Member Info for Southmead

On the whole a good informative article, confirming President Trump's enormous support for the pipeline project.

The only disappointing comment was that, quote 'Japanese energy companies, including Inpex Corp, the country's largest oil and gas explorer, say they remain unconvinced about the project's viability.'

No reasons for the view are given and it would be very helpful to know why the Japanese companies have formed this opinion. Perhaps a negotiation stance in the face of Trump's tarrif pressure.

It does suggest though that the capital investment will be down to the USA, whilst Japan, Taiwan and South Korea will limit their involvement to long term supply of LNG.

Continued progress at the Tendrara gas development with installation of piping to connect the cold box liquefaction system to the gas stream and LNG storage tank exterior coating nearing completion.  Mana Energy, Sound Energy and ONHYM; working together to deliver Moroccan gas to power the Kingdom’s growing economy.

Of course they are going to get their options sorted out well in advance of any potentially good news.

Consider it as being sharp and aware, both admirable qualities in a management team.

Where self interest is aligned with shareholder interest, this can only be a good thing.

Now lets have the great test results and all benefit

The report concludes.....

'In terms of upcoming catalysts, now that the farm out is closed we expect progression of Phase 2 FEED

work, completion of Phase 1 in Q4 2025, first gas sales from Phase 1 and also Phase 2 FID

both in Q4 2025, and the two exploration wells in Q2/Q3 2025 – a busy overall programme'.

Our total risked NAV is 3.9p, and we have a positive outlook for the shares.

Why all the action today?

What is going on?

Busy this morning.

Will someone please post the report

Graham Lyon, Executive Chairman of Sound Energy, commented:

"Sound Energy is pleased that ManaEnergy has identified and executed improvements in project delivery and project economics. The transition is going well, and we look forward to drilling activities and gas sales later this year."

No mention of a Morocco share listing, but good news all the same.

This would have to be priced in at over £1.50 ps or the board would not be interested, surely

'Negotiations between Ukraine and the United States over access to Ukraine’s natural resources are in their final stages, with "nearly all key details finalized," according to Deputy Prime Minister Olha Stefanishyna on February 24.

According to the Kyiv Independent, Stefanishyna stated that both sides are committed to concluding the deal swiftly, though she did not disclose specific details about its terms'.

Quote, 'SPK-1 in the Tendrara Grande area and M5 in the Anoual block. The wells are part of the deal with MANA Energy, which is funding the drilling operations. Lyon expects at least one of the wells to be drilled by the end of 2025, pending approvals and further developments.'

This is positive, exciting stuff.

Good article, thanks for posting that Ducati.

Lets hope that we start our drilling program soon and start to prove this 20 Trillion CF.

This time next year Sound could be in a very different position Rodney.

China’s position as the world’s biggest source of greenhouse gases, with the country already emitting the equivalent of 15bn tonnes of carbon a year – almost a quarter of the world’s total.

Britain, by contrast, is a climate minnow, emitting around 400m tonnes a year. This is down from 817m in 1990, with Ed Miliband, the Energy Secretary, attempting to drive this number as low as 155m by 2035.China, however, shows no signs of following the UK. Instead, Beijing has put its coal-burning blitz into overdrive, riding roughshod over a pledge in 2021 to “strictly control” its use of the dirtiest fossil fuel. Commodity reporting agency Argus says that in 2024, China’s coal consumption rose by about 6pc to a record 4.9bn tonnes, accounting for 56pc of the world’s global total.

This meant China burnt more than 300m tonnes of extra coal in 2024, which is equivalent to an extra 800m tonnes of carbon. That one-year increase is practically double the 400m tonnes of CO2 that Britain has stripped from its energy system since 1990. Pointless

A great post I-man, very informative and useful feedback.

Was there any mention of the bank approval of the Phase two loan and FID timescale

If anyone has access to the new Zeus report on Sound, could they post the salient points here please

'Last week Zeus attended a site visit to Sound’s Tendrara asset in eastern Morocco. Development work at the site continues apace targeting first LNG production and sales, and were left with a favourable impression of the JV and its contractors’ ongoing execution of the project.'

I particularly liked this bit,,,,

'Tower and its team led by chairman and CEO Jeremy Asher is starting 2025 with two things going for it that most other small-cap oil and gas firms do not – an active, fully-funded well happening this year, and sufficient capital that it can focus on its assets without issuing new shares.'

Cutting and pasting from the Zeus report, just to remind everyone what there is to come.

Patience is required here, we are so close to getting the rewards.

'Forward news flow includes development activity, first production, FID, and new drilling.

The farm out now underpins a material forward work programme for Sound over 2025 and

beyond. The Phase 1 development of Tendrara (via a micro-LNG facility) is already underway,

and we continue to expect first gas exports and revenues for Sound in mid-2025. FID on

Phase 2 (to be developed via a pipeline connection) is targeted for mid-2025, with

development works to follow and first gas in mid-2027. Phase 2 is an order of magnitude

larger - 265bcf of gross sales gas, compared to 39bcf in Phase 1. Based on our modelling,

once Phase 2 is onstream Sound could achieve EBITDA of £17m and free cash flow of £12m

from 2028, significantly underpinned by long-term offtake contracts.

 There is then drilling of the SBK-1 appraisal well (91bcf gross) and M5 exploration well

(560bcf gross), both planned to be drilled in Q2/Q3 2025, providing helpful additional

catalysts in the next 12 months. These would be able to be developed via Tendrara Phase 2

infrastructure on success.'

I agree Fonz, selling will continue all day and Monday will see this share start an inexorable rise to greater levels , just relax, the hard graft is done

Let's hope that we close half way there today .008p, up 100%

This is the really important bit,

'Prime will pay Tower £4.38 million in cash, and commits to invest $15 million in the drilling of the hotly anticipated NJOM-3 well, in Cameroon, this year.'

Success here will launch this share price

Delivery of the power plant generators for the LNG processing facility.