focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
bob
Last speeding ticket was July 16 during testing of TE-6.
Mon, 18th Jul 2016 12:00
RNS Number : 4637E
Following the recent share price increase, Sound Energy, the European / Mediterranean focused upstream gas company, is pleased to update the market on continued positive developments at the Company's Tendrara licence.
The Company continues with rigless operations and, having now secured contact with a significant portion of the net pay, is pleased to announce that it has already achieved a very significant gas flow rate which is in the process of stabilising during the clean up process. The rate is already highly commercial and well above initial expectations. The Company will now finalise the rigless operations and make further announcements, as anticipated, within approximately two weeks time.
Here's hoping for something similar at TE-9 ;-)
Yes, but I don't know why
Also the same on the HL site this am:
SOUND ENERGY PLC (SOU) ORDINARY 1P
Sell:41.20p Buy:41.98p -1.62p (3.86%)
Previous close: 42.00p
I haven't noticed it before this week.
PNE
I think you may well be correct - The "Goldilocks zone" that JP kept referring to.
It does seem now though that a straight LE might not be the most likely outcome, so not be as critical as it was to maximise value?
Soundingoff, thanks for the detailed feedback.
Looking forward to more info at the Technical event in September.
Any mention of when the next FSC might be?
Looking forward to following AM maneuvers this weekend.
Can I order a large ISHLS (in AM colours)?
Thanks all for the detailed replies (as usual). So RNS for AM sail away possibly around 20th - will be an interesting 3 months.
Recent info posted here suggested AM sea trials start this Sat, 11th Aug. Assuming these are completed without major issues, can anyone advise how long they're likely to take and whan AM departure for Rotterdam might be? I'm thinking my FOIL prediction of 27th Oct is still possible, but little margin for any delays. I presume HUR will RNS AM departure to Rotterdam? Any knowledgable feedback appreciated.
BNB, agreed.
Similar thoughts to my post yesterday, but didn't realise the 31st Licencing Round was upon us.
(I did avoid the "rinse and repeat" quote for obvious reasons).
Sound Energy CEO interview 13.09.16:
08:35
(re Tendrara) "The gas gradient, and pressures correlate with all the other wells on the structure (and some of those are a long way away... ...now that and other factors have led us to believe that there is a possibility here of a very large connected structure"
Obviously, we now know that to not be the case, so also throws into doubt JPs later statement:
13:08
"Our 3 strategic plays each have that 3 digit share price potential. To be honest, on Tendrara maybe we need to think about re-framing that to 4 digits (but lets put that to 1 side)."
Personally I would be very happy with 3 quid a share by this time next yr.
My understanding previously, and what I also took from the latest interview:
Dr T would like to farm out the majority of GLA / GWA and keep a small stake - ongoing revenue stream, BUT he might have to sell off the "broader portfolio" in its entirety. This is one of the reasons that the licence areas were put into separate companies.
He'll want to keep hold of the Hurricane name, with its enhanced reputation and small team of staff that will gave gained great knowledge from the last 10 yrs modelling and analysis. Why would he want to start again from zero?
It will be interesting to see when HUR do make a bid for any new licence areas.
Share price is galloping away...
