per year between 2012 and 2018, consuming 1.034 billion Nm³ per year over the same period.
With a first submarine section, a gas pipeline whose cost has not yet been announced will transport natural gas from "Lixus" to the western section of the GME within two or three years.
In all likelihood, and under the extension of an agreement already signed with ONEE in 2019 (for only 30 MNm³ initially), the additional amount, calculated at an average of around 409 MNm³ per year, should be able to be supplied by Sound Energy (prospector then operator of the TE wells in the Horst zone located in Tendrara), from the wells through another 120 km gas pipeline which will go to the eastern section of the GME (for 5.67 billion Dhs, i.e. almost twice the price of a motorway of the same length).
Fundraising for the second phase of its implementation was carried out in July 2022. Afriquia became a shareholder of Sound Energy in August 2021 (before the Akhannouch government), giving credibility to the realism of the project in the eyes of neophytes (gas prospectors and oil often make optimistic announcements).
It goes without saying that after that, it will become useless to continue importing liquefied natural gas, currently gasified in Spain before being sent via the GME. Implementing the transition phase where the two will co-exist will not be technically obvious.
The nihilists will think that 5,700 GWh annually represents only 13.5% of the net electricity called for in Morocco in 2022 and that the supply of 1,034 MNm³ of local gas for the production of electricity would "only" bring nearly 4% energy independence to the 24 Mtoe that are consumed there, but the fact remains that, in recent years, it is still "the biggest drop" that will have contributed to the country's energy independence.
https://www.ecoactu.ma/gaz-naturel-autosuffisance-centrales-electriques/
KTF, "still very positive but getting impatient": I was lambasted for such sentiments!
Crude - just saying..................
no one has a live Q&A before a cash call, it's not like they would need to persuade us!
I expect it’s to get us ready for a cash call again, but hopefully comes with something sweet to make it palatable!! Gla
get news this time.
I know often these things are not in a company's control, but if you think it will take 3 months, set a deadline for 6 months!
I do wonder why they would set a Q&A if there is no new news or sigificant progress to discuss.
Still time I guess but getting tight.
still very positive but getting impatient now.
Joe - I do agree in that respect that its unfortunate timing, but at least we will be updated with ongoing developments and whether the BOD's are on track with everything. I think we should at least be able to decipher this from the q&a.
Lets just hope that there are no further extensions to the 15th March deadline though.
Gary and Graham both seem keen on a quasi debt financing option to me which is how I think this will play out.
GLA
With a revised funding deadline expiring in a couple of weeks are we really going to have no new news before hand..??
Why not leave it until then?
They cannot tell us anything new so what is there to ask if no news?
Sound Energy
@soundenergyplc
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Only a couple more days to go so please don't forget to submit your questions. Link to the live Q&A will be sent to all those registered on the platform. Any issues e-mail s.dees@soundenergyplc.com