The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Buy yourself a domain name (<£5). Get some free hosting. Add a forum.
When someone objects to a post, it's common for the mods to remove the entire thread, not just the offending post. That would include seemingly innocent posts - collateral damage.
Agreed Maldini, were I the new CEO I'd firstly want to make it clear how things will operate going forwards, hence that document. I'd want to make it clear that past practices are just that - in the past - and a new broom is sweeping though our company. My substantial holding has been decimated like many others, but I'm holding out for some change of fortune under the new BOD.
It really can't get any lower, so the only way now is UP.
No rose-tinted glasses here, I'm just being realistic.
Perhaps as a private company they can only raise so much?
I'm for offering Exploration a place on our BoD !
My pleasure. Just wanted to help those who couldn't log in to the Q&A.
Bedtime now, it's 2am here!
"Thank you all for your questions over the past seven days and for joining us in this session today. We have received an unprecedented number of questions in, and we have answered all that we can within the regulatory framework. Please be ensured that communication with shareholders will continue, however whilst I bed down into my new role, I request that emails are directed to questions@soundenergyplc.com where the team and I will be happy to respond. I look forward to meeting with many of you in person, in due course."
Considering they said they had received "hundreds" of questions, they now seem to have run out...
Question from Jas
Why can’t shareholders be paid the dividend from The initial payment?
Garry Dempster (VP Finance & Commercial)
Question #2714
Question from ingson
Given the performance of the share price and and it's reaction to the "agreement" have Rothchildbeen a total waste of money? How much have they been paid?
Garry Dempster (VP Finance & Commercial)
Question #2644
The pace of the Q&A seems to have slowed down dramatically.
Question from Ash
Would it be fair to assume that Te11 wasn't drilled because of a lack of confidence in a positive result. If not, why not drill it?
Brian Mitchener (Exploration Director)
Following the very disappointing results of the TE-10 well test the Board took the decision to explore monetisation options available to us. We decided to market our eastern Morocco portfolio with the view to a sale prior to FID. We therefore paused our operations until after the results of the marketing process.
Question from Boderisimus
What proportion of income from the TE5 horst will be returned to shareholders as dividends?
Garry Dempster (VP Finance & Commercial)
This would be determined by the BOD at the appropriate time in the future.
Question from emailedquestions
Is there any break-fee written into the 'Agreement', should either party pull out of the deal? It would normal to write one into a deal such as this, otherwise you are giving a free option to the interested party at the expense of other potentially more lucrative opportunities.
Sound Energy (Administrator)
Unfortunately we are unable to give further details on the agreement at this time.
Question from pablo2
It seems strange that Due Diligence needs to run until February 14th, has this company not been in the loop for many months already?
Garry Dempster (VP Finance & Commercial)
The exclusivity period announced in the RNS of 6-Nov-19 is quite standard for a proposed transaction of this nature.
Question from pablo2
Quite clearly, judging by our sp, the market sees the Agreement poorly. Is there something that is being overlooked/undervalued by the market?
Garry Dempster (VP Finance & Commercial)
We are unable to comment on the share price.
Question from MattSherman75
The last we heard on Sidi was that there were interested parties but if this changed, an announcement would be required. Also, parties interested in Tendrara might be interested in both. Can you please clarify status and what is being done to ensure Sound can fulfil its obligations on the license within the required timescales?
Mohammed Seghiri (Interim CEO)
I hope the previous answers have given insight into our plans
Question from Kegster
We recently had a placing that raised I think 3 million. What is our cash position and what was this money used for ? Please tell me it wasn't for ending contracts for JJ and JP !
Garry Dempster (VP Finance & Commercial)
Question #2597
Question from pablo2
Could you give a run through of what the company sees as likely to happen to our S.Morocco license at Sidi Moktar?
Mohammed Seghiri (Interim CEO)
I hope the previous answeres have helped clarify our position on Sidi Moktar
Question from ingson
Are there any ongoing discussions with a possible farm in partners at Sidi Moktar?
Mohammed Seghiri (Interim CEO)
I hope the previous answers on our plans for Sidi Moktar have answered your question.