Sound Oil Negotiating for Sidi Moktar Stake

Tuesday, September 8, 2015

Sound Oil has entered into an agreement with Maghreb Petroleum Exploration 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 License, onshore Morocco.

The Sidi Moktar License covers an onshore area of 3,000 sq km and is located in the Essaouira basin which contains multiple Jurassic gas discoveries.

The company is commencing due diligence in relation to this opportunity.

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