Member Info for ericnat17

Positive on L2 for the first time in a long time more buy orders than sell orders

18 v 16

http://www.mapnews.ma/en/actualites/economy/morocco-spain-hold-talks-strengthening-partnership-energy-sector

Morocco, Spain Hold Talks on Strengthening Partnership in Energy Sector
16 November 2020 Printable Version
Rabat - Minister of Energy, Mining and Environment, Aziz Rabbah, and the Vice-President of the Spanish Government and Minister of Ecological Transition and the Demographic Challenge, Teresa Ribera Rodriguez, held talks, via videoconference, on strengthening partnership between the two countries in the energy sector.

The talks, held on Thursday, are part of a series of consultations between the two ministers, the last of which was held last June, with the aim of giving new impetus to the existing strategic cooperation between Morocco and Spain, which is part of a vision of regional integration placing the two countries as two points of connection between Europe and Africa, says a statement from the Ministry of Energy, Mines and Environment.

The two parties discussed several issues of common interest, including natural gas, the electrical interconnection between the two countries, the partnership in the field of hydrogen, as well as the implementation of the Joint Declaration of the road map on the trade of electricity based on renewable energies, signed between Morocco, Spain, Portugal, France and Germany, on the sidelines of the COP22, held in Marrakech in November 2016.

Regarding natural gas, the two parties reiterated their common will to give new impetus to discussions relating to bidirectional natural gas flows.

Hi Form

Just to give you an idea of the potentail.

I think we all need reminding every now and again why some of believe there is great value in the company. We have world class partners in the license. and we have country level cornerstone investor. both of these parties are not running for the door, I wonder why????

I know we have the progressive report but I thought I would put the GSA and the BOOT numbers and the update TE5 production rate together. Now this is a quick Calculation for the new visitors to the BB.
Let’s say we get $8.5 a scf (I know that is a little high) If the production rate at Horst is 66MScf/day thats 8.5 X 66000 = $561k per Day. (Pipeline in place)
561 X 365 = 204.7 million a year.
10 years production = 2.04 Billion.
Sounds Share 47.5% X 204 billion = 950 Million for the 10 years production
Cost for the BOOT is a maximum of 45 million a year, Sounds share is 21 million Per annum.
Other Capex and and Opex lets say sounds share is 21 million per annum. Therefore a total of 42 million a year cost. That gives Sound over 10 years 950 – 420 million = $530 million
$530 converted to Sterling £400million EBITDA.
Gives approx 20p + a share.
Also over the 10 years that works out at 240bcf. That is less than our recoverable reserves.

And this does not include SBK gas discovery or sidi moktar gas discovery.

Or any of the potential massive exploration upside.

Not unusual to adjourn these.

Now that the percentage has dropped to 25% this will go through in December.

There is no rush we have funds until April 2021.

Hi Trellis

Yes it will take a significant amount of capital but the revenue is massive. The BOOT proposed by sound and support by the blue chip consortium demonstrated that it is more than a viable proposition.

Everybody got greedy and wanted that extra few percentage points.

Now that we are where we are the small percentage points don’t matter. It is about getting the job done by hook or by crook ( pun intended). By the looks of the latest 2 RNS the people who could pull the rug, are not going to and therefore the door remains open for At least another 4 years to get the job done.

Hi Trellis

Yes I grant you the figures are a guesstimate.

But there are 2 facts. There is a awful lot of recoverable gas and we have the rights to 47.5% of it.

I think we all need reminding every now and again why some of believe there is great value in the company. We have world class partners in the license. and we have country level cornerstone investor. both of these parties are not running for the door, I wonder why????

