The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Sound I think most people can see that we are progressing well and seem to be in the right place at the right time with the right board. I have no doubt the funding will be agreed it's just a matter of time.
Looking good. 8.2p forecast this year
https://markets.ft.com/data/equities/tearsheet/forecasts?s=SOU:LSE
Ferman to add to your figures Graham stated in his recent interview that phase 2 included funding for a further 4 to 6 wells.
Thanks Ducati. The future could be very rosy indeed. We have the right board at the right time so enjoy the ride.l
Rubber also remember that PS made a 600,000 loss here so her opinions are not likely to be balanced in favour of anything positive.
Here's a fact for you Utility. Keeps post ridiculing PS and calling her a nutter has at this time attracted 18 recommendations. Enough said.
Utility, if you are suggesting that funding issues will threaten the ability of Sound to continue as a going concern then believe that if you want but the test of us in the real world will be concentrating on Graham and the board delivering income from the LNG project and completing phase 2 funding.
The SP will reflect our progress and it's looking better now than when Graham took over.
"In Graham we trust"
PS, there are no funding issues that will threaten Sound as a going concern. This is total scaremongering and to suggest that Graham and the board would expose the company to such a huge threat after prudently putting the company on the road to recovery is totally preposterous. You might not like the fact that the SP is finally increasing and that the company will soon be generating income but it's happening despite your attempts to spread your special brand of doom and gloom which looks more desperate, ridiculous and outdated with each duck that Graham continues to align.
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Home > News Articles > Morocco: Chariot Awarded Exploration Contract for Rissana Gas Field
Morocco: Chariot Awarded Exploration Contract for Rissana Gas Field
Posted March 9, 2022
10:30 am
The Moroccan government has awarded the exploration license for the Rissana Offshore Basin to UK-based multinational independent oil and gas exploration company Chariot.
The license comprises an 8,489 km² basin surrounding Chariot’s existing offshore license, Lixus. According to the terms of the license, Chariot – through a wholly owned subsidiary – will hold a 75% interest while the Office National des Hydrocarbures et des Mines (ONHYM)?will hold a 25% interest.
“We are pleased to formally award Chariot the Rissana license, offshore Morocco,” stated Amina Benkhadra, General Director, ONHYM, adding that, “ONHYM and Chariot recently conducted a highly successful drilling campaign in Morocco, and we hope that we will be able to have similar success on Rissana.”
In 2022, Chariot completed drilling at the Anchois field in the Lixus prospect, revealing sizeable new gas discoveries. Chariot will now proceed with conducting a 2D seismic survey in its new exploration license as a first step to exploring the potentially gas rich Rissana basin.
“As we demonstrated with our recent successful drilling campaign at Anchois, this is a highly prospective basin and, along with the Lixus Offshore Licence, the award of Rissana ensures that we have captured the exploration upsides in this exciting play. In parallel with the development plans on the Anchois gas field, we aim to maximise value from the exploration upsides in what we believe is a low risk and high value opportunity,” stated Adonis Pouroulis, the Acting CEO of Chariot.
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Sundance of course Graham walks on water. Look at what he was left with and against the odds he has steered us to a position where we have a great chance for success. The Tax issue was not Graham's fault but in my opinion the authorities are highly unlikely to be over zealous in their judgements given the message that would send out to other companies willing to invest in Morocco. There is not a lot that Graham has done wrong since taking over the reins and his track record would indicate that he is more than capable of completing the job.
Sotolo although a 650% rise seems a long way off, don't forget this share can easily double in a day due to our low MCAP so a sustained rise over a few months would easily achieve this.
Hopefully this will keep building as Graham aligns more of his magic ducks.
Keep also remember that the 120klm trench that the pipe sits in could accommodate a few more pipelines if further expansion is required.
Yes he tends to do that. He can't resist a free lunch for sure
Perhaps I'll buy Malky lunch and he can explain how it works over the 3 courses
The 50p per trillion estimate is not SOU specific and has been applied to many companies sitting on such reserves.
The 50p per trillion estimate is from Malky. Before you start rolling on the floor Malky has used this estimate for years and has has frequently used it in blogs both written an filmed and this has never been challenged. I have also seen other commentators use this yardstick so there must be some basis as a general assumption.
I'm not really interested in what people think we might or might not be presently worth. I'm just looking forward as our situation improves and the SP begins to reflect this.
PS I have to disagree. The rule of thumb is that for every trillion cubic foot of gas roughly adds 50p to the share price so we would not need the full trillion to achieve 30p. As I have previously stated it is a pointless exercise trying to work out a current valuation as there are too many changing variables in play. What I do know however is that the SP will carry on increasing as more of the magic ducks line up.
I'm sure even the most sceptical posters can agree that Graham and the board are well on their way of transforming our fortunes. It's pointless speculating what the company is worth at present because the situation is still developing and there are too many factors in play to even get close to an accurate figure. What I do like and have faith in is that the board clearly have a plan that is coming together piece by piece. As more of these pieces fall into place then the SP will reflect this and some investors now have a realistic chance of getting something back which looked less likely 2 years ago.
Pimp you must remember that SOU has secured permission for a 50 mtr wide corridor for the whole 120 kilometer length of the pipeline. I'm sure that several pipelines could be accommodated in this space so it's also future proof if expansion is required.