Member Info for PoEun

It was good to finish the day at 1.85p considering the huge amount of selling around 1.90p. A fairly even volume of buys vs sales today has hopefully consolidated the share price at this level ready for a move over 2p. There was always going to be a lot of selling as people locked in their 100% rise from recent lows. Hopefully we won’t see any retrace from here and instead there will be another decent rise tomorrow as shareholders digest todays presentation which I thought was really encouraging . The courts verdict must be soon so hold on to those shares!!!

Still looking strong. Personally I'm happy for this to continue this way without any news. Sound has a nasty habit of retracing on any news!!!

That should have read broker review from May 2022!

A significant step up in activity at Sound Energy PLC (AIM:SOU) has set the company up for ‘multiples’ of upside according to stockbroker SP Angel which today issued a ‘buy’ recommendation for the AIM share.

SP Angel’s new price target is pitched at 8.2p per share, signalling significant scope compared to Sound’s current share price of 2.59p (following Tuesday’s 8% rally in London).

The stockbroker, in a note, described Sound as “a low-cost gas developer onshore with strong ESG credentials and a clear route to first gas production and revenues in early 2024.”

“We think Sound’s recent share price strength reflects the market only just waking up to its potential as it enters the execution phase of its Tendrara gas development in Morocco,” SP Angel analyst David Mirzai said.

“Sound currently offers investors an attractive entry point to those seeking exposure to a low-carbon energy play in an emerging setting that benefits from strong gas pricing and domestic demand.”

SP Angel noted that Sound Energy’s first phase development at its 75% owned Tendrara is underway to deliver 40bn cubic feet of gas sales to be converted into LNG and sold to Afriquia Gaz which is responsible for transportation and delivery to downstream customers – phase two will subsequently see the use of the nearby Maghreb-Europe Gas Pipeline (GME), with Sound’s gas taking up capacity following Algeria’s political decision to cease supply into Morocco and on-to Europe.

The broker highlighted that gas sales agreements have been signed for phase two, meanwhile, financing talks are making positive progress, with a final investment decision anticipated in the fourth quarter of this year.

Mirzai added: “In our view, the pace of the development and activity levels over the last 6M have accelerated significantly.

“We think management’s delivery on a monetisation strategy for the gas resources at Tendrara has successfully transitioned the company into the execution phase and well on the pathway to revenue generation. We have updated our financial models for news flow and reiterate our BUY rating and target price of 8.2p per share.”

Looking like the rise is going to continue into this week. Happy days

Nice to have a bit of consolidation at 1.50p ready for the next jump up this afternoon just as long as there isn't more end of week profit taking. It would be nice to go in to next week around 1.70p

Looks like this has got a second wind. 1.40 to buy now.

No surprises in there, but happy to have confirmation of the extensions across the acreage.

Big week coming up. I'm really hoping all the ducks are finally lined up and we start to see the shareprice rerate to a more favourable level and then keep a sustained rise going as everything starts to fall in place over the next 12 months.

I wonder if the large buy is connected to the fact that Sound Energy is featured on the home page of the British Bulls website as a recommended buy. We may see more of an uplift today both in terms of volume and price.
Thanks to all for posting meeting feedback.

Thanks. Ive just received 2 from him. I thought it was strange .

Joe, its standard practice to sell a portion to cover NI and capital gains. It's exactly the same process as what JP did on a number of occasions.

Knowing how cautious BM has been over purchasing shares since he started with Sound, I don't think he would have accepted his remuneration as a shares package if things were not going as planned. he must have some confidence in the future of Company .

But if the deal falls through, we will need the equivalent of Brian to take the exploration and drill programme forward. His departure kind of indicates that those kind of services are no longer important or required as they will be outsourced / farmed out.

Thats a good point

Surely if we get to Friday without a deal being signed then that leaves us open to counter bids now that other bidding Companies know what type of deal Sound management are aiming for. With this in mind, I do expect the deal to be finalised in the next couple of days. But who knows....

looks like a good fit for sure.

Have we got any clue as to who will be buying us other that its a British Company. I was just doing some digging and wondered whether Hutton Energy might be the suitor.

I expect we may well see a positive RNS very soon because the Company have remained very quiet today during this rise. You would normally expect them to release a statement stating whether or not they are aware of any reason behind it. Since none has been forthcoming I am assuming that signing off on the deal is imminent. Not sure but there may have been a board meeting today .....

he sold the shares to cover his capital gains and NI contributions from the shares award. Its all in the RNS