Member Info for Del77

250 your post at 16.14 The remaining sound shares that were not cancelled would continue to trade on aim until the final “lE “was made and any cash remaining in sound after clearing all soundcenergies committments and liabilities, would be returned to those shareholders thereby winding up sound energy. D.

Jack See my post at 13.09 earlier today. A return of capital would work to avoid being “locked in “ after a cash offer is made accompanied by further contingent payments based on future success against given criteria being met. D.

Clearly a dividend is not taxable if the shares paying the dividend are held in a ISA rapper . I was just thinking if sound agreed a return of capital , say for acquiring 9 out of 10 sound shares in issue , at a set price this would not be classified as a dividend payment and for those holding shares outside isa or sipp rappers the return of capital as part of a capital restructuring, as part of a phased LE ,would be subject for capital gains tax in the normal manner. It might help spread the le over 2 tax years utilising 2 years capital gains allowances. I am sure Sounding Off can confirm or not as the case may be Many thanks D

Thats why us PIs are lucky to benefit from outstanding research and knowledge of recently Thoth2 and some other excellent posters over the previous c 8-10 years. Patience is still required but news will certainly be announced soon and you feel there is now light at the end of long tunnel. A mile stone payment is certainly due soon andhopefully tyk2 update licence soon afterwards.

In the big picture in 4 months time Sound will have either made an agreement to sell on completion of the seismic programme. If the BOD does not receive a satisfactory bid Te9 will be drilled and assuming it is a success and agreement to sell if the BOD receives a satisfactory bid, otherwise Te10 is immediately drilled. It is a matter of being patient taking on board that there are always unplanned delays when the BOD have so many “partners” to keep on side leading to a successful LE.

With regard to institional investors or potential buyers, no one will ever know if companies like shell, Repsol, etc already own shares in Sound as they will no doubt be held by custodian banks , where by the investors name will not appear on the share register of sound. Should be an interesting next 4 months or so.

In RNS on 23 jan 2018

My view is until a deal is signed , there is no agreement and therefore no insider information. Perhaps the Chairman believes in the prospects of Sareum, as he should, and his wife bought some shares and told her husband afterwards:). that is not again insider infornation, just poor admin as the purchase should have been announced by RNS at 7.00 am . This is not a significant investment. Afterall Tim indicated he was close to a deal about 8 years ago.... Hopefully a deal or deals are being discussed and close to possibly signatures in the next few weeks ... not another 8 years!

Following 2 cabinet resignations today and likely challenges to Mays leadership over the next 6 months ,the uk pound will continue to fall, which is Good news for the receipt of Sareums next USD denominated milestone payment and any licencing deals negotiated in USD by Sareum .

After listening to FSC my take away is that Sound could be taken out af any time. JP states selling is not a problem it is all about price. Then he mentions the underlying asset value of sound currently more than reflects the current SP. One day the Russians/Chinese or multi nationals from the West will press the buy button and LE will be all over. Any one not invested will be out . Sound may also be suspended. JP is i am sure is in contact with Majors on a very regular basis. One day , at any time an offer will becreceived and will be recommended by theBOD. What we do not know is how close informal offers to JP are to meeting his acceptance criteria and when it will be , tomorrow , next month next Easter we do not know and as PIs we will be the last to know.

I guess it is primarily to keep PIs informed and raise the profile of Sound for what could be a very busy five or six months. What else is going on in the back ground we as PIs will never know.

What has Summits fall from grace to do with Sareum some may ask. Summits dmd programme failed at clinical trail stage 2, share price falls 80% There are other examples eg IMM earlier this year Tim is in his c mid fifties. Can he afford from a risk perspective to be in the same position when a large part of his family wealth is tied up with Sareum. For all the reasons Thoth 2 mentions as well, Tim needs to sign either a significant licence deal or agree a t/o where he and John may continue to work . He needs to derisk his investment that will only come from a deal IMO.

We also should consider from a prospective purchases perspective they may prefer to buy on seismic when completed from their own risk management policy. A huge multi national will be behind LE. Their preference may be buy cheaper and drill over many years . Some drills will be a sucess some will not. I do not know but say each drill costs around usd 30m and they pay £5 a share compared with say £30 + a share if we could prove all currents estimates on a mid to high outcome, which could take many years (at current rates of progress) ie a purchase price of either £5b or £30b . The difference of £25b , buys you many drilling opportunities:) These are only ballpark figures but illustrates the point i am making . We have to remember Algeria had successfull drills and some dusters over the years. We should remember PJ set up echo , on the basis of his next venture following Sound. He would of thought we were close to LE, then and that was with out drilling. I think we may be very close to some exciting news.. with out drilling.

Probably a bed and isa in advance of news?

“Pressure not to derisk”= a significantly higher price on a succeesful drill

It seems to me with all the delays there is pressure not to drill from a potential buyer, or buyers. The seismic and the previous drilling prove/suggest their is large quantities of gas in Morrocco , as does the drilling by SDX If you are the BOD of an acquiring major O&G surely you would be looking to buy before further drilling , based on existing evidence. The acquirer would look to purchase now cheaper with the existing evidence. JPs / Rothchilds challenge is getting a decent price. With all the delays to TE9 all you can assume is that we are not a million miles away from a deal... otherwise why the hold up on TE9. If JP is not close surely we would be drilling. We are also waiting for the GSA to be signed, which again would need to be on place for a potential acquirer. We will hopefully find out soon.

There has been a revision to volumes which are 22k still higher than normal but share price is now 13.33 usd up .08 on the day D

Interesting after yesterdays rise 11% there has been no pull back at all yet volumes of shares traded today already exceed 52000 , the close on the nasdaq could well be significantly higher than 13.25USD a share by 9.00 pm uk time

Next 2/3 weeks..

Volumes picking up , MM playing games this could mean someone is in the know whether that be news , announcements... we will get to know within the next 2/3 ... D