Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I can't remember ever agreeing with TLeg, but Trellis, he's spot on with you now. SAG needs a person upfront who can ask the right questions of the BOD, and attempt some accountability. Trellis, your recent comments make you out as bitter and sceptical. It's time for you to go and perhaps 'set up' with The Chuckle Bros. There's nothing wrong with optimism, and the new BOD have a plan, and the CEO is on record saying he is 'anti- share dilution'. The sp is a penny share. We all know it's there for a reason. Many on here, including me, have repeatedly said it's going to be a long , hard, rocky road. But the plan is to get to 1st gas, LPG plant, part financed, operating 2nd Half 2021, generate income, and then start gas exploration again with an OnG man at the helm. You seemed to deride my last comment, which I have used many times. I have for the past 6 years, stated many times hat an exploration company needs an engineer at the helm not a bean counter. I cant ever remember you, and any others btw, agreeing with that. It is now plainly obvious which strategy is best. Only time will tell if we have the 'right' engineer. Are you sure you have the 'right' strategy. Unless you change, I believe you should relinquish you honorary post.
Trellis, I think you are maybe being a bit unfair at the moment. I have been one of the most heavily censored questioners in the past yet on Sunday evening I received an invitation to record my questions, which unfortunately I could not do as I don't have a microphone attached to my desktop.
You ask for a better solution, well to my mind the best solution is for everyone to publish their questions then we can all see what has been censored and what has been openly answered.
To get the ball rolling here is the list of the questions Sarah asked me to record.
Sound Questions
What is the rationale behind forcing the PI to give up their pre-emption rights gratis?
Do you see a role for the Private Investor in Sound and if so what is it?
On the 10th March 2016 Sound announced HOT on the sale of 66.67% Of SEMS to Culebra Petroleum. Culebra Petroleum is advised by Toronto-based Comet Energy Ltd and London-based Lyndisfarne Partners Ltd on this transaction
Is the Comet Energy listed above the same company as the one mentioned on the announcement of your joining the Sound Board?
In the current Hot, the third party will procure a loan at 11.3%. If this company can procure that loan why can Sound not do it on its own behalf?
The current Hot mentions that this is a secured loan – what asset is it secured on?
On the second of June 2014 while serving on the board of Range Resources you endorsed a Vendor Finance deal with Chinese company Land Ocean that lead to the destruction of Range by the loss of all its Trinidad oil leases and production. I know you left the company in November of that year when you failed to gain support when standing for the chairmanship but did you learn any lessons from how that deal was structured and have you put in place any measures to prevent Sound from being held over a barrel by a non performing supplier who also controls the loans?
One of Sounds strongest assets is its 10 year tax holiday which starts from first gas. How much of the value of the asset do you intend to sacrifice following the current strategy?
The current CIP loan at 16.3% is not very competitive mainly due to the need to amortise the enormous “discount” over the length of the loan. Indeed if it was paid off early the effective interest rate would rocket up way into the twenties. The loan could be made more competitive in the current environment by extending the term by say 5 years rather than rolling the loan over with all the attendant costs and a new “discount” which would leave Sound in that same boat it is in now .Is such an option on the table or do you have another option to get the CIP hooks out of Sound’s flesh?
The new director works for what was formerly Petroceltic an Algerian focused company. Given the antipathy between Algeria and Morocco what is the rationale behind this appointment?
GLA
BF
Thanks Tincan, appreciated :)
nonsense maybe, but cheerful nonsense :)
not too long and I will be in profit, will you?
Maybe they are isolating trellis and working from home, if you aren't happy about the direction of the business sell all your shares apart from one so you can still be part of SAG.
Not fully sure , but I think Friday was mentioned for it to appear on the website.
I agree B B , so I got some more this morning... starting a rocking motion now !!!
Does anyone have any ideas when the Q&A video with Graham and Mohammed will be released, I thought it was due now?