I know we have the progressive report but I thought I would put the GSA and the BOOT numbers and the update TE5 production rate together. Now this is a quick Calculation for the new visitors to the BB.
Let’s say we get $8.5 a scf (I know that is a little high) If the production rate at Horst is 66MScf/day thats 8.5 X 66000 = $561k per Day. (Pipeline in place)
561 X 365 = 204.7 million a year.
10 years production = 2.04 Billion.
Sounds Share 47.5% X 204 billion = 950 Million for the 10 years production
Cost for the BOOT is a maximum of 45 million a year, Sounds share is 21 million Per annum.
Other Capex and and Opex lets say sounds share is 21 million per annum. Therefore a total of 42 million a year cost. That gives Sound over 10 years 950 – 420 million = $530 million
$530 converted to Sterling £400million EBITDA.
Gives approx 20p + a share.
Also over the 10 years that works out at 240bcf. That is less than our recoverable reserves.

And this does not include SBK gas discovery or sidi moktar gas discovery.

Or any of the potential massive exploration upside.

This is 2 very positive RNS recently. The sidi mortar RNS can be seen as a massive endorsement of the current Sound BOD by the Moroccan government. You would not expect anything less with OGIF now heavily involved.

This latest RNS is a massive endorsement by our bond holders.

Let’s not forget we have our share of over $2billion worth of recoverable gas still in the company, no dilution of that.

We now also have a 2 year extension to Sidi, thats well more than Europa got recently. That opens the door to a farm in. That is the next RNS that I would hope would drop, that could be any day now. Imagine if it is a super major like shell or repsol.

I would say it is worth looking at the last interview with GL. He must have know that these 2 large RNS where on there way and he did not over promise. I think we are now in the hands of a steady and resilient CEO. Good look all.

I know it is not a popular stance, but I still think that we might get a low ball offer and my guess is most would take it.

GL did mention this I one of his earlier interviews. But has not discussed it for awhile, which could mean that it is progressing behind the scenes.

. A little subdued in relation to the way he used to post

Sound Energy
Yesterday Sound announced that they have initiated the process to restructure its bonds and that a meeting has been convened to extend the maturity date from 21 June 2021 to 21 June 2025 and reduce the interest rate from 5% to 2%. In addition it would issue warrants to subscribe for equity at 2.125p.

This is an entirely sensible move, if successful it would significantly reduce G&A costs and the company would have three years of cash flow from operations to pay down the bond. Also the warrants are a wise move, bringing in money at the same price as recent placing seems very wise.

Elsewhere I feel that all is going pretty well behind the scenes at Sound with the new management getting stuck into operational matters and looking increasingly likely to deliver the goods for shareholders.

The noteholders will not convert on a spike they will want to convert and make money. What would be the point in converting and then Selling at a loss.

They will only convert when they are sure that they are safe..ish.

I would Think that is well over 5p.....imho.

So anybody concerned about they warrants causing dilution must be sure that we are going to rise 60% + from where we are today. Are you sure you are not ramping........

I would be very happy with another 60% plus rise from here. Don’t forget the warrant will bring in many millions of pounds into sound so it’s not like it’s money for nothing.

So if we take those to points into account you can see why it is a good deal.

This is 2 very positive RNS recently. The sidi mortar RNS can be seen as a massive endorsement of the current Sound BOD by the Moroccan government. You would not expect anything less with OGIF now heavily involved.

This latest RNS is a massive endorsement by our bond holders.

Let’s not forget we have our share of over $2billion worth of recoverable gas still in the company, no dilution of that.

We now also have a 2 year extension to Sidi, thats well more than Europa got recently. That opens the door to a farm in. That is the next RNS that I would hope would drop, that could be any day now. Imagine if it is a super major like shell or repsol.

I would say it is worth looking at the last interview with GL. He must have know that these 2 large RNS where on there way and he did not over promise. I think we are now in the hands of a steady and resilient CEO. Good look all.

The deal is done, the meeting is just a rubber stamp.

Do you really think they would release this without getting assurance from the noteholders.

Looks like we are going to get a series of RNS over the next few weeks. The warrant price is a good indication where the bot holders are expecting the price to go. This will also be great form of money coming into Sound at a massive bonus on today's price. What's not to like

Great RNS

That's the debt sorted

A nice change in level 2

Something might be up now
9 v 20

Nothing has changed on L2 may be a little negative

9 v 18

Sound can not maintain a rise (L2 now back to 10 v18)

we need some financial viagra