Big picture - Why invest in Sound Energy PLC
Sound Energy PLC Snapshot
We are a well-funded Mediterranean exploration and production company, listed on AIM, with an institutional cornerstone investor and strong liquidity.
We have built a high quality, action orientated, team across Milan, Rabat and just outside of London focused on permitting, funding and then delivering a Mediterranean and gas focused drill programme which is balanced in terms of risk and reward.
Our initial strategic focus was our onshore gas portfolio in Italy, which is a healthy blend of high upside exploration, low risk appraisal / development assets and some solid, cost covering, production. Our Italian journey commenced in 2013 with the successful drilling of the first Nervesa well and achievement of first gas at the Rapagnano gas field. In July 2014, we secured first gas at the Casa Tiberi gas field, again demonstrating the Company's ability to mature projects through development and on to production and revenue generation. The journey continues during 2015 with the acquisition and drilling of an asset in Morocco (the Tendrara licence) and achievement of first gas at Nervesa. We are focusing both our financial and human resources on our game-changing assets, including our largest gas prospect, Badile which is the largest and most strategic of our assets with a gross best estimate NPV10 of Euro 486 million. It is our intention to farm out and then drill Badile with a view to capturing the upside NPV, which exceeds US$2 billion, and then move onto Zibido (a twin prospect, world-class in its own right, on the same licence). After having drilled Badile we plan to drill Laura – a long reach deviated well addressing a previously drilled and successfully tested gas discovery 4Km offshore in Southern Italy.
The final step in the journey involves continued expansion into the broader Mediterranean, likely focused on gas and probably achieved through acquisition. This will be combined with consolidation within Italy and Morocco, where possible. We have the skills onboard to originate and execute transformational transactions.
So in summary Sound is a small team focused on "shaping moves" and working to deliver a mid cap regional oil and gas company. The journey is now well underway.
Chief Executive Officer
Simon Davies - Chairman (Non-Executive)
Simon was appointed as a Non-Executive Director of Sound Energy in February 2014, and has over 30 years experience of investment management. He is also currently Chairman of the JP Morgan Overseas Investment Trust plc, a Non-Executive Director of Grainger plc, and a Director of a number of subsidiaries of Old Mutual Wealth Management Limited. He began his investment career in 1981 with Rothschild Asset Management, and has held various positions in the City of London, including Chairman and Chief Executive of Threadneedle Asset Management Limited, and Chairman of Thames Water Pension Trustees.
Simon holds various professional and academic qualifications, including a degree in Economics.
James Parsons - Chief Executive Officer
James Parsons has 23 years’ experience in the fields of strategy, management, finance and corporate development in the energy industry. James Parsons was appointed Chief Executive Officer in October 2012.
James started his career with the Royal Dutch Shell group in 1994 and spent 12 years with Shell working in Brazil, the Dominican Republic, Scandinavia, Holland and London. Leading up to 2006 (when he left Shell to join Inter Pipeline Fund), James held various positions in Shell's exploration and production business, latterly as Vice President, Finance, of New Business.
James joined Sound Energy as Chief Financial Officer in 2011 from the European division of Inter Pipeline Fund, a Toronto-listed resources business, where he held the position of Finance and Corporate Development Director of Inter Pipeline Europe.
James is a qualified accountant and has a BA Honours in Business Economics.
Luca Madeddu - Managing Director, Morocco
Luca has over 25 years of experience in the upstream oil and gas industry with ENI, the major integrated energy company. Luca is a reservoir geologist by background and has extensive experience in hydrocarbon production, field development, petroleum engineering, supply chain management and reservoir engineering. He has managed large teams in complex operations in sensitive onshore and offshore environments and has worked in Venezuela, Nigeria, Indonesia, UK, Congo and Italy.
Luca holds a degree in Geology from Milan University, and has been a Member of the Society of Petroleum Engineers (SPE) since 1995.
Leonardo Spicci - Managing Director, Italy
Leonardo has over 25 years upstream experience with ENI, Petrobel, KPO and GSA, with extensive experience of working in Italy, Northern Africa, Middle East and Central Asia.
Prior to joining Sound Energy in 2013 he was the District Manager for all Northern Italian Assets at ENI, managing a portfolio of onshore fields, offshore platforms and gas and oil treatment plants.
Leonardo has a BSc in Geological Science and is a Member of the Society of Petroleum Engineers.
Marco Fumagalli - Director (Non-Executive)
Marco Fumagalli joined Sound Energy as a non-executive Director in July 2014. Marco is Managing Partner at Continental Investment Partners SA, a Swiss based fund and cornerstone shareholder in Sound Energy. Marco is a well known Italian businessman who was previously a Group Partner at 3i. Marco is a qualified accountant and holds a degree in Business Administration from the University “Bocconi” of Milan.
Richard Liddell - Director (Non-Executive)
Richard Liddell has over thirty-five years' experience in the oil and gas industry. Richard has served on the board of Falkland Oil and Gas from 2005 to 2015 initially as a non-executive director and, latterly, as Chairman. He is also Chairman and Man
Managing Director of Clara Petroleum. He was Operations Director of Premier Oil from 2000 until 2003 and prior to that spent three years as Director of Development at BG Exploration and Production.
Stephen Whyte - Director (Non-Executive)
Stephen Whyte has over 25 years' experience in the oil and gas industry. He was Chief Operating Officer and Executive Director for Exploration and Production at Galp Energia for three years until 2014 and prior to that spent three years as Senior Vice President Commercial at BG Group. He previously spent a total of fourteen years with Shell and six years with Clyde Petroleum.
4a Brewery Lane
Tel: +44 (0)1732 606030
Apennine Energy Spa
Via Angelo Moro 109
20097 San Donato Milanese
Smith & Williamson Corporate Finance Limited
Cantor Fitzgerald Europe
One Churchill Place
Capita Asset Services
34 Beckenham Road
Kent BR3 4TU
Watson Farley & Williams LLP
15 Appold Street,
Crowe Clark Whitehill LLP
St Bride's House
10 Salisbury Square