Sound Energy (GB:SOU) has released an update.
Sound Energy PLC, an energy company focusing on transition projects, reported significant progress in its Tendrara Production Concession in Morocco, despite some project delays. With the mLNG project’s construction advancing and an expected gas processing commencement by the end of 2024, the company has also secured key financial partnerships, including a term sheet with Attijariwafa Bank and a divestment deal with Calvalley Petroleum. Additionally, Sound Energy has settled tax disputes with Moroccan authorities and restructured its Eurobond to improve its financial stance as it targets further development and exploration activities.
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