Member Info for kylie75

Light afternoon comedy ktf, love it. It’ll be on the sou website soon too for anyone with minimal levels of initiative.

You don’t ktf. As ‘someone whose job is in CBs’ (cough cough) I’d have imagined you’d have access to Bloomberg or LSEG (prev Reuters) systems where it’s available free. Also free from source. Again, like shooting fish in a barrel.

As a realist on SOU it’s like shooting fish in a barrel on this bb. Interesting how not a single mention of the SPA broker note. Mmm wonder why….lols.

3.1p to you smudger, oh dear oh dear. another step backwards. paint that as anything but ****e.

Difference is KTF, majority of my views are accurate, yours clearly the opposite!

The complete unbridled arrogance and lack of self awareness of many posters here just blows the mind. You ran out of fingers with which to plug this leaking dam years ago. Just look at the sp. Forget those selling, as you seem too weak to be able to comprehend that, but far worse is the other side of the equation, the complete absence of buyers. That’s far far worse. The market might just be a little more clued up that a bunch of middle to later age men who are horribly underwater and far from objective. Just look, 0.9p trading the nothing GL can do can support the sp, let alone cause it to rise. GL usual tricks, sneaking in further delays and being COMPLETELY NON-COMMITTAL on any dates. Phase 1 commercial gas flows now imho won’t be until Q4 2025 now. I was lambasted on here by the usual loons when I said over a year ago it wouldn’t be until 2025. How optimistic was I!! Further bs FID and Phase 2 conclusion of funding dates. This is what rationale sane investors see here, not the rose tinted bs that’s spouted by so many who are wrong here, wrong wrong for years on end, yet they still post in the same fashion. This company imho will go bust before it makes a penny, or bondholders will wipe SHs out, same difference.

Always make me chuckle the characters on this bb, the unbridled unjustified and psychotic levels of optimism and ‘rose tinted views’ just remind me so much of The Black Knight from Monty Python in the scene where he loses all his arms and legs and tries to keep fighting before saying, ‘lets call it a draw’! There’s no level of bs, failure, repeat detain for investors or missed time scales that people can’t papered over some how by the characters on here. It’s incredible.

100% GL is on the way out. Transaction concludes, he walks. What kind of CEO/Chairman hints twice in a call that 'he's done' here. It's turning into a very different beast, little skin in the drilling game now, lower risk agreed, but little med-long term cash and not much for GL or many others to do. And certainly no cash for exciting new opportunites in Morocco or North Africa! Where there's smoke there's alway fire with this company and again today GL did all he could to point out some smoke to everyone (and I'm not just refering to him leaving).

Nail down your pies, lock up your nibbles, the sweaty fat chap’s in town. What’s it come to when you rely on Malcy to try to pump the market?

Is this your first Moroccan rodeo Chesh? same ole SOU guff of an interview. don't take my word for it (that's subjective by the way, not a fact), just look at the sp. it's -7% today (fact), last traded 0.92p (fact) and less than 10% higher (fact) than where is closed last Friday before the Managem RNS came out (fact). keep huffing and puffing old boy, but the mkt clearly couldn't give 2 fks (part fact - supported by fact not 1 single share traded in the last 35 mins, part subjective view). sou are desperately trying to get the message out via multiple channels, but they don't get it. o&g in a corrupt country doesn't seem a great option for a retail investor, especially not with SOU's notorious timelines. GD suggested deal concludes within 3 months - so applying the CV timecales to that (originally 45 days excl period), it's more likely 18 months I think, all the while Phase 2 can't progress as potential new owner of licence isn't in control - more slippage.

Half time.

Kind words KTF, your concern brings a tear to the eye.

Scarf don’t worry I’m not going anywhere.

Motivation is irrelevant. Someone’s either posting sense, logic, facts, or not. If you think not, then just filter, that’s what it’s for, anyone that’s ever read a Pescado post knows that!

