Member Info for Ian_

Now, Now, Crudehope, you keep your eyes OFF the pretty young lady,.... no harm in window shopping I suppose, there I've used that word window again, Shawngreen47 won't be happy,,,,,

( only joking,... please keep us informed back home and have a good time )

All the best

Forgot to add the link, may or may not work:-

https://www.facebook.com/photo.php?fbid=10155866929047548&set=gm.1474556749313966&type=3&theater

For those of you who are "IN" the Sound Energy Plc - Investors Group on "Facebook", a "Nick Witham" has posted a good picture of the rig site from yesterday, this is a 360-degree picture and when expanded to full screen you can steer your view around the whole site, clever.

Special thanks to all those who have reported back from the site visit.

Twitter
https://twitter.com/soundenergyplc

I stand corrected......, drilling has NOT yet started and is awaiting the completion of the building the podium for the ribbon cutting ceremony, as Trellis33 pointed out, (that was funny Trellis)

Drilling has started<

Continued:- well producing gas at the rate of 2.5mmscfd at 7,175 psi. Subsequent seismic inversion analysis indicates the SBK‐1 well was drilled on the edge
of the reservoir, however this has yet to be fully confirmed, is it the edge or is there more?

60 miles YES THAT DOES READ 60! 60 miles to the northeast lies TE2 and this had gas shows and
striking geological similarities including bottom hole pressures. TE 5, 6, 7 & 8 lies somewhere in
the middle between SBK1 and TE2, or maybe closer towards TE2 than the middle, but you get
the general picture.

So, we have proven gas shows in the TAGI some 60 miles apart on the licence area, with
geological and pressure correlation / similarities, TE2 did not produce, for the reasons explained
above. Sound and Schlumberger have drilled 3 wells TE6, TE7 & TE8, they have done this with
amazing attention to detail and this is where the secret of the TAGI has been unlocked, albeit the
TE8 TAGI proved to be very tight and encountered a water contact. They now have the data, the
technique and the knowhow to exploit this reservoir for every hydrocarbon molecule that is just
dying to ooze through the slotted sleeves of the production casing. The aerial gradiometry and
subsequent seismic survey will prove to be a defining factor in the emergence of this potential
super giant gas field as interesting and prolific gas bearing zones are identified.

" above all copyright of Frank James "

Have a good day all and to those lucky enough to be out on the site visit, keep us informed, please.

EASTERN MOROCCO
“Long term TE8 Paleozoic exploration will prove to be a fabulous result, short term it has been
disappointing and the TAGI was frustrating too”
James Parsons 17th August 2017

Our conversation now moved on to Eastern morocco. JP expressed is enthusiasm and excitement
about a total focus on Eastern Morocco, this is the main focus. The plan is to kick off drilling again
late December or early Jan, we had the recent announcement of the likely three locations for
potential drilling and / or re‐entry. However they have recently identified 2 more locations they
are excited about so they have 5 locations. Obviously I asked where these other locations were,
all I got from JP was a wry smile from and a comment coupled with a glint and smirk in his eyes
“Frank, I can’t tell you that” I retorted with “TE5 and SBK1”, but JP wasn’t giving anything away.
I strongly feel that a re‐entry of TE5 is on the cards, the chance to side track off that well and
explore the deeper Paleozoic horizon surely is an opportunity not to be missed, well I suppose
time will tell, JP was tight lipped on the subject so in my mind this was his way of confirming that
TE5 re‐entry was high on the agenda, come on JP let’s see how much gas there is in the Paleozoic
under the TE5, 6 & 7 horst!!!

SBK1
I covered the details of SBK 1 in earlier reports but as a reminder and to tantalise the financial
taste buds here is a summary of the SBK 1 discovery.

Skidmore Energy Inc. ventured into Morocco with a goal of achieving a successful "wildcat" oil
and gas exploration program through the use of patented sedimentary residual magnetics (SRM)
technology. Skidmore Energy, a private Texas company, had successfully used SRM technology
in South Texas and the Gulf of Mexico before venturing into Morocco. (SRM) technology is an
earlier version of the aerial gradiometry that we are currently undertaking over the Meridja and
Tendrara licence areas.

