Member Info for Soundingoff

What is interesting, is that JP's stance re the 12-18 months has changed and it's now 9 months/end of March. This was signposted a while back. I wouldn't argue with anyone who points out the constant timeline slippage, but it's an interesting change nonetheless.

I struggle with the lining up of the drills though. What is stopping you getting everything ready for TE10 once TE9 is underway? We really don't need to be saving a few grand lining up the site prep team from TE9 directly to TE10. Is there anything else I'm missing?

I agree Fellrunner. It's a theory I hold, along with a few others. It's either some sort of agreement with a Major, serious consolidation affecting Sound as a whole (and therefore drilling) or a simple delay to line up all the drilling. For me, the odds on the later grow shorter by the day.

TE10 is a different play from the TE5 horst. If you look on the Q3 presentation, the detailed drilling plan shows the delineation more clearly.

Mushrooms are a good analogy. Perhaps pesky flies caught in a complicated web? IMO the drills are being delayed on purpose, but we'll see eventually.

JP has previously explained the process with new appointments. As was the case with Brian, there is an agreed period between joining the company and becoming a director of the business.

We discussed it in some detail a few days ago. Luca is still working for us. When he finishes he's likely to be doing some consultancy for his brother who set up that business up 10 years or so ago. It's a non-event to be honest.

We've always announced our raises in £. Just a interesting change with the round amount and it being 2.94% rather than 3% which would require disclosure.

I have asked myself that question ajb. Why was it in dollars? It's always been £s before, but not usual I suppose? Though I would have expected most of our opex/running costs are in pounds.

It makes a nice round number I suppose, and by coincidence puts the new shares taken at 2.94% of the issued share capital. No disclosure requirements unless they are already a shareholder. If only they could have given us another £250K, and theyn we'd know who they are...

As you say Joe, it's just an opinion. We all have them and it's good to discuss alternate views.

My view is this 'could' be a huge world resource, and when coupled to the favourable tax regime, onshore setting, political ascendancy of gas, the value per scuff and our geographical positioning, it 'could' be a perfect storm. Based on that I cannot discount those sorts of values on sale.

Brian has already done well for himself before he came to Sound. Does he really need more shares when he has millions already? It's not all about money for some.

'I think we all know now that it won’t be four figures as it’s pockets and not a connected super giant gas field. Be very happy with a fiver!'

Speak for yourself ;) We don't have anywhere near enough information to make that judgement.

I can't see the problem:

JP advises Luca will be leaving in the Summer
Luca has left in the Summer and set up a new enterprise

Fairly straightforward.

We also told around the start of their year that Luca was leaving in the Summer. Let's hope we get to see the fruits of his labour.

No lucky, according to the article Exploration has posted, he is going to be working on depleted hydrocarbon fields. Although the journalism is rather sloppy. It suggests he has set the company up, but it's 12 years old according to the website. It looks like another arm to the business. Good luck to him.

Thanks Crude. Another very useful FSC, with lots of pertinent questions asked.

Finally concrete evidence that we are going to push forward with drilling...

Definitely Jack. I searched for the article but couldn't find it. Have you got a link? Thanks.

That's an good point Del. Our geologists have no doubt there is more recoverable gas on our license, so you would expect a Major to be of the same opinion. What does a Major want to do, pay £X more after a drill or keep that money to finance double digit drills across the licence? It all comes down to confidence.

Indeed. We pay our money to JP and the highly experienced team along with our investment in terms of shares.

I would rather roll the dice IF the value increase is worth it. I believe that I, along with everyone else cannot make that assessment fairly yet though, or maybe ever, as we don't have the information to do so. We can only work on supposition.

We just have to trust our management to enact the right strategy for both the assets and us as the owners of the business.

morocco- I agree with the premise, but my argument would be that maybe we've already done that with the drills so far. We just don't know do we?

It's obvious to anyone with technical knowledge that TE8 was a step too far, but what does the data say. If it shows the gas steps out to say a few miles of TE8 (which I what I believe may have been suggested in the past), there could be a high COS on up to 2 TCF GOIP there rather than the .6 TCF GOIP we have already.

Interesting stuff.