Member Info for ps200306

Over four million shares traded yesterday and the SP was down 11%. Graham better say SOMETHING or this will turn into a rout.

A week to go to the six-month mark since the Managem announcement. Somebody punch Graham if the words "sooner rather than later" escape his lips again.

Kylie: "wtf is a company with a £13m mcap involved in building a 2.5yr complex lng project???!!! "

In fairness, what were the options? Plan A was that SOU were going to find loads of gas and sell it to bigger fish who would develop and produce it. When their three-well drilling program was an abject failure, Parsons was still claiming he could "lift the phone and sell the company tomorrow" at some decent fraction of £1 per share. That particular delusion was followed by a multi-year twin track effort to sell/farm out AND/OR raise funds to monetise the assets. When it became clear that the task of raising $300m for a pipeline was gargantuan, the mLNG option was seen as a baby step to keep the company afloat in the mean time. But that too dragged on for years. The cost of all that wasted time has been debt and dilution, and finally a divestment deal (which is not yet even consummated) that leaves SOU with only a small share of the assets. The bottom line is that there have been too many false dawns and now that the sun may actually be rising it's a wan and sickly one. Some credit to SOU management for turning up the various leads, but they have been absolutely rubbish on execution.

Reading over the old tweets ... mLNG plant construction started in March 2022. Looks like the 18-24 month construction time will stretch well over 36. LNG storage tank welding started in March 2024. Inner shell course 3 of 5 under way, suggesting it is no more than half finished. That would put completion in Q3 of next year, incompatible with first LNG in H1. All in all, a typical SOU project timeline.

If Jim Morrison had been from Yorkshire it would have been "nowt so queer as folk".

Managem deal must complete, otherwise it's all over. Phase 1 is worth nothing. Hydrogen and helium is total pie in the sky. Phase 2 FID minimum 6 months away. After that, SOU is locked on to $120m revenue which begins to flow three years from now, worth 4p/share. Other main material event is M5 drill, IF successful AND successfully flow tested which all told is two years away.

That's it: Managem completion, Phase 2 FID, M5 drill. It will take as long as it takes and the news, good or bad, will arrive by RNS. Most everything else on this board is the pointless rantings of delusional cranks who won't go away and will be here till they die.

For the love of sweet jeebus Bunny Man. What sort of perverted pleasure do you get out of your non-stop spamming? Because you're annoying the tits off everyone else.

Just glanced over at the Getech board (our glorious new partner for hydrogen and helium). What a happening place! Not one comment in nearly three weeks since the last time I looked, until some wag put this up yesterday:

"If Getech could make hydrogen from all the tumbleweed blowing through here we’d all be minted! "

Adam: "Back from my holidays...now let's see who's been negative here whilst I have been away.."

Well, we discovered that one of your fellow rampers sold out on the QT months ago, taking a minimum 40% hit (even if we believed his claims about his low average). So there's that.

Trump's plan for Ukraine is to sell them down the river, god help them.

Can we just agree that the entire global endeavour around natural hydrogen is in its infancy. Nobody knows what the potential is but it is currently poorly understood and years away from even being evaluated. Even the USGS doesn't have much of a clue about it. The idea that SOU, along with an even tinier AIM minnow (Getech market cap is £3.6m) are going to be the trailblazers is for the birds. Like I said at the start, this is the nothingest of nothing burgers. Best simply ignored, and hope that SOU doesn't squander too much cash on this boondoggle.

I just don't get it. Natural/white/gold hydrogen seems to be a hot topic at the moment, but it is at a ridiculously early stage of investigation. A bit worrying that John Argent said hydrogen was the most abundant element on earth when it's not even in the top 10 -- not that it matters since free molecular hydrogen is a completely different beast from most terrestrial sources.

They don't seem to even know if the origin of the hydrogen is radiolytic or serpentinisation (or thermogenic cracking of organic material in some cases). As a result nobody has any idea how much of the stuff exists globally ...

https://www.youtube.com/watch?v=HU1ExScjDrQ

There's been a bit of exploration in Australia and the US, but nothing declared commercial let alone brought to production. There's one in Nebraska that they are still hmming and hawwing about several years after discovery. The technology for drilling may be similar to O&G but handling and transporting hydrogen is a different ballgame.

In summary this whole thing is a bunch of different technologies in their infancy. Hard not to agree with kylie that such diversification by a cash-starved AIM minnow like SOU can be nothing more than a distraction from the main task at hand. Frankly, it's the most ridiculous thing to come out of SOU since it declared it was getting into the renewables business. (What happened to THAT, by the way?).

C'mon SOU, get your act together and focus on the main event fer crissake. 😡😡😡

Sounds like a complete nothing burger to me. Hydrogen and helium can occur in the absence of hydrocarbons but I gather that it's pretty rare. Why would we go prospecting for either of them on their own? Took a while to make sense of this slightly weasely wording:

"Sound Energy will contribute to the Agreement with specific regional geoscience knowledge and extensive operational expertise, from our long experience and established in-country capabilities as the largest onshore hydrocarbon exploration permit holder in Morocco, to facilitate any future exploration process."