SRM technology, developed by Geoscience & Technology Inc., is an aerial magnetic
reconnaissance exploration tool used to identify potential hydrocarbon leads. The hydrocarbon
leads are termed "magnetic bright spots" (MBS), also patented. Following identification of MBS

leads, seismic is acquired, the prospect is developed, and a drill site is chosen. SRM was used over
licences in Morocco and in particular extensively over the Tendrara licence which lead to the
discovery at SBK1.

To date approx. 9 wells have been drilled in the basin, 30‐60 miles northeast of the SBK prospect
that have tested the Triassic sandstones. AGIP drilled the TE‐1 and TE‐2 wells in 1966 to 1967.
Onarep drilled the TE‐3 well in 1985. TE1, 2 & 3 wells had slight gas shows in the TAGI formation
but were never tested and were subsequently plugged and abandoned.

The SBK‐1 well, drilled in mid‐2000, encountered the TAGI formation productive at 11,235‐290
ft. Completion of the TAGI reservoir resulted in a well producing gas at th

Continued:- This is being carried by Schlumber and the level of detail that it will uncover will more than likely be
a catalyst in the overall end game and sale of the asset. So all in all the Schlumberger seismic
exploration deal really is a key ingredient in the Story to date. I don’t think that we as PI’s really
appreciate the deal that this was to be in a position to be able to effectively take a digital snapshot
of a huge area over the Tendrara and Anoual licence areas, this will be a major part of the overall
discovery, and coupled with historical well data and known geology, this really is one of the key
elements to date.

" Above snippet extracted from Frank James 27 Page PDF on his meeting with Sound August 2017"

SALE OF ASSET v SALE OF COMPANY & INTEREST IN EASTERN MOROCCO

“We wouldn’t have to drill anything after gradiometry and seismic to sell this business at an
exciting price”

James Parsons 17th August 2017

James remarked that there is a huge upside to selling the company over just the asset separately;
this would mainly be driven by tax issues. James has looked at the tax implications against selling
the asset or selling the company and there is a huge benefit to shareholders from selling the
company. By selling the asset, which is fundamentally a Moroccan asset, they would need to
bring it back to the UK, which would incur tax, then you have to get the funds distributed to
shareholders as a dividend which will also incur tax, all in all the asset sale is not very tax efficient
when you consider it against selling the company as a whole. After listening to this I would say
that this would be the area that Sound would be heading. By selling the company shareholders
could be subject to capital gains tax but it is a one off tax rather than a filtered and multiple tax
succession to get the value of the asset sale back to the shareholders. We then discussed at
length what Sound would need to be in a position to sell the company at an attractive price, what
data, how many more wells and so on. As you can see from the highlighted quote above, this is
a very poignant statement and one that completely left my jaw firmly planted on the floor!
I had to be careful what I asked at this point but I was intrigued to know if they had much interest
already in the asset in Eastern Morocco. I have to say the answer was quite exciting to say the
least. James explained that from the end of summer last year the contact was relentless, they
had all sizes of company’s contacting them, some very well‐known majors and some even he
hadn’t heard of, he said it is very exciting regarding the level of interest. James answer to them
all was predominantly the same “it is a little early to be having this conversation, you want to
know what we have so you can get involved, we want to know what we have too”!
His reasons are the belief on all that they know about the licence and that they can find a lot
more gas, Sound really want to know how far they can take this before they sell the company,
again if you recall earlier in the report James stated that they could literally sell at any time. He
could pick up the phone at any time and sell the asset. What a strong position to be in, very
exciting and now we need to get some proven TCF’s under our belt and the value can really start
to increase. James then reiterated the beauty of the Schlumberger relationship and of course the
fact that they are providing the budget for the Aerial Gradiometry and Seismic, this is a huge
amount of capital. If you look back 6 months and think of the work plan going forward, Sound
would not be able to afford the current seismic program, it would be a huge capital risk

36.29 on Google

Goodmorning Manics,
Thank you for your gracious reply, as previously stated "MiddleEastMoney" was an intriguing and informative poster on this share Bulletin Board and came up with some well written, intriguing, and positive theories, this was appreciated by
lot's of people "250SWB" included, these posts were often copied and pasted to other Bulletin Boards by 250 and myself as they were good posts for other investors to peruse. 250SWB never took credit for the posts and made it clear they were being reposted from another author. My personal take on "250SWB" never having met the poster, is he is a gentleman, lives in London, made his money, enjoys tinkering with his Ferraris, enjoying his life in later years, likes good food and wine, and may have overindulged a bit too much in the latter, as we hear he often runs around the park trying to lose a few inches from the waistline :-) Oh! and does good restaurant reviews that the rest of us may be able to afford if Sound Energy comes up trumps.

