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Another saying springs to mind “plus ca change” !
As soon as Trellis started to get all legal on his a55, all remnants of those 10 quid won't cut it. The vids were taken down.I can vaguely remember someone on here had recorded them all .The age old adage or that old chestnut " its too good to be true ", ended up being true
"GL knows full well this is cheap as chips."
Graham can be as confident as he wants on a promotional video but what I want to see (in support of your comment) is the fibre of his fabric by going out and buying shares in SOU.
I've met Malcy in Italy and Morocco. Lovely, lovely chap but he is paid to promote views so I would take his words with a pinch of salt. Interestingly, none of his videos from the Parson era are viewable. They're either locked or have disappeared.
He wont be retiring with Sound stock, how many shares/options does he own and does anybody know if the 2d Seismic has been re - re-interpreted again and again and again
Its seems to me GL is pretty confident and has a clear plan.... sub 1p is a steal... even malcy alluded to it and GL said its the AIM market...some companies trading less than cash balance! GL knows full well this is cheap as chips.
Started: keeptofacts, Today 09:32
Last post: sundance4, Today 11:23
Interesting comment half way thru , " If im still here " ,why GL where yer going ? Was it a slip of the tongue, or can it be assimilated into his other comment, "I'm getting a bit long in the tooth ", jeez I would bet he's younger than some of the LTH,s on here who have been royally bu55ered by the last bunch of snakes .But on that note, he did comment on more than a few occasions on his seemin gly """ honest """" intentions to do right by the LTH,s almost like he truly thought the last management took them all for a very happy clappy bunch of idiots, he seemed to not care much for the people who have invested now as I really do think they will make a decent return on this in about 3 - 4 years but yes he indicated a little compassion for those who were conned ( split between their own greed and the previous Bod b/s) so for that he got my vote .
What
Don't ignore the possibility that managem could buy whether is remaining from sound. Gl becomes an advisor, if need be, Argent and the finance guy would join msnagem...
Just hoping PIs interests are not collateral damage.
£5.88? :)
Id wager all of those sells @.98 are actually buys... mine was
"But on a more serious note, where would cash for this come from?"
I'm glad someone asked. As I've been saying for a long time about the Calvalley deal -- and it applies equally to Managem -- it doesn't bring forward the date on which SOU will have spare cash. It's still highly debatable whether SOU has the money to repay its bond holders in December 2027. Phase 1 revenue won't cut it.
The RNS contains no mention of the timing of Phase 2 FEED or FID. So we don't know if SOU gets any Phase 2 revenue by 2027. In any case they're unlikely to have any cash to splash before 2028. The $13m in back costs for Phases 1 and 2 only keeps them tottering along until then. In any further joint drilling on Tendrara or Anoual (on which they don't get to call the shots) they still have to come up with their 27.5% of costs. SIDI would still need a farmout.
SOU is still years away from being a stable revenue generating company. I expect the share price to reflect that for a long, long time to come.
Just had a listen. I thought it pretty positive. I am keen to learn what other projects they have been looking at.
I hope it isn't Angus energy again lol. But on a more serious note, where would cash for this come from?
Last post: bigbench, 20 Jun 2024 23:08
To be honest I don’t care as long as the report Malcy puts out paints GL and SOU in a good light with plenty upside! Yes him and parsons shared the odd pizza I’m sure but then again Parsons had many of us eating out of his hands when the SP was soaring towards the £ level.
Nail down your pies, lock up your nibbles, the sweaty fat chap’s in town. What’s it come to when you rely on Malcy to try to pump the market?
It looks like the Parsons era all over again as I said yesterday- GL and Malcy now best friends? Shocking !
Ducati - really ? You post pretty boring stuff but usually a bit harmless but this ?
Malcy will say anything you want for the first crack at the buffet table.
Started: KevinRound, 20 Jun 2024 20:00
Last post: KevinRound, 20 Jun 2024 20:00
Evening all,
How long will it take for sound to finish with the rig. I can’t see anywhere where it says x days/weeks to complete the process
.
