Member Info for MikeGP

Sorry,.. for clarification,. that is for Terminal 2.

https://www.ikac.ir/corporate/en/News-and-Media/News/ID/200/Salam-Terminal-will-become-operational-by-the-end-of-the-year

Operational by the end of the year..2019

Maldini... I think so.

1.4Tcf x say 50% recovery= 0.7Tcf to SOU,.. of which we have 47% of Licence= circa 0.35Tcf

... and at circa £1.50/Tcf= circa 52p.

Anybody else?

Sound 1st Qtr Presentation states following flow rates..- post stimulation---Slide 5

https://www.soundenergyplc.com/media/1602/se-ip-q119-v5c.pdf

TE-6 = 17mmscf/d
TE-7 = 32mmscf/d

And for TE-10 to be commercially viable,.. we need only 1.5-2.0mmscf/d?..... even less if the Strat trap is in play.

Doesn't seem like a big ask, given that they have reported natural fractures and similar porosity and permeability to the TE5 Horst.

Vander,

Reports in Iran suggest that their part of the INSTEX, banking system, which forms the SPV is meant to be up and running in the next two weeks,.. before their New Year,.( 21st March). This may have been what the BoD have been waiting for,..? ..or it may be the catalyst for other elements of the contract to fall in to place,. ie insurances etc.,. ( that's just me guessing..)

It should clearly generate some international publicity and it will be interesting to see how the Trumpster reacts. Once it is in place,... his negotiating position will be weaker, IMHO.

Would be nice to see some movement before the end of Q1 on this or the other Contract. About 10 weeks to the Final Results for last year, at the end of May. If there is no news before then we will be pulling our hair out.

Best

https://www.en.eghtesadonline.com/Section-economy-4/28301-uk-envoy-talks-trade-in-tehran

https://www.constructionkenya.com/4222/new-runway-jkia-decades-waiting/

This was it.-- but as I said,.. I don't think it happened.

Did a bit of research on Kenya Airports on Friday and one of the biggies ( can't remember which and don't have notes with me).. secured funding, again from memory,..mid 2017, for construction of a second runway and Terminal buildings,..which I believe had projected pax of circa 6m... BUT,... I don't think work has started yet...

DS---- I suggest you e-mail JP with your questions rather than ask crude? He is generally very good at getting back to investors.

j.parsons@soundenergyplc.com

Hope that helps.

Due to colonial territories of the British East Africa Protectorate and German East Africa, the term East Africa is often (especially in the English language) used to specifically refer to the area now comprising the three countries of Kenya, Tanzania and Uganda.[10][11][12][13] However, this has never been the convention in many other languages, where the term generally had a wider, strictly geographic context and therefore typically included Djibouti, Eritrea, Ethiopia, and Somalia.[14][15][16][17][18][19][20]

https://en.wikipedia.org/wiki/East_Africa

MTP,..

Whilst we wait for the 2018 figures.....the last reported Full Year figure were for period Jan-Dec 17, as per the May 28 Final Results.

"..We have seen steady growth with flight schedules increasing in 2017 and passenger growth across all airlines apart from Air France where their flights are code-shared with KLM. For the full year we had c.111,000 embarking passengers, an increase of 14% on the c.97,000 embarking in 2016...."

2016: 97,000
2017: 111,000
2018: ??????
2019 135,000+?? guestimated

Sort of makes sense,.. 10-15% growth-is year on year.. not too shabby.

Mb

If you believe Wiki... 10 airlines currently using Freetown,... which is pretty much in line with what we thought. KLM stopped flights recently, but others have added. Still no return of operations from BA.

https://en.wikipedia.org/wiki/Lungi_International_Airport#Airlines_and_destinations

Mb,

The company used to give detailed breakdown for annual pax through Freetown, but of late they have been light on detailed figures and just quote overall sales etc., for the 'Managed Services' division. We are thrown a crumb now and again,.. as in the last Trading Statement..."...January passenger numbers for our West Africa airport operations are at record levels ...."--- but no actual numbers!

Hopefully they will come with the Full Year results to be issue 24 May.

Best.

Drule

You can compare SDX with SOU. Two different markets for there gas.