Manics, thanks again and hope you have a good day.

All the best
Ian

250,

They were used for the lining paper :-)

Evening smallsmile, my post of 08.20am today was a direct copy and past of one of your posts, not any other poster, timed and dated 2017, perhaps it was a Maxwell post and you reposted it to cheer people up and make them smile.
and I screen grabbed it then.
Nothing wrong in positive vibes for the share we are invested in, hope you are well and keep posting.
all the best
Ian

Nearly Forgot, that is why I print out what I think are good posts, so I don't lose them.

also, have you seen the price of wallpaper lately

All the Best

Ian

Evening Manics,
are you insinuating some sort of conspiracy theory regarding the poster "MiddleEastMoney" and the fact that you do not recall the poster yourself (many here wood, I would think) and that you personally can find no evidence of any recent Sound Energy posts from him, well the simple answer is he has not posted on the here since December 2017 .....He used to I can assure you.

The reason you can find No Sound Energy post prior to approx February 2018 for "MEM" is NO conspiracy, the data was either lost when the site crashed or wiped to save space on the server, this is NOT just particular to "MEM" who has Posted:1244 times since joining LSE, but if you click on his name it takes you to member info and his Number of Share Chat Posts (all time): is only 258. and you think he has had all his SOU chats removed...He just has NOT posted on this particular share since December 2017.

Manics, If we look at your particular posting history you have Posted:902 times since joining LSE but only have 162 posts (all time).....Have you had your SOU chats removed I wonder!

Picked at random No particular order:-

Fellrunner75 = Posts 1132, ....Member info says posts ( all time ) only 460 now.
Daveyboy71 = Posts 2695, ....Member info says posts ( all time ) only 513 now
Jacklevi = Posts 2102, ....Member info says posts ( all time ) only 492 now
Shaungreen47 = Posts 1610...Member info says posts ( all time ) only 388 now
DDboy = Posts 2125....Member info says posts ( all time ) only 156 now
Me = Posts 93........Member info says posts ( all time ) only 9 now

Every poster I click on has had a large reduction in posts removed, do you think they have been up to something, I don't, just loss of data, presumably to save space
on the Pentium 486 server ( joke ) with INSUFFICIENT memory space, at least it sometimes feels that way when it struggles and crawls trying to use this site..

So No conspiracy with what I posted from "MEM" it was quite genuine and if other posters remember his posts also please say so.

Here's to a good day tomorrow for the share we are invested in.

All the best
Ian

Good Morning 250, sorry for late reply, went out for a Curry with friends last night, most enjoyable evening.

Remember the time I suggested your username might have had connections with a 2.5L Short Wheel Base Landrover and you politely corrected my ignorance when you told me what your Old Bangers as you call them really were.

You're very informative posts from long ago on the old ADVFN bulletin board really got me into this share with what might lie lurking below with our geology, I can't thank you enough and it would be great to meet you personally at the Liquidity Event party (if and when disclaimer)

You posted a reply to my reposting of an old MEM post and have extracted a section below:-

Now the good news:

MEM did post a bit and seemed to have his head screwed on well;
I have not seen him here recently so I do hope he is still a holder and in rude good health
(I doubt that he drives a 205 gti )
I think his figures were much more feasible;
large £ of course in the upper reaches but at least feasible!

You wondered if he is still invested in Sound Energy, well MiddleEastMoney posted a reply to Riddlers, as below:-


3 Dec '17 Hi Riddlers,

I dont Post as much as I used to, but I floated 70-90 Tcf last summer, as a possible Total figure in all of the SOU Licence area's.

Nothing has changed my view to think of a lesser figure, quite the opposite, I feel very confident of this being achieved.

The only known/known/unknown/ known is how many Tcf proved up by use of a drill bit vs how many Tcf 'assumed' through interpolation of known knowns etc. This mix will be utilised to realise the eventual Exit Price at the LE.

I still think JP has Shell in the wings, with a Share swop and juicy divi from Shell as one option.

I have built up a 7 figure No of SOU shares in my QROP, I would think it very very likely we will see in excess of £5, but probably £10 is actually quite achievable, possibly much more....

