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Sound Energy Share Price - SOU

Share Name Share Symbol Market Type Share ISIN Share Description
Sound Oil LSE:SOU London Ordinary Share GB00B90XFF12 ORD 1P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.13 +0.89% 14.13 13.75 14.50 14.13 14.13 14.13 682,704 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
Oil & Gas Producers 1.0 -4.9 -1.4 - 71.18

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eelbuoy: Apologies for the long post . Sound Oil PLC Strombone Funding RNS Number : 6114E Sound Oil PLC 01 June 2012  1 June 2012 Sound Oil plc ("Sound Oil" or "the Company") Strombone Funding Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that it is in advanced discussions with an established oil and gas fund to finance appraisal drilling on the Strombone field, in the Torrente Alvo permit, onshore Italy. The Strombone discovery has been the subject of a Competent Persons Report undertaken by Fugro Robertson which confirmed a P50 best estimate of contingent oil resources (2C) at Strombone of 6.4 MMbo with a NPV10 success case of US$131.0 million. The appraisal drilling is scheduled for the end of 2012. Whilst still subject to contract and due diligence, the funding would be provided through a US$6 million unsecured loan, extendable to US$9 million by mutual consent. The loan is not repayable should there be no production from the licence and will entitle the fund to a percentage of the gross revenues from the licence in the success case. Final terms will be announced following contract signature. Very confident of a successful outcome with an unsecured loan of $6m with possible extra $3m by mutual consent . Sound Oil PLC Funding Update RNS Number : 6860H Sound Oil PLC 16 July 2012 The placement involves the Company issuing 774,341,464 new ordinary shares of 0.1 pence each immediately in exchange for 7,143,300 redeemable subscription notes at a par value of £1 per note. The notes are unsecured and non interest bearing. They will be redeemed in seven equal amounts for a cash consideration at the end of seven separate trading periods, commencing 25th July 2012 and finishing in February 2013. The cash consideration for the redemption of the notes is calculated as the arithmetic average of the 20 trading day volume weighted average price ("VWAP") for each of the seven periods. In summary the Company will therefore issue a fixed number of shares for a variable consideration (the VWAP for the next seven months). The placement also involves the cancellation of all (217,552,682) existing warrants previously issued by the Company. No new warrants are being issued in association with this placement. Whilst the precise amount raised will depend on future share price trends, the placement would raise approximately six million pounds (after fees and transaction costs which reflect the warrant cancellation) should the share price remain constant. Various protection clauses have been agreed as part of the placement, including a "no shorting" provision, a cap on Astin investors owning more than 29.9 per cent of the Company's share capital and a floor price. The floor price is variable, being determined by Sound at the beginning of each settlement period and enabling the Company to elect to roll forward the settlement of those days below the floor price to an extraordinary settlement period at the end of the seven months. The settlement during the extraordinary settlement period is the 40 days VWAP of that period. Application will be made for the new ordinary shares to be admitted to trading on AIM and this is expected to become effective on 20 July 2012. Following the issue of the new shares, the Company will have 2,870,128,815 ordinary shares in issue with each share carrying the right to one vote. There are no shares held in treasury. The total number of voting rights in the Company is therefore 2,870,128,815 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules. Friday 07 September, 2012 Sound Oil PLC Holding(s) in Company RNS Number : 8180L Sound Oil PLC 07 September 2012  7 September 2012 Sound Oil plc ("Sound Oil" or "the Company") Holding in Company Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that it was notified on 6 September 2012 that Manxdale Holdings Limited ("Manxdale", a fund connected with Astin Capital Management Limited ("Astin")) is interested in 650,000,000 ordinary shares of 0.1p each in the Company (representing 22.65% of the Company's issued ordinary shares) of which 553,101,045 are currently held in escrow (pursuant to the private placement through Astin announced on 16 July 2012) and 96,898,955 are held by Manxdale. 21 September 2012 Sound Oil plc ("Sound Oil" or "the Company") Holding in Company Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that it was notified on 21 September 2012 that Manxdale Holdings Limited ("Manxdale", a fund connected with Astin Capital Management Limited ("Astin")) is interested in 595,000,000 ordinary shares of 0.1p each in the Company (representing 20.73% of the Company's issued ordinary shares) of which 442,480,837 are currently held in escrow (pursuant to the private placement through Astin announced on 16 July 2012) and 152,519,163 are held by Manxdale. 