Sound Acquires 55% Interest in Meridja Permit, Onshore Morocco

European/Mediterranean focused upstream gas company Sound Energy has exercised its option to acquire a 55 percent participating interest in the Meridja exploration permit, onshore Morocco, from Oil & Gas Investment Fund S.A.S.

The Meridja license area is adjacent to the Tendrara license and is “a highly prospective 9,000 Km2 (3,474 miles squared) area with the same fundamental geology as Tendrara,” according to a company release. The deal is subject to regulatory and other approvals.

“The company continues to pursue its counter-cyclical growth strategy and to evaluate selective opportunities to complement its existing portfolio,” said Sound Energy in a company statement on its website.

In addition to the news on Meridja, Sound revealed that the preliminary petrophysical analysis of the first Tendrara well confirmed the presence of a number of gas bearing levels and a total net pay of 91 feet in the TAGI reservoir. This is ahead of initial expectations. 

Sound plans to drill a second well at Tendrara in the near future.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Scottish Government Reveals New Subsea... (Jan 20)
 -  SOFF Secures Services Contract for Jan... (Jan 20)
 -  NPD Grants Lundin Permit for Appraisal... (Jan 20)
 -  Lion: AMT-1 Well Abandoned After Stuck... (Jan 20)
 -  Unite: Workers 'Deeply Unhappy' About ... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours