Sound Energy investors can start looking forward to new exploration catalysts
Seismic exploration equipment has arrived in Morocco ahead of the group's next programmes to follow up the success at the Tendrara field
Company
LON:SOU
Sound Energy PLC is a transition energy focused business. The company's Micro LNG project aims to bring much-needed gas supply to Morocco, reducing the reliance on imported LPG, and playing an important role in the transition to lower carbon energy sources. Gas is also planned to be sold to local power stations via pipeline links, and surplus gas may be sold into the Greater Middle East, displacing the reliance on coal.
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Seismic exploration equipment has arrived in Morocco ahead of the group's next programmes to follow up the success at the Tendrara field
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Kosmos is coming to London, BP reported interim results, and Providence had some disappointing exploration results.
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Some of the day's headlines on the Proactive Investors newswire
It comes after the group agreed a deal to acquire exploration acreage in the vicinity of the Tendrara field, in eastern Morocco
Around 3pm, the UK benchmark index was ahead almost 65 points at 7,476, just holding off the day’s peak of 7,484.53 hit after the Bank of England left UK rate unchanged
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Some of the day's headlines on the Proactive Investors newswire
Oil companies expert Malcolm Graham Wood said Tuesday's update was good news.
A glance at some of the bigger risers and fallers today in London ...
Sound Energy said its proposed pipeline route has been cleared by the local authority, paving the way for engineering and commercial activities necessary to support final authorisation
With an hour and a quarter of trading to go, the UK benchmark index was ahead 58 points at 7,430, just easing back from the afternoon peak of 7,438.90
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Sound Energy turned the conversation to it successes at Tendrara, in eastern Morocco, where it is now planning its next moves.
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Some the main stories on the Proactive newswire today
“What is clear is that there is a huge amount to be done operationally in order to prove up resources," says finnCap analyst Dougie Youngson
A look at some of the main news-driven risers and fallers in London
Chief executive James Parsons says the rest of 2017 will see a busy operational period for Sound Energy
London stocks were on the front foot this morning, but they quickly retreated this afternoon...
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A glance at some of the stories on the Proactive newswire today
WH Ireland’s Brendan Long, said: “this is an excellent pressure response and reflects the productivity of the well"
New pressure readings show a "very strong" recovery following this year's earlier TE-7 production testing, and the company now expects to roll-out a development of horizontal wells similar to TE-7
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The blue chip index closed up 40.69 at 7,430 on the day
The exploration stock is a favourite for private investors, but, it has been on the back foot, down about 40% in the past two weeks.
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A look at the world of small cap oll and gas news this week
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A glance at some of the stories on the Proactive newswire today
Sound shares are down almost 40% in the past week, down from around 76p on Friday.
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A glance at some of the stories on the Proactive newswire today
A look at some of the biggest risers and fallers among London-listed small cap stocks
The AIM-quoted firm has been quick to change the subject after Monday's exploration disappointment in Italy.
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A glance at some of the stories on the Proactive newswire today
Cantor analyst Sam Wahab reckons Sound Energy’s future will be in Morocco.
Badile had for a long time been seen as the primary value catalyst for Sound, but that was before the AIM-quoted explorer succeeded with the Tendrara asset.
“Today’s 20% odd fall in the shares probably reflects sky-high ambitions, but with Sidi Moktar still drilling may represent a buying opportunity for the wise.”
“The likely sub-commercial volumes at Badile are of course a disappointment,” said James Parsons.
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A look at the world of small cap oll and gas news this week
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A summary of stories on the Proactive newswire today
if the wells are successful at the deeper levels it would be 'really good' news for the oil and gas explorer,
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A look at the world of small cap oll and gas news this week
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A glance at some of the stories on the Proactive Investors newswire today
The size and quality of the gas reservoir will be the key issues, and more work is needed to find out more.
Risers and fallers: Advanced Oncotherapy, St Ives, Intelligent Energy
Drilling and logging must to be completed to establish the full picture.
Bellway's bullish trading statement sparked buying activity across the sector
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A glance at some of the headlines on the Proactive newswire today...
Risers and fallers: Greatland Gold moves into cobal, Mitie steadies the ship
"We see Sound’s current share price as representing a compelling entry point for investors.”
