Exclusivity on Second Moroccan Acquisition

RNS Number : 2000Y

Sound Oil PLC

07 September 2015

 

7 September 2015

Sound Oil plc

("Sound Oil" or the "Company")

Exclusivity on Second Moroccan Acquisition

Sound Oil, the Mediterranean focused upstream gas company, is pleased to announce that it has entered into an agreement with Maghreb Petroleum Exploration S.A. ("Maghreb"), under which Maghreb has awarded Sound Oil a two month period of exclusivity to negotiate and complete the acquisition of a subsidiary of Maghreb which holds a 25% carried working interest in the Sidi Moktar licences, onshore Morocco (the "Sidi Moktar Licence"). 

The Sidi Moktar Licence is an onshore licence covering 3000 Km2 and is located in the Essaouira basin which contains multiple Jurassic gas discoveries.

The Company is commencing due diligence in relation to this opportunity and further announcements will be made, as appropriate, in due course.

For further information please contact:

Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon	Tel: [phone]
Sound Oil James Parsons, Chief Executive Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: [phone]
Cantor Fitzgerald Europe - Broker Sarah Wharry David Porter	Tel: [phone]

 

END

 

 

NRAKZLFBEKFXBBK