Indonesian Contingent Consideration

RNS Number : 1278U

Sound Energy PLC

05 April 2016

 

5 April 2016

Sound Energy plc

(the "Company" or "Sound Energy")

Receipt of Indonesian Contingent Consideration

The Company announces that it has received a US$1.1 million (less 7% transfer tax) cash payment from Ophir Energy plc.  This payment was triggered by the achievement of various operational targets on the Bangkanai licence in Indonesia, previously owned by the Company.  The Company will announce any further receipts of contingent consideration if and when they are received.

For further information, please contact:

Vigo Communications - PR Adviser                                         Tel: [phone]

Patrick d'Ancona

Chris McMahon

Alexandra Roper                             

Sound Energy                                                                               [e-mail]

James Parsons, Chief Executive Officer

Smith & Williamson - Nominated Adviser                            Tel: [phone]

Azhic Basirov

David Jones

Ben Jeynes

Cantor Fitzgerald Europe - Broker                                            Tel: [phone]

Sarah Wharry

David Porter

 

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