SDX selling in to contract specific local business, for relative small volumes,... which although higher than our guide price,...it is still less than they would be paying for importing LNG.

Our gas will be higher volumes in to, effectively, the 'grid'. ie higher volumes/lower price.

None of us can read anything in to the time period for the discussions.,. there could be many many reasons- these discussions are taking place at the highest levels and involve many parties, making decision that they will have to honour for 5, 10, 15 years?

The RNS, says they are progressing well,.... and we have been told today that whoever is taking the gas has made it explicit that they want ALL of it. That too my mind is very positive,..., and that being made 'explicit' is almost certainly likely to have been a necessary part of the deal that is being agreed. Which why, as I said earlier, I think we are nearing the end game on the GSA.

I don't think that any purchaser will be inciting that it is their name on the deal, although it could of course be the case. If I was going to buy SOU,.. I'd want to know that the deal is done and dusted before I splashed out the cash to buy the company, imagine buying it,.. and then not being able to complete on the GSA,... or more likely,.. should banks and loans be leveraged for the purchase finance,.. who would lend with the GSA being in place?

DS,

Fair points.

I would suggest that when you are involved in a deal of this magnitude involving governmental bodies at the highest level,.. national energy companies,.... etc., you don't shout about what is going on or give a running commentary to you shareholders putting those specifics that you mentioned in to the public domain.

I am sure he regrets mentioning any possible dates etc., who wouldn't?... however the main point that I was trying to make,.. was to remind everyone,.that he has always said that it will take as long as it takes,... and he is more aware than anyone of how important the right result is to us.

Fingers crossed for the higher end of the guidance figures etc.,

There really does seem to be a lot of things going on now, on many diplomatic fronts,... new appointments internally within Iran,... FATFA moving forward .. ( albeit slowly),.. the EU side of the SPV ready,.. just waiting on the Iranian side,.. Banks merging in Iran,,, to make dealings more transparent,... and Trade meetings/visits ongoing....

Yoghurt,

To be fair to JP,... whilst he has given indications of timelines,... which have come and gone,... he has also said, repeatedly and consistently,.. that the GSA is the single most important element to valuing the company for the LE and that it will take as long as it takes.

So whilst we are fed up waiting,... I think JP cannot be judged until the deal is revealed. If he can add 15-30% value to the LE whilst sitting around a table drinking coffee,.. rather than spending millions drilling,.. then let's let him get on with it, in the knowledge that he is has always been a good deal maker..... if not the best at project programming!

Thanks for sharing Ponkey.

.... and why would the Moroccan Minister gas want to make it completely clear that it should include all of the gas produced from the concession,..... ( something that wasn't impact in the previous RNS)... unless, of course,.. the Moroccan government and already has a home for that gas, and they want to ensure that the new buyer doesn't decide that he wants to sell half of it to A N Other at some later date, ie in to Spain etc.,?

That, IMHO, is the point of the e-mail,. and it suggests to me that the negotiations are reaching the end game stage.

If it flows at a similar rate to TE 5-7,... then I think 50p is almost nailed on,.. as it will underscore that whilst it is difficult to find the 'sweet' spots,... they are there and they are commercial. It's simply a question of refining models, seismic, additional survey work etc., and a licence area that big ...it will come.

Whether we move to TE-11 will depend on whether anyone comes forward with an offer that the BoD believe is credible? I suspect that a second success,... will prompt an 'early mover' offer,... but whether it will be enough,..or whether it will then draw out other contenders is anybody's guess.

First of all we need TE-10 to come in,... and so far the indications have all been positive, but , as we all know we have been there before and unfortunately,.. the painful memories of failure have knocked the stuffing to of most PI's confidence,..hence the sp is where it is.

The over-promising on time-scales, etc., by the BoD hasn't helped in that regard.... and IMHO,.. even the recent debacle with the ECHO drill in some way tarnishes our credibility .. even though they are completely different companies.

Well not long now. I truly hoped that we get sort of reward out of this. Dreams of £5/share are long, long gone.......

I can't make the pint in the City,.. but needless to say there will be many who will be looking in here, waiting with baited breath for any feedback,.. so any help in that regard will be much appreciated.

Best to LTH's.