16th Dec 2015 09:48
LONDON (Alliance News) - Europe and Mediterranean-focused upstream oil and gas company Sound Energy PLC on Wednesday said its farm-in deal with the Moroccan Oil and Gas Investment Fund has been completed for the Tendrara Lakbir licence, onshore Morocco.
Ministerial approval for the farm-in agreement has now been received, completing the approval process.
Sound has also signed a commercial deal with Entrepose Drilling Morocco to supply a rig and to start the process of procuring the long-lead items for the drilling of two appraisal wells at the Tendrara licence.
Shares in Sound Energy were up 2.5% to 13.0675 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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