Sound Energy Plc (LSE:SOU) is an AIM listed gas exploration and development company and is the largest onshore operator in Morocco.
Sound Energy (previously known as Sound Oil Plc) was admitted to AIM in June 2005 when it raised £11 million in gross proceeds through the placing of c. 199.818 million new ordinary shares at a share price of 5.5 pence each.
Following the placing, SOU had c. 299.818 million shares in issue and the market capitalisation of the company was £16.5 million.
In April 2024, Sound Energy had c. 1.96 billion ordinary shares in issue and the share price was 0.91 pence, giving it a market cap of c. £17.7 million.
Overview of the company’s assets
Sound Energy has an interest in the following portfolio of assets:
Eastern Morocco
Greater Tendrara: Owns 47.5% interest. Exploration permit with 8 years remaining.
Anoual Exploration Permit: Located in Eastern Morocco. Owns 47.5% interest. 8-year term effective from August 2017.
Tendrara Production Concession: Owns 47.5% interest. Independently certified gas discovery of 0.65 Trillion Cubic Feet (TCF) at TE-5 Horst. 25-year licence term effective from September 2018.
Sound Energy is currently negotiating the disposal of 51% of the Eastern Moroccan portfolio which could reduce its respective interests to 23.3%.
Southern Morocco
Sidi Mokhtar Onshore: Owns 75% interest. 8-year exploration permit effective from February 2018.
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