Sound Energy Plc · LSE:SOU
Sound Energy — Investor Presentation (2024)
28 slides from Sound Energy's investor presentation, 2024
Slide 1: Fuelling the Energy Transition
Fuelling the Energy Transition Winter 2024 1
Slide 2: A compelling transition energy investment opportunity in Morocco
Competitive Advantage: Onshore Moroccan Gas Play Substantial exposure to a large onshore acreage holding 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 f
Slide 3: Two Gas Developments within one concession in Morocco where gas is in high demand
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 Morocco has been heavily dependent on The country has seen a 5% yearly growth rate Sustainable Energy imported gas. Imports of natural gas
Slide 4: Tendrara Development Phase One: Micro LNG
Phase One: Micro LNG Tangier Tendrara Development Nador Oujda Kenitra • Operated by Managem SA, a top-tier & strong financial partner with Sound Energy holding 20% interest Rabat • Contract with Vendor Financing EPC O&M contractor Italfluid Geoenergy S.r.l to Design, Build, Jorf Lasfar Casablanca Be
Slide 5: Phase One: Micro LNG
Phase One: Micro LNG 5
Slide 6: 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 Tendrara Development 400 MW Oujda Ain Beni Mathar GAS DISCOVERY AT THE TE-5 HORST Al Wahda Rabat 4 x 400 MW RECOVERABLE RESOURCES OF 377 Bcf (2C)1 Casablanca M04 Tie-in point 80 bar Anoual Exploration
Slide 7: The deal, Phase 2 Funding, Production Bonus, Exploration Wells & Back costs
DIVESTMENT The deal, Phase 2 Funding, Production Bonus, 2 x Exploration Wells, & Back costs Financing Package totalling US$ 45,193,333 net to Sound Energy • Effective date 1st January 2022 • Funding of up to US$ 24,533,333 net Sound share in the Phase 2 Gas Development to Sound Energy • Contingent C
Slide 8: Who are Managem?
OUR PARTNER Who are Managem? Listed on the Casablanca SE Managem is an international mining Integrated mining player, with expertise group, with a presence in 7 countries along the entire value chain: from Ticker : MNG across Africa. exploration, extraction and processing of Managem 2030 strategy: 1
Slide 9: Top-tier & Strong Financial Partner
OUR PARTNER Top-tier & Strong Financial Partner 9 https://www.managemgroup.com/en
Slide 10: Upside Potential – Two Funded Exploration Wells
50 KM Planned Tendrara Gas Export Pipeline Gas Discovery Upside Potential – ANOUAL TAGI Feature Palaeozoic Feature Two Funded Exploration Wells Gas Pipeline Route Licensed Areas M5 Significant Opportunity for Scalable Growth TE-5 Horst TE-4 Horst Scale SBK-1 GRAND Exposure to large onshore permits i
Slide 11: Key Activities
OPERATIONS Key Activities Significant milestones achieved throughout 2024 and into 2025, including: Phase One Site Phase Two Finance Balance Sheet Exploration Construction Ongoing and Partnering Strengthening Near-term next steps Near-term next steps Near-term next steps Deal closure • LNG tank erec
Slide 12: Financial Overview
Financial Overview Finance Debt Position: Market TICKER: LISTING:SOU.L AIM TICKER: SOU.L • € 25.3 million 5% senior secured notes due in c$45mm Debt1 $2.2mm December 2027 Cap1 MRK CAP4: US$ 17.21 million • US$ 18 million 6% loan note with Afriquia Gaz due in December 2033, to be drawn down during to
Slide 13: Our Sustainability Journey
ESG Our Sustainability Journey We made significant progress on our sustainability journey in 2023. We collect and analyse the following metrics to ensure a sustainable business. • Occupational & Process Safety • Local content • Local stakeholder engagements • Compliance training • Compliance risk as
