Sound Energy PLC Completion of Acquisition (1027K)
31 Agosto 2021 - 1:00AM
UK Regulatory
TIDMSOU
RNS Number : 1027K
Sound Energy PLC
31 August 2021
31 August 2021
Sound Energy plc
("Sound Energy", the "Company" and together with its
subsidiaries the "Group")
Completion of Acquisition
Sound Energy plc, the Moroccan focused upstream gas company, is
delighted to announce the completion of the Company's acquisition,
as announced on 14 June 2021, from Schlumberger Holdings II Limited
(the "Seller") of the entire issued share capital of Schlumberger
Silk Route Services Limited ("SSRS") (the "Acquisition").
SSRS holds a 27.5% participating interest in the Anoual and
Greater Tendrara exploration permits in Eastern Morocco (the
"Exploration Permits"), together with a 27.5% indirect interest in
the Tendrara Concession (the "Concession") through its contractual
relationship with the Group. Sound Energy plc now controls operated
working interests of 75% in the Exploration Permits and in the
Concession.
Commenting, Graham Lyon (Executive Chairman) said:
"This accretive transaction has now completed and underlines
Sound Energy's position as the leading gas developer in Morocco.
Following the recently announced Gas Sales Agreement with Afriquia
Gaz, Sound Energy is now moving inexorably forward to the Final
Investment Decision for its Micro LNG project."
For further information please contact:
Vigo Consulting - PR Adviser Tel: 44 (0)20 7390 0230
Patrick d'Ancona
Chris McMahon
Sound Energy c hairman @soundenergyplc.com
Graham Lyon, Executive Chairman
Cenkos Securities - Nominated Adviser Tel: 44 (0)20 7397 8900
Ben Jeynes
Peter Lynch
SP Angel Corporate Finance LLP - Broker
Richard Hail Tel: +44 (0)20 3470 0470
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END
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