2 October 2012 Sound Oil plc ("Sound Oil" or "the Company") Holding in Company Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that it was notified on 2 October 2012 that Manxdale Holdings Limited ("Manxdale", a fund connected with Astin Capital Management Limited ("Astin")) has reduced its interest from 595,000,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") to 525,000,000 Ordinary Shares (representing 18.29% of the Company's issued ordinary shares) of which 442,480,837 are currently held in escrow (pursuant to the private placement through Astin announced on 16 July 2012) and 82,519,163 are held by Manxdale. 1 November 2012 Sound Oil plc ("Sound Oil" or "the Company") Holding in Company Sound Oil, the Italian focused upstream oil and gas company, was notified today that as of 31 October 2012, Manxdale Holdings Limited ("Manxdale", a fund connected with Astin Capital Management Limited ("Astin")) is interested in 391,860,628 ordinary shares of 0.1p each in the Company (representing 13.65% of the Company's issued ordinary shares) of which 331,860,628 are currently held in escrow (pursuant to the private placement through Astin announced on 16 July 2012) and 60,000,000 are held by Manxdale. As you can see started with 3/4's of a billion shares being issued. November saw 170 odd million shifted. Investors are happy to buy , the healthy volume in the last few months shows us this. Now is this all P.I.?s or is there an Institutional Interest other than Mr Al Fayed ? will we get any other holding RNS's ? Where is Astin going to stop ? And do not forget there is a 40 day extraordinary settlement period in case insufficient shares have been sold , which at these volumes look unlikely. And then there is an open offer to the likes of us to the tune of a £1m. The transaction involves Sound Oil selling its 20% working interest in the PSC to Pan Orient Energy (Citarum) PTE Limited ("POE"), the operator. In consideration for the working interest, POE have committed to Sound Oil to: waive a total of US$2.4 million of cash calls; pay Sound Oil US$10 million in cash contingent on revenues from the first discovery; and pay Sound Oil a further US$6 million in cash contingent on revenues from the second discovery. It does look like JP has played quite a good hand here ; cut the spends in Indo whilst retaining upside exposure , got CSTI to fund 50% of the Rapagnano and Nervasa operations , Unsecured interest free loan of $6m with a poss extra $3m to fund Strombone, (Which doesn't have to be paid if there is no production !!!) JP does seem to have made some tough calls and keep SOU in a financially strong position in the face of adversity. 20 November 2012 Sound Oil plc ("Sound Oil" or "the Company") Funding Update Sound Oil, the Italian focused upstream oil and gas company is pleased to provide a funding update ahead of forthcoming drilling operations at Rapagnano and Nervesa. The Company confirms that the third and fourth tranches of the share placement announced on 16 July 2012 have now been settled, generating a total of £2.0 million (at monthly VWAPs of 0.870 pence and 1.141 pence per share). The Company's current cash balance, following receipt of the fourth tranche payment of US$1.8 million which is due today, will be US$6.2 million, with no debt. The remaining three tranches of the placement, assuming current share price levels, are expected to raise a further £3.5 million (US$5.5 million). In addition the open offer expected to be made to shareholders in March 2013 following the conclusion of the placement should generate up to a further £1 million (US$ 1.6 million). The estimated total remaining expenditure across Nervesa and Rapagnano is some US$2.4 million (US$1.8 million on Nervesa and US$0.6 million on Rapagnano). Both operations therefore remain easily funded from the current cash balance. Site operations at Rapagnano begin this week (10th) with well deliverability Confirmed by the 19th. A day before my birthday . Here we go chaps , nearly a producer. let the buying commence. Shymas is on holiday so we are bound to go up ;)