Slide 14: 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 Defined financial pathway backed by supportive key partners, effective well-defined develo
Slide 15: Questions
Questions sound@flagstaffcomms.com chairman@soundenergyplc.com For the latest updates, visit our website: www.soundenergyplc.com Follow us: & @soundenergyplc Disclaimer: The investment mentioned in this document may not be suitable for all recipients or be appropriate for their personal circumstance
Slide 16: Appendix 1: Exploration Summary
Appendix 1: Exploration Summary Fuelling the Energy Transition Winter 2024 16
Slide 17: Gas Exploration: Significant potential for scalable growth
GAS EXPLORATION: Significant potential for scalable growth 50 KM Planned Tendrara Gas Export Pipeline Gas Discovery ANOUAL TAGI Feature Palaeozoic Feature Gas Pipeline Route Licenced Areas M5 MOROCCO TE-5 Horst TE-4 Horst ALGERIA SBK-1 GRAND TENDRARA 50 KM SIDI MOKTAR Gas pipeline • Exposure to larg
Slide 18: Grand Tendrara & Anoual Subsurface
GRAND TENDRARA & ANOUAL SUBSURFACE • Sub-salt seismic imaging improved by • Numerous Triassic (TAGI reservoir) fault blocks 2017/18 Sound Energy geophysical surveys remain undrilled beneath the extensive salt seal Seismic cross section image Seismic interpretation Subsurface model Salt seal TAGI res
Slide 19: Anoual Permit: Exploration of M5 Prospect
ANOUAL PERMIT: Exploration of M5 Prospect • Prior to 2018 this concept had no seismic imaging, new seismic indicates the potential presence of a three-way dip closure M5 • Also supported by interpretation of topography, surface geology & FTG gravity datasets • Seismic imaging indicates a very thick
Slide 20: Grand Tendrara Permit: Exploration of SBK-1
GRAND TENDRARA PERMIT: Exploration of SBK-1 Seismic interpretation Appraisal location SBK-1 SBK-1 Fault TE-5 Horst TE-4 Horst SBK-1 The anticlinal closure of the salt is a prominent feature on geological maps 5 kms and satellite imagery of the region • Faulted anticline, drilled by SBK-1 (2000). • T
Slide 21: Grand Tendrara Permit: Exploration of TE-4
GRAND TENDRARA PERMIT: Exploration of TE-4 3D image of the TAGI reservoir TE-7 TE-6 TE-5 TE-5 Horst TE-4 Horst TE-4 SBK-1 • Simple structure, fault block partially investigated by the TE-4 well drilled in 2016. • New seismic imaging demonstrates the TE-4 well location was suboptimal • Drill on the c
Slide 22: Grand Tendrara & Anoual: Exploration Summary
GRAND TENDRARA & ANOUAL: Exploration Summary 50 KM Planned Tendrara Gas Export Pipeline Gas Discovery ANOUAL TAGI Feature Palaeozoic Feature Gas Pipeline Route Licenced Areas M5 TE-5 Horst TE-4 Horst SBK-1 GRAND TENDRARA Appraisal and Exploration Opportunity Summary Unrisked Volume Potential (GIIP)1
Slide 23: Glossary of terms
Glossary of terms Bcf Billion Standard Cubic Feet With respect to resources categorization, the most realistic assessment of quantities of petroleum if only a single result were reported. If probabilistic methods Best Estimate are used (e.g. Monte Carlo Simulation), there should be at least a 50% pr
Slide 24: Appendix 2: Supplementary Information
Appendix 2: Supplementary Information Fuelling the Energy Transition Winter 2024 24
Slide 25: Our Board & Leadership Team
Our Board & Leadership Team Board Members Non-Executive Board Members Graham Lyon Mohammed Seghiri Christian Bukovics David Blewden Executive Chairman Chief Operating Officer Senior Independent NED Independent NED An experienced oil and gas Over 23 years’ experience in 40 years of international Inde
Slide 26: 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 27: 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 28: 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