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Sidi Moktar, we require an investment in electrical pylons and gas generator sets that or a gas pipe to somewhere? Plus the plant to extract the gas, and make the gas fit for its purpose.
Someone or several entities have to become interested enough to commit funds. Sound must commit and carry out additional work. Better just perhaps concentrate the spot light on the main play for the moment.
I’m glad the bond is now in discussion. This settles all of the PIs. We are excellent value at the moment. Covid isn’t a help to Sound. Just not our year.
Sound doesn’t require to fund a LNG, plant and it’s prudent an external source is paid from a percentage of the gas throughput as a fee. Better to buy in the LNG plant lock, stock and barrel that inclusive tech support and staff.
I’m sure we would be further forward if Covid wasn’t active.
What we have at the horst (TE 6,7) is a good solid gas supply. Only get better with flow.
We know what we know and we know we got plenty of gas. To when the world or locality wants our gas? Perhaps all these companies that plan to exit China, could assist in all our desires. And at the right price maybe the locals prefer more bottled LNG. Huge market there I’m sure. Every household cooking with our gas? Time will tell.
"Ps200306 can now provide an updated list of whom they filter on your que."
Happy to. I stopped filtering a long time back when most of the trolls disappeared. I'd like to say it's because they saw sense, but it was probably more a case of being smacked in the face by reality.
"We? Ps200306 has millions of shares and posts at every hour? Hmm. "
I'd respond, except I can't even figure out what you're accusing me of. I DO have millions of shares. I've posted on SOU once every two days on average in the last month, much of it in response to another particular ramper who has since disappeared.
Good morning trellis,
I hope you are well. I do understand the concept of democracy. I remember a screenshot and also remember remarking how easily that would be to fabricate, a " practice portfolio " screenshot.
The size of the holding was emphasised many many times by ps200306.
Dictorrial?
Dissenting voices barred?
Slippery slope?
Differing views by holders or agendas?
You also have an email of my holdings. After 12 years I would like a successful outcome for all.
I will question on here and directly to the company because I hold. I can also spot nonsense easily due to time served.
I think the new team can recover things.
Ps200306 can now provide an updated list of whom they filter on your que.
Have a nice day.
In case you forget your cover story. You own millions of shares and I was one of the list you would frequently publish and accuse of ramping
Pathetic ; )
We?
Ps200306 has millions of shares and posts at every hour? Hmm.
"Now that we are where we are the small percentage points don’t matter."
You can say that again! Since we started nattering about it we've suffered a one third dilution without ANY deal done.
Hi Trellis
Yes it will take a significant amount of capital but the revenue is massive. The BOOT proposed by sound and support by the blue chip consortium demonstrated that it is more than a viable proposition.
Everybody got greedy and wanted that extra few percentage points.
Now that we are where we are the small percentage points don’t matter. It is about getting the job done by hook or by crook ( pun intended). By the looks of the latest 2 RNS the people who could pull the rug, are not going to and therefore the door remains open for At least another 4 years to get the job done.
The horst on it own. even after dilution should be worth 4p. I wouldn't actuallty mind a raise if was to fund exploration of our other licences. Problem is they need to get the SP up pre-raise, which will take 2yrs IMO.
Bring down the house of cards I say.
Actually, there are THREE facts: There is a awful lot of recoverable gas, we have the rights to 47.5% of it, and we don't have the money to access ANY of it.
Hi Trellis
Yes I grant you the figures are a guesstimate.
But there are 2 facts. There is a awful lot of recoverable gas and we have the rights to 47.5% of it.
I think we all need reminding every now and again why some of believe there is great value in the company. We have world class partners in the license. and we have country level cornerstone investor. both of these parties are not running for the door, I wonder why????
I know we have the progressive report but I thought I would put the GSA and the BOOT numbers and the update TE5 production rate together. Now this is a quick Calculation for the new visitors to the BB.
Let’s say we get $8.5 a scf (I know that is a little high) If the production rate at Horst is 66MScf/day thats 8.5 X 66000 = $561k per Day. (Pipeline in place)
561 X 365 = 204.7 million a year.
10 years production = 2.04 Billion.
Sounds Share 47.5% X 204 billion = 950 Million for the 10 years production
Cost for the BOOT is a maximum of 45 million a year, Sounds share is 21 million Per annum.
Other Capex and and Opex lets say sounds share is 21 million per annum. Therefore a total of 42 million a year cost. That gives Sound over 10 years 950 – 420 million = $530 million
$530 converted to Sterling £400million EBITDA.
Gives approx 20p + a share.
Also over the 10 years that works out at 240bcf. That is less than our recoverable reserves.
And this does not include SBK gas discovery or sidi moktar gas discovery.
Or any of the potential massive exploration upside.
Threaten you, Trellis?
We only hit a £1 because JP was ramping the share to high heaven with talk of a super-giant connected gas field. Turned out out not to be the case which in my opinion he knew already.
Regarding our cash situation going forward, clearly Graham isn't shy of issuing warrants so why not give everybody the chance to own some. Though not by having to call someone on a minutes notice like the farce last time. For all of JP's faults, the 24p warrants were a good idea (at the time).
We may have a $2billion resource but it means absolutely nothing if we don't have any money to develop it or stay afloat. It also means very little if that ownership is further diluted by further fund raises by dilution.
Sidi is a joke in itself. Again, the gift that never gave. Targeting a mere 60-80bcf at far deeper levels. An extension to have to find even more money that we don't have. I'm sorry but if this could have been salvaged or was as world class as it gets, then the melt James Parsons and his cronies (that includes the pribate investors who had regulate WhatsApp chats) would have stayed around instead of jumping ship.
Hi all
Been around this share along time so let's over simplify, a few years ago it was worth a pound a share with 900 mil shares in circulation The company had no income and had Mr P in charge
. So this is the over simple bit let's say we dilute to 3 bil shares that still leaves the possibility that we could reach 33 p a share. In a couple years if we can survive I recon for most that would clear their losses So there is slim hope. Bearing in mind we are making progress to bringing in income and we I believe we have a reasonable chairman now
This is 2 very positive RNS recently. The sidi mortar RNS can be seen as a massive endorsement of the current Sound BOD by the Moroccan government. You would not expect anything less with OGIF now heavily involved.
This latest RNS is a massive endorsement by our bond holders.
Let’s not forget we have our share of over $2billion worth of recoverable gas still in the company, no dilution of that.
We now also have a 2 year extension to Sidi, thats well more than Europa got recently. That opens the door to a farm in. That is the next RNS that I would hope would drop, that could be any day now. Imagine if it is a super major like shell or repsol.
I would say it is worth looking at the last interview with GL. He must have know that these 2 large RNS where on there way and he did not over promise. I think we are now in the hands of a steady and resilient CEO. Good look all.
Ericnat17 `it could mean it`s progressing behind the scenes` Guess what mate it could mean it`s not progressing behhind the scenes. Sorry mate but what a nonscensical comment to write. However, i do realise that desperation and maybe nagging partners ( you said we would make a fortune) along with the strees of losing your money makes people say stupid things.
Yet again repayment of debt is loking to be delayed. Dilution of share value to follow. The only good news is no news on the tax issue. Anyway as Ericnat17 wold no doubt point out `no news is good news`