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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sound Energy Plc | LSE:SOU | London | Ordinary Share | GB00B90XFF12 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.775 | 0.702 | 0.85 | 5,867 | 08:05:21 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | 0 | 4.97M | 0.0026 | 2.96 | 14.75M |
From Apr 2019 to Apr 2024
TIDMSOU
RNS Number : 7118Q
Sound Energy PLC
08 June 2018
8 June 2018
Sound Energy plc
("Sound Energy" or the "Company")
Eastern Morocco : Application for Development Concession
Sound Energy, the Moroccan focused upstream gas company, is pleased to announce the submission to the Ministry of Energy, on behalf of its Joint Venture partners, of its application for the development concession relating to the Tendrara gas discovery.
Sound Energy's CEO James Parsons commented:
"I am delighted with the achievement of this important milestone with the first, development concession in Eastern Morocco. The concession award, expected later this year, will be a significant step to both de-risk the development and commercialise the gas discovery.
The Company continues to make excellent progress on all fronts and, in addition to the FEED award announced on 7 June, the Company continues to advance discussions in relation to a gas sales agreement."
The Tendrara gas discovery sits in an onshore block located in Eastern Morocco, where Sound Energy started exploration activities as the operator in June 2015.
Sound Energy's application for the Phase-1 development of Tendrara, which will now be reviewed by the Ministry of Energy, covers the technical and commercial aspects of the field development plan and the outline of the development area.
Once on-stream, the existing discovery is expected by the Company to produce some 60 million standard cubic feet per day of natural gas, and be monetised through a future 120km pipeline to the Gazoduc Maghreb Europe (GME) pipeline which is part of the infrastructure subject to the recent front end engineering and design ("FEED") award.
For further information please contact:
Vigo Communications - PR Adviser Tel: +44 (0)20 7390 0230 Patrick d'Ancona Chris McMahon Kate Rogucheva Sound Energy j.parsons@soundenergyplc.com James Parsons, Chief Executive Officer Smith & Williamson - Nominated Adviser Tel: +44 (0)20 7131 4000 Azhic Basirov David Jones Ben Jeynes RBC - Joint Broker Tel: +44 (0)20 7653 4000 Matthew Coakes Martin Copeland Laura White Macquarie Capital (Europe) Limited Tel: +44 (0)20 3031 2000 - Joint Broker Alex Reynolds Nick Stamp
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCQDLFBVQFXBBK
(END) Dow Jones Newswires
June 08, 2018 02:00 ET (06:00 GMT)
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