The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Hi guys , just a quick question about funds/cash in the bank etc. I’ve had to switch off from this for a bit just to keep sane, so I have no idea on costs to get micro LPG plant up and running. Do we have enough money to get us to production and first sales. Genuine question from a LTH. Thanks
Dark energy, i dont think i was very clear. I personally would prefer a speedy LE and the chance to GTF out of here. After 10 years i would like to start spending some of my hard earned cash, which would hopefully include some nice profits. However it is a distinct possibility that we wont recieve a suitable bid and therefore have to carry on drilling following some form of cash raise ( the bit that worries more than anything else right now! ) . Hopefully not to be diluted to death once again, like i have in the past. I just hope if this is the course we take the company have some elaborate plan to raise the funds required without mega dilution. Am no expert and would not speculate how they could , although i have my own ideas about that!!
So i would prefer a speedy LE, am guessing like you do, am preperred for the alternative. So for me it is believable that we go down that route, totally depends on or if we get any offers.
Thought i would check in and see what was going on. Jez i can relate to your unease of further drilling to a degree, but success at the drill bit would ultimately improve any sale price. Its the time and waiting for that to happen which is the main drawback for me. But i was of the undertsanding that you was extremely confident of a positive result from TE11. So why is it that further drilling doesnt sit easy with you these days, when TE11 would be the next drill if we carried on with exploration? genuine question
I think that’s a little harsh on BM , especially if they are saying the seismic is poor. Wouldn’t that mean that the company that shot the seismic should shoulder some of the blame. Do we even have a legal case for claiming some money back due to it being so bloody useless!!
Cheshiremog, thanks for your reply. I think I just assumed that if the low case had increased then is it not possible that the mid and high case volumes might of increased slightly?? Wishful thinking more than anything. I understand that the cost of developing the area has decreased due to the improved connectivity etc. Just hoped it might of improved the actual value in relation the volume increase, and no so much the lower capex required to develop it.
Afternoon all. Does anybody know if the Edison report/valuation would of been produced prior to the RNS back in March about the pressure build up and subsequent increase of the minimum GOIP volumes from 40bcf to 115bcf? If so is it possible that the value of The Horst could of now increased!? Below is the RNS I am referring too:
25 March 2019
Sound Energy plc
("Sound Energy" or the "Company")
Tendrara: Update on TE-7 Connected Gas Volume
Sound Energy, the Moroccan focused upstream gas company, is pleased to provide a further update on the TE-7 well reservoir pressure, following the latest retrieval of the pressure gauge data. The measured pressure data provides further information on the extent and quality of the reservoir at TE-7 and provides additional confidence for the development plan of the Company's existing TE-5 Horst discovery, which remains subject to Final Investment Decision.
The latest pressure measurements reveal a current reservoir pressure of 413.4 bara at the TE-7 well location with the pressure continuing to increase towards the original reservoir pressure of 422.6 bara confirmed by the Company on 19 July 2017. The period of pressure monitoring has been extended to observe this continued pressure increase and will continue. The pressure build-up trend is important information as it allows the Company to estimate the connected volume of in place gas ("GOIP") accessible by the TE-7 well.
Analysis of the pressures measured in the well recorded over time has led to an increase in the Company's estimate of connected GOIP around TE-7 to a volume exceeding 115 Bscf. Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected GOIP around TE-7 exceeded 40 Bscf.
The significant increase in the Company's estimates of minimum GOIP connected to the TE-7 well provides support for the Company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery.
Thanks
It’s ok saying that , but a well cant be deemed commercial just because we want it too! They have no control over the outcome of the well and it’s commerciality. I want this as much as anyone else here, but when they set the date for the AGM I don’t think they would know the outcome either way. Your post basically says there will be an RNS and it will be positive , just because they have to face shareholders at that AGM. Wish it was that easy.
Jag I totally get what your saying . My message was not directed at anyone in particular , it was probably more a reminder to myself. I’ve been invested for a very long time and never has the time seemed to go so slow. Especially now we are , I feel, the home straight! It’s ceryainly been a rollercoaster of emotions throughout my time invested , non more so than this latest drill campaign. Good luck
Good luck Bobee I hope news lands for you before your birthday. But if that fails maybe my birthday could be a good back stop/alternative and reward what has been best part of a decade in this share. It’s the day before the AGM!!!!! Surely not!!! GLA
Am just not buying that. The Tendrara production concession is an already agreed area with clear boundaries, don’t think you can just add drills into as and when you. TE10 either falls within that 133Km2 or it doesn’t. From what I can gather TE10 does NOT fall within this area. Therefore the RNS has nothing to do with TE10, it’s merely an update on the already drawn out saga of the GSA. RNS for me is Neutral, but annoying at the same time. Is it another vine to chew on following on from the speculation and debate about the upcoming event!!!
I think some need to look at the facts and info available before jumping to wild conclusions. In my opinion you can’t really negotiate a price for gas not yet discovered, and that includes TE10. According to what we have been told already, we won’t know what they are until late April.
Back to the information available - the RNS clearly mentions the Tendrara production concession . If you read the RNS from 16 Sept 2018 it says this :
Eastern Morocco : Award of Production Concession
Â
Sound Energy, the Morocco focussed upstream gas company, is pleased to announce the award of the production concession relating to the Tendrara gas discovery in Eastern Morocco by the Moroccan Ministry of Energy. Â Â
Â
The production concession award covers an area of 133.5 Km2 and follows an application by the Company and its partners in June 2018. The field development plan underpinning this award includes:
“
So unless TE10 falls into this area, (don’t think it does ), then the GSA is still for the same thing it’s always been and therefore I don’t see what the point of the RNS is. Unless am missing something