Morocco: Sound Energy acquires additional interest in Eastern Morocco

Morocco: Sound Energy acquires additional interest in Eastern Morocco
14 Jun 2021
Sound Energy, the Moroccan focused upstream gas company, has entered into a sale and purchase agreement with
Schlumberger Holdings II Limited to acquire the entire issued share capital of
Schlumberger Silk Route Services Limited ('SSRS').
Acquisition Highlights:
The Group will have increased participating interests in the Anoual and Greater Tendrara exploration permits in Eastern Morocco (the 'Exploration Permits')  by 27.5% to 75%, together with full control over its 75% participating interest in the Tendrara Concession
Accretive acquisition on highly attractive terms
Positions Sound Energy to generate enhanced returns, cashflow and value as it moves forward the phased development of the TE-5 Horst

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