It’s hotting up over in North Africa and I mean literally ‘hotting up’. Sound Energy (LON:SOU) behind the scenes are cock ‘o’ hoop and believe that their Moroccan gas play could deliver near term up to 4 trillion cubic feet of gas (TCF) with a major rerate of their share-price on the horizon. Long term this could end up multipules of 4 TCF. That is to say 10 Trillion Cubic feet+ (plus) which equates to a share price in excess of £10 per share on a net present value (NPV).
News has reached the ‘Danosphere’ that their Nomad has asked the Company to keep a firm grip on news flow and remain as tight lipped as possible. Interest in Sound Energy has been coming in from large financial institutions as well as 2 major oil companies. So much so that the Moroccan Ministry of Resources has placed a gendarme outpost on the direct access, and only road, that leads to the Tendrara drill site/s. That means that the Government of Morocco are all too aware of the Tendrara potential and are moving quietly to protect the National Interest with major oil company’s sniffing around.
Investors should also be aware that sources, and they are proven, believe that the company will be through the salt cap and into the Tagi gas reservoir within the next 7 days. It isn’t a question of rolling the dice for gas at this stage as it is 99% certain that another Gas Discovery will be announced. That discovery will be disclosed to be flowing at significantly higher rates than TE6, on or after clean up. Then it’s on to TE8. Currently there are over 100 employees on site in Morocco. It’s getting busy, very busy.
I’d expect news some where over the next 7-10 days via an ‘RNS drop’ announcing that hydrocarbons i.e. Gas has once again been ‘Discovered’ and that the Tagi gas reservoir has been breached.
In the words of their CEO ‘Jimbo’ Parsons “Tendrara really could be a super giant gas field” .
Hold your stock and await news.