Member Info for keeptofacts

Doesn't the 65% gearig simply refer to the partner financing mentioned in previous rns?

that is, you don't get the loan until you have the rest of the money in place. as in, the bank likes the project and will lend the moiney but only on the condition you have the rest of the required funds so the project will complete and you will be able to repay out of cashflow ...

Make no mistake today's news is transformational for Sound.

It would be nice to see the sp higher today, but the important thing is that Graham et al. are building a stable business that can generate significant cash flow which in turn can be used to go exploring for more gas on their enormous acreage.

Sound is no longer a boom or bust gas explorer, it has the funds and plans.

Next rns should be the farm in partner, and it won’t be long.

Maybe the negative backward looking idiots will stfu for a while, although sadly I doubt it.

Onward and upward Sound!

Think you seriously need a different hobby :)

I already filtered your posts pduk ;)

You say "(speaking of which, is there anyone that doesn’t think Marco’s selling right now? And if he is, why would he given all he knows…..?)"

he only owns a couple of million shares. many posters on here own far more.

As net EBITAA is a function of Gross EBITDA and percentage of asset owned, which hasn’t been confirmed yet, I would suggest gross is the only relevant number.

Most people reading these boards would be bright enough to realise that.

Let’s do a little though exercise.

Let’s assume net EBITDA for phase 2 is ONLY $10m annually to sound (which clearly is ludicrously low).

Then on an sp of £26 m the company is extremely attractive even ignoring phase 1, ignoring expansion of phase 2 and ignoring all the exploration potential.

It has the cash to get to first gas and sensible plans in pace.

You tell me why you think it isn’t a buy at this level? And don’t waffle on about the past BOD and their screw ups, completely irrelevant.

Apologies for typos, in haste as better things to do this afternoon.

I quoted GROSS EBITDA generated by the phase 1 and phase 2 projects.

as we all now it is highly likely (and welcome) that sound will have a partner for phase 2 hence NET to sound in lates sp angel report is.

would hardly think that needed saying, but apparently so.

whilst stating the bleeding obvious might as well add if the gas price goes up the un contracted gas will generate MORE EBITDA (both gross and net).

hope that helps.

Of course kylie, you would have known that IF you had been in sound for 12 years as you claim, but wait, the sp angel article was from before you took an inetrest https://www.soundenergyplc.com/media/z5zb2q55/sp-angel-sou-2023-05-25-nav-update.pdf

still seems very suspicious that you held this share for supposedly 12 years and only chose to post onnher this week. naturally you'll say you posted elsewhere, but in which case why the sudden shift!

You#'re a lovely person, aren't you Kylie?

try reading again sp_angel

Phase 1 micro-LNG development on schedule to commence gas sales in 1H24

Italfluid is constructing the central processing and storage facilities to deliver mobile

LNG to Afriquia Gaz, which has provided an $18m loan note to fund the project to first

gas. The main civil work to prepare the foundations for the micro-LNG facility at

Tendrara is complete and work can now move on to erect the main storage tank. In

parallel, Sound is negotiating with the rig contractor and the EPCM contractor on

completion of the T6 & T7 wells and flowlines, with all parties working towards a

delivery date of 1Q24. The structural changes in gas pricing means the phase 1 gas

realisation should be at the top of its ceiling price and we expect first sales production

in 2Q24 to generate a run-rate of ~$10m EBITDA per annum net to the Company.

and

we estimate these two gas projects

can generate upwards of $75m in aggregate annual EBITDA with relatively light capex

requirements.

75m-10m = 65m !!!!!!!!!!!!!

Worth keeping in mind the following figures

market cap £26 m

$10 m EBITDA phase 1 PER YEAR

$65 m EBITDA phase 2 PER YEAR

At current bid, market cap is 26 million!

what were the phase 1 and phase 2 revenue forecasts again?

A few more for me too, although showing as a sell

Also curious why having been in and out of this share since 2011 you chose now to join lse and make a first and negative post. very odd

You say "Another reasonable size sell on the close I noticed too....."

have another look, that's the UT trade, but expect you really knew that anyway but hoped others didn't, right?

you say "Odds on the bank funding is slipping away I feel"

why do you feel that? I hope it's not simply because the sp has dropped, that would be rather naive I feel, especially coming from someone who apparently doesn’t know what the UT trade at close is.

Yes, phase 2 funding is annoyingly slow, but if it wasn’t coming we would have to be told by RNS as soon as they knew, until I see that RNS I will ignore you’re feelings about the odds on funding.

Have a good evening.

Or maybe I've never bought a house needig a mortgage!

either way the point stands. Verbal confirmation will not swing it, ergo the RNS IS significant.

1: there is no euphoria

2: it is actually very important. Until this rns and wrtiten confirmation of cases being dropped the law suits still hung over sound and will have been a concern for any partner / investor / lender.

imagine you're buying a house and the owner says 'sure there's no flood risk here' you still won't be given a mortgage on that house (assuming you need one) until the bank gets's formal confirmation of that!

Is really getting desperate. ALL tax claims against the company have been formerly dropped. That's it.

the details of amounts are in previous RNS

I wonder if this formal step was a prerequisite of the phase 2 funding?

and perhaps the binding partner terms?

we'll soon find out.

Are doing a good job, not bare doing.

@lse - time to allow editing of posts?