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"It's been half an hour and there's not been a negative spin put on it. Come on guys you were all fingers last night."
Well, it's only half an hour since I got out of bed. Does that count?
Yes, this RNS is a sign that SOU is gearing up for exploration and Graham will be announcing the drilling plans tonight. I'd expect to see a large bounce in the SP today. NOT!
I am quite literally speechless how clueless some of the people on here are. SOU have missed a bunch of work requirements on their permits. Or, rather, they WOULD have missed them had ONHYM not conveniently kept extending them or altered the terms. I predicted here a couple of months ago that we would be getting an RNS about an Anoual permit extension, if only the for the obvious reason that SOU had no chance of meeting the terms and ONHYM seem to have nobody else to turn to.
Did anyone even bother reading the RNS in conjunction with the December 2022 one? Because if you didn't, you probably didn't notice the stunt that was pulled. Today's RNS says that all the terms of the initial period were met and SOU are entering into the complementary period. The initial period was supposed to finish around the end of 2022 and the work requirement included the drilling of one exploration well with a Triassic objective. SOU obviously missed that by a country mile. They got a 12 month extension to the start of 2024 and missed that deadline too. Now the extension has itself been extended to July to keep them legal, and the well commitment has been quietly dropped -- you didn't see THAT mentioned in the RNS.
In fact, the RNS could be read by a sufficiently gullible person (which clearly includes some on here) that it's all about SOU's plans to move ahead with drilling M5. But that reference is merely to the aspirational farmout program announcement in a nearly two-year-old RNS, for which SOU got no takers for the drilling part.
Calvalley clearly saw an opportunity to make money by gouging a large chunk of the Tendrara concession from SOU while they were strapped for cash. And they still haven't even fired up the engine on that piece. Assuming they do, it's no guarantee they have any interest whatsoever in going wildcat drilling in Morocco's calcification-prone Triassic. This is just another can kicked down the road. There will be plenty more over the next 2-3 years during which SOU have no money for exploration.
Someone who doesn't hold SOU shares and is intently watching the SP whilst throwing in negative narratives is either very bitter and twisted. Or, the more likely scenario is that person wants cheaper shares and is vein enough to think his / her comments on the BB make a difference.
Yes i appreciated it was a delayed reported sell rubber, but i'm not sure it changes the narrative?
agreed St.Mary, have been some buys but sell pressure is clearly much more aggressive than buy pressure which is often quite telling imho. time will tell. i'm just joining the dots.
And in the interest of balance I’m guessing the investor who just bought 2 x 647k also thinks differently 🤷♂️
Kylie, was delayed from 9;57, seems a silly price to have sold them for to me but heyho.
I’m guessing the investor who just sold 2m at 0.7p thinks differently
Agreed SE, that could have been the finial hurdle SOU needed to cross before the ink flows...lets go GL!!!
Southend...
Well said.
In my opinion, this RNS is very reassuring news while we wait for news about the Calvalley deal.
Reassuring because ONHYM only grant licenses/permits to viable enterprises after they have conducted their due diligence processes. Rest assured that ONHYM have done this work on Sound recently and I suspect spoken to Calvalley and the Attijariwafa bank. Only then do they allow variations on permits.
This is good news.
Roll on this evening and lets see what positivity we can get from Graham.
Thanks for not elaborating Keeptofacts. I'm sure someone knowledgeable would shoot your answer down in flames.. As usual. Good luck all the same
Scarf - that's because barring a few unresearched chancers on this forum (whom I still think are more likely shorters of some kind, as no one can possibly post nearly 3700x and be wrong every time and still keep posting), no one is buying the RNS this morning, it shows nothing. The market has had it with bs from this company. They've rinced the market too many times and just time after time fail to deliver. SP says it all.
Now 0.79. Positivity not reflected in the price is it? GLA
Don't worry i'm still here SB. you're such a gobby joke. the best bid is currently 0.756p, that's lower than the low of yesterday. you can buy for below 0.80p. no one with half a brain is sucking up this garbage from these lot anymore. revenue and profit is the only life raft that will save this company, not never never RNSs about exploration the company has NO CASH to pay for. How long based on your calcs will it be until Phase 1 profits to SOU are sufficient to pay for exploration? Appreciate you don't like facts or reality, but look at the SPA detailed last valuation doc and you'll see - never is the answer. The company has no money. Like I've said countless times, GL doesn't care about exisiting SHs. You'll notice tonight it's all about 'the company' this and 'the company' that, not how he'll deliver for existing SHs. You'll at best get watered to oblivion here. Based on the new lower sp again today, despite your unresearched unfounded hopes re today's RNS. The SP is again lower not higher today, seems many investors see it the same way. Amazing how posting 6-7 garbage posts in less than 1.5hrs is acceptable if you're blindly bullish on this share, if you post a couple of well founded objective critical posts you're accused of spamming this forum. What a SOU love-in this place is.
Yes
Plenty of positive posts. Share price is currently 0.8p. Am I missing something? GLA
Don't think kylie75 will be making an appearance today.
Up 10%..market likes the rns
We have time on our side now.
Personally I hope Graham tells cavalley no deal.
40% is a lot to give away.there are others interested .Once we are producing we can fund some drilling ourselves...future looking and getting better.i for one am happy with today's Rns.bring on the presentation tonight.
You can be certain there is at least one p!$$ed off reader of that RNS this morning 😊
for me, this is excellent news, underlying the company and Morocco’s commitment to exploration.
Let’s get this Calvalley deal over the line and Sound has a very bright future 😊
It's been half an hour and there's not been a negative spin put on it. Come on guys you were all fingers last night.
I strongly rate John Argent having spoken to him at the various presentations and very pleased that he has remained with the company.
Onward & upward.
More good news from Sound while we wait for the long overdue Calvalley announcement.
Lets hope that it is soon
Looks like we will find out about exploration and drilling plans tonight.
John Argent, Sound Energy's VP Geoscience, commented:
"We are pleased to have secured these improved and extended terms across our Anoual exploration permits and progress into the next phase of exploration across these permits. We thank our partner ONHYM for their continued support during the constructive discussions we have had and, as partners, we await the necessary Ministerial approvals to conclude such that we can progress with our exploration activities. The Company looks forward to updating stakeholders on our drilling plans to unlock the compelling potential of this basin leveraging the gas infrastructure we are developing at the TE-5 Horst."