Share Name Share Symbol Market Type Share ISIN Share Description
Sound Energy Plc LSE:SOU London Ordinary Share GB00B90XFF12 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.028 -2.01% 1.367 2,045,652 16:35:28
Bid Price Offer Price High Price Low Price Open Price
1.334 1.40 1.458 1.332 1.458
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -11.75 -0.66 18
Last Trade Time Trade Type Trade Size Trade Price Currency
16:06:47 O 30,000 1.38 GBX

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Date Time Title Posts
27/11/202012:11James Parsons578
13/11/202010:12SOUND ENERGY PLC ►►►Focussed on the Mediterranean Area15,512
03/9/202009:00Badile drilling issues?49
23/6/201914:39James Parsons 97

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Sound Energy Daily Update: Sound Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SOU. The last closing price for Sound Energy was 1.40p.
Sound Energy Plc has a 4 week average price of 1.20p and a 12 week average price of 1.13p.
The 1 year high share price is 4.60p while the 1 year low share price is currently 0.80p.
There are currently 1,326,244,389 shares in issue and the average daily traded volume is 1,836,472 shares. The market capitalisation of Sound Energy Plc is £18,129,760.80.
sharewise1: Of course it will happen. This tax thing is a mistake and the share price has not collapsed so the market is confident the issue will be resolved. Also this tax sideshow will not prevent the BOD from carrying on with business as usual so the plan to first gas is unaffected.The comment regarding the drilling campaign is irrelevant as we have gas in the ground already and will soon have the means of selling it and delivering some long awaited income. The share price will of course then recover and we will be sitting pretty ready for phase 2 and the pipeline.
brookemia: Day five in The Court of Public Opinion, where The Crown vs James🤥Pinocchio Parsons, ex-CEO, Ms Sarah Dees-aka The fixer💃 and Marco Fuming Alli. All other defendants have turned Queens, and were aghast at Justice Richard advising the jury that these criminals would face custodial sentences due to the gravity and sustained period they defrauded the Public. Marco Fuming Alli -without his jailed heavies, having been sent down for contempt) is being cross-examined by Mr P.Canna QC. Is it correct you are a “front man” for dubious characters in Italy Mr Fuming Alli asked Mr Canna. I am a legitimate businessman in Italy with big “Family” connections replied Marco, in a voice that would charm the birds from the trees Mr Canna continued, asking the source of the “loans that he had provided Sound” We are family Sir, and we being family men, like to spread the happiness around. Mr Canna asked if there were some illegal aspects to the arrangement secured between him and James🤥Pinocchio Parsons. Fuming Alli replied, that Mr Parsons came well recommended by “The Family“ and Italian loan sharks,-sorry I mean money lenders corrected Marco. Mr Canna continued, asking if these loan arrangements did not seem punitive, to which Marco replied, that they have expensive overheads, Ferrari’s and expensive offices. Mr Canna enquired as to the reason they had closed The Italian Office and relocated to Malta, Marco replied it was for him and Pinocchio to know only, and the little shareholders would not understand. When asked about Pinocchio’s29317; financial pedigree, Marco said he was unaware 🤥 Pinocchio had a dog. The public gallery erupted, and Justice Richard brought the Court to order, and Marco flashed his dentistry once again, resulting in Justice Richard, having to cover his eyes momentarily from the megawatt lightning strike. Composure restored,Mr Canna probed Fuming Alli as to his financial share dealings, suggesting that all was not in order, and was it true he had more Sound shares that he had RNS’d to the authorities, and was he aware that Pinocchio🤥 was advising Investors about their shares being “Golden tickets” worth 4 figures, and more, but selling down his own holdings at the same time. Marco replied, how do you say in English” Pinocchio🤥 has the gift of the gab, and might be a little over enthusiastic. Mr Canna suggested it was morally disgraceful, and that before he was asked to leave because of “dubious”; practices, that Pinocchio🤥- aided by Ms Dees- the fixer💃- had systematically removed al, evidence of this and other incriminating evidence from The Company website, and this must have been approved by BOD members. Marco said he did not understand these things, only loans and it must have been administration errors by The Fixer💃 If it was illegal-he agreed-she should face her punishment🤦‍♂️; Mr Canna asked how Marco could be on the BOD of so many Companies, when it appeared there were insufficient NED’s to ensure regulations were being adhered to, Marco replied that it was Pinocchio’s responsibility, but he was clever dude like that, and he spent a lot of time with The Company Solicitor, who was permanently stationed at Sound HQ. He added it was Pinocchio’s idea, because there was so much going on and that Pinocchio🤥 thought it advisable because too many questions were being asked about the way Sound was looking dodgy. Justice Richards called lunch recess as he remarked that this trial was beginning to look very murky indeed. The case continues.....
