Member Info for mymy

Following on from courtier, I was able to take a few notes. Yes, James was detained on business and only cancelled the day before, which gave little time for LSE to amend slides etc.

Andrew Denham CFO, who stood in for James gave a comprehensive report, obviously only disclosing what he could. He opened by saying that Italy was a stepping stone to SE Asia, which has a strong local Gas Market in both Indonesia and Malaysia. There is however a Gas supply shortfall which places an upward presure on gas prices, which range in the area of $8 - 11.

Coro's aim is to develop existing discoveries with 4 or 5 within their current portfolio. The aim is to Explore, develop and produce, develop existing resources and take advantage of existing infrastructure.

They are looking for a GSA in East Java with production set for 2021/2.

Singapore.. Mako Gas fields. These are shallow and modern technology now make shallow drilling practical without fear of a blow back. Drilling is expected in Q3/4 with a COS of 45%.

That was about it. Very few questions and no chance to speak to Andrew after the event.

The event was filmed and we were told that it will be put up onto the LSE web site, so everyone will have a chance to see it for them selves.

Perhaps to star of the evening was the presentation made by Zac Phillips, an Independent O&G Consultant.

GLA,

Jim

Anyone going to Brewers Hall tomorrow?

I just hope you are right.

Jim

I just hope you are right.

Jiim

carefully over the last couple of weeks, I can't help but feel that there is still some mileage in Sound. Yes, the share price is collapsing and will probably continue to do so.

JP is (I hope) doing his very best to get a good price for Sound and its assets, which would include, Sidi, the Horst and of course all the 3D data. All this has some value greater than current share price, so whether we like it or not, we can do one of two things. Sell up now before it goes any lower and take a loss, or take a chance on a sell of the Company, at a higher price, which for the LTH's will probably make a profit. I know which course of action I will take and like Crude, will look for a top up if it gets much lower....but not just yet as I have HMRC to think of at the end of July.

Joe, I agree with you. It is time for complete honesty from JP and the Board. Perhaps we will learn more at the next FSC...let's hope so. I have been with Sound since the days of Gerry Orbell, so thankfully have a low average in the teens but I must admit, my dreams of a nice secure future are now but distant memories,

Good luck all

Jim

share sold at 15.51 Do any of you, familiar with trading, know if this has a significant meaning?

Jim

PS also managed to average down today to less than 19p per share. After some 8 years on this roller coaster, I am seriously looking forward to the LE.

bye bye

goes my early retirement. Must admit Jez the Fez had it about right. I didn't want to think in his terms but hey ho, that's life. Glad I enjoyed the Gherkin, the Shard and the Boat. At least we have some pleasant memories.

I think I'll park this investment with Echo and Coro for a few months.

Lets hope TE5 and Sidi have some value to a potential buyer, which will help restore some confidence in SOUND Energy.
Off to drown my sorrows,

Jim

ever give up, whilst there is breath in the body. I'm off to Poland for two weeks so will be out of touch.....my choice as I want a complete break but hope and trust that in the meantime we will all be excited by a stonking RNS telling us that there is a commercial unstimulated gas flow at TE10.

Off to pack my bags now. Good luck to all holders whether long term or otherwise.

Jim

Thanks Trellis and so pleased that you are on the mend after your period in hospital.

regards,

Jim

is our 50th wedding anniversary and what a day it could have been with a stonking RNS to say that un-stimulated gas flows were commercial. It would have made our day but hey-ho, there will always be another day!!

gla

Jim

you are a ray of sunshine !!!

Jim

what happened to Fiona. Does anyone know where she went to? She did brilliantly at Rockhopper before she arrived at Echo.

We will just have to be patient and trust that the current BOD get it right and that sales improve to help push up the SP.

GLA

Jim

What do you call a lady who sets fire to her bills?.............................Bernadet.............Booom Booom !

I did make a few notes and later confirmed them with JP, so I have every reason to be optimistic. My notes do not cover everything so I am sure others posters will have more info.
1. TE10 needs 1.5 to 2 M scuffs per day to be economical
2. GSA: 7 - 9 $ valuation. ONEE will take all gas.
JP is not allowed to speculate
It is taking longer than expected
JP will focus on the price
Timing is complex but hopefully soon
Must have GSA before FID
FID is not on the critical path.
JP is confident of a good outcome
Can't give a time line as it is out of his control
JP's plan is NOT to take us to FID
3. SIDI: no hurry. We'll find out in time.

All in all, an interesting get together but didn't learn anything that can be construed as mind blowing.

I am certainly of the opinion that the final SP will be north of £1

GLA. Jim

amy, Sound is certainly a good prospect and well worth serious consideration. My advice for what it is worth, is to wait a day or so , to discover what is said at tomorrow's Get together in London, then by doing your own research and reading up on the many posts that will follow the GTG, then make your decision BUT, only invest what you can afford to loose, in case it all goes tits up. I don't think it will but you must be prepared for that event.

Good luck

Jim

Welcome. Having attended several SOUND events, I too am intrigued as to what we are about to learn. I am sure it is not just to meet and chat over a glass of wine in an effort to gloss over our recent disappointments. I believe in the team and yes, I do read and respect the likes of Crude and Ponkey, to name just two and am convinced when it comes to the LE, that we will walk away showing a good profit, even those who may have joined Sound when the SP was in the 80's

I for one ( plus wife) am looking forward to next Thursday.

Good Luck to all Sounders.

Jim

so I'm back to bed.

It's 9.21am. just two posts so far today and a virtually totally red trading board for last 24 hours. Am I missing something???

Jim