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Mr confetti shares at it again. Still hopeful on sound after he ran away.
Are you sure, only 17 trades and under 400k shares.
With all the salary cutting and reductions in staffing levels, Graham is in this share to turn it around, make a name for himself and future financial rewards.
PS, you have to ask the question, who would invest in Morocco in the future if that's how the government conducts business with foreign companies?? Also OGIF have a lot to lose but could they be the sacrificial lamb got Onym to get 100% control. The mind boggles but we should know either way by April how the chips fall. JP was a fool not to get the Horst into production whilst we was conducting the seismic and geo mapping of the area.
If sound goes bust then ogif will lose their percentage of the license for good, you would of thought they would be doing a lot more to get this license producing cash flow.
Facts, $34 million in sales with LNG overheads at $13 million for 5 years then we might own the kit afterwards so zero charge. Tax bill is being robustly contested, could be full amount could be zero, could be somewhere in between. Bond issue is being renegotiated and news hopefully soon.
That is correct but some calculations I have put together will give investors an idea what 80k tons of LNG looks like in real terms. Hopefully come end if March this phase 1 will be signed off for production 2022.
Just to give people an Idea of the logistics, a 18 wheeler LNG trailer can carry 9300 US gallons with a density of 0.5 is approx 17.5 tons each so to carry 80k tons per anum it's about 88 trucks a week.
I ran through some cslcs last night, Mohamed said we are looking at 80,0000 tons of LNG per anum for phase 1, that equates to 3.9 bcf at $9 scuff so $35 million cash flow, if someone could verify my calculations.
Any details pertaining to the bond and tax issue will have to be RNS'd. Hopefully video this week to give us guidance and assurance.
https://twitter.com/soundenergyplc/status/1353988030424608768?s=24
You would of thought ogif would step up their so far lack luster contributions, they are after all the largest share holder, maybe a reserve based loan or a maybe a reverse takeover of sound at an agreed price.
The company cash burn has been dramatically reduced with the removal of JP, JJ and most of the exploration team. This is not guaranteed but I'm confident we are moving in the right direction to first gas but we could get taken out for peanuts if we can't raise further funds. Hopefully the Q and A video next week will shine more light as the last one was a non event in my eyes.
But most of those shares were awarded as part of his renumeration package which included a million quid a year salary. I'm all for rewards I'd the bod deliveres results to the share holders. Let's see what the next Q and A video brings.
This share touched 4.4p nott so long back of phase 1 possible micro LNG production. Gas is there, 350bcf extractable volume. That's several billion even at $7 a scuff and there's more to go at, te2, SBK. The old management gambled on a big find and lost. Small steps to production GLA
The allegations of fraudulent behaviour need exposing. If they are true then it's JP who needs to be worried.
I believe there are down hole pressure gauges at both te7 and 10 if that's what you mean by monitoring.
A broken clock is right twice a day. GLA
Maybe interest rates are going negative so 2% is a good deal moving forwards to get the business cash generating. Marco is a slimeball but he knows a good deal to get his money back and profits on his shares.
Under the planned project, Morocco intends to set up 2400 MW capacity in 2 x 1.2 GW of gas fired combined-cycle gas turbine power plants (CCGT). The project is expected to be ordered as a single BOOT contract.26 Aug 2020