noirua: Sound Energy PLC SOU Https:// Investor Presentation: Https:// Directors: Https:// Asset Overview: Https:// Tendrara - Https:// Tendrara seismic: Https:// Sound Energy PLC - Twitter - 13 May 2020 - Reform Team 26 May 2020 - Graham Lyon Executive Chairman, Sound Energy PLC., talks to Doc - Https:// 37 minutes long. 29 June 2020 - Shares leapt in Sound Energy PLC on Monday as it entered exclusivity discussions with a Moroccan conglomerate for the sale of liquefied natural gas from Sound's TE-5 Horst gas development in the Tendrara concession, onshore Morocco. Https:// 1 July 2020 - Sound Energy Says Tendara Talks Continuing; Adds New Director Https:// Https://]3]0]E0WWE$$ALL ------ Marco Fumagalli - Https:// He is on the Board of Directors at Coro Energy Plc, Echo Energy Plc, Sound Energy Plc, Cip Management SA, Ecommerce Outsourcing SRL, Ivy Merchant Capital Ltd., JTC Group Ltd., Merchant Capital Gp Ltd., P101 Sgr SpA, Protea Capital SA, CIP Merchant Capital Ltd. and Merchant Capital Manager Ltd. Https://
brookemia: RE: Maghreb PipelineFri 17:29 The absolute minimum one should expect from a CEO is to be honest and transparent while acting in good faith😇While it is accepted, perhaps even expected that CEOs may give a "politician's answer" to some of the most difficult/sensitive questions, being a tad evasive with the full details, a 🤥CEO James Parsons🤥who routinely says things like "what ever you do, hang on to your golden tickets", "£10 a share just won't cut it", among many other overtly superlative descriptions of the assets, does not qualify as coming anywhere close to those minimum expectations described above in my opinion. Fair enough, if £10 a share was a tad optimistic, if the 🤥CEO🤥; James Parsons🤥 gets a tad carried away, then maybe with honest reflection us shareholders would console ourselves by saying "well, at least we got £5... or even £2 per share.... at least nobody can say they lost money even if the early retirement is no longer an option....etc" - but no, the share price is sitting a little above 1p per share. Practically worthless. Even 🤥JP's㊃7; staunchest defender 🤥CRUDHOPE29317;cannot muster a credible defence of his prior comments, which appear to be either criminally negligent or criminally deceptive, bordering on the type of commentary even Soviet era/North Korean propagandists would blush to write. Inexcusable. But all is not lost. Even in the harshest winter of our discontent, there is a glimmer of hope because the Tendrara asset is still substantial. Had 🤥JP🤥given an honest and transparent assessment of the situation in good faith, which I am tentatively prepared to say GL is providing, the share price would not be sat anywhere near 1p. It almost certainly would never have reached the heights of £1 either of course, but I think GL can make a significant recovery from this point. Unfortunately many holders will never get close to their money back without averaging down substantially, but the current share price suggests the market has lost all faith in this company until some substantive news drops. Genuine best wishes to all holders.
brookemia: sent to, which is Marked-up Fuming-alli Kasjnaton Posts: 142 Price: 1.035 No Opinion RE: Where now for Sound?Today 09:31 If Sound have no immediate or even medium term financial issues what are their concerns with having independant auditors checking and confirming those accounts? If anything it would help restore some confidence in the company and may, heaven forbid, actually cause a small increase in the share price. As you have said the $7.3 M is unaudited, with the board having been very reluctant to answer questions on this subject. There has been failure after failure after failure, the BoD need to do something to restore confidence in Sound to be able to deliver on the plan, relying on hopes and dreams and ignoring cold hard facts is not the way to run a business. ReplyRecommend (2)Report Post Levelup Posts: 577 Price: 1.035 No Opinion RE: Where now for Sound?Today 09:02 The question is if James & Brian have been denied their Ludacris bonus pay offs do we now have more cash to see us through a bit further. As I'm sure Sound still read this board I will make this clear. DO NOT EVEN ATTEMPT TO BLAME THE VIRUS FOR THE DEMISE OF THIS COMPANY. THE BOARD, PAST & PRESENT ARE SOLELY RESPONSIBLE.
