Sound Energy Share Discussion Threads

[2figaro] 15/9/2022 14:00

Why should it bother you ?

[inversi0n] 15/9/2022 13:13

Bankruptcy some Moroccan minister will take the assets.

[b33661] 15/9/2022 11:07

I suspect the company will be forced to make a statement soon. No way the 22m usd can be paid now, it's game over rover

[b33661] 15/9/2022 11:02

There we go....0.92p trading, next stop 0p

[b33661] 15/9/2022 10:59

We're going sub 1p very soon by the looks of it....

[allinforabigprofit] 15/9/2022 09:44

The statement from GL, lays out in simple language the company's view this view is supposedly a mirror image of the legislature's written structure. What we haven't seen is the route these "local" officials arrived to claim an amount that does clearly sink Sou?If Sou does holds a winnable case then the no win no fee legal eagles eventual arrive. Check AST they are making significant progress in their dispute.

[kwizza] 15/9/2022 08:58

Commenting, Graham Lyon (Executive Chairman) said:

"The Tax Authority continues to frustrate the Company's progress in Morocco, detracting its efforts away from satisfying the Moroccan need to provide gas to its power stations. One of the attractive features of Morocco from an industry perspective is its investment promoting fiscal code as laid out with the Hydrocarbon Code. This includes a 10-year exemption from corporation tax for upstream producers, as well as clearly defined import duty and VAT exemptions. With Sound Energy deep into its micro-LNG project development and on the cusp of sanctioning a large pipeline development these distractions are jeopardizing their successful undertaking.

[telbap] 15/9/2022 08:40

I would say the government their will keep stick and carrot if sou so they rinse every last cent out of us to develop the site and as much of the infrastructure as possible before delivering the killer blow. Watch the sudden backdown on the debt they say we have now, then more equity raise, pipeline built, LNG plant installed, then wham, 50m tax bill and good night!

[b33661] 15/9/2022 08:25

Fully agree, SOU have done nothing other than make a pigs ear of this opportunity for years. I'd say the locals have had enough now

[hsfinch] 15/9/2022 08:22

My feeling is that the Government of Morocco is doing everything in its power to destroy Sound. Id guess they're planning for one of their own to take over what is a very simple project being complicated by Sound's financing requirements.

[b33661] 15/9/2022 07:25

No need. We have no cash to fulfil the licence commitments and yesterday it was confirmed we owe more on taxes than the company is worth, in relation to a bit of corporate chess that cxnt JP was playing 4-5yrs ago. They can get it all for free in a few short months, probably quicker if you are able to read the panic in GL's comment in the RNS yesterday. There's nothing left here.

[telbap] 15/9/2022 07:07

Maybe the Moroccan government will white knight in for 1.5p per share?

[b33661] 14/9/2022 22:49

0.3p within a week, panic fund raise at 0.55p, that's my expectation for the next week. This share is fkd, and mgt here have shown today that's their view too. Why would they use an RNS as a means of communicating a message to the Moroccan authorities? How irrelevant would you have to be to resort to that? That's wishful thinking on steroids. No, that RNS was them doing their duty to shareholders and more importantly their collective consciences. They can't say they didn't warn you now......no bank is going to provide funding following the RNS today and resulting net assets in this company. We're no longer a going concern, fact.

[b33661] 14/9/2022 22:43

Moroccan puppet masters, they're playing this share, this company. One trip hazard after another. Kick, kick, kick.....there's only going to be one winner here and it's not SOU or its shareholders.

[sheepshagger1] 14/9/2022 22:26

SOU is toast

[b33661] 14/9/2022 22:22

Cash not cask

[b33661] 14/9/2022 22:22

This so much weakens SOU's hand at a critical time of negotiations for phase 2. You want to be in a position of strength by having options, instead we're bent over a Moroccan barrel with no cask and a tax demand that's nearly the entire equity value of the company. There's a lot of stupid, desperate and naive investors in this company.

[b33661] 14/9/2022 21:58

I've been saying that for a long time. The licences are worth a lot. They're not going to sit there and see a bunch of predominantly UK investors gain from that. The wording from GL sounded very very desperate, like he'd given up. If people are honest they'd reread it and think about the last time they'd ever read an RNS like it. SOU are fkd. It's had the feel of this for years, a rancid festering pile of pipe dreams and cash. I thought it would drop more than 50% on that RNS, it will soon. If we can't rely on our local partners to have any influence here, why is that? Because they're are bigger games afoot. One thing I don't get, the company is worth two tenths if fk all, mcap of sub 20m, wouldn't take much to just buy the whole thing. Anyway, money is money, better free than 20m. Mark my words, I've been right about much since first investing here in 2011, smelt the stench and bs before nearly all, this is as bad as all that and worse....

[telbap] 14/9/2022 20:41

I refer to my post 900.....My thoughts are that it is no surprise that once sound had some traction beneath their wheels oops up Pops this BS tax bill. Wheels within wheels. If you are fighting a sovereign body then you are going to loose. Especially when that sovereign body has an oil and gas empire.It's a given the state is going to screw Sound for the licence "legally" They raise the cash for this BS claim, then oops, up another one will pop. Cannot see how it will end well.

[sheepshagger1] 14/9/2022 20:36

only repairable by more massive dilution

who on earth would participate in yet another placing at say 0.5p ?

only mugs

[kirkbymoorside] 14/9/2022 20:13

How is this tax demand calculated ?