Member Info for blinkanditsgone

3 pence by Christmas…..

Manzano grows in the oil business of Santa Cruz
It expanded its shareholding in the British oil company Echo Energy, which operates 70 percent of the Santa Cruz hydrocarbon blocks.

Manzano went on to control almost 2.5% of the birtánica oil company Echo Energy through its Andean firm, which exercised its right to redeem corporate debt securities issued by the oil company that offered the purchase option. The exercise of these securities was carried out at 0.25 pounds sterling equivalent to $0.30 at the effective exchange rate on the day of the operation, which resulted in the operation for a value of $8.28 million.

The decision reveals that Manzano seeks to increase its presence in the oil and gas production sector in the province of Santa Cruz, where Echo Energy has a stake in the Chorrillos, Campo Bremen, Oceano, Moy Aike and Palermo Aike blocks. In these areas, Echo Energy concentrates 70% of production, while the Norwegian Interoil has the remaining 30% and is in charge of its operation.
The Andean company was founded in 2007, a company whose board also consists of Alfredo Vila, Luis Nofal and Jorge Aidar Bestene, a lawyer who has economic interests in the province of Chubut. In fact, Manzano participates in the hydrocarbon business through various companies.
First of all, Phoenix Global Resources, controlled by Mercuria, where Manzano and his family are relevant shareholders. This firm operates in Argentina with 24 licenses, 13 in association with YPF, 6 in Vaca Muerta and 4 in the Agrio training. It produces ten thousand barrels and has about four hundred thousand acres in the Neuquén basin.
Second in terms of turnover is Interoil, a company listed on the Norwegian stock exchange. This company has operations in Colombia with an approximate production of 2000 barrels.
In addition, through Integra Oil & Gas, Manzano manages assets in Venezuela, with approximately 5,000 barrels of production and reserves for more than 40 million barrels.
He is also a shareholder of the firm Selva María Oil, an exploration and production company with a presence in Vaca Muerta and in the northwest and Gulf basins of San Jorge in Argentina.

Considering just over a month ago Werner Klingenberg was full of positives, would it not be wise to give some indication as to why such an important factor such as an annual audit has been missed?
Could be due to multiple factors, illness, batteries on the calculator dead or something to give concern going forward.
Radio silence will only add speculation.
Werner……

Re ps200306.
“I'm sure the devil's in the details”
Spat my tea out when I read that…..pmsl….

My cracker didn’t have a bang.
Well that’s was a bit of let down after initial +12% back to where the morning started.

Mon, 12th Dec 2022 07:00

RNS Number : 2942J
Sound Energy PLC
12 December 2022

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.



12 December 2022

Sound Energy plc

("Sound Energy" or the "Company")



Project Financing Update



Sound Energy, the transition energy company, is pleased to provide a project financing update in relation to the Company's Tendrara Production Concession, onshore Morocco.



Partner and possible Farm-Out Update



The Company announced on 9 August 2022 that it had initiated a formal farm-out process to identify a partner for the Tendrara Production Concession and the surrounding Grand Tendrara and Anoual exploration permits. The objective of the area-wide approach is to seek a co-investing partner in each licence to both fund the expected balance of Phase 2 development costs to first gas of approximately US$60 million net to the Company's working interest in the Tendrara Production Concession and also to progress an exploration and appraisal drilling programme in the Grand Tendrara and Anoual exploration permit areas (the "Process").



Following strong levels of interest in the Process from a wide range of credible and well-funded parties, the Company has now received quantified non-binding indications of interest in the Process from several parties and, following review, the Company intends to engage in more detail with the relevant parties. Further announcements will be made, as appropriate, in due course.



Phase 2 Development - EPC Contractor



In parallel with the farm-out process in progress, the Company has been developing relationships with various vendors to conduct Engineering, Procurement, Construction ("EPC") and potentially Operations and Maintenance activities for the Phase 2 development of the Tendrara Production Concession. Advanced negotiations are ongoing, with suitable Consortia to undertake such work identified.



