Source - RNS
RNS Number : 3981W
Sound Energy PLC
16 April 2019
 

16 April 2019

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Anoual: Schlumberger Conversion to Direct Licence Position

 

Sound Energy, the Moroccan focused upstream gas company, is pleased to announce that the process to convert Schlumberger's existing 27.5% interest in the Anoual permits to a direct 27.5% licence position has completed following receipt of the relevant Moroccan Ministerial approvals.

 

The Company's unchanged interest in the Anoual permits consists of an operated 47.5% participating interest, with the remaining interests in the Anoual permits held by Schlumberger (27.5%) and Morocco's L'Office National des Hydrocarbures et des Mines (25%).

 

This most recent conversion concludes the process of converting Schlumberger's previously synthetic interests across the Company's Eastern Moroccan exploration portfolio to direct licence positions. Schlumberger now has a direct 27.5% licence interest in the Greater Tendrara Petroleum agreement, as previously confirmed, and the Anoual permits.

 

The process to convert Schlumberger's 27.5% existing interest in the Tendrara production concession, which contains the TE-5 Horst discovery, is ongoing. Further announcements will be made, as appropriate, in due course.

 

 

For further information please contact:

 

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon 

Kate Rogucheva

 

Tel: +44 (0)20 7390 0230

 

Sound Energy

James Parsons, Chief Executive Officer 

JJ Traynor, Chief Financial Officer

[email protected]

 

 

 

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes 

 

 

Tel: +44 (0)20 7131 4000

 

RBC Capital Markets - Joint Broker

Matthew Coakes

Martin Copeland

 

Tel: +44 (0)20 7653 4000

Macquarie Capital (Europe) Limited - Joint Broker

Alex Reynolds

Nick Stamp

Tel: +44 (0)20 3031 2000

 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

 

 


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