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All good here dangler, hope you are keeping well, still in here awaiting for dreams in the desert to appear.
https://twitter.com/GVLSoncer/status/1504375531206332417?s=08
The pipeline connects to Spain with a spur off to Portugal, there's not much of a gas pipeline network which connects to France and the test of Europe. But with Algeria not being able to export as much now they aren't using the Maghreb pipeline there is scope to export if Morocco's needs are fulfilled.
I emailed Sarah this morning, the questions are still being processed and answers will be out soon.
Will Holland18 Feb 2022 04:01
Does anybody remember this bumbling buffoon?
He was brought into Echo by James Parsons and he left.. - Well looks like he is a director of one of the companies that provided the 12M load to ANGS. The company is called 'Aleph Saltfleetby'. Lets not forget, whilst I don't recall him being involved in SOU he is a mate of James Parsons, who will still be big buddies with Marco Fumaigalli, one of the corner stone investors of SOU...They are all in the same club together and I would not bet agains GL being pushed into this offer because of a deal being brokered by Will Holland the 'the boys club'......STINKS THE LOT IOF IT !!...............Rinse & Repeat at our expense !
We have to drill the annoual license this year Joe, sound team have had years to examine the data from the last drill, fingers crossed they go for an existing find. Gas prices are going in 1 direction and we will have contacted prices.
Phase 2 discussion still proceeding.
Might not be in a few weeks time kiddo :-)
Wed, 16th Feb 2022 07:00
RNS Number : 7891B
Sound Energy PLC
16 February 2022
16 February 2022
Sound Energy plc
("Sound Energy", the "Company" and together with its subsidiaries the "Group")
Phase 1 Development - Issue of Notice to Proceed to Italfluid
Sound Energy, the energy transition company, is delighted to announce the issue to Italfluid Geoenergy S.r.l. (the 'Contractor") of "Notice to Proceed" in respect of the project contract for the Tendrara Concession mLNG Facilities Onshore, Kingdom of Morocco, between the Group and the Contractor (the "Project Contract").
The Notice to Proceed has been issued to the Contractor by Sound Energy's wholly owned subsidiary, Sound Energy Morocco East Limited ("SEMEL") and, following an initial payment of US$5 million by SEMEL (on behalf of the Tendrara Concession JV) to the Contractor (the "Initial Payment"), will oblige the Contractor to execute the works set out in accordance with the Project Contract for the provision of a gas processing and liquification facility in relation to the Phase 1 development of the Tendrara Concession.
Following the issue of the Notice to Proceed, the Company has also notified Afriquia Gaz S.A. ("Afriquia") that pursuant to the Loan Note Subscription Agreement ("LNSA") entered into between the Company and Afriquia on 29 December 2021, all necessary undertakings and agreements have been completed and that the Project Contract is now in full force and effect. As a result, the LNSA is now in full force and effect and the Group intends to immediately draw down a proportion of the funds available under the LNSA to meet the Initial Payment.
Further announcements will be made, as appropriate, in due course.
Graham Lyon, Sound Energy's Executive Chairman, commented:
"We are delighted to have issued the Notice to Proceed to Italfluid and to have satisfied all conditions to give effectiveness to both the Project Contract and LNSA, which means that following receipt of the Initial Payment by Italfluid, the execution phase of our fully funded Phase 1 micro LNG development of the Tendrara Concession will be underway. This is a key milestone for the Company and we look forward to working with our strategic partners, Italfluid and Afriquia Gaz, together with our joint venture partner, ONHYM, in developing the project and delivering gas to the Moroccan market in around 2 years."
I'm not disagreeing with you Joe, don't forget we had a data room at one point and that fancy legal firm, can't remember the name, look where that got us!
The same as the other 4?????
The board of directors of Angus (the "Angus Board") unequivocally rejected the indicative proposals. hopefully this statement from Angus is the end of it, I'm baffled as well, probably more to do with Garry Dempster the CFO but who knows??
As a sound share holder there is a lot of bad press out there, tbh sound should be concentrating on its Moroccan assets, but we are fully funded to phase I LNG gas production and currently half way through discussions on phase 2 250 million dollar pipeline funding so not as bad as people are making out. Let's see where this goes GLA.
You are correct JF, 57 day test period with changes in choke sizes, don't also forget the down hole pressure gauges and the recharge rate afterwards which confirmed the asset as commercial and the decrease in amount of further production drills.
We have to drill again within the year as part of our license agreement, news soon on a exploration program and farmout, 20p is a real possibility
We own 75% of $3 billion dollars worth of gas, do the math :-)
25 months away, we should be up and running in about 18.
Only 6 working days left so we must be close to news, officially becoming a producer.
Great find Ducati, on the ball as usual, slowly coming together, not long till the end of the month and start of phase I operations.