Sound Energy plc (AIM:SOU) entered into a binding agreement to acquire 25% working interest in three onshore gas permits in Morocco from Maghreb Petroluem Exploration S.A. for £3.7 million in stock on January 14, 2016. As consideration, Sound Energy will, on completion of the acquisition, issue 21.8 million new ordinary shares to Maghreb Petroluem Exploration (MPE) and grant MPE a 1.6% net profit interest in any future cash flows from the Kechoula discovery. The transaction is subject to regulatory approvals. As of December 12, 2016, the transaction received the regulatory approvals. Patrick d'Ancona, Chris McMahon, and Alexandra Roper of Vigo Communications acted as public relations advisors in the transaction. Azhic Basirov, David Jones, and Ben Jeynes of Smith & Williamson acted as financial advisors for Sound Energy. Sarah Wharry and David Porter of Cantor Fitzgerald Europe acted as brokers in the transaction.

Sound Energy plc (AIM:SOU) completed the acquisition of 25% working interest in three onshore gas permits in Morocco from Maghreb Petroluem Exploration S.A. in January 2016.