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Afternoon Peeps......!
https://vimeo.com/962228912
All the best (hope the link works..........! :)
Is this your first Moroccan rodeo Chesh? same ole SOU guff of an interview. don't take my word for it (that's subjective by the way, not a fact), just look at the sp. it's -7% today (fact), last traded 0.92p (fact) and less than 10% higher (fact) than where is closed last Friday before the Managem RNS came out (fact). keep huffing and puffing old boy, but the mkt clearly couldn't give 2 fks (part fact - supported by fact not 1 single share traded in the last 35 mins, part subjective view). sou are desperately trying to get the message out via multiple channels, but they don't get it. o&g in a corrupt country doesn't seem a great option for a retail investor, especially not with SOU's notorious timelines. GD suggested deal concludes within 3 months - so applying the CV timecales to that (originally 45 days excl period), it's more likely 18 months I think, all the while Phase 2 can't progress as potential new owner of licence isn't in control - more slippage.
It apears that is you "huffing and puffing" kylie75........! :)
I can't help you with your 60p-80p average locked in holding.........! :(
All the best (sorry.........! :()
Thanks for posting chesh, good interview. I'm wanting to know the timescale for drilling, should find out next Friday.
It does remind me of the Parsons roadshows to entice naive investors in with promises of golden tickets and £1 is not enough (cue whooping from the gherkin crowd ) but these guys aren’t as hard - their hearts aren’t in it as they don’t stand to make millions like the previous BoD . They’ve done pretty well though and have also shafted PIs on their hard earned money. Shame on them and when the wife says over dinner “how did your day go ?” They can say we lost a lot of people money again today. Well done!
It will be good to find out more on the timelines for the forthcoming drilling campaign at the Q&A next week and I think this should really generate some more interest here.
I suppose this will only commence once all CP's on the binding agreement have been fully met and we hear in this interview with Gary this is likely to be a minimum of 3 months or more, but I presume this drill sites can be fully planned and ready to go just prior to execution of the Managem deal.
The de-risking of the business is good and I look forward to the updated new broker note when that arrives but sound will need to have success with the drill bit to really generate significant value in the SP.
GLA investors here
An excellent interview from Garry. 4 very good points
1 Stressed that it is a binding agreement with Managem compared to the non-binding with Calvalley.
2 $12 million paid into the business and a further $24 million in drilling and development carry, non-repayable, equity carry. This is important.
3 Very good deal for Sound shareholders which cements in place funding for phase 2.
4 Sound are carried on 2 excellent drill prospects M5 and SBK-1 which will produce considerable upside potential
Interesting to note that handing over the reigns frees up bandwidth for other ventures which they have been looking at. Hinted something already in the works.
I can honestly say...I will sleep peacefully now..knowing that sound energy will be double treble this time next year...beautiful feeling..
Great interview..
Full of confidence.
John Argent on his linkedin about his role
at Sound energy!
"Additionally, responsible for subsurface evaluations of the Company’s business development activity in Africa, Europe and the Middle East."
"this is likely to be a minimum of 3 months or more, but I presume this drill sites can be fully planned and ready to go just prior to execution of the Managem deal."
Anyone thinking anything is going to be drilled this year is off their rocker. SOU are about to give up their operatorship and Managem have no oil drilling experience. After the months it's going to take to complete the deal, Phase 1 is a year and a half behind schedule. Wouldn't you think they're going to spend a bit of time rescuing the current mess before they start a whole new drilling project?
Totally agree Ps as where does it say Managem has studied the 2d Seismic .I am sure they have looked at it but have they made their decision to start drilling based on it as to look would of cost them, Sound wouldn't just let them study it for nothing so now they have stated they are interested in the binding agreement then I can only assume they will look deeper into it and the last time that happened it took over a year .Nothing is going to happen drill wise this year