TIDMSOU

RNS Number : 4662Y

Sound Energy PLC

02 January 2020

2 January 2020

Sound Energy plc

("Sound Energy" or the "Company")

Update re Tendrara Gas Sales Agreement MOU

The Company announced on 30 October 2019 that it had, in relation to ongoing negotiations in respect of a Gas Sales Agreement for the sale of natural gas production in the Tendrara concession in Eastern Morocco (the "GSA"), entered into a binding memorandum of understanding (the "MOU") with Morocco's Office National de l'Electricité et de l'Eau Potable ("ONEE"), the state power company of Morocco, on behalf of its partners, including Morocco's L'office National des Hydrocarbures et des Mines.

Under the MOU the parties have agreed to use their reasonable endeavours to continue negotiations with a view to entering into a binding GSA, incorporating the key terms of the MOU announced on 30 October 2019 and construed under Moroccan law, prior to the end of calendar year 2019.

The Company confirms that GSA negotiations continue and announces that it is in the process of agreeing an amendment to the MOU with ONEE in order to extend the period for negotiations of the final GSA to 31 March 2020 (the "Amendment"). Following an agreement in principle, the parties intend to enter into the Amendment as soon as is practicable.

Further announcements will be made, as appropriate, in due course.

For further information please contact:

 
Vigo Communications - PR Adviser       Tel: 44 (0)20 7390 0230 
 Patrick d'Ancona 
 Chris McMahon 
 Simon Woods 
Sound Energy                           questions@soundenergyplc.com 
Cenkos Securities - Nominated Adviser  Tel: 44 (0)20 7397 8900 
 Azhic Basirov 
 Ben Jeynes 
                                       Tel: 44 (0)20 7653 4000 
  RBC - Joint Broker 
  Matthew Coakes 
  Martin Copeland 
Macquarie Capital (Europe) Limited     Tel: 44 (0)20 3031 2000 
 - Joint Broker 
 Alex Reynolds

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.

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