Member Info for keeptofacts

agreed, never seen that before.
getting exciting now.

showing as buy volume of 10m on advfn.
either way they weren't sells or we would have plumeted.

even a bed and ISA should show a small spread.
these trades don't, which is odd. not sure they are ISA transfers, but agree weird the sp hasn't changed

as soon as people realise it's not dropping back it will jump to 2.3 or so I think

sorry about the typos (why can't you edit posts here?)

on a purley personal level it is much better for me that it has taken this long.
there is absolutely no way I would have had the number of shares I have now if we hadn't had the prolonged down turn.
I think this is the year it all comes together.

Derby - worth remembering sound today is not 'just' a hit or crash explorer.

we have gas discoveries and are in the process of comercialising those discoveries (phase 1 and 2)
phase 2 includes a 20 inch pipe (how much gas does that imply?)

so even without any further exploration there will be signofocant cash flow that makes today's market cap look tiny.

BUT. there is huge exploration potential (3 well program / farm in) PLUS all the rest of the acerage!

great article, thanks Ducati.
this is all looking seriously good.

they call it micro LNG, but there's some serious engineering involved.
Good to see progress continues.

we get over 2p and stay there?
surely we are getting close to a proper re rate now.

agreed, market cap won't be today's 32 million.
I would suggest 300 million would not be unreasonable and it wouldn't surprise me if it went a lot higher on speculation around future (beyond 3 wells) exploration.
potential backed by actual revenue / cash flow is an intoxicating combination.

and before anyone says it. naturally you need to deduct liabilities.

Important to remember that companies on AIM (and elsewhere) are usually valued on assets, income and POTENTIAL.
Sound has plenty of assets, income soon and arguably huge potential.
Unless you subscribe to Graham's long debunked efficient market theory I would suggest very little of this is currently priced in.

Think you'll need to be very lucky for this to stay at this level until April!

think Market Cap.
what sort of market cap would be appropriate for a company with
the tax issues put to bed
LNG up and running
phase 2 pipeline etc. funded and being worked on
3 exploration wells with farm in.
huge additional exploration potential.

then think what market cap is reasonable if any 1 of those 3 wells comes in?

agreed, there's a lot if things happenig right now.
when we get news on any one of them today's sp will be a distant memory.
phase 1, phase2. tax appeals, farm in, exploration ....

indeed, it's not done til it's done.
actually I was even more heartened by the fact Graham was willing to publcly state the defenses than the nature of them.
we'll have to wait and see, but I am confident.

dave...
these are my notes from the recent presentation. Graham was very clear that there is no case to answer. Indeed, one of the cases is largely made up of VAT which their own rules state doesn't apply.

Tax situation – sem east case – back in court. Started appeal. glaring errors in the way judge has interpreted the situation.
Licence reverted to government.
Then a new licence issued by government.
Tax case relies on the original licence still being in place – it wasn’t.

Sar lo case $20m exposure. $16m is VAT, but exploration companies exempt from VAT under hydrocarbon law.
The licence was abandoned.
The other $4m is
Tax authority doesn’t recognise how the project was funded. Tax authority workaround is the cause of the tax liability.
Hope to settle this year.

I'm no apologist for JP, did he isalead people? probably.
However, you say "tax issues', let's not forget the failure is bean counter and this should have been his specialist subjec"
from Graham's presentation ot looks to me like there was absolutely NO MISTAKE in the tax approach. There looks to be simply a complete misunderstanding by the local tax authorities of their own tax codes and details of the transactions that other Moroccan agencies were fully aware of.

So, unpalatable as it may be to many, JP appears to have got the tax questions corect!
this is ONE thing you can't clain he got wrong.

the irony is that if it had all worked out back then I would have made good money, but nowhere near what I will if it all works out now.
Even taking into account the time value of money this should be a much better result for me.