Phase 2 Development - Lead Finance Arranger Mandate Update



The Company announced on 23 June 2022 that it had entered into an Arrangement and Mandate letter ("Mandate") with Attijariwafa bank (the "Arranger"), a Moroccan multinational bank and one of the leading banks in Morocco, under which the Company mandated the Arranger in relation to the arrangement of project debt financing for the development of Sound Energy's Tendrara Production Concession (the "Agreement").



Pursuant to the Agreement, the Arranger was mandated, and provided with exclusivity by the Company for a period of eight months, to arrange a long-term project senior debt facility with a term of no more than 12 years of up to 2.250 billion Moroccan d

Cont

Good progress continues to be made with the Arranger who has recently commenced technical due diligence. To provide sufficient time for this technical diligence process to complete, the parties have entered into a further amendment to the Mandate in order to extend the date by which they will seek to negotiate binding terms for the Financing to 15 March 2023. The exclusivity provided to the Arranger under the Mandate to arrange the Financing has also been extended to 1 June 2023.





Commenting, Graham Lyon (Executive Chairman) said:



"The receipt of credible interest from a number of industry participants in joining the Tendrara Production Concession development and surrounding exploration acreage is encouraging and the Company will now spend time to fully evaluate each and the structure of any potential future transaction. Identifying the Consortium for the Phase 2 development Engineering work is also key as is the structure by which the Company engages all parties.



"Understandably Attijariwafa bank require more time for their external experts to get familiar with the project as this would be the first Moroccan bank led gas development financing. We look forward to providing further positive updates as the various project milestones are delivered."

You been on the sauce?
Think I get the gist of your post but was encrypted somewhat.

Everyone wants LNG, even it would seem at any moral cost!
Come on Sound, get that gas to market.

https://amp.theguardian.com/world/2022/nov/29/germany-agrees-15-year-liquid-gas-supply-deal-with-qatar

Half year results tomorrow.
Word bingo
….favourable exchange rates……difficult trading conditions……poor exchange rates……high metal prices………low metal prices……Covid……unexpected costs……positive trading outlook…….. etc etc

I think the time to have started worrying was April 2021.
Steady sad decline since and nothing to be heard from the ‘new’ CEO since his initial all guns blazing Spiel.

Perhaps I been here far too long or perhaps it’s an age thing, but struggle to get as excited these days as I once did.Hopefully our farm-in partner may just bring something with them to get me excited.

Think the discussions over the weekend were predominantly about the tax issues and looking for clarification, as at the moment is all a bit messy.
Hopefully definitive answers soon from Sound. (Or the Moroccan tax authorities)
As for posting over weekends, wasn’t aware there rules governing acceptable time slots, but assume that 07:37 on a Monday morning is an acceptable time and you had nothing better to do.

Is 08:47?an ok time? I had nothing better to do.

or has it?
From today’s RNS:

“ In addition to the Remaining SEME Charges, the Moroccan tax claims against Sound Energy Morocco SARL AU ("SEMS") related to the Tendrara Lakbir Exploration Permits and the transfer of Operatorship from SEMS to SEME (the "SEMS Claims") remain in due process. Under the SEMS Claims the Moroccan Tax Administration purports a so-called disposal for nil consideration of intangible assets by SEMS to SEME.”

I ‘heard’good things about JMA, their batteries and eLNO technology and look what happened to them. Too slow out of the starting blocks.
They’ve been playing with fuel cells for decades.
Need to get a product to market or end up repeating the batteries catastrophe.

I listened in live and he said “shareholders”.
Look at Grahams body language, didn’t even flinch.
Reckon he would’ve blown a gasket if he’d said SHELL.

Could the dinner ladies please come to the playground.

A lot of hopefully and hopeful's.No fingers crossed though.Still believe a positive outlook, fingers crossed.

Mr Condons promised upcoming strategy investors address should be interesting.
Month two and already a lion is circling.
No wonder Mr MacLeod, allegedly “retired”.
Plan C.

Oops.
Wrong board.
Apologies.