brookemia: Another Parsons Success Story🤥ԍ54;🐷🤦;‍♂️;💰 partridge Posts: 1,921 Price: 0.0375 No Opinion Be wary of what is put in front of youSat 10:40 Read the RNS. It has significance for Nuog shareholders. Mr Parsons is struggling to raise placing cash at Ascent Resources. Ascent, like Nuog, is a bombed out oily. Mr Parsons is a director of C4 Energy, the company ruling the roost, or should I say holding the debt, at Nuog. The two new people at Nuog are shareholders in C4 Energy. The same MO will be used at both companies. Raise cash from placing and sell the shares onto mug punters. That's OK as long as the share price is above the placing price. Ascent shareholders have not rushed in to buy. The share price is below the placing price. Get the picture? The placing faltering. Cash is hard to raise. The shares at Ascent have no true value. The same applies to Nuog. Share price below the two recent cash raises. A lack of appetite from placees. Even after yesterdays pump and dump when the doctor was called in. Let the good doctor keep his own medicine. The hype was about disguising the sale of 150,000,000 shares in the morning. Perhaps someone was asked to partake in the next cash raise and didn't like the odds? People want to sell large share holdings and skeddadle. Smell the coffee. The jumpers are going to try very hard to raise the share price. To do that they need to relieve you of your money. Do not let them. Do not be a mug punter.
brookemia: gulagescapee Posts: 73 Price: 2.625 No Opinion coro BBToday 13:59 this from a top poster "patridge" on Coro BB but very relevant here. If the majority of PI's in companies with any links to Parsons think he is a low down scum bag out to line his own pockets and those of his little gang then I couldn't possibly comment lol " The initial £0.4 million consideration for the Disposal, payable by Zenith to the Group on Completion, will be settled through the issue of 6.7 million new Zenith Shares at an effective issue price of 6.0 pence per Zenith Share. Subject to the Italian Portfolio being disposed of achieving average daily production of 100,000 scm over a period of four successive months, a deferred consideration payment of £3.5 million will be made by Zenith to the Group through the issue of new Zenith Shares at an effective issue price equal to a 40% premium to the then prevailing Zenith share price at the time of issue". Why would the initial consideration be settled by the issue of shares at 6p when the share price was about 2p? How is that beneficial to shareholders of Coro? Why is the deferred consideration linked to the Zenith share price? And why is the payment at a 40% premium? How is that beneficial to Coro shareholders? If the production target is not met is there no deferred consideration paid? If the production target is not met do Zenith get the Italian portfolio for 6.7 million shares valued at 6p. Zenith shares are 1.4p today. There was also a 6 month lock in so Coro cannot sell. Is this a good deal? Don't worry. The head of Coro Italy has got a new position. He has gone to Ascent Resources with Mr Parsons. Is Mr Parsons chairman of Coro? I know he is director of C4 Energy. Mr Denham, the Coro CFO, is a shareholder in C4 Energy. He was parachuted into Nuog by C4 Energy. The broker at Nuog is Novum Securities. One of the brokers at Zenith is Novum Securites. Charles Brook Partridge is named at the bottom of the Zenith RNS as one of the partners in Novum. In recent weeks he bought 3% of Nuog shares. Two others did the same. The shares spiked. Charles sold his shares two days later. One of the people buying 3% Nuog shares was Mike Staten. He has a 6%+ stake in RGM. Mr Parsons is executive chairman at RGM in his C4 Energy capacity. RGM have a stake in Curzon. Recently C4 Energy bought the outstanding corporate debt in Curzon. It is a tangled web. Meanwhile, Coro has no assets. It has cash. But it also has £4,000,000 of administration cost a year. Everyone is highly paid and rewarded with options. Why? It is little more than a shell. It can find no place for its cash. No one wants it. Well, at least not in return for tangible assets.
