TPI provides its latest research note on Sound Energy plc (SOU.L).

The Moroccan focused upstream oil and gas company yesterday released an update in relation to its micro liquified natural gas (‘mLNG’) phase 1 development plan for the TE-5 Horst development (the ‘Phase 1 Development’) at its Tendrara Production Concession (the ‘Concession’).

The signing of a Heads of Terms (‘HoT’) and award of exclusivity with a Moroccan conglomerate (the ‘Partner’), which has significant domestic liquified petroleum gas, butane and propane distribution and marketing operations, for the purchase of LNG represents an important step toward delivery of Sound’s production development plans.

Key commercial terms have been outlined along with the proposed Partner’s partial funding in the form of both an equity subscription and a secured commercial loan.

This is being pursued in tandem with the Concession’s full field development plan that is centred around the development of a 120km pipeline and central processing facility (the ‘Phase 2 Development’).

Read More SoundEnergyplc_ResearchUpdate_30June2020__FINAL_BG.pdf

We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Sound Energy plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.


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SOU - TPI provides its latest research note on Sound Energy plc (SOU.L).SOU - TPI provides its latest research note on Sound Energy plc (SOU.L).
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