Sound Energy Plc · LSE:SOU
Sound Energy — Investor Presentation (2023)
18 slides from Sound Energy's investor presentation, 2023
Slide 1: Fuelling the Energy Transition
Fuelling the Energy Transition Winter 2023
Slide 2: A compelling transition energy investment opportunity in Morocco
Competitive Advantage: Onshore Moroccan Gas Play Largest onshore operator in Morocco focused on developing material gas discoveries at Tendrara Value Proposition Compelling case for gas Critical to energy policy in relevant markets that see gas as a transition energy fuel underpinned by strong deman
Slide 3: Our Assets: Two Gas Developments within one concession in Morocco
Our Assets Two Gas Developments within one concession in Morocco where gas is in high demand Dependency on Imports Growing Energy Needs Significant Commitment To The country has seen a 5% yearly growth Sustainable Energy Morocco has been heavily dependent on imported gas, with 90% historically sourc
Slide 4: Tendrara Development Phase One: Micro LNG
Phase One: Micro LNG Tangier Nador Tendrara Development Kenitra Oujda • Contract with Vendor Financing EPC O&M contractor Italfluid Geoenergy S.r.l Rabat to Design, Build, Operate and Maintain the Micro LNG plant as a leased facility Casablanca • $18 mm loan note provided by Afriquia Gaz (part of AK
Slide 5: Tendrara Development Phase Two: CPF, Pipeline & Wells
Phase Two: Tahaddart Power 400 MW CPF, Pipeline & Wells Oued El Makhazine Dhar Doum 4 x 2 x 400 MW 400 MW Tendrara Development GAS DISCOVERY AT THE TE-5 HORST Al Wahda Oujda Ain Beni Mathar Rabat 4 x 400 MW RECOVERABLE RESOURCES OF 377 Bcf (2C)1 Casablanca M04 Tie-in point 80 bar Anoual Exploration
Slide 6: Phase Two: Route to FID
Phase Two: Route to FID Debt Equity Attijariwafa Bank is the lead senior • Funding Partner at asset level, Calvalley1 debt arranger • Other funding options such as CPs: mezzanine debt or other • Regulatory approvals subordinated debt • Gas sales agreement signature • Partial Vendor Financing remains
Slide 7: Upside Potential
50 KM Planned Tendrara Gas Export Pipeline Gas Discovery Upside Potential – ANOUAL TAGI Feature Palaeozoic Feature Gas Pipeline Route Further Gas Exploration M5 Licenced Areas Significant Opportunity for Scalable Growth TE-5 Horst TE-4 Horst Scale SBK-1 GRAND Largest onshore permit holder in Morocco
Slide 8: Key Activities
OPERATIONS Key Activities Significant milestones achieved throughout 2023, including: Phase One Site Phase Two Finance Exploration Balance Sheet Construction Ongoing and Partnering Strengthening Near-term next steps Near-term next steps Near-term next steps Completed • LNG tank erection • Close e
Slide 9: We are positioned for growth, with multiple opportunities under consideration
We are positioned for growth, with multiple opportunities under consideration Energy Transition provides scope for multiple growth opportunities. Leveraging our existing strong relationships and regional knowledge, there is potential to build Sound Energy within and beyond Morocco Runway to Signific
Slide 10: Financial Overview
Financial Overview Finance Debt Position: • €25.3 mm 5% senior secured notes due in TICKER: SOU.L December 2027 Market LISTING: AIM TICKER: SOU.L c$45mm Cap1 €25.3mm c$45m Debt1 $2.2mm Cash3 • $18 mm 6% loan note with Afriquia Gaz due in December 2033, to be drawn down during 2022- 2023 to fund Phas
Slide 11: Our Sustainability Journey
ESG Our Sustainability Journey We made significant progress on our sustainability journey in 2022 In 2023 and beyond, we are working towards these UN Sustainable Development Goals: Materiality Sustainability Carbon Assessment Goals Accounting Board completed a materiality We applied a set of sustain
Slide 12: Sound Energy offers compelling access to transition energy through Moroccan gas
SUMMARY Sound Energy offers compelling access to transition energy through Moroccan gas 1. Strategic Importance and Support 4. Financial Roadmap Gas is crucial for the evolving energy policy in Morocco, with a well- Defined financial pathway backed by supportive key partners, effective defined devel
Slide 13: For the latest updates, visit our website
For the latest updates, visit out website: www.soundenergyplc.com Disclaimer: The investment mentioned in this document may not be suitable for all recipients or be appropriate for their personal circumstances. The information in this document is believed to be correct but cannot be guaranteed. Opin
Slide 14: Our Board & Leadership Team
Our Board & Leadership Team Board Members Non-Executive Board Members Graham Lyon Mohammed Seghiri Christian Bukovics David Blewden Simon Ashby-Rudd Executive Chairman Chief Operating Officer Senior Independent NED Independent NED Independent NED An experienced oil and gas Over 23 years’ experience
Slide 15: Tendrara Concession & Grand Tendrara Proposed Divestment
Tendrara Concession & Grand Tendrara Proposed Divestment Partnering with a well-funded upstream player to secure equity funding (subject to closing) Rationale Proposed Terms • 75% position presents an opportunity to • Divestment of a 40% WI across two licences – leaves SE nicely de-risk and further
Slide 16: Tendrara Concession Phase 2 Senior Debt
Tendrara Concession Phase 2 Senior Debt “Senior debt component of Phase 2 CAPEX” Conditioned Term sheet issued by Attijariwafa Bank (Morocco’s Conditions Precedent to the Conditional Offer: largest bank) to provide the Phase 2 senior debt facility on the following terms: · Borrower: A to be newly in
Slide 17: Disclaimer
Disclaimer: This presentation and any additional documents handed out at any meeting (together the “Presentation Materials”) have not been approved by (i) the London Stock Exchange plc or by any authority which could be a competent authority for the purposes of the Prospectus Directive (Directive 20
Slide 18: Disclaimer continued
Disclaimer continued: The Company, in its sole discretion, reserves the right to amend or supplement these Presentation Materials at any time. The Company also reserves the right, in its sole discretion, to terminate discussions with any person at any time. The reproduction, copying or distribution