brookemia: HUR JOG UKOG BPC LEK BOIL RBD PANR PXOG CORO SOU ECHO AAOG ZEN BLOE Posted: 02 Feb 2020 03:37 AM PST It’s been a busy week. Hurricane Energy (HUR) issued a trading and operational update and addressed the recent share price weakness, confirming that they are not aware of any subsurface, operational or commercial reasons that would have caused such decline. HUR was in the mid-40s a couple of months ago and now it's more than halved to 21p. Generally, I think that with these type of companies, the best profits are to be had in the exploration/appraisal phase; many tend to plateau or decline once the development/production stage is reached. Also operating in the North Sea, Jersey Oil & Gas (JOG) announced the acquisition of Equinor's 70% interest in Licence P2170. Payment terms are $3 million upon sanctioning by the Oil & Gas Authority of the Field Development Plan, $5 million upon first oil and an undisclosed royalty. This increases total 2C discovered resources across the Greater Buchan Area to 142 million barrels of oil equivalent net to JOG. They will be launching a farm-out process to attract partners, unfortunately the market doesn't appear to be hugely impressed with their news. Back onshore, UK Oil & Gas (UKOG) announced that they are bringing HH-1 into production during Spring 2020, followed by HH-2z upon completion of the current extended well test. This will enable recoverable reserves to be allocated to the project, a key first step to help access debt-based funding. HH-2z water shut-off intervention is to proceed in February. In relation to Loxley-1, the planning application will be heard by Surrey County Council at the end of February and, if approved, the Company plans to commence drilling in the winter of 2020/21. Can they generate enough new investor interest to offset selling by the convertible loan note holders is the issue here. With the largest upcoming drill net to its interest, Bahamas Petroleum Company (BPC) announced its "Roadmap to Drilling" resulting in some market excitement. Drilling is expected to commence in April 2020 targeting P50 recoverable prospective resources of 0.77 billion barrels of oil, with an upside of 1.44 billion barrels. It's not actually financed yet though. I discuss all this further in the private blog and, if you're interested in subscribing to that, the link is hxxps:// Moving on, Lekoil (LEK) announced that its Otakikpo field is currently producing 2,122 barrels of oil per day net to LEK's subsidiary, LOGL. Their expansion project has the potential to increase production on the field up to 8,000 barrels of oil per day net to LOGL, although the subsidiary also carries a term loan debt of $19.2 million at LIBOR + a rather large 10%. The big play at LEK is OPL 310, in respect of which $2 million has to be paid on or before 20 March 2020, $7.6 million has to be paid on or before 2 May 2020 and evidence of their ability to fund 42.86% of the costs and expenses for drilling the first OPL 310 appraisal well has to be provided by July 2020. A financing is certainly coming up and I doubt it will just be debt this time. Baron Oil (BOIL) returned from suspension; its reverse take over of SundaGas has been terminated. They still have an entitlement to an effective 25% interest in the Chuditch Petroleum Sharing Contract, offshore Timor-Leste, providing they reimburse their $500,000 share of costs before 26 April 2020. Perhaps of more immediate interest, an experienced local operator with onshore drilling capability has expressed a desire to drill their Peru block, farming-in by contributing a substantial portion of the costs in return for equity in the block. Drilling this well would be a relatively low-cost operation, estimated at $1.4 million (gross) with two independent reservoir targets which would offer shareholders drilling activity during 2020 and the potential for significant additional value on discovery. They also have a 15% share of the Corallian prospects, but apart from Reabold Resources (RBD) rabbiting on about a huge discovery, I think everyone else accepts that Colter is dead. Currently, I wouldn't pay too much attention to the talk about the Inner Moray Firth licences either. With £346,000 cash as of 31 December 2019, a fundraising clearly now is imminent. Pantheon Resources (PANR), has been issuing some strong announcements, to no end unfortunately since their shares currently are suspended for failing to file their accounts on time. They announced a report the previous week confirming a contingent resource of 76.5 million barrels of recoverable oil and say that their farm-out process remains underway with a number of groups having entered the data room and with a number of others having expressed interest in entering the data room in the future. It doesn’t really sound that promising actually. Of more relevance to investors perhaps, following receipt of the contingent resource statement, which their auditors insisted upon, they’re “targetingR21; publication of the financial results and hope to return to trading this month. This week, they're touting their own management estimates that the new acreage they picked up in the December lease sale could contain in excess of 1 billion barrels of oil in place. It all seems a bit of a waste of time with their shares suspended. For some reason, I find it very hard to take this company seriously. Prospex Oil & Gas (PXOG) announced a placing of 600,000,000 shares at 0.12p to raise £720,000. Two years ago the share price was nearly 0.8p, so you can see the value destruction that has gone on here. Latest wheeze is an old Spanish gas to power project, which sounds quite interesting, until you see that the original "vendors retained the right to 16% of future revenue derived from any further commercial discoveries." That's a 16% royalty on gross production, which is quite something compared to the royalty paid to the actual owner of the gas, the Kingdom of Spain, which is just 3%. PXOG is yet another unfocussed company jumping from here to there and never likely to generate operating profits exceeding administration expenses allowing an actual return to shareholders. I’ve warned about this one and other similar companies before. As investments, they are pointless really. Kind of like burning your money. In the same category, Coro Energy (CORO) announced the termination of the Bulu PSC acquisition. They say it's due to a change in strategy, but I guess that change was forced upon them since they could not raise the finance needed. CORO is one "person" in James Parson's self styled "holy trinity," the others being Sound Energy (SOU) and Echo Energy (ECHO). With credibility now shattered and the share prices collapsed, unless they've already forward sold the shares at a higher price, only an idiot would invest any money. I’ve warned about all three of them constantly.