It’s an anonymous bb ktf, like any sane person I’d hope, I’m not here for any reasons other than my own. It’s clear most here have pretty low expectations already, but I still think there’s a few negative twists & turns to come. Time will tell.

No, most of what I post is fact, uncomfortable fact for a few, but fact nonetheless. then you just need a little experience and nouse and you join all the dodgy little dots and then I decide to invest or avoid. this one is definitely in the latter camp as the last 7yrs have proven the right thing to do. rotten egg this one, both company and managament, but you'll work it out, perhaps. you can repeatedly try and paint a turd with gold leaf, try and trick and confuse a few gulliable ones, but underneath it's still the same thing.

Cont....

Board Change

Following the signature by the Company of the binding SPA between Sound and Managem Simon Ashby-Rudd, a non-executive director of the Company, has informed the Board that he does not intend to put himself forward for re-election as a director of the Company at the Company’s AGM to be held on 28 June 2024 (“AGM”). As a result, and with the transaction announced today providing the financial and operational security for the next stage of Sound Energy’s development, Simon Ashby-Rudd will step down as a director of the Company at the Company’s AGM to pursue other interests.

Commenting, Graham Lyon (Executive Chairman of Sound Energy) said:

“Simon has provided invaluable advice and guidance since his appointment to the Board and throughout the process which has led to today’s announcement. I and the rest of the Board thank him for his service to the Company over the last year.”

Cont.

55.0% of the Concession

47.5% of the Grand Tendrara Permit

47.5% of the Anoual Permit

Under the SPA, the Company has provided customary warranties and undertakings to Managem and, whilst the terms of the SPA are binding on the parties, the SPA remains conditional upon, inter alia:

Approvals by ONHYM and the Moroccan Minister of Energy of the Company continuing as the Operator of record of the Concession and the Permits notwithstanding the sale of the Sale Shares at completion;

Antitrust clearances being received;

Receipt of the written authorisation of the Foreign Exchange Office (Office des Changes) relating to Managem’s payment obligations;

Confirmation in writing by the Seller to the Buyer that no Material Adverse Change has occurred;

Approval of ONEE of the change of control of the Company pursuant to the ONEE GSA;

Removal of Sound Energy Morocco SARL AU as dormant subsidiary of SEME;

Approval by Schlumberger in accordance with the terms of Schlumberger’s profit-sharing deed in respect of the Concession or Managem negotiating and entering into an agreement with Schlumberger for the cancellation of the profit-sharing deed;

Extension of the Start Date/Deemed Start Date as defined in the LNG GSA;

Delivery of Completion accounts and Assurance Release Conditions; and

The approval of Managem’s board of directors by 12 July 2024.

In the year to 31 December 2023, SEME recorded a Profit before tax of £1,301,000 on no revenues and, at 31 December 2023, had total assets of £56,976,000.

Commenting, Graham Lyon (Executive Chairman of Sound Energy) said:

“We are very pleased to have entered into this binding Share sale to an excellent counterparty Managem SA. The share sale transaction of our UK company subsidiary, the Permits Owner, is structured to allow a smooth transition to Managem whilst bringing Sound Energy two new exciting exploration drills, substantial funding for the phase 2 development and past costs. There is also a production bonus once Phase two gas is delivered”.

I’m looking forward to catching up with Graham Lyon as this is a smart deal that ‘significantly de-risks’ phase 2 of the deal. As you can see from above the deal brings with it cash in return for back costs expended as well as the carry. Add to that the two exciting exploration wells giving additional upside and the rise in the share price is fully justified.

About Managem

Managem is an international mining group with resolutely African roots, with a presence in 7 countries across the continent. Initially present in metals such as cobalt, copper and zinc, it has since diversified into precious metals, with silver and gold. Today, Managem employs 5,009 people of 22 nationalities in 13 mining operations and 22 industrial units, all on the African continent.

