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Forget about the Morocco/Nigeria Gas pipe line...it'll take at least 25 years to complete.
https://www.bnnbloomberg.ca/nigeria-morocco-pipeline-inches-toward-providing-gas-to-europe-1.1819241
not having a go, just genuinely curious
if you would take as little as that, why on earth didn't you sell in June when the sp was higher than your target?
i'd take a third of that, soundasa...
don't think you'll have a problem with that. Tax sorted, phase 1, phase 2, farm in and exploration ....
my target is a lot higher.
Just a nice steady tick up to 7.3p now is all that's required .
VOXALLC yes you are endorsing what many posters, myself included have said that as long as they agree a payment plan the amount owed will be no problem.
I cannot see a scenario where they would not give time to pay. Hopefully the legal process will take a lot longer than the 6 to 12 months you mention. I believe that Sound have not yet received the reasons for the judgement on the first claim which was adjudicated some 3 months ago. Thats just their reasons. They then have to give you time to prepare your case for appeal and so on. My belief is more like 19 to 24 months.
What was all the panic about the SP is not far5 off what it was before the tax news landed.
Regarding the Tendrara area, exploration wells were dug between 2016 and 2019 based on scanning, processing and extrapolation of 3D seismic data, two of which confirmed the presence of natural gas, a- she clarified. She revealed, in this sense, that "this exploration will be developed through the creation of a processing and transportation infrastructure in order to ensure the supply of natural gas to the thermal power plants of the National Office of Electricity and Of drinking water ".
https://lematin.ma/express/2022/potentiel-petrolier-maroc-attire-285-milliards-dh-investissements-etrangers-leila-benali/381196.html
My view is that if it stays going through the courts, it will be a long resolution. 6-12months minimum. The only situation I could see a quick resolution is where a higher court just overrules prior rulings or more evidence, documentation comes to light.
But I do not see that as being a big issue either way, if the company can proceed with phase 2, then the cashflow generated would be more than able to deal with it, so for me it hinges on the financing and the partner coming on board and injecting sounds contribution, plus maybe any back costs in cash for a slice of the pie. Maybe I am dreaming.... but thats what would be the best result
I think people just see the over reaction to the tax rns of the 14th as an opportunity.
I would think the sp should at the very least be where it was pre rns. Although it was already sitting at a carzy discount then so a decent bounce would seem possible.
Any guesses on sp when (if) the informal tax discussions put that issue to bed?
You could almost say that SOU is counter -cyclical.....
Yeh he said similar to me when I asked, its clear there will not be any formal response, and I can understand given the sensitivities around legal negotiations etc
I am really interested to hear peoples thoughts on the move higher? I bravely or stupidly bought some more at approximately 1p, but was never expecting a rise like we have experienced, very un Sound like its probably one of the only green shares in my portfolio for the last few sessions.
Clearly we have an expectation of some financing news due by the end of October, which will be a potential trigger for further movement, but that still seems a long way off. I personally dont see the news on the tax as a change, its just re-affirming, and I think the reason Sound and GL did the RNS in that way, which as many have commented was not very GL like was due to the media coverage Sound gets in Morocco. So its purposefully meant to highlight the issue further up the chain, without it looking like Sound are going above due process. I would expect ONHYM were also probably involved in this.
Looks like the sp is finally waking up for a resurgence
I emailed Graham to ask if there was to be a response to the Q&A session, that those who couldn't join the Zoom session could access. As usual he replied amazingly quickly for such a busy man, but avoided that question, so there may not be any formal response.
He said that the tax issue was the main focus of the Q&A. They were still adamant they were right about the tax but that judges can have different views. Regardless, he says that they have plans in place to ensure the tax doesn't reflect on PLC in the worst case.
IMO, it would be great if they can now forget this tax distraction complete the mLNG delivery and get on with the Farm out and Phase 2 FID.
I'm rather more interested in whether Sound believe it is workable after talking to the head of the tax office, but heh ho at least you agree :)
Most posters including myself were confident that a payment plan was workable. It still is
and Sound also believe in the worst worst case scenario a manageable phased payment schedule would be possible.
so, despite what some tried to spout last week, Sund is not finished (whatever way this goes) and for whoever spouted 'dead cat bounce' the cat is very much alive.
Sound met with the NEW head of the tax authority and have instructed NEW lawyers to present Sound's case in a more structured way. (not my words). Sound remain confident of a good outcome.
I would guess it was because they were quite open about the tax situation and probably want to share a little information with us, whilst retaining a little secrecy.
But who knows.
They were quite confident about the tax issue. But acknowledge it still may go against them.
Any reason why? , as not all of us who work, can listen
Come me on sound , make it available, thanks
Apparently not going to be released.
Was just about to ask the same??
Does anyone know we can access the Sound Q&A session that was held on Zoom today? It must surely have been recorded.
You get a tick up from me Crude its just for your tenacity ;-))
How about being bu55ered by the rough end of an unripe pineapple would be more popular