The oil and gas firm is re-entering the Koba-1 well, part of the Sidi Moktar project in central Morocco.
Around 8.45am, the UK blue chip index was about 24 points lower at 7,503, having gained around 1% on Friday after international stocks benefited from sterling’s falls
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A look at some highlight news this week from small cap oil and gas stocks..
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Zak explores just how change of name might (and might not) alter the fortunes of a small-cap
“Word is they are quite close to a first major acquisition but two or three may be in the pipeline"
Greenberry is one of the company's two cornerstone investors, having backed the Echo Energy launch, supporting the group with an equity funding that gave it a 27.15% stake in the company
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A glance at some of the stories on the Proactive newswire today
Chief executive James Parsons said he was delighted with results from the company's third well on Tendrara
The City is now waiting for a new, updated competent persons report, analysts said
Some of the main risers and fallers in London at 3.45pm
Despite events, the FTSE 100 remained relatively strong throughout the day but ended lower
The case for the defence on technical analysis has come through over the past year with the Brexit and Trump victories
The company plans to re-enter two previously drilled wells Sidi Moktar
Cantor has upgraded Sound Energy to 'buy' from 'hold'.
BP saw its first-quarter profits jump by more than expected, while Shell also put up big numbers.
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A glance at some of the stories on the Proactive newswire today
Gem Diamonds, Concha and MySquar are among the top small cap risers while Asian Growth Properties, Torotrak and Photonstar Led slumped
It has reached the fourth casing point at Badile, near Milan, at 3,379 metres in the Eocene Scaglia formation.
The FTSE 100 ended up 13.57 at 7,248 as investors weigh economic data and corporate earnings
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A look back at the week’s highlighted news for junior oilers
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A 30 to 45-day drill programme got underway on Alaska's North Slope earlier this week.
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A glance at some of the stories on the Proactive newswire today
Schlumberger will carry out a US$27mln geophysical programme to identify follow-on targets to build on the successes at nearby Tendrara.
A look at the biggest London-listed risers and fallers today
It builds on the three-well agreement the pair inked covering Tendrara and follow-up agreement that will allow the US group to earn into the Badile operation near Milan, Italy.
The FTSE 100 closed 10.96 up at 7,275 but Whitbread shares slumped
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A look back at the week’s highlighted news for junior oiler
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A glance at some of the stories on the Proactive newswire today
On the plus side, the board is pretty certain there have been no thefts of gold from the gold room at FRGM, or shipments of gold ore to China.
The ‘new Sound’ will be focussing on South America, not North Africa, and the company is launching a £23mln funding ahead of its first deal.
The company has also confirmed it will go it alone with the exploration of Sidi Moktar thanks to its strong financial position, rather than bringing in a partner.
The UK prime minister has announced a snap general election for 8 June
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A look back at the week’s highlighted news for junior oilers
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A glance at some of the stories on the Proactive newswire today
Highlands Natural Resources and Highland Gold Mining were both among the big losers today
The Morocco and Italy focused gas specialist’s next stop is the fourth casing point at 3,490 metres. The well will go down to a total depth of 4,445 metres.
Two companies, three wells
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A look back at the week’s highlighted news for junior oilers
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A glance at some of the stories on the Proactive newswire today
Chief executive James Parsons bought around £20,000 worth of shares at 73.965p.
Donald Tusk, the president of the European Council, will publish a short statement acknowledging that Article 50 has been triggered
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A glance at some of the stories on the Proactive newswire today
Sound Energy earlier today confirmed a significant extension of the Tendrara field in Morocco.
Some of the main share price risers and fallers in London at 3.45pm
The well confirms the extension of the TAGI gas reservoir across the 12km step-out, albeit at a lower quality here, and it also 'opens' the Westphalian sands (Morocco's primary gas play) in the Tendrara acreage.
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A look back at the week’s highlighted news for junior oilers
Main share price risers and fallers in London at 3.45pm: Ilika, Halma, Public Service Props
The drill bit at Badile, near Milan, has reached the second casing point at 1,407 metres less than a month after work began.
FTSE 100 was three points higher at 7,238, Next rises strongly.
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A look back at the week’s highlighted news for junior oilers