Board Change

Following the signature by the Company of the binding SPA between Sound and Managem Simon Ashby-Rudd, a non-executive director of the Company, has

How this guy makes a living doing this i have no idea. he's simply copy and pasted the RNS and then wrote about 40 meaningless words at the end. anyway, for all those lovers out there, here's malcy's 2p (1p really) worth...

"Sound Energy

Sound announced on Friday the entry into a binding Sale and Purchase agreement for the partial divestment of the Company’s Moroccan assets by way of the disposal by the Company of the entire issued share capital of Sound Energy Morocco East Limited (“SEME”) to Managem SA for a total value to Sound Energy of up to US$45.2 million.

Key Highlights

Pursuant to the SPA, Sound Energy will continue to hold an interest of 20% in the Tendrara Production Concession, and 27.5% working interests in each of the Grand Tendrara Exploration Concession and the Anoual Exploration Permit (the “Anoual Permit” and together with the Grand Tendrara Permit, the “Permits”).

Managem will provide funding for Phase 2 development of the Concession, funding for two exploration wells in satisfying the work programmes under the Permits, a contingent production payment and recovery of past expenditures.

Sale of the entire share capital of SEME with an effective date of 1 January 2022, pursuant to which Managem will acquire the following interests in the Group’s Moroccan assets:

55.0% of the Concession (Sound Energy to retain 20% interest)

47.5% of the Grand Tendrara Permit (Sound Energy to retain 27.5% interest)

47.5% of the Anoual Exploration Permit (Sound Energy to retain 27.5% interest)

SPA consideration payable to and on behalf of the Group includes:

US$12.0 million in Concession Phase 1 development back costs through to July 2024 net to a 55% interest in the Concession and payable to the Group in cash on completion.

US$1.0 million in back costs in respect of Concession Phase 2 development and Permits back costs payable to the Company in cash on completion.

Up to US$24.5 million net carry through Managem funding of the Group’s remaining 20% interest in future Concession Phase 2 development.

Contingent consideration of US$1.5 million payable to the Group no later than one year after first gas from Concession Phase 2 development.

US$3.6 million net carry through funding the Group’s remaining 27.5% Grand Tendrara Permit interest in drilling exploration well SBK-1.

US$2.6 million net carry through funding the Group’s remaining 27.5% Anoual Permit interest in drilling exploration well M5.

Background to and further details of the Farm-Out

The Company announced on 9 August 2022 that it had initiated a formal farm-out process to identify a partner for the Concession and the surrounding Permits. With the Company holding its assets in Morocco through various subsidiaries, the SPA, which remains conditional upon certain conditions precedent, will see the Company dispose of the entire share capital of SEME (the “Sale Shares”), a UK company holding the Operating licence position and equity in Morocco a

Chesh, you honestly can't be as stupid as you come across, surely? if you just don't or can't seem to get it, don't shoot the messenger chap.

Haha, i take it that's a yes from you then Chesh! you join a long line of zeros posting zip value on this bb, avoiding the inconvenient truth. clap clap. when caught with nothing to say about the terrible mess the company is is, just try and go for the poster and create pescado level noise. very telling. cheers.

Ok, back on topic. Is there anyone that actually understands what's going on here that agrees with KTF that there's lots of juicy news imminent? i can't think of anything. looking at the CPs on the RNS, not even the Managem deal completion (if that ever happens) will be soon. GL and GD are in a never ending 'closed period' so you won't get director buys. So other than perhaps confirmation they up their salaries and golden good byes in their contracts, i can't think of anything near term. what am I missing? It won't be Sidi (way too risky / involve too much cash at this stage, even post Managem sale), and anyone thinking solar in the Moroccan desert is the company's way out, doesn't understand a thing about solar farm capital costs etc. sou has no cash to put in the pot! it's a waiting game i think with zip upside, and 1p downside.

Are you related to Pescado by chance Chesh? you cheeky little monkey you....

KTF's big big bruv, with 10x posts