Started: Chesh, 19 Jun 2024 15:11
Last post: sundance4, 20 Jun 2024 13:05
Totally agree Ps as where does it say Managem has studied the 2d Seismic .I am sure they have looked at it but have they made their decision to start drilling based on it as to look would of cost them, Sound wouldn't just let them study it for nothing so now they have stated they are interested in the binding agreement then I can only assume they will look deeper into it and the last time that happened it took over a year .Nothing is going to happen drill wise this year
"this is likely to be a minimum of 3 months or more, but I presume this drill sites can be fully planned and ready to go just prior to execution of the Managem deal."
Anyone thinking anything is going to be drilled this year is off their rocker. SOU are about to give up their operatorship and Managem have no oil drilling experience. After the months it's going to take to complete the deal, Phase 1 is a year and a half behind schedule. Wouldn't you think they're going to spend a bit of time rescuing the current mess before they start a whole new drilling project?
John Argent on his linkedin about his role
at Sound energy!
"Additionally, responsible for subsurface evaluations of the Company’s business development activity in Africa, Europe and the Middle East."
I can honestly say...I will sleep peacefully now..knowing that sound energy will be double treble this time next year...beautiful feeling..
Great interview..
Full of confidence.
Interesting to note that handing over the reigns frees up bandwidth for other ventures which they have been looking at. Hinted something already in the works.
Started: Pescado, 20 Jun 2024 08:37
Last post: smudger63, 20 Jun 2024 12:58
Liverpool Echo is a Manc rag, Pescado.
Looking at the future, just another reminder.with Sound Share Price rising …..
We will all have a choice of wigs with Rollers, but don’t stoop shopping at Tessys, more update in the Liverpoolsecho.
Future FOR SOUND ; BUY BUY BUY.
Started: Ducati2, 19 Jun 2024 18:43
Last post: Metooooo, 19 Jun 2024 19:40
Those who have averaged down (hopefully good for them) might get 3_4p if the drills are good.
Agreed... my grey hair coming through can vouch for that!
Bigbench……. We just need a little patience, it’s been a long hard slog!
GLA
Last post: bigbench, 19 Jun 2024 18:34
Nice one Ducati 2.......its all coming together.... literally.
Last post: Adam2911, 19 Jun 2024 16:56
Started: Tincan1995, 19 Jun 2024 16:52
Last post: Tincan1995, 19 Jun 2024 16:52
Https://www.middleeastmonitor.com/20240530-algeria-makes-8-major-oil-gas-discoveries-in-2024/amp/
Hope some on Morocco soil asap
Started: Ducati2, 19 Jun 2024 16:48
Last post: Ducati2, 19 Jun 2024 16:48
Fiction…….Get a grip, Drama Queen.
It gets Bad when the no share holders post more than the share holders. If you and your mate Kyle lost money move on. Ffs who cares what you both think and Kyle do you really need and try to become a key board warrior!!
Thanks for the advice!!
Started: bigbench, 19 Jun 2024 10:16
Last post: Tincan1995, 19 Jun 2024 14:30
10 p maybe a while , but the drills , sidi news maybe our salvation one day. Been that long I’ll be needing a zimmer frame & not a zonda . Gla
Hi Edman... i remember it well.. a Goodnight had by all! .... hold on to those golden nuggets as the SP soared towards the £ and now look where we are! il be delighted it this got back to o 10p as ive averaged down so much ... time will tell if that's been a good move or not!
Hi Big bench, few years since we were on top of the Gherkin, nice to see you still here. It would be even nicer if this share eventually shows a return 😄
Thanks big bench, going by the trade prices all the recorded sells have been buys, I was thinking most of yesterday's were as well. Good to see you back 👍
...was actually my buy... crafty buggers
Adam2911: "Should finish blue today"
It didn't.
Adam2911: "Now is the climb to 3p-4.5p range before end of year"
You mean to SP Angel's long term valuation BEFORE SOU gave away an additional third of its share?
Adam2911: "good bye 0.9p"
Back in the 9s as we speak.
Adam2911: "Sp goes up 2p in coming weeks."
