Member Info for ericnat17

KTF the PSD only covers the concession area. I think you need to read the RNS

The problem is SLB just gave up the interest in all of the acreage apart from the concession area.

That tells me they don’t think there is any value outside the Horst.

Anyway. I am disappointed that SLB have gone.

We are about to get to the gas after years and years of work and they walk.

Tax is not debt. It’s TAX

So is this to do with the Tax issue. SLB are getting out. And we will be stuck with more TAX demands.

Hmmmmm.

Still waiting for a response from the company.

You could read that as the answer is price sensitive. But they normally respond in some form.

I have emailed the company for information regarding the meeting and separately about FID and Tax. Awaiting a response. Will post once received.

Feels very much like we are getting the good cop (onhym), bad cop ( taxman) treatment.

If GL thought that ONHYM went in to the meeting not fully briefed by the tax authorities, then he is naive. Some body wants the license on the cheap. I would rather we did a big raise and got diluted to hell than give it back to the Moroccan government.

This is a lot stronger than I would have expected in an RNS. We need to keep emotions under control.

“ The tax framework of the hydrocarbon sector not being applied is a poor reflection on doing business in Morocco.”

Too low to sell any.

But with this news I would not be buying more.....just yet.

Well the bond holders are going to be a bit upset.

They have already lost 30% on their allocation. And the warrants at 2.75 look a little bit pricey.

I suppose the good is they are unlikely to sell them at a significant loss.

Getting Taxed twice for the same transaction, makes no sense to me.

But maybe it does to you?

SLG and OGIF will also have to pay.

ONHYM would never recover its reputation. Never getting upheld. Never mind that it simply does not make any sense.

So they are also trying to tax OGIF the national pension for Morocco. You could not make it up.

The meeting was held amongst all participants in order to encourage an informal dialogue of understanding, in order to resolve the issue of these matters smoothly and in good order.

This will all seem like a diversion once the gas starts flowing. If this tax demand is upheld the country’s Gas potential will be gone. No company will undertake any more exploration.

ONHYM will make the country $20 million in revenue it is first year of LNG. This will be thrown out at soon and get no where near arbitration.

Hopefully the meeting held yesterday (31 May 2021), with the assistance of our State-owned partner ONHYM, at the Ministry of Finance will help to satisfactorily conclude this matter."

And don’t forget the exceptional exploration potential.

Sound has the largest license area in all of Morocco. And this country is about to release its new strategy for a massive pivot toward gas as a transition fuel. IMHO.

The MM on the offer is not one of the regular players so will so be moving up, is my guess.

Well you got them before it ticked back up. Looks like another tick back up coming