Sound Energy (SOU)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.95p
   
  • Change Today:
      0.016p
  • 52 Week High: 2.05
  • 52 Week Low: 0.64
  • Currency: UK Pounds
  • Shares Issued: 1,963.12m
  • Volume: 2,171,800
  • Market Cap: £18.67m
  • RiskGrade: 409

Sound Energy drops after poor exploration results and deepened loss

By Duncan Ferris

Date: Thursday 19 Sep 2019

LONDON (ShareCast) - (Sharecast News) - Shares in Sound Energy dropped on Thursday as the oil and gas explorer said a disappointing period had seen poor results from two exploration wells and a deepened interim loss.
The six months ended 30 June saw Sound Energy safely complete the first two wells of its 2018/19 Eastern Morocco exploration campaign on budget but both wells failed to achieve commercial gas flow rates.

Even so, the company is now exploring monetisation options for the Eastern Moroccan portfolio and said it remained confident in its potential following the drilling of five wells and the interpretation of new seismic data, saying that it contains a number of high impact opportunities and plays.

The group said progress is continuing in the advancement of the Tendrara TE-5 development, where front end engineering design work is ongoing and talks are underway over a possible gas sales agreement.

The AIM-traded company has yet to record revenue and booked a loss before tax of £11.5m compared to a loss of £3.4m in the same period the year before.

After raising £2.4m via an equity sale in June, cash and cash equivalents stood at £11.1m at the end of the period, down from £20.5m at the end of December.

Sound Energy shares were down 7.59% at 8.10p at 1149 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sound Energy Market Data

Currency UK Pounds
Share Price 0.95p
Change Today 0.016p
% Change 1.71 %
52 Week High 2.05
52 Week Low 0.64
Volume 2,171,800
Shares Issued 1,963.12m
Market Cap £18.67m
RiskGrade 409

Sound Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.72% above the market average76.72% above the market average76.72% above the market average76.72% above the market average76.72% above the market average
13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average
Price Trend
49.26% below the market average49.26% below the market average49.26% below the market average49.26% below the market average49.26% below the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
69.95% above the market average69.95% above the market average69.95% above the market average69.95% above the market average69.95% above the market average
1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sound Energy Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:20 49,139 @ 1.01p
16:16 114,142 @ 1.00p
16:16 137,722 @ 0.97p
16:16 307,026 @ 0.97p
16:14 616,286 @ 0.97p

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