Check back with you in a fortnight.
Adam2911: "Drilling gets going, 5p-7p. This time next year 10p -20p range."
Said it before. Would love to wager on that, but you won't.
Adam2911: "Can't wait till the market opens monday mornigh...hurry up sunday."
Message from the future here. Don't bother setting your alarm.
Thanks for backing up my theory - who would be happy with a slow rise in SP after a major deal is announced? Doesn’t make sense and a lot of people know it.
NT to buy on IG..........! :()
quotes for 250k that is.....! more is a premium.....!
All the best (worth the wait......! :()
Should finish blue today..I'm happy with a slow rise...once bank loan for phase 2 is signed.next few month .then its up and away.closer we get to production the institution will start getting involved. All is good at hm soundenergy...soundboy.
Started: bobtheream, 18 Jun 2024 19:48
Last post: bobtheream, 18 Jun 2024 19:48
It’s a sea of green again today, the 🤡 must be getting rattled…..
Started: Rubber.Soul, 18 Jun 2024 11:00
Last post: kylie75, 18 Jun 2024 17:55
Half time.
Kind words KTF, your concern brings a tear to the eye.
Scarf don’t worry I’m not going anywhere.
Motivation is irrelevant. Someone’s either posting sense, logic, facts, or not. If you think not, then just filter, that’s what it’s for, anyone that’s ever read a Pescado post knows that!
It’s an anonymous bb ktf, like any sane person I’d hope, I’m not here for any reasons other than my own. It’s clear most here have pretty low expectations already, but I still think there’s a few negative twists & turns to come. Time will tell.
I was hoping for all fact rather than most Kylie. I read what you say with interest as there appears to be little knowledgeable response to your comments I have made it clear before that I know nothing of this business. I have effectively written off this share at a £30k plus loss. Nothing to some I am sure. However like so many of the long term investors, I wonder what your motivation is to post on this board. I'm guessing, someone in authority at SOU, either past or present must have dealt you a spiteful blow. If so, you're getting your own back, a bit. Keep posting I love it.
No, most of what I post is fact, uncomfortable fact for a few, but fact nonetheless. then you just need a little experience and nouse and you join all the dodgy little dots and then I decide to invest or avoid. this one is definitely in the latter camp as the last 7yrs have proven the right thing to do. rotten egg this one, both company and managament, but you'll work it out, perhaps. you can repeatedly try and paint a turd with gold leaf, try and trick and confuse a few gulliable ones, but underneath it's still the same thing.
Thanks Rubber
Mmmm ! Now it’s various groups made errors on the votes not one or two and the AGM was cancelled for that reason- OK ! The deal was announced on Friday afternoon due to another religious excuse- OK ! It all seems very plausible to me 😂
Started: keeptofacts, 18 Jun 2024 17:31
Last post: keeptofacts, 18 Jun 2024 17:31
You serious;y need to seek help.
you've been posting todsy since 5:20 in the morning, for over 12 hours on a company you have NO FINANCIAL INTEREST in.
that is not the actions of a mentally well person!
and before you come back with'you've posted x times' it's not the number it's the amounrt of time.
I post when at my desk working on the day job (not sound related) as I just stick the the share chat on one of my monitors and it gives a diversion from the day job.
I do not post when I'm not working as I go outside (you should try that).
what can you possibly hope to gain from this unhealthy obsession?
let's just say for a minute you're proved right, so what? no one cares whether you're right or wrong. None of us know you (thankfully).
are you one of those idiots who need to justify their previous actions? do you need validation?
you won't get it from anonymous BB posters.
I'm taking a beer to the garden, lovely evening in rural Suffolk.
Started: keepingitfiction, 18 Jun 2024 16:40
Last post: keepingitfiction, 18 Jun 2024 16:40
Mmmm !
Started: kylie75, 18 Jun 2024 16:31
Last post: kylie75, 18 Jun 2024 16:33
Cont....
