Sound Energy PLC Eastern Morocco: Concession Application (7118Q)
08 June 2018 - 4:00PM
UK Regulatory
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
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END
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