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I had an email earlier off Sarah for the Q&A, not heard of this before.
"Thank you for your questions that came through on our q and a platform. We are asking a few investors whether they would like to record their questions ( via a voice note) that we will then pose to the team. Is this something you would be interested in doing? No issue if not but wanted to ask."
Carzy777......I'm not going to hazard a guess, I cant see anything like the figures you mention, that was based on hype and a super connected gas field, we all know now that's not the case, more like difficult geology, poor permeability with possible pools scattered about. Who knows what's out there on our acreage but I don't see any meaningful exploration for some time. I have an exit price based on what we already have proven up and I believe it's manageable if GL delivers.
The market clearly believed sound didn't have the means to get gas to market and/or we would go insolvent. Now that belief has started to turn, the question is, what value do people put on our assets? There is still some way to go to dispel that notion completely but if GL can restructure the debt and obtain the signatures we have waited an age for, then we will see a completely different level. I disappeared from sound for a while as I thought we wouldn't see much this year, I may have been a tad premature. Long way to go yet but its better than hearing about COVID 24/7.
Is an absolute pittance for our proven reserves. We all know the reasons for it, one hurdle has almost been cleared, get that Bond out of the way and contracts signed then forget about 3, 4, 5p. There wont be any sexy exploration in the short term unless we can bring somebody in to finance it but who cares, there's a lot of running room in this with what we already have.
All well here St Mary, apart from the weather, fortunately I and all friends and family haven't been badly affected by COVID. I see you will be spending another year in the top flight, I just hope the hammers go down.
bigbench, I have been doing the same, picked up over a 1m more in the last few months, didn't really want them but needed to get the average right down. I've no doubt the new board will turn this around, its just going to be slow and steady imo.
jacklevi…..I think once this is all over with and the dust has settled it will become political suicide to run the NHS into the ground. Bed and care rationing is coming, its going to be carnage but can you imagine if it effected everybody in the same way, especially children. We have had a few near misses this last few years with SARS, ebola, MERS and the zika virus, the experts have been warning what could happen yet nothing was done. I suspect everybody is going to know somebody who will be severely effected by this virus in the coming months. Life will go on but not in the same way, peoples views will change. You are nothing without your health. The NHS was on its knees before the outbreak, I know I live across from one, my wife works there and so do many neighbours and friends. Keep safe everyone.
The weather is indeed crap but there is still plenty to do. Sporting events, cinema, library, pub, restaurant, visit friends/family, gym etc etc. Heaven forbid you actually ever found a women who would put up with you but instead of talking about bottled farts, spam and the rest of your childish nonsense you could be out enjoying yourself.
Must dash, off to the pub to watch the football.
I know maths isn't your strong point given you thought you had 2 averages in Sound but I have been here a lot longer. You will find my average daily post count is a lot lower and if only we could se how many words you have typed.
I read somewhere the Chinese produced more pollutants last year than we did throughout our entire industrial revolution which was quite a surprise.
Personally i would love to see a carbon free society, with clean air and water for all. Even Brazil now are chopping down 50 sized football pitches of the Amazon a minute with 700,000 sq kilometers gone since 1970. It can't carry on forever but it won't happen quickly either. Too much money involved and big business and it's lobbyists are all too powerful. At the end of the day fossil fuels won't last forever and nobody wants to see our oceans littered with waste but the timescales and glacial speed at which change happens won't see it happening anytime soon either, whether we like it or not. Doris will promise the world but knows he will be long gone and someone else will be announcing the failings/delays. The last thing on many third world countries minds is reducing their fossil fuel usage. Infrastructure, corruption, war, famine, politics and disease are all way ahead. They will, when it all runs out.
The government has committed to having charging point stations 30 miles apart, throughout the UK. It's a start I suppose but unworkable, they have admitted they can only show the way whilst individuals and industry will have to pay for it. Charging points are simple if you have a driveway. Many live in terraced streets, flats, apartments etc. You can hardly hang an extension lead out of the window and across the pavement. It will cost thousands to have one fitted in the pavement and then some plonker will park in front of it. The cost for infrastructure will be massive. The range is getting better, the new Tesla S can do a reported 400 miles on one charge but how much do they cost? I can't see many countries affording any of this anytime soon.
Petrol cars won't be banned, ever, just new builds. They won't have the rich sending their beloved Ferraris and vintage cars to a scrap yard, they will just make it ludicrously expensive to fill one up.
The long delayed energy white paper that will set out the government's energy strategy towards becoming carbon neutral is supposedly due this quarter. I recently watched a government Minister talking about electricity demand doubling within a decade with a need for much more green energy and renewables. I took that part to be more nuclear, EDF are already building at Hinkley Point and completely had the government's pants down on that deal. Consultations are talking place over two more power stations at Sizewell C and rumour has it the government will relax the rules around funding for new build eg pension and private equity funds. What is certain is they won't be signing off to a strike price of £92.50/MWh again. They will probably start building the small modular reactors that Rolls Royce have developed. Green power alone can't cover the peaks in energy demand, the Californians refer to it as the 'duck' curve. The only way round that domestically is a big battery like the Tesla powerwall. Commercial systems are not economically viable for many industries. They are even opening up new pits in Cumbria and Northumberland to mine for coal, for our own steel industry and to export. Carbon neutral is debatable, people and certain industries like to mention carbon credits which is a completely unregulated con. Planting a couple of trees doesn't off set a private plane journey to the other side of the planet. On the electric car front, it is reported that they will have price parity with deisel/petrol cars within 5 years but I highly doubt it. The big one will be shale gas, there's a shed load of it apparently but much of it runs through the tory heartlands and the locals don't like the traffic, noise and mini earthquakes.
We have to change and we will change and much quicker than most of the developing world but there will always be a market for fossil fuels in our lifetimes.
It's blatantly obvious what TW wants from SAG. He couldn't care less about sound, it's shareholders or the aims of SAG. If he did he would have been in touch with trellis. He wants click bait, a cheap headline and to line his pockets. There is only one nugget on this board who has anything nice to say about that cretin and he can't wait to see sound delisted and all investors out of pocket.
Before I retire to watch EP2 of the Tyson Fury documentary I have to say Jeremy your comments on the ECHO board (another share you are not invested in) yesterday morning after the duster at CLM x-1 were very distasteful. I also see shortly after you contradicted yourself again. You told this board you were going back to work to improve your mental health and that you didn't need the money, not as you said yesterday, that it was down to the lack of LE at sound. You are a compulsive liar.
Chao