Corporate update Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a 50% - 75% working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas provides the following update. Corporate update Following the recent death of Bobby Gray, the principal of Vision Resources ("Vision"), operator of Pantheon's leases, the Company confirms that operations across its acreage have continued without disruption. Pantheon also confirms that there has been no change to the Company's lease position across Tyler and Polk counties. Jay Cheatham, CEO, has met with the long-standing team at Vision who have confirmed to Pantheon their intention to remain in place and to maintain continuity of operations. Importantly the consulting geologist, Mr Art Berman, who has an intimate knowledge of the Company's projects in Tyler and Polk Counties, will lead the geological efforts going forward. The Company's intention remains to drill the sidetrack of VOBM#1 as soon as practicable, as announced on 5 June, 2018. However, Pantheon recognises the disruption to Vision and understands recent events may potentially impact timing. The Company will update shareholders in due course. The budgeted total cost (on a 100% basis) to drill and complete the planned VOBM#1 sidetrack well is $2.7m (net to Pantheon at 58% WI: $1.6m). Following the outcome of the VOBM#1 sidetrack the Company will make a decision on a possible redrill of the VOBM#5 well. The Company confirms that as of 12 June 2018, cash and prepayments amounted to US$4.6m. Pantheon advises that negotiations are nearing finalisation with the operator of the Tyler County gas processing company. A further update will be provided as and when appropriate. Pantheon also confirms that third party discussions continue in connection with a possible farm-in to Pantheon and Vision's Tyler County, Wilcox and Navarro prospects. Additionally, following the positive findings of Sierra Hamilton's analysis of our Polk County assets, the Board has initiated discussions with external parties for a possible farm-out over a defined portion of one or more forthcoming wells in Polk County. The board believes such a farm out approach to be a sensible one if successfully executed, allowing one or more wells to be drilled, whilst preserving capital. A further update will be provided as and when appropriate. -Ends -
This is also my opinion based on what has been said. I assume HUR will keep a modest percentage after monetisation to provide a reasonable income. I do also think once RR is proved as a concept, Dr T has other targets to go for. Whether he can get his hands on the licences then is a different question (out of round?) To coin a phrase from another popular CEO: "Rinse and repeat"
7am RNS (extract). Further to the announcement of 30 September 2016, in which Circle Oil plc (AIM:COP), the international oil and gas exploration, development and production company, announced that the most recent waiver in relation to the suspension of the December 2015 and June 2016 redetermination and any repayments due under its Reserve Based Lending facility was due to expire, the Company is pleased to announce that International Finance Corporation ("IFC"), a member of the World Bank Group and other syndicate members have agreed to re-instate the waiver until 26 January 2017. The Strategic Review process remains ongoing. The Directors continue to expect there will be no value attributed to Circle equity holders as a result of the Strategic Review process. As noted in the announcement of 30 September 2016, the Company's shares were suspended from trading on the AIM market of the London Stock Exchange ("AIM") on 29 June 2016. In the event the suspension is not lifted, the Company's listing on AIM will be cancelled after six months of suspension, as set out in the AIM Rules for Companies. The Company therefore expect that its listing on AIM will be cancelled with effect from 30 December 2016.
Yes, I think from reading his posts over the months Elland has been topping up frequently so I do feel for him. Ironically I have quite a holding in RKH and there is some speculation on their iii site that they may be interested in some of the assets. I would only be happy at significant discount. Also not sure of their Beach aquisition given the issues with Egypy payments - this has been a major factor in why COP are where they are. The Nov15 TipTV interview with Mitch seems a long time ago; "The interim results for the firm were released around a month ago, and showed a mid-year cash position of $17 million, with assets now profitable and Circle now adding to the cash pile." LOL.
I'm out finally - managed to sell for 0.8p at 08:01 this am. Lost 91% but at least I got a small return to top up elsewhere. For me the message was clear this am - I don't expect shareholders to see any return unfortunately. I don't blame Mitch / Susan, but thought they were brought in too late to have any meaningful effect. The damage was done some time ago. This was my first oil stock and I've learnt much in the last 2 years since buying here. I should have sold months ago and nearly did 2/3 times - I've learnt not to get sentimentally attached to any shares. I have learnt to check out the daily 7am RNS publications though! Anyway, if you're still in, good luck and hope I'm wrong. Bet Sockbuyer is loving this!!
Yes, unfortunately I completely agree. My dilemma is whether to cash in here (at significant loss) and re-invest elsewhere - there are many other potential opportunities around now to recoup my losses as the oil price starts to turn. I'm hoping for news next week to assist in that decision.
Currently $32.07 - up almost $2.50 today. I believe in one of Sockbuyer's deleted 2016 posts, he stated 22nd or 25th Jan as the big date when we'd find out the full implications of the ongoing claims against Circle Oil Maroc . Can't find any info from any Moroccan on-line media outlets today. Hopefully this will be put to bed also next week. Are COP still owed significant back payments from Egypy? - If so, should also be further good news: http://www.egyptoil-gas.com/news/egypts-oil-sector-to-get-200m-loan-from-world-bank/ Here's hoping for a positive RNS next week. GLA.
Agreed. Hopefully the fact he seemed to be getting increasingly upset is a good sign for us.
I presume we'll get a vote result RNS later / 7am tomorrow? I haven't seen anything yet.