Member Info for ericnat17

Not bad…but not great either.

I wonder what is holding Calvalley back.

My question re schlumberger was answered. As suspected the 9% net profit payments will all come from sounds 35% share of the concession. That’s going to be expensive. But GL says it in the numbers….so all good

Hi PS

You bring up some accurate points about the SP angel target. If investors also look at detail at the note, they will also notice that they have built in success of the next well.

One question I want answering is about the lack of activity on the licence commitments. Pretty sure that some Morocco government officials will remember GL comments regarding doing business in Morocco during the Tax dispute. Let’s hope he has answers tomorrow.

Hi PS

JP he raised funds from serious investors at 80p and yes we had assurances of TCF value. This was a new flavour of AIM marketing that had not really been used before. So cut yourself some slack…..thousands of investors were caught up in the monumental rise.

I think a lot of people with bought into the JP era.

Don’t forget at one point this was just short of a billion pound market cap. That does not happen unless there is serious money knocking around.

Hi PS

No that was a real post of yours. Have a look back.

PS200306 2019 April

I'm so far underwater with this share I can see black smokers and tubeworms, yet *still* can't understand the negativity of the bellyachers on here. Aiming to get one last lot sub-20p this week. Expecting initial stimulation results shortly after that, with an excellent chance of them being positive. Holding till the end.

TW

SCAP now pushing on the bid. So might be a more stable close. Or even a push up

Sell seems to have dried up…..an if by magic L2 is starting to switch positive.

L 2 SCAP now chased off the offer. No shares left to dump?

Level 2 turning slowly. Some biggish buy order just below the bid

Agree. Especially one particular MM. moving all over the shop.

Hi KTF

It was a sell of £1250. Then a load of AT trades. Taking out the MM on the bid at 0.6p.

It moved 4 of the MM down. They have no appetite for shares, and yes it is all about lack of communication from the company. GL needs to steady the ship with a RNS update about negotiations. Or we will continue to lose SH value.

I have emailed him directly last week……no response at all.

I am tempted to call him on his mobile….

Hi Blink

The issue sound has in lack of cash to fund almost every aspect of their existence. So they go to the market at a massive disadvantage. They create funding deals or strategic partnerships with a high costs. They are hamstrung by the 25million or so bond. And now they have another debt facility.

If the concession and acreage was in the hands of a major then Morocco could be fast tracked. They profitably of the concession work out far better if the capital is coming from cash in the bank, rather than bank loans at 8% plus.

If sound keep hold of this then I would imagine that at best case scenario you will not see a divided for at least 6 years and when you get it it will be small and only run for a few years. The window for a buyout is closing.

KTF

I did say IMHO. I think there is some nuance here. If they were still negotiating via a formal extension, then they would need to release an RNS statement to that effect. I guess you are right that if they had completely closed the door with ONEE then they would need to RNS that.

So where are we then, in that middle ground. As I said my guess is GL is using this grace period to get something else together. I am hoping for a buyout. If not then we are in for a very long hall as mentioned by PS.

IMHO

It is becoming obvious that the funding deal is not happening in its current form. It was reliant on ONEE agreeing to change the GSA for phase 2. The original form of the deal was pretty generous to Sound, so I guess with the market getting flooded with Cheap LNG and Morocco building new LNG terminals it was an renegotiation too far.

All we need is the news to confirm and another plan

The last time had Covid as the reason for inactivity on the permits. I wonder what reason we can give now.

If Morocco are keen to get their country Gas strategic process going, they need activity on these permits.

Yes I remember that. Do you remember the Friday before that we had at least 100 automatic “1” trades. Terrible when you think about it.

In all of the past extensions Sound has always released an RNS to say that the negotiations have been extended… but not on this occasion…there is a difference this time.

Yes KTF you definitely could read it that way, no question.

But you also read it that the period for funding has passed its deadline ceased.

From RNS dated 22 December 2022

Permit current status is a bit precarious. This is where all our extra value is. 2 exploration license periods have lapsed and the last one will lapse in October. This is what I want an update on.

· Grand Tendrara exploration permit - need to drill before October..that’s very unlikely. Therefore will Lapse

Morocco's L'Office National des Hydrocarbures et des Mines ("ONHYM") has approved the Company's application to enter the optional First Complimentary Period under the Grand Tendrara Exploration Permits to 1 October 2024

· Anoual exploration permit Lapsed

o ONHYM has approved the Company's application for a 12-month extension to 8 January 2024

Sidi Moktar license lapsed

o ONHYM has agreed a 12-month extension to the Sidi Moktar Exploration Permits to 9 October 2023