mikemichael2: SOU - Sound Oil plc - SOU chelwood01 - 19 Nov 2011 - 09:30:12 - 17610 of 24662 just going through my private stats this morning and looking at works schedules . i do have numereous tel conversations with go and while not being priviledge to insider information , i am aware of certain factors which have certainly motavated me to keep adding , i am putting a ceiling on my holding at 10m which will be my largist holding in any one company . i sincerly believe that sou will come very good and a conservative estimate assuming they achieve 60% of explorations is 12p by the end of 2012 , i am sure many of you will scoff at this figure but only time will tell . sou potential spudding agenda is massive and there are still numerous opportunities being offered and i am sure go will be aware of the best bargains available , but its a balanceing act between new discoverys , cash flow and projected spudding costs , so many of you may think that there is to much dilotion of the shares , i personally feel you need to look ahead and see the potential , without it we will remain a small aim oil and gas company , with it the skys the limit. dealing in my business life with many ceos , i am very impressed with go and his vision for sound and sure that his drive and business accrument will deliver . i for one will certainly stay the course with sound , i would hate to be out of this one . have agood weekend all soulers. c01 --------------------------------------------------------- SOU - Sound Oil plc - SOU chelwood01 - 20 Jan 2012 - 18:48:01 - 19403 of 24662 i sold all of my sou in november after the annoucement of further dilution , and i said at the time this could easily hit 1p or less with indifferant news from the first spud , news should be available in the coming week if not and the news is indifferant i would expect it will be held back until further news is due which could be more positive . my other worry was rab selling balance of holding . i believe that a large percentage of holders are disgruntled and will sell at the earliest opportunity which i feel will depress any gains that may happen since selling my holding the sou price has dropped by a further 10% and lgo where i reinvested a large percentage of proceeds has risen by 20% and should go much further . i truely wish all sou holders good fortune , but never fall in love with a share . c01 Bitter and Twisted After heavy losses.
steelwatch: Sound Oil puts its finances on a sound footing as it secures cornerstone investor and farm-in partner for Nervesa 01 May 2014 by Our OilBarrel Staff Sound Oil has had a strong couple of weeks. Not only has the AIM-quoted E&P land a cornerstone institutional investor, injecting £14 million of capital, but it has also signed a farm-out for its Nervesa project in Italy's Po Valley, which it has long said could be a potential company-maker. Shares in the company are currently above 7 pence, a solid bounce higher than the lows of 4.5 pence seen earlier this year. The farm-out has been signed with Niche Group, the energy investing group which plans to apply for admission to AIM later this year. Niche will acquire a 27.5 per cent interest in the onshore Carita licence in exchange for paying 100 per cent of the costs of a second well targeting the southern part of the Nervesa structure. The 6 million well is due to spud before mid-year. Sound's CEO James Parsons said this 3.6 to1 farm-out would fully fund the next well to help the company move Nervesa towards first gas without dipping into the new cash pot of £14 million. Those funds, said Parsons, an ex-Shell executive, would be preserved for the company's "world class" Badile prospect, where it is also seeking a farm-in partner, and its material Laura discovery. Neresa, the flagship asset in the portfolio, is a material gas discovery, first drilled by Eni in 1985. Sound Oil successfully followed up in summer 2013, flow testing the well at 2.7 million cf/d from multiple sandstones and increasing the P50 recoverable resource estimate from 21 BCF to 24 BCF, and is now keen to probe the southern limb of the structure. It hopes to bring the field onstream next year and says the cashflows will be "material", around 18 million a year from three wells. The Nervesa farm-out came just days after £25 million market cap Sound announced an agreement with Continental Investment Partners to inject £14 million of funds at an average price, post warrant exercise, of nine pence per share (a 69 per cent premium to the prior day closing share price). The new investor will have the right to nominate two non-executive directors to the Board. One of these is already known: Continental's managing partner, Marco Fumagalli, a former group partner at 3i. These two deals put Sound on a much stronger financial footing as it begins to chase down some of the larger assets in its portfolio. The company already enjoys production and cashflow from the small (1.2 BCF) Rapagnano gas field in the Marche region, which last year produced 15 per cent above budget at rates of 340,000 cf/d, bringing in around 900,000 a year, and which will shortly be joined by a second onshore gas field, Casa Tiberi, where civil works are now underway. Sound reckons cash flows from both fields will completely fund its cost base in Italy. Now the £14 million funding injection from Continental will give it the financial muscle to advance more material projects with the resource potential to really move the needle for the company. Badile is the largest and most strategic asset in the portfolio, with the potential to hold 178 BCFe and