So back in December 2017, he was still very bullish and had built up a 7 figure holding, but he does not post as much any more, mores the pity as he was good for moral on this board.

Keep the restaurant reviews going, I like them, might do one myself on the local Indian restaurant.

Kind regards
Ian

Morning Oilpimpdxb, in reply to your question, the original post from SmallSmile.


Posted on Wed, Apr 5, 2017


RE: What exit price range for JP?

smallsmile - by popular request, to cheer you all up:


Today 17:43


From Gherkin presentation: 90 tcf (average Algerian analogue) x a conservative £1.50 per share (expected range from Sound HQ meeting after Shard was rumoured to be £1.50 to
£2) x recoverability factor of 75% (Hassi R Mel recoverability factor from Wikipedia figures - Note, however, Hassi R Mel is mostly Tagi gas, so generally could be a bit overstated here. Brian suggested that they use a 60% recoverability factor at Sound Energy i.e. he said
0.5tcf = 0.3 tcf recoverable) = £101.25 per share as total value of Tendrara I Merijda asset.

From recent Shares presentation, Brian stated that the 9/17/31 tcf figure, and too, the
Algerian analogues, were 'recoverable resources'. Hence my revised estimate of 90 tcf x
£1.50 = £135 per share as total value of Tendrara I Merijda asset.

Many people have rather glibly stated that the asset is only worth what someone is willing
to pay for it; so I have looked at this more closely. In an auction a bidder will pay a) what he can afford, b) a price that beats his competitors i.e. the second highest bidder's final amount, and c) up to an amount when the purchase is no longer profitable to him.

I have argued that a purchaser will need 35% of the asset value to be profitable to him, that is to provide reasonable profits to grow the business (10%), to pay directors (5%), to pay a dividend to shareholders (4%), to pay costs of negotiating purchase and administering gas sales agreement (1%) [Note: the tcf figure covers all other costs in getting the gas out of the ground and to the customer, taxation, gas price, etcetera]; and to cover risk (15%) [risk perhaps can also be seen as cost of finance if 100% financed by a 3rd party]. Thus, if two bidders compete to their highest bids, Sound could realise 65% of the total asset value.

65% of £101.25 per share= about £65 per share (Gherkin estimate)
65% of £135 per share= about £85 per share (recent Shares presentation) Eye-watering indeed - but hopefully some logic to it too.
smallsmile - hopefully that raises a bigsmile now?

This is a repost of a post from MiddleEastMoney (MEM) a respected poster who did his research and came up with these numbers a while back, one of the many that I printed out and hung up on my wall as to why I am invested in Sound Energy. Apart from the transparency of James and the team at the events that I have attended.

Repost as follows:-

" I quoted 75 Tcf not so long ago, I hope you can join the dots and see the end game, you have to think like JP to partly unlock what is happening here.

I stipulated using only 30p per Tcf in any calculations, so using that very conservative figure.

10 Tcf = £3

25 Tcf = £7.50

31 Tcf = £9.30

45 Tcf = £13.50

75 Tcf = £22.50

Yes, I hear you say these are massive M/Caps but are what I suspect a Co will pay for 20+ years of Gas.

We are sitting on something very special, that will eclipse your previous dreams and aspirations.

Finally, let me remind you of how very conservative JP is (An Accountant by trade) he suggested a 4 figure number re share price / Tendrara, the figures published through RNS are very conservative, NOMAD's are very conservative, CPR's are very conservative, Litigation if over promise and under deliver.

The only time you will see the truly massive numbers are at the sale of the Asset (allowing for a profit for the next Co)
Eventual share price achieved, I think between £13 and £22"

The above estimates are MEM's, but one of the many reasons why I'm invested here in Sound Energy, Big gamble maybe, but an even Bigger reward if it comes off.

Now, what about SmallSmile and his £135 proud per share, you never know....

Good luck to all Investors, as we all wish for the Big one, thanks to all the past informative posters too many to mention that have helped me in assessing this prospect and have helped me keep the faith when my shareholding is in the Red. Now let's get that drill bit turning to see what lies beneath.

All the best
Ian

Partridge, are you thinking of this, .....Morocco Mole is Secret Squirrel's sidekick. He wears a fez, a smoking jacket, and large glasses. From The Atom Ant/Secret Squirrel Show circa 1965.

https://www.youtube.com/watch?v=IE_lhN6tdXE