Infinity Energy bemused by share price rise
Some the largest risers and fallers in London at 1500: Infinity Energy, Zegona, Mobile Sytems
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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Some the largest risers and fallers in London at 1500: Infinity Energy, Zegona, Mobile Sytems
Gas shows have been confirmed in TE-8's target reservoir, drilling continues.
FTSE 100 shares ended higher on Wednesday, thanks to buoyancy in the pharma and mining sectors while a US rate card was considered in the bag, priced and sold on the market
Sound Energy is drilling two wells right now and, according to Cantor analyst Sam Wahab, both could be ‘high impact catalysts’.
Risers and fallers in London at 3,30pm: Prophotonix, Interquest, Surgical Innovations
Badile, near Milan, has reached its first casing point at a measured depth of 545 metres.
FTSE 100 shares closed lower on Tuesday after investors turned edgy over Brexit plans which hit banking and retail shares as well as took sterling to an 8-week low against the US dollar
Oil companies analyst Malcom Graham Wood says it is an exciting time for Sound Energy.
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“Success at TE-8 could lead to a further rerating in Sound’s valuation in our view,” Wahab said in a note.
Some of the largest rises and falls in London at 10.00am: SynairGen, BOS Global, Angus Energy
The well will be drilled to a vertical depth of 2,977 metres.
FTSE 100 stocks ended higher on Friday, led by telecoms behemoth BT after confirming it would separate Openreach
WH Ireland’s comments followed news earlier the company had begun drilling its hotly anticipated Badile gas well in Northern Italy.
Ahead of its proposed relaunch as Echo Energy, Independent Resources is raising funds and boosting its capital
Some of the top rises and falls in London at 3.30pm: Restaurant Group, Inmarsat, Graphene Nanochem
To date the company has scored significant success at Tendrara, in Morocco, where it has discovered significant accumulations of potentially commercial gas.
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FTSE 100 shares ended down on Wednesday with sterling nursing a seven-week low despite a lift for construction stocks following the UK Finance Minister’s Budget pledge of a mini Trump boost to infrastructure
“In our opinion, this is a game-changer for IRG," says stockbroker WH Ireland.
Echo Energy, the apparent 'next Sound', will have a management team and financial backers in common - and they're both focussed on North Africa and the Mediterranean.
The FTSE 100 was down 32 points to 7,342 shortly after 3.15pm on Monday
Some of the largest rises and falls in London at 3.20pm included Wey Education, Rosslyn Data Technologies, Thor Mining
TE-8 has now reached the second casing point in the Triassic Basalt at 2,076 metres just 10 days after drilling began. (Scroll down to see what Capital Markets analyst Lionel Therond has to say on Sound).
FTSE 100 stocks ends flat on Thursday after falling back from a fresh record high as shares in outsourcing group Capita slumped 9%
The first of Sound Energy’s new potential catalysts, the results from the Tendrara-8 well, is just around the corner.
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Some of the largest rises and falls in London at 1pm: Baron OIl, Atlantis Resources, OneView
Work began Sunday and is likely to take 40-50 days to complete with drilling going down to a vertical depth of 2,975 metres.
London’s FTSE 100 ended lower on Friday, dragged lower by heavyweight loser RBS after it reported a ninth straight year of losses
Some of the largest rises and falls in London at 3.15pm: EQTEC, Goldplat, Feedback
TE-8 will be around 12 kilometres from the last successful hole and is what’s called a step out well because it will test the lateral extent of gas that has been discovered in the TAGI reservoir.
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The FTSE 100 ended flat on Monday as Unilever shares sank in the wake of Kraft Heinz saying it had abandoned its proposed merger which would have been one of the biggest in corporate history
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Also featured: Allergy Therapeutics, DP Poland, Eckoh, Harvest Minerals, Metal Tiger, Scotgold Resources, Sound Energy
Badile, in Italy’s Piedmont Lombard Basin region, is being drilled as an exploration well.
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Ground works at the TE-8 location are now complete, the rig is moving from the TE-7 site, and it is expected to ‘rig up’ by mid-February.
'They’ve probably got half a trillion cubic feet of gas in the basket, so far,' according to Malcolm Graham Wood, and the upcoming TE-8 well has the potential to unearth an awful lot more.