Board Change
Following the signature by the Company of the binding SPA between Sound and Managem Simon Ashby-Rudd, a non-executive director of the Company, has informed the Board that he does not intend to put himself forward for re-election as a director of the Company at the Company’s AGM to be held on 28 June 2024 (“AGM”). As a result, and with the transaction announced today providing the financial and operational security for the next stage of Sound Energy’s development, Simon Ashby-Rudd will step down as a director of the Company at the Company’s AGM to pursue other interests.
Commenting, Graham Lyon (Executive Chairman of Sound Energy) said:
“Simon has provided invaluable advice and guidance since his appointment to the Board and throughout the process which has led to today’s announcement. I and the rest of the Board thank him for his service to the Company over the last year.”
Cont.
55.0% of the Concession
47.5% of the Grand Tendrara Permit
47.5% of the Anoual Permit
Under the SPA, the Company has provided customary warranties and undertakings to Managem and, whilst the terms of the SPA are binding on the parties, the SPA remains conditional upon, inter alia:
Approvals by ONHYM and the Moroccan Minister of Energy of the Company continuing as the Operator of record of the Concession and the Permits notwithstanding the sale of the Sale Shares at completion;
Antitrust clearances being received;
Receipt of the written authorisation of the Foreign Exchange Office (Office des Changes) relating to Managem’s payment obligations;
Confirmation in writing by the Seller to the Buyer that no Material Adverse Change has occurred;
Approval of ONEE of the change of control of the Company pursuant to the ONEE GSA;
Removal of Sound Energy Morocco SARL AU as dormant subsidiary of SEME;
Approval by Schlumberger in accordance with the terms of Schlumberger’s profit-sharing deed in respect of the Concession or Managem negotiating and entering into an agreement with Schlumberger for the cancellation of the profit-sharing deed;
Extension of the Start Date/Deemed Start Date as defined in the LNG GSA;
Delivery of Completion accounts and Assurance Release Conditions; and
The approval of Managem’s board of directors by 12 July 2024.
In the year to 31 December 2023, SEME recorded a Profit before tax of £1,301,000 on no revenues and, at 31 December 2023, had total assets of £56,976,000.
Commenting, Graham Lyon (Executive Chairman of Sound Energy) said:
“We are very pleased to have entered into this binding Share sale to an excellent counterparty Managem SA. The share sale transaction of our UK company subsidiary, the Permits Owner, is structured to allow a smooth transition to Managem whilst bringing Sound Energy two new exciting exploration drills, substantial funding for the phase 2 development and past costs. There is also a production bonus once Phase two gas is delivered”.
I’m looking forward to catching up with Graham Lyon as this is a smart deal that ‘significantly de-risks’ phase 2 of the deal. As you can see from above the deal brings with it cash in return for back costs expended as well as the carry. Add to that the two exciting exploration wells giving additional upside and the rise in the share price is fully justified.
About Managem
Managem is an international mining group with resolutely African roots, with a presence in 7 countries across the continent. Initially present in metals such as cobalt, copper and zinc, it has since diversified into precious metals, with silver and gold. Today, Managem employs 5,009 people of 22 nationalities in 13 mining operations and 22 industrial units, all on the African continent.
Board Change
Following the signature by the Company of the binding SPA between Sound and Managem Simon Ashby-Rudd, a non-executive director of the Company, has
How this guy makes a living doing this i have no idea. he's simply copy and pasted the RNS and then wrote about 40 meaningless words at the end. anyway, for all those lovers out there, here's malcy's 2p (1p really) worth...
"Sound Energy
Sound announced on Friday the entry into a binding Sale and Purchase agreement for the partial divestment of the Company’s Moroccan assets by way of the disposal by the Company of the entire issued share capital of Sound Energy Morocco East Limited (“SEME”) to Managem SA for a total value to Sound Energy of up to US$45.2 million.
Key Highlights
Pursuant to the SPA, Sound Energy will continue to hold an interest of 20% in the Tendrara Production Concession, and 27.5% working interests in each of the Grand Tendrara Exploration Concession and the Anoual Exploration Permit (the “Anoual Permit” and together with the Grand Tendrara Permit, the “Permits”).
