Morocco: Sound Energy’s well-connected partner

Issue 341 - 02 Mar 2017 | 2 minute read

Sound Energy has finalised agreements to acquire the assets of Morocco’s Oil & Gas Investment Fund (OGIF) in eastern Morocco, and has started drilling the TE-8 appraisal well. OGIF will receive 272m shares, or 28.8% of Sound’s enlarged share capital. The deal gives Sound an additional 20% in the Tendrara Block, the right to increase its Meridja stake to 75% and the right to acquire 75% in relinquished areas of Tendrara.

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