Member Info for Ducati2

https://www.soundenergyplc.com/media/bphbexwi/sou-2022-08-17-morocco-update.pdf

Sound Energy is a transition energy company with strong ESG credentials and a clear route to first gas production and revenues in early 2024 through its low-cost onshore gas development in Morocco.
We have updated our financial forecasts and risked NAV to reflect recent news flow. We reiterate our BUY rating with an updated 7.3p/share price target.

It’s only a matter of time?

https://northafricapost.com/59718-europe-rushes-to-africa-for-gas-alternatives-as-dependence-on-russian-gas-dims.html

From Marcy........Well someone had to post it!

This is most interesting from Sound where I see signs of a plan coming together and we like the sound of that. This plan appears to be vindicated by the fact that interest is becoming substantial with other companies recognising not only the gas development ability to serve both Moroccan domestic and European markets but also large exploration portfolio which includes plenty of running room.

The cunning nature of the plan has been in getting the planned infrastructure in place in place first, thus being ready for a potentially prolonged drilling campaign which includes two appraisal wells and one pure wildcat at the very least and will surely attract companies with deeper pockets in this highly attractive market.

The Sound share price has been predicated very much on the rolling announcements for the gas development, indeed today there is an update on the financing of the Phase 2 Senior debt from the Attijariwafa bank as well as to ‘mature industry and alternative financing solutions for the remaining Phase 2 development costs of approximately US$60 million net to Sound’s 75% working interest in the Tendrara Production Concession’.

Right now it would seem that the company is starting the process of moving to the next stage of its development and the share price just has not yet reflected this. Indeed I would suggest that it should now start to move upwards, the first point must be a doubling to the 3p level but if this report has any legs at all I would think that 5p or a market cap of £100m would not be unattainable.

Yes Joe, but a lot has changed,Gas prices,Cash rich oil and gas companies, The World outlook to secure Gas.

They need our Gas..........

https://www.youtube.com/watch?v=pGMe5QnGUeM

https://www.soundenergyplc.com/media/m2cfi2aq/se-august22-websiteexplorationupdate.pdf

Graham Lyon, Sound Energy's Executive Chairman, commented:



"We are making good progress on the senior debt facility for the Tendrara project, which is planned to fund the majority of the Phase 2 development costs.



In parallel, we have now commenced a farm-out process to secure partner participation in both the development of the Tendrara Production Concession and exploration and appraisal in the surrounding exploration permits.



Our re-evaluation of the potential of the Greater Tendrara and Anoual exploration permits has high-graded three drilling targets, two of which have previously encountered gas shows. We believe mechanical stimulation is the key to unlocking the potential of the TAGI gas reservoir, as we have done at the TE-5 Horst discovery. Importantly, future discoveries in this area have the potential to be commercialised through the planned infrastructure that will be built at the TE-5 Horst development.



We look forward to updating shareholders on progress as we move forward."

fab if we break 200p this afternoon, gone now but can it hold...........

Onwards and upwards 14% +

https://www.africanews.com/amp/2022/07/06/morocco-reopens-power-plants/

Thank you for your feedback Eric,Sound not too worried about the tax situation..... excellent.

https://www.moroccoworldnews.com/2022/06/349892/sound-energy-attijariwafa-bank-to-finance-tendrara-gas-project

23-Jun-22 16:38:38 1.454 12,500,000 Unknown* 1.50 1.55 181.75k O

23-Jun-22 16:04:45 1.52 2,000,000 Unknown* 1.50 1.55 30.40k O

23-Jun-22 16:37:22 1.45 6,800,000 Unknown* 1.50 1.55 98.60k O

23-Jun-22 16:36:21 1.45 3,200,000 Unknown* 1.50 1.55 46.40k O

Expecting more.

Well aware of the SP Angels forecast and your previous posts with regard to the SP, good information and thank you.

So without any changes to Sound Energy forecast as just posted a 4 bagger, what happens if we get a deal to drill the 3 x well programme !

Sometimes just sometimes things change and the SP Angels forecast will require amending either way.

What made you invest Fernan10!

Keep dreaming.

Regards.

Phase 1 Micro LNG Development - Sound fully funded for share of development costs
Deployment of field gas treatment, processing, liquefaction and storage facilities to deliver mobile LNG to buyer at site. The LNG buyer will distribute and sell on to its growing Moroccan industrial consumers within the domestic gas market.

Supplies of LNG are to be an annual contractual quantity of 100 million standard cubic metres of gas (approximately 4 billion standard cubic feet of gas per year) over a ten-year period in a liquid form.

Binding gas sales agreement and associated funding in place with Afriquia Gaz*. A ten-year commitment from first gas to sell annual contractual quantity of 100 million standard cubic metres per annum with take or pay agreement priced at $6–$8.346 per mmBTU ex plant.

Development utilises the existing well stock of TE-6 and TE-7, with additionally the drilling of one new well as required to maintain the ten-year period of production plateau.

Gas as a transition fuel flowing to the GME pipeline

Phase 2 Tendrara TE-5 Development
20’’ inch, 120km Tendrara Gas Export Pipeline ("TGEP"):

Tie-in to existing GME pipeline (Station M04): FEED completed by Metragaz (EMPL operator)
Pipeline EIA permit approved
70 mmscf/d raw gas CPF processing capacity: FEED completed by Enagás Consortium
CPF EIA permit approved
Gas Sales Agreement ("GSA") with ONEE (Office National de l'Electricite et de l'Eau potable) signed November 2021 for domestic power plants for gas-to-power generation (transit via GME line), minimum volume of 0.3 bcm/year
Six horizontal wells planned for First Gas (Phase 2)

With the oil and gas Majors now Cash rich, anyone for 25% of a future development supplying Morocco and potential Europe. Dreams............

That my buy.........Nope, I wish.

Who once said the Banks are fighting to fund the Project!
23-Jun-22 08:00:18 1.699 5,765,000 Unknown* 1.70 1.75 97.95k O

22-Jun-22 16:25:17 1.70 2,500,000 Unknown* 1.60 1.70 42.50k O

22-Jun-22 16:25:04 1.65 2,500,000 Unknown* 1.60 1.70 41.25k O

22-Jun-22 16:23:28 1.625 2,500,000 Unknown* 1.60 1.70 40.63k O

https://northafricapost.com/58522-moroccos-vision-on-its-partnership-with-the-eu-africa-its-strategies-for-the-future-highlighted-at-opening-of-edd.html

Now all of a sudden, Europe is willing to finance new oil and gas projects?

Europe has been forced to reassess its energy transition agenda owing to the Russia-Ukraine war and the measures that have been forced on it to prevent another World War. Global banks, which had already started to reduce their exposure to fossil fuel transactions owing to an aggressive green energy drive by the West, have begun to revise their strategies.

https://businessday.ng/columnist/article/europe-goes-searching-for-gas-in-africa/

Hopefully a little bit of good fortune comes our way.

They need our gas.........

https://www.al-monitor.com/originals/2022/06/calls-rise-reactivate-moroccos-only-refinery-oil-prices-soar

....... trade.

09-Jun-22 17:07:56 1.85 22,885,000 Unknown* 1.85 1.90 423.37k O