TIDMSOU

RNS Number : 7118Q

Sound Energy PLC

08 June 2018

8 June 2018

Sound Energy plc

("Sound Energy" or the "Company")

Eastern Morocco : Application for Development Concession

Sound Energy, the Moroccan focused upstream gas company, is pleased to announce the submission to the Ministry of Energy, on behalf of its Joint Venture partners, of its application for the development concession relating to the Tendrara gas discovery.

Sound Energy's CEO James Parsons commented:

"I am delighted with the achievement of this important milestone with the first, development concession in Eastern Morocco. The concession award, expected later this year, will be a significant step to both de-risk the development and commercialise the gas discovery.

The Company continues to make excellent progress on all fronts and, in addition to the FEED award announced on 7 June, the Company continues to advance discussions in relation to a gas sales agreement."

The Tendrara gas discovery sits in an onshore block located in Eastern Morocco, where Sound Energy started exploration activities as the operator in June 2015.

Sound Energy's application for the Phase-1 development of Tendrara, which will now be reviewed by the Ministry of Energy, covers the technical and commercial aspects of the field development plan and the outline of the development area.

Once on-stream, the existing discovery is expected by the Company to produce some 60 million standard cubic feet per day of natural gas, and be monetised through a future 120km pipeline to the Gazoduc Maghreb Europe (GME) pipeline which is part of the infrastructure subject to the recent front end engineering and design ("FEED") award.

For further information please contact:

 
 Vigo Communications - PR Adviser                Tel: +44 (0)20 7390 0230 
  Patrick d'Ancona 
  Chris McMahon 
  Kate Rogucheva 
 Sound Energy                                j.parsons@soundenergyplc.com 
  James Parsons, Chief Executive Officer 
 Smith & Williamson - Nominated Adviser          Tel: +44 (0)20 7131 4000 
  Azhic Basirov 
  David Jones 
  Ben Jeynes 
 RBC - Joint Broker                              Tel: +44 (0)20 7653 4000 
  Matthew Coakes 
  Martin Copeland 
  Laura White 
  Macquarie Capital (Europe) Limited             Tel: +44 (0)20 3031 2000 
   - Joint Broker 
   Alex Reynolds 
   Nick Stamp

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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