Directorate Change at Sound Energy
Sound Energy, the European / Mediterranean focused upstream gas company, announced that its Non-Executive Chairman, Simon Davies, has decided to step down as a director of the Company following the Annual General Meeting being held today. Mr Davies is stepping down to pursue his other interests. The Company has asked James Parsons to act as…
Sound Energy Starts Drilling at Tendrara
Sound Energy, the European / Mediterranean focused upstream oil and gas company confirmed the commencement of drilling of the first well at Tendrara, onshore Morocco. With the rig-up completed on 15 April, the well was spud on 20 April 2016. Drilling is expected to reach a total measured depth of 2640 metres with the drilling programme anticipated to include coring, logging, completion and testing.
Sound Energy in Rig MoU for Badile Exploration
Sound Energy signed a Memorandum of Understanding for the rig for the forthcoming Badile exploration well. The Company has signed an MOU with Pergemina SpA for the use of the 3000 HP EMSCO C3 No.29 rig, which is already in Italy. The rig will be available within 4 months of signature of the contract, which is now under discussion. The terms…
Sound Energy Update on Tendrara
Sound Energy, the European/Mediterranean focused upstream gas company has commenced with the ground works on site at the Company's Tendrara licence area and that all contracts have now been awarded for the first well. This includes the upgrading of local infrastructure which will be followed by the preparation of the camp and the two well pad areas.
Sound Energy to Acquire Meridja Area, Morocco
Sound Energy, the Mediterranean and European focused upstream gas company, announces that it has signed a binding agreement with Oil & Gas Investment Fund S.A.S ("OGIF") whereby OGIF has granted Sound Energy an option to acquire a 55% interest in the Meridja permit, onshore Morocco (the "Option"). Meridja is adjacent to Sound Energy's existing Tendrara licence and is a highly prospective 9…
First Gas for Sound Energy's Nervesa
Sound Energy, the Mediterranean focused upstream gas company has achieved first commercial production at the operated onshore Nervesa gas discovery on 3 February 2016. The Nervesa discovery was drilled successfully by the Company in 2013 and benefits from a gas sales agreement with the Shell Group. A further announcement confirming production rates will be made in due course…
Sound Energy Acquires further Sidi Moktar Interest
Sound Energy, the Mediterranean focused upstream gas company, reached heads of agreement with PetroMaroc Corporation Plc in respect of Sound Energy's acquisition of PetroMaroc's 50% operated interest in three onshore gas permits located in Morocco (together the "Sidi Moktar Licences"). These heads of agreement follow Sound Energy's announcement of 14 January 2016…
Sound Energy Reports Progress On Moroccan, Italian Licences
Sound Energy, the European/Mediterranean focused upstream gas company, is pleased to provide the following update on its Moroccan and Italian gas portfolio. Further to the recently announced signatures with Schlumberger of both the strategic partnership across Europe and Africa and the Field Management Agreement specifically on Tendrara, the…
Tendrara: Schlumberger Field Management Agreement
Sound Energy, the European / Mediterranean focused upstream oil and gas company informed that further to the memorandum of understanding and term sheet previously signed with Schlumberger, that it has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (the "FMA") in relation the Tendrara licence, onshore Morocco (the "Tendrara Licence").
Sound Energy Confirms Badile Well Cost Reduction
Sound Energy, the Mediterranean focused upstream oil and gas company, is pleased to announce a significant reduction in the estimated cost of the forthcoming Badile exploration well. The Company has now completed a selective re-tendering of the Badile well programme with a view to capturing cost reductions resulting from the increased availability of rigs and other services in the current low oil price environment.
Sound Energy Acquires Sidi Moktar
Sound Energy, the Mediterranean focused upstream gas company, is pleased to announce that, further to its announcement of 7 September 2015, it has signed heads of terms with Maghreb Petroleum Exploration S.A. ("MPE") for the purchase of MPE's 25% carried working interests in three onshore oil and gas exploration permits located in the Sidi Moktar region of Morocco (together the "Sidi Moktar Licences").
Sound Oil is now Sound Energy
Sound Oil plc, the Mediterranean focused upstream gas company, announces that the previously notified change of the Company's registered name to "Sound Energy plc" has become effective. The Company's ordinary shares will continue to trade on AIM under the Company's existing TIDM of "SOU" and ISIN and SEDOL numbers will also remain unchanged.
Sound Oil Inks Sales Deal with Shell
Sound Oil, the Mediterranean focused upstream gas company signed a gas sales agreement for the Casa Tonetto production concession,() that includes the Nervesa gas field) with Shell Energy Italia, the local arm of Shell Energy Europe, which is Shell's gas, power and emissions trading entity in Europe. The Agreement follows the recent Casa Tonetto…
Sound Oil Gets Nervesa Concession
Sound Oil, the Mediterranean focused upstream gas company has been awarded the Casa Tonetto production concession (which includes the Nervesa discovery) from the Italian Ministry of Economic Development (the "Production Concession"). The award of the Production Concession is the final step in the permitting process to enable commercial production…
Sound Oil Rejigs Top Deck
* Luca Madeddu, an existing director of the Company and currently Managing Director Italy will assume the role of Managing Director Morocco. Luca will relocate to Rabat and head a small but expert team in preparation for Sound Oil's operatorship and development of the Tendrara licence. * Leonardo Spicci, currently Deputy Managing Director Italy will assume the role of Managing Director Italy.
Sound Oil Negotiating farm-in to Tendrara Licence, Morocco
Sound Oil has been granted a 30 day period of exclusivity from the Moroccan Oil and Gas Investment Fund ("OGIF") in relation to a potential farm in to the Tendrara licence, onshore Morocco (the "Tendrara Licence"). The grant of exclusivity initiates exclusive negotiations between Sound Oil and OGIF and follows the submission of an indicative offer letter from Sound Oil to OGIF in respect of the Tendrara Licence…
Sound Oil: Placing, Issue of Warrants, Intended Open Offer
Sound Oil, the European / Mediterranean focused upstream oil and gas company is placing to raise a total of £12.0 million, before expenses, through the issue of 63,157,895 new ordinary shares (the "Placing Shares") at a price of 19 pence per ordinary share (the "Placing") with an equal number of detachable warrants to subscribe for new ordinary…
Sound Oil Secures EIA Approval for Nervesa
Sound Oil, the European / Mediterranean focused upstream oil and gas company announced receipt of the final approval of the Environmental Impact Assessment ("EIA") for the Nervesa field production concession from the Veneto Region (the "Final EIA Approval"). The award of the Nervesa field production concession from the Italian Ministry of Economic Development is expected to follow shortly.
Sound Oil to Go-ahead with Nervesa Drilling
Sound Oil, the European / Mediterranean focused upstream oil and gas company has received drilling authorisation for the second well in the Carita licence from the Italian Ministry of Economic Development. The Carita licence includes the Nervesa gas discovery. There are no further outstanding regulatory consents required before the commencement…
Sound Oil Secures EIA Approval
Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to announce the approval of the Environmental Impact Assessment ("EIA") for the Badile exploration well from the Lombardy Regional Government. The drilling authorisation from the Italian Ministry of Economic Development is expected to follow with the endorsement of the Lombardy Region.
