Sound Energy Share Discussion Threads

[lowflow] 08/6/2017 08:13

Rockhopper announced today that they are selling its non-core Italian assets and they have to pay Northern, to get out of these Italian assets, even thou they generated EUR 0.7m operating profit last year, ouch.
I wonder if Sound's Italian assets also carry a negative value (excluding Badile in the case of a success).

"In consideration, Rockhopper will make a cash payment to Northern at completion of US$1.6 million."

From the RNS:

"The transaction is structured as the sale of Rockhopper Civita Limited ("Rockhopper Civita"), a subsidiary company which at completion will hold all of the Petroleum Licences being disposed.
Under the terms of the transaction, Northern will assume all future abandonment and decommissioning liabilities associated with the Petroleum Licences. In consideration, Rockhopper will make a cash payment to Northern at completion of US$1.6 million.

Following completion of the transaction, which is expected by year end 2017 and is subject to standard regulatory approvals in Italy, Rockhopper's interests in Italy will be focused on the producing Guendalina gas field and the Serra San Bernado exploration permit (which contains the Monte Grosso exploration prospect).

The previously announced international arbitration against the Republic of Italy in relation to the Ombrina Mare project is unaffected by this transaction.

"For the year to 31 December 2016, the Civita gas field produced approximately 130 barrels of oil equivalent per day."

"Revenue and gross profit associated with the Petroleum Licences for the 12 months to 31 December 2016 was €1.1 million and €0.7 million respectively. "

[hpotter] 08/6/2017 07:58

steelwatch,
re. civils,
My guess, and its just pure speculation on my part, is that the new civils are a foundation for something unexpectedly needed that has some weight. As its in line between the rig and the ground flare location (next to the mud pits according to the drawings) I'd guess on a liquid/gas separator. If so lets hope the liquids are hydrocarbons not water. Going one step further I could make a case for the change of mud in the past few days to ensure the well was killed before doing the work and then moving on to testing.

[1westham] 07/6/2017 16:10

Steel

Sometimes certain people on this bb really know how to steam my clams.

[steelwatch] 07/6/2017 14:17

They were doing some civils (pumping concrete) in an area away from the Badile rig in the latest webcam post. Just wondering why they would be doing that if the well failed?

[ngms27] 07/6/2017 13:35

If Badile fails which is the most likely outcome statistically I'd like to see the P&A RNS state that SOU are closing the Italian Office immediately and making all the staff redundant. There really wouldn't be any logical reason to stay in the nightmare that is Italy.

The wage bill for SOU is disproportionately high for a Company with little proven resource and income.

[kevjames] 07/6/2017 12:47

Still low volumes and declining share price. There was a guy on the LSE SOU board who claims to have made "lots" trading this between 65p and 85p - so maybe he will be buying big again soon! I think I will wait for the news before any further buy/sell decisions - news should be within the next few days on both Badile and Sidi Moktar.

[oldvic] 07/6/2017 10:28

just been stuck for hours in a lift with Abbott and Corbyn
she count work out the floor number and he wouldnt press the button

[buffythebuffoon] 07/6/2017 08:35

Well said 1Westham.

Buffy

[chelwood01] 07/6/2017 07:54

Seems to me and others bad news may be approaching the share price is struggling to make an ounce of headway all recent news has been fairly negative , this does not look good , if badile is yet another negative this will bomb out , I certainly wouldn't want to be an holder in these uncertain times .The marching band is on stand by Anne are very keen to start the March as yet we don't know wether it will be the 50/40/30 marching band but this will happen soon enough .C01

[davidzz] 07/6/2017 07:12

If you do the calculations you will see the final depth date after 8 June So allow time to check around etc it's after this weekend when we may expect news

[steelwatch] 06/6/2017 22:35

You have to laugh. Badile early result expected later this month and Sidi first re-entry too. Toys out of the pram and this too ffs:

[buffythebuffoon] 06/6/2017 18:59

I just woke from a catnap. Weird I know, but as I woke I had the thought in my head that Mary will be the new CFO at Echo. I say weird, because I hadn't been thinking about Echo, nor Mary, nor do I much care.

Buffy

[kevjames] 06/6/2017 10:53

Big drop on low volumes and no official news. Can't see it been Badile related,no notification of final casing point yet. I guess all will be revealed soon.

[legin3] 06/6/2017 10:47

88e is taking off

[johnmcd51] 06/6/2017 10:07

Well you could just sell now if that is what you think, then buy another share and use that board instead of this one, it would be less stressful for you.

[chelwood01] 06/6/2017 09:40

RS4 , ther resident tool didn't cost people lots of money by shouting from the rooftops what a great deal yell was and in your words was a no brainier , let's hope you don't do the same with sound .You really are lacking upstairs aren't you west ham , put it down to genes , are you all thick in your family .C01

[billynotsilly] 06/6/2017 09:28

We need some news J.P

[ride daice] 05/6/2017 12:17

Webcam 3rd June POOH ?

[1westham] 05/6/2017 09:25

Wonder what the resident tool thinks of that Steel after he puts the bands musical instruments back in the shed, hopefully for good.