brookemia: OilmanJim AAOG BLOE SOU UOG RKH TXP UJO RBD SOLO PXOG ECHO Posted: 22 Dec 2019 02:49 AM PST Companies are now saving up their good news for next year, but there were still plenty of interesting announcements last week. Anglo African Oil & Gas (AAOG) CEO, James Berwick, resigned on Monday and the share price now is down to around half a penny. They're only going to "commence a search for a new CEO at the appropriate time” so it’s looking like things are over at this company. It’s a good result for those who paid attention to what I've being saying about Anglo African over the past year and shorted it. Most though were simply very angry with my comments. As Mark Twain said: “It’s easier to fool people than to convince them that they have been fooled.” Another winner for shorts over the last six months is Block Energy (BLOE), which ramped up its share price in anticipation of a placing on the basis that it was producing 1,100 barrels of oil per day and didn’t need a placing. In fact, as I warned numerous times, the production was mainly water and the price collapsed once the truth was admitted by the company. Block announced an operations update on Tuesday in relation to its latest well, but I would guess that having been spoken to very firmly by the regulators, it's taking no chances now, disclosing only that the well is "flowing" and not even mentioning the word “oil” this time. It’s remarkable looking back on this now, how aggressively I was attacked at the time by those peddling the false stories and also by those who wanted to believe them. A third disgrace is Sound Energy (SOU), which I've been calling down from the mid 40s. It announced yet another "keep the lights on" placing on Wednesday, this time at 2p, but it's still capitalised at £26 million, so has plenty of room to fall further, which it may well do since the sale of its assets now sounds very far from certain. A big success for those who shorted it though. A further company attracting controversy is United Oil & Gas (UOG), where some placees who were sitting on losses have gone on a ramp. The claims being made on social media were so excessive that the company was forced on Friday afternoon to issue a RNS disclaiming them and emphasising that sustainable production rates could be significantly lower than the initial test. The group responsible for the statements which prompted the RNS has previously been distributing other misleading information and I would strongly suggest taking the time to read carefully and understand fully all the RNS announcements from United Oil & Gas and Rockhopper Exploration (RKH). On the brighter side for those stuck in at higher levels, if the pump continues to work temporarily, it could provide an opportunity to get their money back. More realistic news from Touchstone Exploration (TXP) which announced strong test results from its COHO-1 well, plus an oil discovery. In the New Year, they're going to comprehensively test the the Cascadura-1ST1 well and, if the findings are positive, it will set up a development drilling program. Still to be resolved though is how this would be funded. Union Jack Oil (UJO) and Reabold Resources (RBD) announced that extended well test operations are to be recommenced following receipt of the required regulatory approvals. The market was not impressed unfortunately and the share prices of both companies dipped, although Union Jack looks to be the firmer of the two now. Solo Oil (SOLO)’s production acquisition is looking uncertain. They’re now trying to renegotiate terms with ONE Dyas to reflect changes since signing, but there are no guarantees that new terms can be agreed and the deal may not proceed. No market changes here though since the shares currently are suspended. Prospex Oil & Gas (PXOG) announced the possible acquisition of a minority stake in a Spanish gas power project. They say they believe their current market cap represents a fraction of Prospex's underlying value, unfortunately, the market probably won’t believe that and the financing for all this is likely to be at an even lower price next time. Echo Energy (ECHO) announced mobilisation of the rig to drill the Campo Limite exploration well, which is due to spud before year end. The operator’s estimated volumes for gross gas initially in place for the Campo Limite area is 48.9 billion cubic feet P50 mid case. Estimated geological chance of success is 70%. Let’s see if luck changes over the New Year for this part of Mr. Parson’s self styled “holy trinity.” I'll be back next Sunday with a full blog and podcast and if you'd like to know my actual trading ideas, then subscribe to the private blog at hxxps:// The next issue will be sent out on Friday. In the meantime, I wish you all a very Merry Christmas. Contact me on Twitter @oilmanjim The author holds one or more investments in one or more of the companies mentioned so this post cannot be viewed as independent research. This post does not constitute investment advice or a recommendation to buy or sell and may be incorrect or outdated