Of course they will NOT be the country's largest onshore permit holder once they have sold SEME to Managem. They will have to negotiate entirely new permits for hydrogen and helium exploration. What happens if they find them (as is most likely) in association with hydrocarbons? Do they have to hand the discovery over to someone else? None of it makes any sense to me, hopefully someone with a bigger brain has it figured out.

Either way, I hope they don't plan to squander Managem's $12m on some new boondoggle. The way I see it, they need most of that money just for G&A to get them to Phase 2 revenue. One more reason why I don't trust them, even when things seem to be going right.

Tell you what, I'll brighten things up by completely ignoring you henceforth. Starts here. Day 1...

Adam, nobody can stop you spewing complete $h*te on this board every single day, but please don't insult our intelligence that you have some inside knowledge only available to "elite" investors. Back in May you were claiming inside knowledge that the Calvalley deal was on the verge of completion. We were going to be drilling by the end of the year. You claimed all sorts of inside knowledge from a Moroccan investor that you had personal contact with. Everyone knows that the Calvalley deal was on the rocks long, long before it was made official by SOU management. So all the nonsense predictions you were making since the start of this year weren't just WRONG, they CAN'T have been based on anything other than your own delusions.

("News on cavalley is leaking out.WHY? you ask. ... If cavalley weren't interested. They would have left long time ago..question you have to ask yourself is why havent they done that.. Cavalley soon..I can clearly see us doubling from here in next month or so" -- that was you less than a fortnight before we discovered that not only was Calvalley dead, rigor mortis had set in months before. Two weeks later you were predicting 5p by end of year and 10p next year under a whole new deal, and that the next broker analysis would confirm this [it didn't]. You also claimed absolute certainly that the deal would close in "August/September". Here we are nearly in November. Complete $h1te, EVERY. SINGLE. TIME. ).

Let's face it. You're the Trump of this BB. You can't bear not to see your own pathetic bleatings in print every day. It has to be all about YOU. No matter how provably, obviously wrong you are every single time, that's less embarrassing to you than having to ever once put your brain in gear before flapping your lips. You're a delusional narcissist who can't keep his gob in check, and the one time you came to your senses you couldn't keep it zipped for more than a fortnight. Unfortunately nobody can stop you, but you're NOT going to get away with claiming you actually know anything about anything. You prove that wrong every single day.

Adam: "Ps200306..what a negative person...its always doom an gloom with you...if you have invested why are you knocking your own investment. Says everything about you..."

Have another read of my post that you were replying to. Then have a look at the share price. I am trying to explain why the SP is languishing even though we are probably only weeks away from a major transformation in SOU's fortunes. My explanation may be wrong, but at least it is an attempt. What's YOUR version? No wonder you dread the reappearance of kylie on a bad SP day. You've got nothing intelligent to say, no argument to mount. If you just pulled one of the following from a hat twice a week, you could make a parody account indistinguishable from the real you:

* "Good news coming this week"

* "5p by Christmas"

* "News has leaked"

* "The train has left the station"

I think John121983 has it right. Nobody cares about this share. It's not the potential near term 10-bagger of yesteryear. Those who made their ten bags are already long gone with your money. AIM investors are not the long term buy-and-hold type, apart from the poor saps that are trapped here looking for a chance to get out. There's unlikely to be a flood of new money to support a near term spike which is why I wouldn't be surprised to see a very muted response even when the Managem deal closes. Several pence is possible eventually, but could be a long slow burn. Meanwhile any price movement is just statistical noise.

So that seems like 4½ of the 10 CPs that we've been told about are now satisfied. Two others are within the control of SOU and/or Managem and should be formalities (note of no Adverse Change, delivery of Completion Accounts). The remaining ones that need the approval of 3rd parties would seem to be:

* Approvals by ONHYM and the Moroccan Minister of Energy of the Company continuing as the Operator of record of the Tendrara Exploitation Concession, and the Anoual and Grand Tendrara Exploration Permits where required; (Energy Ministry now done, just ONHYM to go, presumably a formality).

* Receipt of the written authorisation of the Foreign Exchange Office (Office des Changes) relating to Managem's payment obligations;

* Approval by Schlumberger in accordance with the terms of Schlumberger's profit-sharing deed in respect of the Concession or Managem negotiating and entering into an agreement with Schlumberger for the cancellation of the profit-sharing deed;

* Extension of the Start Date/Deemed Start Date as defined in the LNG GSA; (presume this is with Afriquia)

Don't know how Schlumberger will pan out but none of the rest sound problematic on the face of it.

Could I persuade you to shut up if I promise you a starring role in SOUND ENERGY -- THE MUSICAL!

"You say I'm negative, I say pragmatic. You say you're positive, I say delusional. Let's call the whole thing off!"

... followed by a tap dance routine on top of a gas pipeline backed by a chorus of tea ladies.

Adam: "What I post are my opinions... My feelings."

Opinions based on reasoned argument from the facts would be more than welcome. Opinions based on your "feelz" ... sorry to break it to you: nobody cares. It's just annoying spam.