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AussieRidge - Greggs, Wetherspoons are up there in the talks.
Sbk, Te11, M5 near term drill ready prospects
How many companies are have had acknowledged communication with Sound Energy in relation to being a Farm Out Partner for Sidi Mokhtar in the last 4 weeks.
John Argent (Exploration Manager)
We continue to engage with a variety of companies with regards to the farm-down of Sidi Moktar and will provide an update once an agreement is reached. We are maintaining this as a competitive process it would be inappropriate, and not in our interests, to disclosure further information at this time on any on-going discussions.
Was there a technical issue? No Sound?
Once first gas is achieved how would sound be paid. Is it on an annual basis etc?
Garry Dempster (VP Finance & Commercial)
Pursuant to Sound Energy’s remaining interest in the Production Concession, production revenues would be distributed among the participants in proportion to their remaining interests. Normally within the oil and gas industry, production revenues are distributed on a monthly basis.
Do we have a plan for further exploration in Eastern Morocco?
John Argent (Exploration Manager)
Yes very much so. We have multiple near term drill ready prospects including SBK, TE11 and M5. We believe this is what is required to unlock the basin potential. We are therefore very focused on drilling these and other exploration wells. These opportunities were outlined by Brian Mitchener at the last AGM.
Sidi Moktar - 1) How long would seismics take to complete 2) at what cost to sound 3) How quickly could we start if we wanted to?
John Argent (Exploration Manager)
The time to complete onshore seismic acquisition depends on the size and to a varying extent the design parameters and terrain to be covered. As a general rule of thumb onshore surveying with vibroseis in relatively benign terrain should acquire data at a productivity rate of 6-12 line kilometres a day. For example in Tendrara and Anoual we achieved an average productivity of 10 line kilometres per working day across the life of the survey. Excluding mobilisation and demobilisation a 1000 line kilometre acquisition should be completed in approx. 5 months.
anyone has a working link? tnx
Are the major shareholders in Sound Energy happy with the "agreement" and the share price?
Sound Energy (Administrator):
Apologies, we cannot comment on third party opinion.
Dempster actually has a half decent CV... Can't be any worse at this nonsense than JJ or BM
Thanks for this question and I can reassure you that whilst the Company has focussed on the sales process for the Eastern Moroccan Portfolio we still maintain activity on our Sidi Moktar permits in the west We also continue to engage with potential farm-out candidates and we will provide an update once an agreement is reached. We are maintaining this as a competitive process it would not be appropriate to disclosure further information at this time on on-going discussions. We have been awarded the environmental permit following completion of the Environment Impact Assessment and Community Consultations. Whilst this region of Morocco has experience of oil and gas exploration and production operations in the past, the last seismic survey completed in the region (operated by Longreach Oil & Gas Ltd contracting Prospectiuni S.A. from August 2012 to February 2013 comprising 520 line kilometres), we are mindful that there is a higher population density and agricultural acitivity than across our Eastern Morocco portfolio. The community engagement has necessarily been an extensive exercise undertaken over a 10-month period with an experienced local specialist consultancy. In parallel, we have also completed a market enquiry engaging with leading service providers for service availability. We have received positive responses from multiple providers. As we are maintaining this as a competitive process it would not be appropriate, nor in our interests, to disclosure further information at this time on on-going commercial discussions.
Liquidation
There is a plan b if deal doesnt go through
Garry Dempster VP finance and commercial????????
What is the sounds current employee head count (including contractors and zero hours contracts)?
Garry Dempster (VP Finance & Commercial):
As announced, we are resizing staff in line with our current operation and in preparation of the ongoing discussion to transact with our potential purchaser. The exact numbers will be shared in the 2019 annual report.
try the Bav link post at 12.45
So we have not come to the end of our Moroccan story yet. We are at the start of a new chapter for SoundEnergy in Morocco. We need first to close the deal with the selected private company and then help our new partner efficiently deliver first gas, securing a key gas supply to the nation of Morocco and to guarantee future profitability for SoundEnergy.
To me, so far all I hear is inferred dilution.
is there anyone else who has not been able to got onto the board? All links tried still cant get in
Brian to find some gas, new strategy. Brian, have a look for my money whilst you’re down there!
I think he means sell JP to the highest bidder in an auction.
" We have multiple options for profitable ways forward"
"On the exploration side, I was also asked to deliver the drilling operations TE-9 and TE-10 on schedule, within budget and safely. Even if the outcome was not what was expected in term of commerciality, the joint team Schlumberger-SoundEnergy in Morocco I led delivered a great job."
But it was a failure...
Mo...my first job was milk monitor at primary school