Scandoil  

Sound Oil gets time to complete Moroccan acquisition


Published Sep 8, 2015
Sound Oil-2

Sound Oil is pleased to announce that it has entered into an agreement with Maghreb Petroleum Exploration S.A., 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 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.

Tags: Sound Oil plc




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