tiprankstipranks
Sound Energy Inks Major Moroccan Asset Deal
Company Announcements

Sound Energy Inks Major Moroccan Asset Deal

Sound Energy (GB:SOU) has released an update.

Don't Miss Our Christmas Offers:

Sound Energy has announced a binding agreement to sell the entire issued share capital of Sound Energy Morocco East Limited to Managem SA for a deal valued at up to $45.2 million, retaining a 20% interest in the Tendrara Production Concession and 27.5% in the surrounding exploration permits. The arrangement will secure substantial funding for the company’s Phase 2 development, two exploration wells, and cover past costs, with a bonus upon Phase 2 gas delivery. Additionally, the company disclosed a board change with Simon Ashby-Rudd stepping down from his director position at the upcoming AGM.

For further insights into GB:SOU stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks UK Auto-Generated NewsdeskSound Energy Announces Investor Presentation and Q&A Session
TipRanks UK Auto-Generated NewsdeskSound Energy Finalizes Sale of Moroccan Assets to Managem
TipRanks UK Auto-Generated NewsdeskSound Energy Teams Up with Getech in Morocco
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App