Superb performance today.

StockMarketWire.com
Sound Energy said the second Tendrara well has now been drilled successfully through the salt cap to the second casing point at a measured vertical depth ("MVD") of 2,203 metres and that the 9 5/8" casing is now being set and cemented at the top of the Triassic Lower Salt formation.

It will now proceed to drill towards the third and final casing point, directly above the reservoir.

Lol any signs of oil covered penguins being washed up in the Med yet ?

:-)

Now don't be a silly Dilly. The rumour is that some refugees were spotted cooking on gas on a Moroccan beach! :}

Lol

Any Sounders going to Shares Live today come and say hi. I'm hosting main stage all day.

Mike

Hello, some old faces congregating here :)

Done alright out of SOU generally, even spotted the breakout from its 16p ceiling on 1st July while watching tennis at Wimbledon (all hail the iphone 6S). Sadly sold at 21p! But, traded in and out since taking bits and pieces in the 30s to 50s and held a decent slug between 63p and 76p. Currently not holding.

The compensation is that I have held a large lump of HUR (some for over two years but a lot bought in the doldrums so average 23p) and yesterday made it all worthwhile vindicating the faith! I was at the AGM in June where Dr Trice, the CEO, was 100% confident of success. I like that man.

Hopefully one day we can have a drink a la old times. Not sure I can do Edinburgh though.

Cheers chaps.
Bones

Bones. Long time since we last chatted really pleased about HUR. Are you still writing poker articles and news?

Really good meeting so many shareholders of Sound and other companies today at our Show, all from various Bulletin Boards. The most passionate were the Sound holders! Seems like many are losing a lot of sleep through sheer excitement and can't wait for weekends to be over:-)

Overall investors seemed pretty positive short term as were the fund managers there. From the Sound holders there was that buzz I have not seen since the dot com buzz of 1999, memories of calluna, infobank, tadpole, dialadog !!!

Hello Bones. :-))



Proactive Investor - It seems any piece of news, however seemingly anodyne, has the potential to propel higher the share price of Sound Energy PLC (LON:SOU).

A case in point was a seemingly routine announcement earlier Thursday that its second well in Morocco drilled through the salt cap to the second casing point.

As far as oil sector announcements are concerned, that is about as boring as it comes.

The net result of the update? Well, a further 4% increase in the share price, which since the start of July has rocketed from 16.5p to almost 80p.

Hi Mike, hope all is well at MAM towers. Most of my share trades/investments are held via ISA/SIPP at AJ Bell YouInvest which must be a good thing, no?! Also spreadbetting on IG.

I finished with the poker lot in 2012 (where does time go?) after the owner sold out to a more ruthless bunch of operators where corporate tactics took over. I then had a year off (including getting to see all of the olympics on TV and had a necessary operation to fix a heart valve). New lease of life!

Since 2013, been in two different jobs as financial controller. Bit boring overall so am now aiming to drift back into trading on a more serious basis going forward.

I'll keep an eye out for other MAM/Shares gatherings. I expect to have a little more free time as the year closes so may try to attend something for a pint with the in-crowd!

Hello Dreamcatcher!

Hi Bones. Glad to hear all is well in your world. Long time since we all used to get together.

Hi Bones
Good to see you back.

M

Cheers men! I never really went away though :)

SOU continues to defy gravity. It is never too expensive to buy....

Nose bleed time:-)

Had cold feet, closed a T20 deal, a bit of cash, free shares so can't complain. SP now free to shoot to £10! 😀

Thanks KimO it can only go one way now:-)

😀

Not for widows and orphans. DYOR.

I have been watching Petromaroc for some time and over the last couple of trading sessions been buying their stock, spread is a killer though. Last trade I did was 350,000 at CAN$0.0299. I have used TD Direct as you can buy international stocks in an ISA!

Why!

As Sound are committed by a binding agreement to ‘give them’ 21,258,008 shares with a current value of CAN$ 29,605,466 (£17,006,000) there seemed a disconnect between Petromarocs market cap of CAN$2,630,598 (£1,511,000) and possible value.

It’s a bit of a basket case with debt, interest and debentures (due end of Sept) CAN$ 14,000,000

But post completion of the Sound deal it will have:

CAN$ 29,605,466 (£17,006,000) of Sound shares

CAN$ 1,800,000 of Sidi Moktar guarantees returned

A 10% net profit interest in any future cash flows from the Kechoula structure within the Sidi Moktar Licences; and a 5% net profit interest in any future cash flows from structures within the Sidi Moktar Licences other than the Kechoula structure.

A 22.5% working ineterst in Zag (14,632 sq kms) other parties are San Leon 52.5% and ONHYM. Directly east of the Zag basin is the Algerian Reggane basin, where Repsol announced a 800 billion cubic foot discovery.

It will need to sell some Sound shares to put it back on a strong financial footing but as Sound’s share value keeps increasing then they will need to sell less and less and in fact they end up being an investor in Sound.

What about OAPs?
Eeking out a humble existence on benefits and Sainsburys basic range.

Being lured into dodgy shares by fat cat city types with no conscience for the little punter.

Lol!😀