Sound Energy said it had put its Moroccan assets up for sale, a day after it reported disappointing flow results from a new discovery there.
The company said it had hired Rothschild to market the portfolio, which contains numerous prospects in the country's east.
Sound Energy said it intended to pause further operations, including in relation to TE-11, the third well in the current exploration programme, until after the results of the sale process.
The company reported on Tuesday that its TE-10 discovery failed to produce commercial flow rates.
'The announcement regarding the results of the TE-10 well test does not diminish Sound Energy's overall assessment of its Eastern Morocco acreage which, following the drilling of five wells and interpretation of new seismic data, all operated by the company, contains a number of high impact plays,' it said.
At 9:30am: (LON:SOU) Sound Energy PLC share price was +0.89p at 11.59p