Member Info for ericnat17

£570 million and that is just the Horst. A very small part of one of the license areas.

Even if it cost sound 200 million to get it out (which it won’t) that still leaves 370 million.

The market cap is below 20 million with 25 million of debt.

When did you sell out PS?

Moroccan gas will soon be sold on European markets after British company "Sound Energy" has obtained approval from the Ministry of Energy, Mines and the Environment to assess the environmental impact of the gas pipeline, which will '' extend over a distance of 120 km between the wells of the Tendrara natural gas field and the Maghreb-Europe gas pipeline.

According to Sound Energy, the pipeline should cross very uneven terrain in the province of Figuig through Matarka and the municipality of Marija near Jerada, which would allow Moroccan gas to be sold on European markets.....
28th of the current month if the ministry approves the project.

Talks are also underway between Sound Energy and the Home Office to secure a long-term lease for a 50-meter-wide corridor along the 120 km pipeline, the company said. that negotiations on the memorandum of understanding to frame the sale of gas from the Tendrara concession to the National Office of Electricity and Drinking Water will continue until March 31.

According to Hespress, Moroccan investments in the exploration of natural gas have reached 20 billion dirhams in the last 10 years, including 1.8 billion dirhams in the year alone of 2018.

Through the agreement signed with the British company, the Moroccan government aims to reduce its imported gas bill by 30% for the production of electricity.

28% spread, no new sell orders coming on.
1 million buy order. Hopefully the start of something positive

We have discovered billions of dollars worth of gas just at the TE5 horst which covered a very low percentage of eastern Morocco license. We know there is a discovery at SBK which is now believed to be significant after the latest seismic, this is also eastern Morocco. There is an Oil play in annual. This is also eastern Morocco license area.

Now if we start to look at sidi mortar, we know we have a shallow discovery there, this is next to a field that has been producing for many years. We also expect that there are pre salt fields on the sidi mortar license.

With the 10 years tax holiday, 25 year production concession and the renewed permits and licenses.

We must be worth north of 150million sterling.

I am still convinced that the company will be sold lock, stock and barrel.

The area is too much for us now, maybe it always was.

GL is making sure we can become a significant revenue generation company.

That is only going to make us more attractive and also more expensive.

L2

18 vs 14

L2 nice and strong with a few buys.

Good luck all investors for a strong 2021

Morbid, but not......cheap

Hi PS
We know there is a discovery at SBK. And following the Sesimic it looks a lot bigger than first expected.

I agree the real prize is going to be the Pipeline. And I will say it again, Sound will not be the operator for very long. We will either be sold or farm out the majority of our share to get a free carry to first gas from the pipeline. OGIF will want one of these options and they are calling the shots. Lets not forget they have not sold any shares, and they have been able to for a very long time. So has Marco.

Why do you think they have been holding through all of this, they are fully aware we are below true value.

L2

18 vs 13

Looking like another positive day on L2

AS soon as we get anywhere FID then expect a rerate

Get your questions in for the sound team.

Q and A deadline 15 Jan.

Hi PS

Either looking pessimistically or Optimistically. Sound will become a revenue generating company within 12-18th months (i know). I make out that we will also have significant profit within the first couple of years.

With a 25 year production license and 10 year tax holiday, the potential of the 66mmscf Pipeline and all of the exploration potential, i think we will be sold before we produce any gas in the Phase 1 development.

I think if we take it somewhere between my optimistic view and PS pessimistic view it would be fair to value the company at over 6p based on a conservative PE ratio.

But this is just based on the 10 years LNG Production that brings in revenue of over $300 million over the 10 years.

if we look at the 66mmscf via the pipeline and the exploration potential (SBK and others) and include the discovery and potential at Sidi Moktar then we can start taking about being seriously north of that 6p.

But it is the start of a road back to share holder belief. GL is a different character than JP. It looks like it will be a slow and steady under promise and deliver.

We are in signifactly better place than we where a few weeks ago.

Just done a very quick calculation and after Sound has paid the Lease cost. This is worth deal on its own is worth 1.4p per share every year

If sound pay off the debt, bond and tax over the first 5 years this goes down to app .8p per share.

and then following 5 years it is over 1.4p per share per year.

And this is just brief calculation based on phase 1 with Sound acting as a shell company. If phase 2 gets going then we are looking at many multiples of this.

If we add to this a free carry with Sidi Moktar, you can see why we may become a target for a buyout.

The ship is now steadied and very much aligned to the Moroccan government long term energy plans

Are you expecting another RNS today?

Soorbirs

There maybe an issue with people just not wanting to believe that 1st Phase development now looks like it is nailed on. Which translate to that we are now also funded for phase 2, we will be able to pay the debts and move forward.

it has been a tough year for GL but he is delivering how and when he said he would.

I think this will move around a bit but the direction is now positive

L2

nice and steady rise by the Majority of MM. and very positive buy order versus sell orders.

NIce to see anyone who has spread bet this to go lower is going to get stung over the net few days trading Ho Ho Ho

I am still expecting news on Sidi Moktar soon.

I would imagine with the 2 year extension then we will have a detailed RNS soon.

I believe that we will be sold off, with each completed stage of the Eastern morocco ticked off. it will be getting more and more expensive.

Joe

Read back through the RNSs. We are getting funding from the GAS buyer.