Sound Energy completes farm-in

Sound Energy plc, a European/Mediterranean-focused upstream oil and gas company, has completed its farm-in agreement with the Moroccan Oil and Gas Investment Fund in relation to the Tendrara Lakbir license, onshore Morocco, with ministerial approval, the final condition to the farm-in, now received.

The company has also agreed to commercial terms with Entrepose Drilling Morocco for the supply of a HH300 rig and the initiation of the procurement process for long lead items for the drilling of the first two appraisal wells on the Tendrara license.

Sound Energy intends to begin ground works on the drill site for the first Tendrara well shortly after receipt of EIA approval, which the company expects to receive in January 2016.

The company signed a term sheet with Schlumberger in relation to the Tendrara license on Oct. 21, and continues to work with Schlumberger in developing the strategic collaboration between Sound Energy and Schlumberger.


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