Member Info for LedZep

Interesting piece on the NW news last night and an article in the Guardian, from a year ago, re: mixing Hydrogen with the domestic/industrial gas supply (20%) to lower the emissions.
Cadent Gas and Northwest gas involved, with £15m funding

Hydrogen seems to becoming a hot topic on many fronts.

/www.theguardian.com/business/2017/aug/07/trial-to-phase-in-hydrogen-as-fuel-to-begin-in-north-west
/cadentgas.com/media/press-releases/2018/hydeploy2-hydrogen-to-heat-homes-in-north-west

If the £15m investment is announced with the results of the commercial discussions, then all well and good, and it would be time to disconnect the kitchen sink and throw that into the pot as well.

Got a small stake in this at the moment, with the intention of upping the ante, as and when concrete progress becomes more apparent.
Did expect the latest RNS to have more of an impact on the sp, (particularly with Toyota T's General Managers statement re: potential future partnership), but nevertheless it appears to be holding it's recent modest gains. It may. IMO, be the financial situation of PHE at the moment that is deterring potential investors.
i.e. from Interims - Cash burn approx £193K/month
Available cash approx 253K

Placing and subscription raised 694K
Therefore total cash £ 947K or approx 5 months running costs.

This assumes cash burn rate remains as per Jan - June.

So, IMO, it appears we have July to November covered, but a cash raise could be on the horizon. It appears that PHE's last cash raise wasn't massively discounted, so hopefully the next won't do to much damage to the SP, but it may cause potential investors to be a little wary, just at the moment.

Best of luck with that one - If you don't get any joy with those two, you can always try JJ for further obfuscation.

Adrian:
Just to clarify - Northland were a Nomad but lost their NOMAD status when they merged with SP Angel (who are a NOMAD), so companies who had Northland as their NOMAD are now NOMAD less, but some took up the opportunity to go with SP Angel as their NOMAD, but PSL haven't...... as yet.

I think it makes sense

A very turbulent week for Sound Energy. I must admit after reading the FSC, I was left wondering what the hell is going on here, and have concluded that my confidence in JP and the team is somewhat diminished. Hence, de-risked to the tune of 75%.
TE-10 now feels like a shot in the dark, after the disclosure about the quality/ability to interpret the seismic data, after the 1st phase of seismic was reported of being excellent quality with high S/N ratios, now we learn this is part of the problem, owing to the surface geology.
Feels as though the past 12 months has been a carrot dangling exercise, IMO, re: the promise of staged CPRs, Morocco consolidation (Luca's baby), GSA etc. to keep us hanging on to our Golden Tickets, in the firm belief that the company will deliver, with one or more of the three wells.
£1.50 "gate" has become a life form in itself and to me has yet to be adequately explained, as it appears to be a moving feast. I suspect (with my, now, very cynical head on,) that a £1 or £1.50 per TCF was put out there, so the BBs could generate their own hype and have great fun calculating massive values per share, to keep us invested and entertained.
It could all come good in the long run, but the, now, cringeworthy statements by JP (which we are all familiar), plus I recall a "legacy for the family" statement (was that on the boat do?), are feeling embarrassing.
I feel de-risking has given control back to me, rather than being thrown around on the waves of what the market dictates, (particularly when it is so opaque, it is difficult to read), and will trade the arse out of this to get some or all of my hard earned back.

Back to the seismics - is the single mindedness of JP (and team) to drill 3 wells coming from the fact that the seismic is so dodgy that we couldn't realise the LE, based on on TE5 horst and seismic alone?

On a more light-hearted note, who is glossing over the issues with your Sound Investment to the other half?
" Just a minor problem with the first well and a market over reaction"
" Plenty of time to come good, just wait till we get the GSA"
etc. etc.
Sounds like a PR lesson from JP himself !!!!!

Another company that I am invested in, who had Northland as Nomad has started the process to make SP Angel their new Nomad, when they merged.
Is something preventing PSL doing the same?

Drule:
Place your own comma where you want - you can create two different meanings.

Before this thing grows arms and legs, where is the definitive evidence that Fellrunners interpretation is correct. As everything I've read is open to interpretation and is ambiguous.
Bluboyz: Please post your reply from JJ.

Don't really want to drag this subject on, but I may be able to shed a little light on the possible source of ambiguity, particularly from Rockets post.

Version 1) Hi. The guidance we gave was 1TCF of recoverable gas resources for Sound [COMMA] is worth approx.
£1.50/share.
i.e. For each 2.1 TCF of recoverable gas in the ground, Sound is worth £1.50/share

Version 2) Hi. The guidance we gave was 1TCF of recoverable gas resources [COMMA] for Sound is worth approx.
£1.50/share.
i.e. the 47.5% has already been accounted for in the £1.50 per share calculation.