Managem will provide funding for Phase 2 development of the Concession, funding for two exploration wells in satisfying the work programmes under the Permits, a contingent production payment and recovery of past expenditures.
Sale of the entire share capital of SEME with an effective date of 1 January 2022, pursuant to which Managem will acquire the following interests in the Group’s Moroccan assets:
55.0% of the Concession (Sound Energy to retain 20% interest)
47.5% of the Grand Tendrara Permit (Sound Energy to retain 27.5% interest)
47.5% of the Anoual Exploration Permit (Sound Energy to retain 27.5% interest)
SPA consideration payable to and on behalf of the Group includes:
US$12.0 million in Concession Phase 1 development back costs through to July 2024 net to a 55% interest in the Concession and payable to the Group in cash on completion.
US$1.0 million in back costs in respect of Concession Phase 2 development and Permits back costs payable to the Company in cash on completion.
Up to US$24.5 million net carry through Managem funding of the Group’s remaining 20% interest in future Concession Phase 2 development.
Contingent consideration of US$1.5 million payable to the Group no later than one year after first gas from Concession Phase 2 development.
US$3.6 million net carry through funding the Group’s remaining 27.5% Grand Tendrara Permit interest in drilling exploration well SBK-1.
US$2.6 million net carry through funding the Group’s remaining 27.5% Anoual Permit interest in drilling exploration well M5.
Background to and further details of the Farm-Out
The Company announced on 9 August 2022 that it had initiated a formal farm-out process to identify a partner for the Concession and the surrounding Permits. With the Company holding its assets in Morocco through various subsidiaries, the SPA, which remains conditional upon certain conditions precedent, will see the Company dispose of the entire share capital of SEME (the “Sale Shares”), a UK company holding the Operating licence position and equity in Morocco a
Started: Chesh, 18 Jun 2024 14:12
Last post: Chesh, 18 Jun 2024 14:47
Keepingitfiction.......!
yep........! :()
All the best (plus one.........! :()
KTF's big big bruv, with 10x posts
Jesus Chesh - 33,405 posts !
Good for you kylie75, I'm pleased at that......! :)
so your invested then.......? :()
All the best (good stuff.........! :)
Haha, don't worry about me, i'm not bitter nor have i been burnt here, just got this company down to a t.
Started: Pescado, 18 Jun 2024 12:59
Last post: Pescado, 18 Jun 2024 12:59
I worked for Tessys for a long time.
Lots of Shares but chose others like Sound and I buy to earn profits.
My Hobby is cycling. Team effort get results.
I’m positive in life. Not negative, whatever.
We are here to Win.
Win for Sound ; BUY BUY BUY.
Started: Spencerhughes100, 18 Jun 2024 12:43
Last post: Tincan1995, 18 Jun 2024 12:44
Sidi
Trying to get my head round what are we now what’s left of sound
So first have we been bought out but are we still partners !
These two drills we have been given will they be 100% sound money profit or is it we just chose two site to drill.
The area where we now hold a minority holding do we have any say/control
Is there any thing left which is ours in Morocco
Started: Ducati2, 18 Jun 2024 12:34
Last post: Ducati2, 18 Jun 2024 12:34
Ignore the back ground noise!
This transaction between Sound Energy PLC and Managem marks a significant step in the development of the Moroccan energy sector. It also underlines the importance of strategic partnerships and investments to expand natural gas production capacity in Africa. By strengthening its infrastructure and increasing production, Morocco is positioning itself to meet growing energy demand and reduce its dependence on gas imports.
https://energynews.pro/en/sale-of-sound-energy-plcs-moroccan-gas-assets-to-managem/
Very tight trading range. Surely there must be a reason for that? Any ideas?
Started: keeptofacts, 18 Jun 2024 09:52
Last post: Jobbinscl, 18 Jun 2024 11:02
I would guess they simply had not formally withdrawn. So technically not dead………maybe life support
One thing I find odd is that Graham said all along that if Calvalley deal was dead we would be told immediately via RNS.
we haven't been told that, but clearly you can't sell something twice, so very strange.
anyone got a view?