Member Info for Ediacaran

Drjenner there were special dividends that were paid & shares in Gran Tierra were given as part of the deal so when you take those into account shareholders did make money.

I don't think it's fair to blame Majid for any of this mess so let's see what he can do but I won't be buying any shares until he does.

I was only here for Tendrara but with a market cap of £4m & soon to be cash of £8m I'm going to wait to see how it plays out. I can see the potential in Solar but after all that's gone on I don't trust them to deliver.

If Tayra is enough to satisfy Aim 15 rule as Majid suggested in the Q&A then great but I'm not sure it will. The glaringly obvious RTO for me is with Getech.

I have no interest in keeping Sidi, it's clear no one else wanted to farm in so if they can get off the hook for the $1.5m then that is a bonus but I am anticipating it will have to be paid.

They could have done a placing at a very heavy discount to raise a few million £ & the share price would have probably still be higher than it is now. THEN once first gas is flowing negotiate a full sale. Complete S show. Close the doors & distribute the remaining funds back to shareholders.

It probably is a good time to buy for a trade & I’m sure new people will be taking advantage. Market cap now well below what will be cash in the bank. Many holders selling whatever the price out of anger and frustration. I don’t blame them at all. Bottom drawer for me in the hope the company winds up and cash is returned to shareholders.

The problem is the debt interest payment is £2m a year. Revenue from Phase 1 would barely cover that let alone wages of 8 people as well as the additional costs of Phase 2 they simply can't afford.

If Mana had drilled our 2 free carried exploration drills & had success the share price would have risen allowing Sound more access to capital. They didn't. I'm not angry at Mana, they've played a blinder. It seems Graham wasn't smart enough to see it coming.

After how this has played out they should have sit and answered every question no matter how long it took.

Where do you think that $11m cash will end up going..

That’s how I feel Spencer. I can stomach when an exploration well doesn’t hit but how this has played out is beyond unsavoury.

Everybody happy and paid except the shareholders.

Adam open your eyes.

Silence speaks louder than words.

You're right that the comms are poor. Final results are due so hopefully a meaningful update attached. If there is another delay past Q3 the most likely thing we will see is another share placing at heavy discount. Personally I would rather a small percentage divestment but unless that is in the works now it will be took late come Q3.

At least no one has tried to falsely misinterpreted it this time.

Grok reported similar & predicts a 40-60% chance of further delays.

When running the numbers along side Zenith's solar the numbers look very attractive. However Sound is probably 12-18 months behind Zenith right now & that's the biggest problem right now, getting to that point. Going back to my previous post I would divest a small percentage of Tendrara to pay for it. Zenith has 85% debt financing so if Sound can get the same kind of deal the costs wouldn't be too bad.

To bridge the gap to first revenue. The possibility of delays should have been taken into consideration by the board & bonuses not handed out until first gas sales IMO. Because of the latest delay I believe they've panicked & had to rush into getting additional funding with terrible terms. I've said before they are bad so no arguments from me on that one. I just don't agree that Sound is going bust. We are now at the point where they are going to have to divest the asset. With incoming revenue from Phase 1 could for example we see a 5% divestment for around £5m dropping Sound's share from 20% to 15%.

I'm not somebody you need to convert but you can't just present your opinion as an absolute fact then console me that it's bad news 🤣 You've misinterpreted what I said. They don't need to contribute that's the point I was making, they just have to wait & survive while Mana get on with it.

Directors can't keep paying themselves if the company goes bust so I'd say it's in their interests to keep it going. You're right about doing nothing but it's not a bad thing, doing nothing & receiving tens of millions a year (When Phase 2 is running) is a good gig to me. Sound now have the time & bandwidth to purse other ventures i.e. Solar.

Mana didn't buy 'Sound Energy PLC' they bought a percent of the licence so Sound's debt doesn't come into play. Transfer of ownership was done by selling a subsidiary company 'Sound Energy Morocco East'.

Only just last night I was thinking it's nearly been 2 years since the announcement of the free drill carry which is frustrating. I don't recall the source but it was recently confirmed Mana want to get the LNG plant done first. John Argent also said awhile ago in a Q&A they want to make it part of a 5 drill program to save on costs. So no doubt the LNG plant delays have affected the drilling timeline but I was hoping they would have been drilled parallel to Phase 1. I think Graham was pushing for this to so I don't know if that was the original plan or Mana changed for whatever reason but as operator they can now do what they like.

"No more top ups for me now just a realisation that I have wasted 150,000 over 8 years Just waiting for the Moroccan take over now for a penny a share"

https://www.youtube.com/watch?v=lxjmW_OoxO4