could be work 486 million to Sound on an NPV10 best estimate basis. It is scheduled for drilling in Q42014-Q1 2015 at a dry hole cost of more than 22 million, a real step change in cost and exposure for Sound. But one of the real strengths of Sound is the breadth of its portfolio, which means it is never over-exposed to the result from any single well. Next year will see an appraisal well in the onshore SMG permit, which could host 18 BCF of gas, as well as the 30 BCF Laura discovery in the Gulf of Taranto, which will be drilled using a long reach deviated well from onshore. There's also the Zibido prospect, a 16 million barrel target, in the Po Valley of northern Italy. Importantly, the company has also demonstrated its ability to get things done, with projects moving up the value chain at a pace that, in Italian terms, is almost break-neck. While many investors have despaired at AIM companies that sit for years on acreage for which they cannot get permits or approvals, Sound has managed to bring one field into production, has another in development and a series of major exploration and appraisal projects lined up for drilling in the next 18 months. And it now has the cash to press the accelerator - it could be an interesting year ahead. http://oilbarrel.com/news/sound-oil-puts-its-finances-on-a-sound-footing-as-it-secures-cornerstone-investor-and-farm-in-partner-for-nervesa
langster: Broker Cantor Fitzgerald initiates coverage of Sound Oil (SOU) with a BUY rating. Says Sound Oil (soon to be Sound Energy) is an oil and gas exploration and production company, with assets in Italy and Morocco. It is diversifying its portfolio to develop a greater Mediterranean, gas-led strategy. Production is currently 100% gas and as such has been largely sheltered from recent oil price weakness. It has a full work programme over the next few years including high impact exploration. The company has outperformed its peers since the beginning of the year, but despite recent price moves we believe that Sound still represents compelling value at its current share price. Price target 30p.
steelwatch: Doesn't cover everything said in the call: Sound Oil delivered first of four 'game changing' wells, says CEO Parsons By Jamie Ashcroft September 06 2013, 2:00pm Sound Oil (LON:SOU) chief executive James Parsons says the successful delivery of the Nervesa appraisal well was a great result, even if the market's response was cooler. Wednesday's long anticipated news that Nervesa can flow gas at commercial rates was a significant milestone for the AIM quoted oil business and a major step towards management's aspirations of turning Sound into a 'mid-cap player'. "[It] was a great result and it reflects a critical inflection point for the company," Parsons said on a call with investors. "The board and I promised four 'game changing' wells and the first has delivered, even slightly above expectations." As a cash generating 'foundation asset' Nervesa is at the core of the strategic plan Parsons and his team put in place when they took control of the company last year. While it was clearly a watershed moment for Sound, some investors apparently saw it as an opportunity to take profits following the share's ascent from around 7.5p in May. Parsons, however, doesn't intend to get distracted by daily movements of the share price. "I see so many CEO's complaining about their share prices, and our approach is slightly different," he said. "We're going to keep doing the right things for our business and we believe the share price will sort itself out. "Of course, it does feel like a bit of a kick in the teeth when the market doesn't respond to good news but we all know the profit-taking reality of retail stocks. "The truth is, the short term share price doesn't not affect our prospects and what we are doing here, my team are committed to keep growing the business and delivering [towards] our end game and I am confident that we will see that reflected in our valuation as we deliver our strategy." Parsons explains Nervesa is a key part of that strategy because it delivers US$25mln of annual free cash flow starting in 2015 and debt capacity as well as creating a tradable asset of scale that could, at least, be partially sold. Perhaps more significantly, however, is the affect the project has on Sound Oil's credibility, he says. "Within 10 months we've taken Sound Oil from [being] pre-revenue to producing, from 'upside potential' to near term cashflows and from talking and promising to drilling and delivering." "Our business will benefit from Nervesa as a foundation producing asset for many years to come." The field development is expected to comprise of three wells, with the first of the two additional wells being drilled early in the year. The second Nervesa well will assess the southern part of the structure, which was drilled by ENI in the past. And as a near vertical well it will be more straightforward and cheaper than the first appraisal well. Sound