Member Info for Southmead

Thats nothing, :)
I have climbed Kilimanjaro, cycled the length of the nile river from Cairo to Aswan, done the Lands End to John o'groats ride, cycled from Mombasa to Lake Victoria and loads more, but now I just like to read the LSE Sound Blog :)

Graham says that he has received 'acceptable term sheets' from local banks and that those same banks are carrying out their due dilligence in the 'data room'. To me, that means that the banks are very interested in providing Phase 2 finance and provided they are reassurred by Sound's investment case in Tendrara, finance is assured. No doubt some of that reassurance will come from the Moroccan government. The same process that will generate Phase 2 finance, will also provide finance for the drilling that Graham has spoken of.

Graham says that Sound are 'pushing at an open door'.
'Everybody wants our gas and the Moroccan government are 'on our backs' to make Tendrara happen'
These are very encouraging and positive words from the Chairman and no doubt go a long way to explaining the dramatic rise in SP this past week.
'Acceptable' Term sheets have already been received from local banks to provide the funding for Phase 2, This is really good stuff and hopefully something that can be announced quite soon. The appointment of a lead bank that can put together a consortium of lenders will be a key achievement for Sound. Maybe very soon.

I am invested in Sound Energy and the Sound management team, headed by Graham.
I made the decision to invest long ago based on the story of revenues from our Phase 1 microLNG development and for the large-scale Phase 2 development.
I am now delighted to see the plan coming together and the recent Operational and Strategic Report contained some good positive confirmation that management is in control and progressing matters.
Picking the 'positives' out of the Annual Report, because I am invested!
1. The Company has won the support of its longer-term bond holders to the staged development of the business, which has put the Company in a stronger financial position.
2. Afriquia Gaz supports Sound with an US$18 million loan from for development of the Tendrara Concession and has also invested £2 million in Sound shares.
3. Sound are now proceeding with site preparation for Phase 1 gas processing and liquefaction facilities.

For me, these are very important positives in the Sound story and as an investor, I am encouraged and excited at for the near term future for Sound Energy.
No doubt Graham and his Team will face further challenges and maybe some set backs over the next few months, but I am confident that they will produce the results and delver their plan.

Sounds Operational and Strategic Update dated Thursday 14th April, stated that it had re-evaluated the extensive exploration portfolio within the Greater Tendrara and Anoual exploration permits surrounding the Tendrara Production Concession.
'These targets include the exploration prospect 'M5' located on the Anoual permits, together with the potential of the structures previously drilled on the Greater Tendrara permits, SBK-1 and TE-4. Both SBK-1 and TE-4, drilled in 2000 and 2006 respectively, encountered gas shows in the TAGI reservoir. SBK-1 flowed gas to surface during testing in 2000 at a peak rate of 4.41 mmscf/d post acidification, but was not tested with mechanical stimulation. Mechanical stimulation has proven to be a key technology to commercially unlock the potential of the TAGI gas reservoir in the TE-5 Horst gas accumulation and accordingly the Company believes this offers potential to unlock commerciality elsewhere in the basin'.
On Wednesday 13th April, a day before Sounds Operational and Strategic Update, Amina Benkhadra, the DG of ONHYM pointed out that Sound Energy will drill 5 wells in Anoual, Grand Tendrara and Sid L'Moukhtar.
It seems to me that ONYHM either know more about Sound's plans than was contained in the O and S report or they are confusing previous drill analysis with intended drills. It may also be a question of clarification about re-drilling and stimulating some of the earlier drills SBK-1 and TE-4. Some clarification from Sound would appear to be needed.

A very interesting agenda for the next few months.
Would anyone care to put a few prospective dates alongside each milestone?
'Over the next 6 months, the following milestones are scheduled:
- Completion of site access road improvements;
- Placement of purchase orders for and execute flow assurance, flowlines and owners engineering scopes;
- Execution of TE-6 and TE-7 wellhead inspection and servicing;
- Flowline and associated equipment procurement process to commence; and
- Italfluid will undertake the following:
o Complete Preliminary Engineering and progress Detailed Design
o Place remaining purchase orders for equipment/packages and bulks
o Complete site preparation and commence civils (foundations) works

Are there any Chartists amongst us who would share a view on the recent share price trends?

I am so very disillusioned with this share, I cannot describe to you how let down I feel.
I have been invested for ages, and at times I have been full of hope and faith that one day it will come good.
But!!!!
This long painful decline just continues day after day after day, no matter what drills they do or gas they deliver.
SDX management do not care, it seems.
Time for change, please.