rwells4474: others)TIDMSOURNS Number : 3796SSound Energy PLC06 November 20196 November 2019Sound Energy plc("Sound Energy" or the "Company")Marketing Process Update: Exclusivity AwardSound Energy, the Moroccan focused upstream gas company, is pleased to update investors on the ongoing marketing process in respect of its Eastern Morocco Portfolio.Marketing Process UpdateThe Company announced on 22 May 2019 that, following a decision by its Board to explore monetisation options for the Company's interests in the Tendrara Production Concession, the Greater Tendrara Petroleum Agreement and the Anoual Permits (together the "Eastern Morocco Portfolio") with a view to assessing a sale of the portfolio prior to a final investment decision, the Company had commenced the marketing of the Eastern Morocco Portfolio.The Company has since entered into non-disclosure agreements with 23 companies and, following these, hosted some 15 management presentations which resulted in the Company receiving a number of non-binding offers for its Eastern Morocco Portfolio, delivering a range of valuations and risk / reward profiles.Fundamentally, the Company continues to believe the Tendrara basin requires further exploration drilling to unlock fully the basin potential and to deliver enhanced value to shareholders.As a result, the Company has now entered into a non-binding heads of terms agreement (the "HOT") with, a privately-owned, UK registered company specialising in energy asset development and investment (the "Purchaser"), which will, on completion of the transaction, result in the sale of a substantial proportion of the Company's interest in the Eastern Morocco Portfolio, whilst at the same time allowing it to retain a carried interest that provides the opportunity for Sound Energy and its shareholders to continue to benefit from significant potential upside in the Eastern Morocco Portfolio.Under the terms of the HOT, Sound Energy has granted to the Purchaser an exclusivity period expiring on 14 February 2020, subject to certain milestones being met, to complete due diligence on the Eastern Morocco Portfolio and to finalise a binding sale and purchase agreement for the proposed sale by Sound Energy of 51% (24.2% out of a total of 47.5%) of its share in the Eastern Morocco Portfolio for a total consideration of US$112.8 million, consisting of a US$54.3 million cash consideration payable in tranches and an estimated US$58.5 million carry with respect to Sound Energy's future capital expenditure requirements relating to its retained interest in the Tendrara Production Concession in order to achieve first gas production from the concession (the "Proposed Transaction").On completion of the Proposed Transaction it is anticipated that Sound Energy retains a 23.3% share of the Eastern Morocco Portfolio synthetically through a new joint venture. The Company will also provide the Purchaser with a one-year option to acquire a further 9% of Sound Energy's remaining interest in Eastern Morocco Portfolio on the same proportional financial consideration and carry terms as the Proposed Transaction (the "Option"). Should the Option be exercised, the Company's retained synthetic interest in the Eastern Morocco Portfolio would be reduced to 14.3%.The cash consideration will be payable in three tranches: 55% on completion of the Proposed Transaction (from which the Company will meet transaction expenses and related costs); 30% at the Final Investment Decision (when binding commitments are made to provide the development capital) of the concession; and 15% within 60 days of the delivery of first gas production from the concession. The completion of the Proposed Transaction will be subject to satisfactory completion of due diligence and Purchaser financing.The Proposed Transaction will be subject to Sound Energy shareholder approval at a general meeting of the Company to be convened in due course.Further announcements in relation to the progress of the Proposed Transaction will be made, as appropriate.Simon Davies, the Company's Chairman, commented:"The Proposed Transaction being progressed on an exclusive basis funds development of the Tendrara project, provides early monetisation of a substantial part of our established gas resources and retains upside for our shareholders through both future gas production and further exploration drilling."For further information please contact:
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