Member Info for Soundingoff

With respect, you do seem to be the oracle on Sound and I expect you also have a very low average share price holding so do not feel the pain of those with a holding of a much higher average.

Ian- We used to have plenty of people posting great stuff on this board (negative, neutral and positive), but most have been pushed out by constant posting by morons. I've always kept a mental note of what people have posted and the knowledge imparted prior to TE9 was fantastic, if optimistic at times.

Post TE9/10, my average is much lower than it was. But the SP is still most definitely painful to see, and with hindsight, there are plenty of things that should have been done differently. That doesn't mean it's not possible to post sensibly using research rather than emotion.

And surprisingly, Exploration recently posted a relatively neutral statement on the Horst and surrounding targets.

Ian- You should really be posting the discussions we had on Frank's post, as a number of points are incorrect. The Horst calculation isn't correct and should be based on NPV calcs. The Progressive Report on the Sound website calculates the NPV10 value of the Horst at $350m and includes development costs. A number of variables have changed since such as the TE7 recoverable bcf multiplying by a factor of 3. Added to there there are also additional reserves as per the RNS detailing the CPR. Recent RNS also summarise the estimated size of future targets.

trellis had three years to sell his Sound shares and didn't. He clearly enjoys this little act. Whatever floats your boat I suppose.

It'd be quicker next time round, although how much would depend if the sale process has staggered the release of information and who was interested the second time round. If there was interest but a deal couldn't be reached, I'd imagine dialogue would be kept open whilst we continued drilling.

Interested parties will have been vetted and those taking part have to consider their reputation in future deals. I'm not sure how they would deal with Shell/Repsol and their acreage next door?

I think JP's list is generic on purpose (so as not to guide on shares vs assets vs materiality) rather than a list specific to us.

If a company were to sell a 'material asset' it would need shareholder approval, otherwise it does not. Clearly Eastern Morocco is material to us.

trellis- We do have a GSA offer, so please don't mislead to aid your incessant quest for negativity. Unsurprisingly we haven't converted to a contract because we are trying to sell the company.

Dear me, how the mighty have fallen. Is this what it's come to Exploration, joining in with the playground bullies?

Interestingly, 40% above Peel Hunt's NPV with the additional $30m contingent consideration.

They're A trades seaton, taking shares from the book on L2. Essentially all the trades since lunch were 'buys' i.e. initiated by an order to buy and are often part of automated trading. There were about 175k more sells than buys, but you can never be sure why certain trades are being executed.

I'm afraid the green-eyed monster is a powerful one, table.

Agreed Longwait. It's another one of those situations we are told don't exist by some on here. For better or worse, our real value has not been broadcasted and is only available to those who are part of the marketing process.

'@soundingoff - I'm not really on top of the Solo deal, but aren't they buying producing assets? The North Sea is an extremely mature basin so not really comparable to Tendrara - remember it took us almost 3 months to get a CTU into the country, imagine how long a major onshore gas development will take. Our gas is very much still in the ground and currently stranded until the wells are drilled, processing plants are built, pipeline is built and a GSA signed.'

Indeed they are. However if anyone thinks Morocco would rather take their gas off Algeria than get us gas ready for 2021, they are insane.

'The Horst is actually valued at 19-27p unrisked. 15p for the concession would be an extraordinarily good result from here. The exploration potential worth a few pennies on top, or maybe slightly more in contingent payments. SM worth basically nothing.'

Whos- Anything to say on the recent Solo purchase? Which of course, is another real life transaction that disproves your comments entirely.

Why 'as an accountant' do I need to try and explain that trellis? It has nothing to do with C4 vs Sidi. Can you tell me how much time it has taken to get C4 where it is in relation to NUOG?

If Sidi is going to be separated from Eastern Morocco, then it will be far easier/tax efficient to do so using a ownership vehicle within 'Sound'. NUOG could not achieve that.

I'm not sure why there be any connection between the Sound marketing process and NUOG. Given the fact NUOG isn't a 'clean slate', it's very unlikely in my opinion.

I'm fine thanks, apart from having an internet stalker.

Why would you need to email Sound Jones/Neptunes, it's there in an RNS if you take two minutes to check?

'Following the CIP Distribution, CIP and its affiliates remain interested in a total of 18,675,509 Ordinary Shares, representing 1.84% of the Issued Ordinary Share Capital. Marco Fumagalli, a Director of the Company, is Founding Partner and 25% shareholder of CIP.'