Morocco: Sound Energy raises $32m for Tendrara work

AIM-listed Sound Energy has announced a better-than-expected gas flow from the TE-7 appraisal well on the Tendrara licence, and has raised a net £24.3m ($32m) through a share offer as it talks up the potential for a “huge gas deposit”. The share offer, at the market price rather than a discount, used the PrimaryBid.com online platform to enable private investors to participate on the same terms as institutions.