I know it doesn't solve the issue of which has the actually correct meaning, and version 2) is a little stilted without the use of "each" before 1 TCF, but I think it shows how two meanings can be derived from the same statement.

Been out all day and just read through the FSC - bloody hell, you could feel the tension building particularly from BM.
Did he just pull the plug at the end in exasperation, or was he just about to wish us all a Merry Christmas and Sarah cut him short..................mmmm, I think not.
Some credit to the guys for sticking with the company philosophy of "open" comms, but the openess is getting very clam like IMO.
Fast track the seismic anaysis? Where the hell did that come from after all this waiting and wanting to get it right, and if we analysed it until the cows come home, our conclusions may remain the same.
Hang on... thats playing both ends to the middle, with a fall back excuse if all fails.
Luca has retired........, don't ask again, HE HAS RETIRED, Oh dear, very poor response (Clam closing up).
BM getting increasingly tetchy - You were told at the DEEP DIVE, - only if you could be there.
This is someone who has lost shareholder perspective, IMO, and possibly fearing for his job (only speculating), but his patience was running very thin.
The guys are stressed, because of the results of TE9, no doubt, and with the added millstone to continue with open comms, and with shareholder questions, but that was part of the deal.

JP still positive about the GSA, great all well and good, December hopefully, or could this turn into "Kevin The Carrot".
Things appearing to get a bit twisty/turny now, which will undermine confidence, and JP needs to deliver a significant positive to prevent that confidence falling further.
A lot to think about re: Sound Energy now.

The 8.43 "sell" was actually a buy - hope the mm games didn't convince the subsequent sellers to sell.

It's often said that patience will be rewarded, and I 'm hoping that JP and team fully appreciate the patience that has been shown by the long term holders here.
For 18 months or so, the planned timescales around seismic surveys, drill programme, CPRs, GSA, Luca's overgrown baby etc. have continually slipped, because the company wanted " to get it right".
We, the shareholders have accepted this logic, in the main, with only mild admonishment/questioning at FSC's and have shown patience, whilst the preparatory work has been executed to the best quality possible (apparently), to deliver the best possible result.
However, the first key result was of very poor quality. So, in keeping with the "get it right" philosophy, surely the company should double check all analysis, assumptions, assertions before moving further forward with the existing drill programme.
We have been patient for so long, to try and get the best result, several more weeks delay and some on-cost, would surely be accommodated, to ensure we are best prepared.

Agree with the comments that it would be foolhardy to progress without an open review of what went wrong at TE9, regarding the seismic analysis and interpretation. A DeepDive #2 maybe needed to share BMs original assumptions/understanding and how the results mis-matched, and then how the learnings are to be built in to the remaining drills. Perhaps the more geology familiar could be prioritised as attendees - just a thought.
I do get the impression that JP sets a plan and will see it through, possibly through stubborness, i.e. pursuing with Badile, as that was the reason he joined the company, and now the three drill programme.
Nothing wrong in taking stock and reviewing the approach, though.

Very disappointing result this morning, after months of seismic analysis, and hardly a niff of gas.
Some straight talking required from JP now, no more cloak and dagger stuff - it's all happening in the background approach, and will come good.
The majority of PIs have been giving JP the benefit of the doubt, recently, myself included, and we have been living on hope and expectation that JP will deliver, despite a negative back story (Trading Plan, CIP etc.).
Time to sit in front of the cameras with a good interviewer (not Malcy), and explain exactly and clearly where the company now stands, regarding GSA, Luca's overgrown baby, and how the seismic analysis didn't deliver.
With that, shareholders can then make rational decisions to stay with Sound or go elsewhere, rather than relying on blind faith.

Thats interesting: We can maintain the website for FSCs but TE-10 webcam is still delayed.

Considering the delicate position that Sound are now in re: information and interpretation thereof, I suspect the next RNS will be a bare bones affair i.e. "this has been completed and now we will do this", with minimal accompanying descriptives.
Again, this will put us in the world of ambiguity, with the naysayers possibly seizing an opportunity, but as long as things progress along the company's plan with no obvious negatives, the future could be very bright - so bright " I gotta wear shades"

https://www.youtube.com/watch?v=8qrriKcwvlY

Ahh, so thats what JP has been meaning all along by "Liquidity Event".........L.E. = Lotus Esprit and underwater

"Good Times, Bad Times"

Led Zep Vol 1, Track1

Shpunken:
Yep, I agree, nothing "leaky" about the recent trades. However, over the past few days there have been sequences of rounded sells of 100k, 50k, 25k, which makes me a little suspicious of where those sells are coming from.
They did, however, dry up around yesterday lunchtime, apart from a couple of 50K blips towards close.
Just waiting for the rounded buys to start arriving.... oh, there's one at 8.53.