Member Info for Ediacaran

Badile was a big one. Alas it wasn’t to be. I don’t believe there’s been a wildcat drill in Italy since. Nightmare bureaucracy.

Approaching maximum fear stage of the cycle. I admit I nearly bought some more based off NAV value but held back because it may get worse. It's unacceptable though & action needs to be taken by the board.

It's not good if shareholding is diluted & the company is burdened by high interest debt. Can you link me the that RNS?

I've been debating with a friend over the last few days on whether it would have been less damaging to sell 7.5% of the Anoual exploration permit & retain 20% in line with Tendrara. Assuming Mana would do a deal the funds would have seen us through to first revenue, if no bonuses were given of course. Ahem.

I feel we are due an investor call. After 5 months it would be nice for Majid to introduce himself, share his vision & attempt to build some kind of rapport with shareholders. There's going to be some tough questions to answer but management need to front up. Sentiment is worse than when JP left.

The bench mark has now been set for the euro bond holders when they negotiate. I dread to think.

I'm still gobsmacked how bad both the loan & placing terms are. Not a penny should be spent towards Solar until revenue is coming in!

Best case the company doesn't burn through the £500k from the placing, first gas is Q3 & the loan isn't drawn down at all. (£100k fee still).

Worst case they draw the full amount & have to pay €1.3m + €620k interest (83.7% APR). If they default the interest figure goes to €1.24m & the lender is given 43 million shares (assuming 5p) 16% share dilution.

Bonuses!?

Https://x.com/soundenergyplc/status/2034896157395103774

Delighted!?

Not going to waste my time dissecting that. Most of us knew it was coming but I don't ever recall seeing a bigger discount. Shocking. Straight back down to 5p/.5p.

“ Tendrara O&M workforce training to qualify for electrical interventions/supervision alongside confined space safety & ensure O&M personnel competency to safely perform/supervise these activities.”

Training usually conducted towards the end.

Adam it's called liquidity pinging.

Figures are in the latest Zeus report.

Solar doesn't get me excited compared to drilling in the ground but it could add significant value even up to FID stage with minimal outlay. I don't want to bat around figures because it's not my area of expertise but I'd be interest to read what value other people conclude.

£3m for 2026 & £4.7m for 2027

We don't know if the supply chain delays were from original date of late 2025 or new ones which is why I asked Adam who was at the GM & source of this delay to clarify. If there is a new delay how long is it going to be realistically? You've misunderstood my point about a year long delay. Sound now has the means to do a placing after the consolidation so they aren't going bust & a delay isn't the end of the world. I believe a placing is coming regardless whether there is a delay or not but suggesting there will be no gas sales or Sound will go bust because of any delays is just fear mongering. That's my argument.

Just to be clear you're of the view there won't be any gas sales at all & it's the end. Sound goes bust?

They've stated they might need a bridging loan & the whole purpose of the consolidation was to allow them to access more capital so to try & suggest Sound won't ever get gas sales is for the birds. There could be another year delay but it would still happen.

Adam you were at the GM so can you elaborate more? The original date was Q4 2025 so are you sure they weren't explaining the delays from then or were they saying there are new delays that will push beyond Q2? The plant is in the commissioning phase so I'm of the view it's still Q1 into Q2.

I gave you dates & sources which show there’s no change as of 3 weeks ago. Now you don’t think there will be any sales at all? Ok buddy that’s not a debate I’m going to entertain. Have a good weekend.

Says the guy who has had to be presented with the facts. Even if there is a delay how long do you realistically think it’s going to be. And as for risk it’s oil & gas yes of course it’s high risk. Never invest more than you can afford to lose.