aims to establish production of around 8mln cubic metres per day with a fifteen year field life. Depending on the results of the second well, Sound says a third well may not be necessary. To finance the development Sound intends to secure a reserve base loan and, Parsons explains, that the bridging loan it agreed to earlier this week is vital in achieving this - as it allows the company a better financial position to negotiate terms. Gripes about the short-term loan, which carries 10% interest and a 9% fee, could at least partially explain the dour performance of the stock when the well test results and the loan details were revealed together on Wednesday. Despite the misgivings of some investors, Parsons believes the loan is both positive and necessary. "We can draw-down in stages and we'll only pay fees and coupons for the amount we use. "It provides headroom to create some really competitive pressure on the RBL process which will give us a lot more money and returns than the incremental cost of the bridge loan. "Right now we have 7mln cash in the bank without drawing any funds from the loan. "The loan is, from my perspective, a smart forward looking move. Yes it is expensive funding, but it is small in absolute numbers in the context of what we are doing and it provides headroom at a critical point." Parsons also points out that the loan is asset backed and therefore avoids equity dilution, which he says remains a priority for the company. The intention, Parsons adds, is for 1mln to be drawn in the short term and that the bridge loan will be repaid once the RBL is in place. Talks over the RBL are ongoing and have been in the works for some time, and the banks currently have to carry out a full analysis of the Nervesa test results. http://www.proactiveinvestors.co.uk/companies/news/60826/sound-oil-delivered-first-of-four-game-changing-wells-says-ceo-parsons-60826.html
steelwatch: Sound Oil- A smart move Sound yesterday followed its results with the announcement of a raise of £12m via equity and warrants. I will discuss this in more detail after the company holds its conference call but with exciting plans for growth via acquisition of assets and a strategic partnership too and a decent rise in the share price this move seems eminently sensible. Continental have clearly found European institutions prepared to follow them in and this confidence in the company and the management is extremely encouraging. The plan to become a mid cap Mediterranean oil and gas business is very much under way and a good deal more can be expected. The share price came back slightly towards the placing price but interestingly stayed above it and shareholders can participate in the open offer which is also available to them. The funding has been done at a 3 1/2 year high for the share price, at modest dilution for a company that has doubled its reserves and leaves the company with £28m in the bank with which to carry out its plans for growth. http://us7.campaign-archive2.com/?u=4b5aaf1e56ff28c6b6add1eef&id=8c32e2168e&e=da84da7f6f
intercurrent: Loads of sells that were going through as buys, I bought and it showed up as a sell. Clear manipulation to boost the share price after launch of the company's new name. MM games got to keep the PIs interested somehow. For all the potential newcomers to Sound, its a brilliant time to get in while the share price is so low with plenty of upside and one of the top shares on aim to make some money in up too and into 2016/17.
chelwood01: how dissapointing sound is after all the hype presentations around the globe and still the share price fails to deliver , or lets put it right sound fails to deliver , or better still what have they delivered , very little certainly nothing to warrant a 70m mar cap , up to now just hot air and the constant ramping from steelwatch aka the webcam kid . c01
maurillac: no. what id like to celebrate is the huge uplift in the sou share price .. maybe 25-30p m
peterz: Steel I am happy for incentives to get people to do what they are paid to do - if it helps share price. The price that 'options' are set at is important for number of reasons other than the obvious - a payment without financial investment or risk. The options price could indicate to other real investors / City where the company expects the price to be in a reasonable time frame. The higher the better!! I Do take your point about Directors putting money into the coffers though. My £16k investment/risk in SOU is presently 34% down. I am one of the guys that has left the money in the company rather than dump years ago when the company was struggling, there will be many of us deserving some payback for money actually invested. We don't get a salary from the company. But who knows perhaps a dividend at some point in the future.

Sound Energy Most Recent Trade

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O 94,290 14.30 27 Nov 2015 16:19:09 GBX

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