Sound Energy PLC - Eastern Morocco Update: Anoual Exploration Permit
Eastern Morocco Update: Anoual Exploration Permit
The Permit, which became effective on
· Initial period of 3 years expiring on
· Subsequent optional first complimentary period of 2 years and 6 months: 1 exploration well with Triassic objective.
· Optional second complimentary period of a further 2 years and 6 months: A further single exploration well with Triassic objective.
The amended work programme commitments under the Permit are now as follows:
· Initial period of 4 years and 4 months from
· Optional first complimentary period of a further 2 years and 6 months (from
· Optional Second complimentary period of a final 2 years and 6 months: A further single exploration well with Triassic objective.
The effective date of the Permit remains the same. The Company clarifies that the commitment to acquire FTG-aerogradiometry and 600 kilometres of 2D seismic has already been fulfilled and approved as such by ONHYM. The Company holds an operated 47.5% interest in the Permit, with the remainder held by joint venture partners Schlumberger with a 27.5% share and ONHYM with a 25% share.
"Despite the challenges caused by the COVID-19 restrictions, I am delighted to have re-aligned our committed exploration work programme at the Anoual Exploration Permit in
For further information please contact:
Tel: 44 (0)20 7390 0230
Cenkos Securities - Nominated Adviser
Tel: 44 (0)20 7397 8900
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Tel: (0)20 3657 0050
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the
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