Member Info for ericnat17

Ps you forgot the 11.5 % per year on the 13.5 million loan. This I think will be scrapped for a better deal for sound.

This percentage is what may be holding up the bond negotiations.

Hi Dave

4billion per annum at 8$ mmscf = 32million dollars x 47% is $15 million to Sound. The $22 million would be very good/nice. How did you get that figure?

Please do not expect news before the end of 31st. They look to be definitely running past that date.

Negotiations between the parties will continue following the expiry of exclusivity and further announcements will be made, as appropriate, in due course.

Could have been a lot worse of an RNS.

No news before the 31st. And then it will all come at once.

Fid, gsa, contract. My guess would be another couple of months. We will have also got the bond issue out of the way by then

MM moving up and taking out any sell orders. They know....

Kempsey that is exactly what has happened in my opinion.

L2 looking like a strong opening

We have seen the Moroccan media get hold of stories before anyone else when it comes to Tendrara. That is not a surprise it is their country afterall.

The Bloomberg terminal will have the same source no doubt. After years of waiting what another couple of days. We all know where this will go once phase 1 is signed.

Whatever the news is going to be BIG

I think we may get an intra day RNS. If only to say about the media coverage.

GL will want the GSA, services contract and FID to be completed.

Look s like the service contract is done, GSA will be next then FID.

Cash = gas

47.5 % of $2.5 billion worth of cash. And a massive potential upside. With. £20 million market cap.

Another gas filed in sidi moktar.

I think that we should have a market cap off £150 million, easy.

That’s puts us over 10pps

Maybe news tomorrow. My guess this is only part of it.

We will get FID and GSA as well. The SP is now primed. All of those 500k buys over the past few weeks are now making sense.

This will have a very positive effect on the bond holders meeting

That is now nailed on.

Argentina Commercial Update

New gas contracts for 2021-2022 significantly above 2020 annual pricing and current spot price

Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide a commercial update regarding the Company's gas sales from the producing Santa Cruz Sur assets, onshore Argentina.

The Company confirms that, following a successful auction process for industrial clients, it has secured two new gas sales contracts at significant premiums to both prevailing spot market rates and 2020 contracted rates (the "Contracts").

The Contracts have a term of 12 months, with gas sales beginning in May 2021, and provide for a 126% increase over annual industrial contract pricing previously achieved by the Company in May 2020 and a 39% premium above current local spot price.

The Contracts provide gross 6.5 MMscf/d of committed production, 4.6 MMscf/d net to Echo, at an average price of $2.64 per mmbtu, with the Company able to elect to sell additional volumes of up to 1.9 MMscf/d net to Echo under the Contracts. This optionality, at the election of the Santa Cruz Sur partners, provides flexibility to respond to market conditions including rising spot prices.

As a result of the Contracts, a minimum of approximately 70% of gross daily gas production from Santa Cruz Sur allocated to industrial customers will now be committed under secured contracts until April 2022.

So the company the created the report are a very serious outfit. They have nestle, Schweppes and other blue chips as clients. They carry out consultancy work for governments in the O and G sector.

Might be a bit of a catalyst for more coverage of sound. We know we will get the broker note as soon as the FID is done.

Two significant gas projects that are poised to take final investment decisions (FID) in Morocco this year could add 70mmcfd of natural gas to the country’s energy mix in the next five years, supporting its ambition of reducing reliance on coal and costly imports from Algeria, according to GlobalData, a leading data and analytics company.

https://www.globaldata.com/morocco-moves-closer-unlocking-domestic-gas-riches-funding-still-hangs-balance-says-globaldata/

My belief is we are being sold. Just depends who to. My guess is some type of Moroccan entity.

Worth having a look at PRD RND this morning. Looks like a similar plan to Sou LNG

Yes agree davey.

There has been no real change to the size of the asset since the last broker note that valued the Horst alone at over 10p a share I seem to remember.

If you add in the exploration upside and Sidi then the new note must still value is far north of where we currently are.