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Sound Energy sees as much as 31 TCF of gas at Morocco project; Acquisition of Intel spin-off will boost Telit's Wi-Fi capability; while Fox Marble advances to Mayfair
The in-place gas estimates are in a range from 9 trillion cubic feet to an ‘upside case’ estimate of some 31 trillion cubic feet.
Some of biggest share price risers and fallers at 3pm
A Sound Energy triple and the latest developments from North Sea oiler Hurricane Energy bookend this week’s highlights.
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Sound Energy’s latest Morocco well flowed close to a billion cubic feet of gas during tests; Shanta Gold said it’s ahead of both cost and production targets; plus much more…
Chief executive James Parsons says the new acquisition gives the company a “hugely attractive, material and consolidated portfolio” across Eastern Morocco as well as significant additional upside.
Chief executive James Parsons says the proposed deal gives the company a “hugely attractive, material and consolidated portfolio” across Eastern Morocco.
It looks like another impressive result for the Tendrara gas project, onshore Morocco, and preparations are now underway for a new 'step out' appraisal well which will spud in February
Tendrara is obviously most people's focus but Badile was always a significant prize for Sound Energy and investors will be watching excitedly.
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A glance at some of the stories on the Proactive newswire today
Much of the preparation such as ground work has already been done, while the conductor pipe at the top of the drill hole has been set.
Drill success has flagged up the world-class potential of its Tendrara acreage
There weren't too many winners in this sector over the past year, says Cantor analyst
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James Parsons paid the full market price for his 44,522 shares
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The stock, currently changing hands for 73p, would have to rise a further 38% to reach Cantor Fitzgerald’s valuation.
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FTSE 100 shares ended firmer on Thursday after a late recovery accompanied news from insurer Direct Line
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The standout AIM stock has been added to the MSCI Global Small Cap Indexes as drilling operations in Morocco continue to impress.
technical analyst reckons the Sound Energy share price could rise to re-test the highs of around 100p per share.
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A look a the small cap oil and gas sector last week
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Sirius Minerals concluded a fundraising, while Sound made a significant gas find
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William Hill, Sound Energy, Solo Oil, Prudential ....
This City analyst thinks there is still plenty of headroom for growth - even after the recent upsurge in interest.
Shares in Victoria Oil & Gas were up after it spudded two development wells at its Logbaba gas field in Cameroon
A total of 8.8mln standard cubic feet a day was produced from just 28% of the gross reservoir interval without the need for stimulation.
London's FTSE 100 closed sharply lower on Wednesday as Standard Chartered topped the losers' list for a second successive session, while markets grew jittery about a possible Donald Trump electoral victory
Holland brings with him more than 20 years' experience in the upstream industry
Oil analyst Malcolm Graham-Wood says Sound Energy’s Tendrara gas discovery has the potential to add pounds onto the firm’s share price
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As our mining expert Alastair Ford pointed out, its been a long hiatus with no corporate activity of any real significance at the junior level for nearly seven years, but deals are now popping up.
A large UK financial institution has acquired options which once exercised will give the investor a 80p per share entry.
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The company said it had encountered 28-metres of net pay, roughly in line with what it observed with its first well on the Tendrara licence, TE-6.
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The Twitter pic showed the ground cleared and level with the caption: “Sound Energy shares snapshot of the Badile site this morning, where ground works are underway...”
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Significant share price risers and fallers in London at 4.15pm
A share sale agreed in March has been renegotiated to give the Sound coffers a decent boost.
CEO James Parsons says he looks forward to Badile repeating the success Sound has experienced in Morocco - which has so far triggered a 400% rise in the company's share price.
Once it hits its planned depth, the drill bit will be steered at an 88-degree angle into the TAGI reservoir to provide a horizontal drain of between 600 and 900 metres.
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The weekly round up of oil news from the world of Proactive.
Tendrara, Badile and Sidi Moktar are Sound Energy's three strategic plays which, according to CFO Mary Hood, each have "three digit potential" for the group's share price.
Tekcapital picks up the rights to Wire Caddy, Lekoil increases its financing facility and Eurasia Mining should see first revenues this month.
The shares have continued their strong rally following the better than expected results at the company’s last well, but we believe the current valuation remains undemanding ahead of two transformational wells - Sam Wahab, Cantor Fitzgerald.
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The window for all appeals against Sirius Minerals' North Yorkshire project has ended, Tower Resources raises £1.03mln of new capital and Avation has reported record revenues.