The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Oh!!
Apologies Crude... meant 'bought'
Meanwhile back at the positive camp .......
There were 3,481,315 shares brought today, and not a dot were sold.
Splendid :)
Yep, I agree with you.
It a very positive sign in that respect, and like you say its only adjourned for the shortest possible timeline.
A sea of blue on shares purchased today!! :)
(clearly clutching at straws for some positive news here)
Consistent - for sure.
Its now 2 hours after the start time.
Maybe its been adjourned??
"If a quorum is not present within half an hour after the time appointed for the Meeting, the Meeting will be adjourned for: (i) not less than 13 clear days and not more than 42 clear days, and in each case at a place appointed by the Chairman and the Extraordinary Resolution will be considered at such adjourned"
Kylie,
Ok - well that's a good to know you will at least give the company some credit.
Personally, I believe the SP is currently at rock bottom and can's see any further dilution should the vote on the 20th go accordingly to plan (which I think it will).
After that its still a question of signing off on Phase 2 (which again I think will happen)
At that point (which has to be quite soon because they don't exactly have a lot of money in the bank) then back costs will be due from the Calvalley deal to the tune of 8 million.
Should the above milestones occur then you would like to think that a vastly improved sentiment and ( +revenues) would surround the long term future of this company which I believe would be reflected very positively over time from the currently depleted share price.
Admittedly, Sound would still be approximately 2 years away from the big Phase 2 revenues but at least they would be a gas producer and profitable company prior + within that period sound will be fully funded for the TE-4 drill and are likely to carry out further exploration, one of those drills being the M5 structure (more high risk but with huge potential gains)
If the BOD achieve the key steps above then personally I think it will be an amazing turnaround for this company and shareholders will benefit from having about as much security as they possibly ever could whilst investing in a micro-cap oil and gas share.
I do admit to being a glass half full person but we will see over the course of the next few months........maybe even sooner?!!
GLA
Kylie,
Quick question;
Are you likely to cheer up if they approve funding, agree the CP's and sign off the Phase 2 project?
'Options are pretty worthless and no skin in the game but they get paid handsomely every month and for what ?'
Building a company with net profit per annum of 10 million per annum from 2024 and then 70 million per annum from 2026 onwards I guess.
Creating an opportunity (from this profit) to unlock the potential of up to 28tcf of gas might also be another one.
Crazy as it sounds, that takes a little time when you've been handed a complete donkey.
Investing here is optional ....
There is an LNG plant in the making with various components being manufactured and shipped to site as we chat.
All groundwork including massive reinforced foundations have already been constructed for this.
The Phase 1 project is happening and will be producing gas in 2024 to the tune of 10 million dollars per annum.
Phase 2 - is still be agreed/signed off, but sound are pushing forward and with positive news on this bigger project the company will be transformed.
GLA - exciting times ahead
Seems an odd assumption that this company is going to go bust?
I think I will wait for some factual news to land here (hopefully quite soon) before making any assumptions or jumping to any predictions about what the company will be or the what the SP may or may not do.
This BB is a painful to read right now so looking forward to only commenting when some tangible news lands.
Also crossing my digits that one or two others will do the same.
GLA 'investors'
There are only about 11 weeks left of 2023.
It's possible that by Christmas we will receive confirmation of this deal with Calvalley being agreed which would mean we are fully funded for the Phase 2 project with the bonus of a drill programme in place for TE4 which I think would likely happen in 2024.
Regardless of the above, we should expect to be receiving revenues from Phase 1 production in 2024 and with a good forthcoming RNS we may just have more accurate timelines for this actually happening.
If the initial drill at TE-4 were to be successful (I think 36% chance from SE summary) then I think this would give our new partner incentive to back another drill and the share price could really gain traction.
If no success then with this drill bit then we still have Phase 2 revenues to look forward here to in late 25/26 (with the deal across the line)
Most of this would likely materialise or be mapped out in 2024 which would give long suffering shareholders a far more rosy outlook moving forward and plenty of potential to build on the current deflated SP.
GLA
Not much fun on here today...:(
Bring on the sunnier days that await Sound Energy and its investors :)
Regards
GLA
Excellent summary Fernan10.
So I am to understanding correctly that should we receive news of the Calvalley deal being across the line ('this quarter' as Graham mentions in interview this week) and with the collection of the US$ of 8 million back costs collected - Sound would be fully funded for 2024 should Phase 1 production slip to that extent?
St Mary, - I'm similar, but in some ways a mere fledgling by comparison with a meagre 7 years of time on the board.
I keep lowering my get out average in my mind (as expectations reduce), but I would like it to be higher than 2.5p per share to make a shilling or two of profit before I bail. Not my best investment at this stage but will give this two more years and if no marked difference in SP then I'll sell .
I do have faith in GL and the team though, it would just be nice to see this SP elevate to 3p
GLA investors
Personally, I am ok to sit tight (without bleating) for a few more months if Graham can deliver here.
If not, then I will just sell up and move on, but I believe we will all find out in 2023.
I wish all investors well with this share.
FID for the pipeline project requires all funding in place.
Attijariwafa bank will provide the bulk with the debt financing, the remainder ‘equity side’ need to be in place from Calvalley.
FID can be taken after Calvalley closes and Attijariwafa bank is satisfied all CPs are completed.
CPs will include GSA modifications with ONEE, selection of EPC contractor and suitable contract in place.
Some of the above will include Ministerial approvals.
2023 year end is the Sound Energy target date for all this to happen.
Sound Energy will see revenues from LNG in 2024
With Phase 2 approvals in place - pipeline revenues will be seen 24- 30 months after FID.
GLA investors
In last Interview - Graham suggested significant news update for shareholders in Autumn.
Last day of Autumn is 30th November.
Can news be delivered on time and within this timeframe I wonder + I am also wondering and worried what the SP could be by end of this period??!
Transformational news is required here ASAP
I need 2.5p per share just to break even here.
I would like to think we can get back to that + maybe a little more in the next couple of years or so?
GLA - (ignore my bleating's, just very tired of waiting)
GLA - my glass is still half full with this stock