'There is little doubt now about quite how much has been achieved by Graham Lyon and his team at Sound, in the world of Covid in 2021 much was actually done. The ground has been broken at Tendrara for the micro LNG project and the phase 2 pipeline project is seemingly following hot on its heels.

Sound has turned itself round from being an explorer to a development company, in addition, I am sure that 2022 will have a lot of activity all supporting the growth of the company. Accordingly Sound deserves a rerating in the market place as I’m sure that this is only the start for ‘new Sound’. "

https://*********************/companies/uk/sdx-energy-plc/research/bnp-paribas-exane-sponsored-research/resetting-expectations-post-trading-update/74_569451

All doom and gloom here

Kath sounds like a very exciting addition to the Sound team.
I was impressed by her performance in the video interview and I am looking forward to hearing more about the Phase 1 Project planning and process.
Kath's Linkedin profile shows as:-
'I am an experienced Project Manager, with a proven track record in managing and delivering all stages of global oil and gas development projects for operating companies, engineering contractors and oil and gas consultancies. I understand the business motivations and objectives that define development strategies and project execution plans across the full lifecycle. I am practised in the use of project delivery stage gate processes to reduce risk and ensure delivery against company objectives, and the application of project framing and value engineering workshops, risk, safety, environmental and constructability reviews to ensure the best project outcome. I am adept at building and leading high performing multi-cultural, cross-discipline project teams, including international alliances, contractors, vendors, regulatory authorities and partners, and driving quality, integrity and safety excellence across a wide spectrum of engineering and construction projects to deliver return on investment. I am skilled in cultivating and managing internal and external stakeholder relationships to safeguard successful project delivery. I have overseas experience gained in Russia, Denmark and Spain on both long-term and short-term assignments.

During my career, I have combined a strong technical background with a delivery and solution focused approach and expertise in leading, integrating and motivating project teams to drive successful project outcomes. Notable accomplishments include:

- Led the $150 million delivery of the greenfield scope of a major expansion of the South Arne platform offshore Denmark through full project lifecycle, overseeing engineering, procurement and construction stages of 2 wellhead platforms from concept to sailaway and supporting installation through to start-up.
- Oversaw the $60 million brownfield expansion of an existing onshore processing facility in Chad to increase capacity and accommodate a new field tie-in, supervising from concept selection through FEED and detailed design, procurement and construction.
- Led the front-end project execution for a potential $1 billion deep-water FPSO for the DWT/CTP Area Development offshore Ghana, executing feasibility, concept selection and pre-FEED in preparation for FEED design competition.'

Malcy now says,
'This is incredibly good news from Sound and a real credit to Executive Chairman Graham Lyon, COO Mohammed Seghiri and team, who would have thought that Tendrara would come to fruition and in such good time. It is also good news for Morocco which should not be taken for granted as they are gas short and this will be seen as a pathway for energy transition and along with other UK companies Sound are increasingly respected by ONHYM.

Sound shares should now shed the baggage and with an exciting future in front of them in a number of areas and could see significant growth that has only just started at around 2p. Plenty more to come from Sound now that this project has finally, and profitably got under way. '

'Sound has discovered 650 billion cubic feet (18.4 billion cubic metres) of gas at TE-5 Horst, in eastern Morocco'

In 2 years time, just imagine how much that amount of gas will be worth.
I see no reason for the market to change its direction, shortage of supply and higher prices are here to stay.

Is this share price ever going to stop falling?
Screammmmmm

This share has become so very depressing for me as a long term holder.
I have lost a mint and it looks like I will lose a lot more if I stay in.
I am absolutely at my wits end with the management team.

There must be a large sell order sitting in the background for this SP to be going down.

What the hell does this mean?
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

Now stop Soundasapound, you are just encouraging me to make more extremely foolish remarks about the 4.65% blue day on Friday too. :)

Oh dear, another extremely foolish 4.8% blue day :)

It is just really disappointing that one of our biggest shareholders has lost faith and is selling shares in small amounts.
Presumably Highclere are trying to sell off their entire holding to someone but there are no takers and so they are trading out at rock-bottom prices.
The shocker is that Highclere obviously have a close connection with the board of SDX and must have lost faith with them to take this action.
I guess that there will be more selling to come from that quarter.