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Sound Energy drop 'undue' after 'sub-commercial' Badile revelations - analyst

Sound Energy PLC’s (LON:SOU) revealed that despite the ‘encouraging’ gas shows, reported recently, the apparent discovery in the Badile well would most likely be ‘sub-commercial’.

In London, Sound Energy’s AIM-quoted shares fell around 20p, 26.6%, to trade at 56.5p each by midday.

Cantor Fitzgerald's Sam Wahab tells Proactive's Andrew Scott: ''The sell-off post result this morning was over-done''.

'A lot are aware the company's value had been created over the last 18 months or so predominantly down to its operations in Morocco which have been hugely successful ... so to take a hit at the open of 30% was undue for them''.

Quick facts: Sound Energy PLC

Price: 2.8525 GBX

AIM:SOU
Market: AIM
Market Cap: £30.8 m
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Sound Energy entering increasingly busy period with multiple work-streams...

Proactive Investors oil and gas correspondent Jamie Ashcroft spoke to Andrew Scott as shares in the Morocco-focused gas junior Sound Energy PLC (LON:SOU) enjoyed a 25% rise this week after the company issued five stock market statements in five days. The daily communications included...

on 8/6/18

2 min read