Tendrara: Schlumberger Field Management Agreement
Sound Energy, the European / Mediterranean focused upstream oil and gas company informed that further to the memorandum of understanding and term sheet previously signed with Schlumberger, that it has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (the "FMA") in relation the Tendrara licence, onshore Morocco (the "Tendrara Licence"). · Schlumberger will be granted an upside linked to production performance. As announced…
Sound Oil Negotiating farm-in to Tendrara Licence, Morocco
Sound Oil has been granted a 30 day period of exclusivity from the Moroccan Oil and Gas Investment Fund ("OGIF") in relation to a potential farm in to the Tendrara licence, onshore Morocco (the "Tendrara Licence"). The grant of exclusivity initiates exclusive negotiations between Sound Oil and OGIF and follows the submission of an indicative offer letter from Sound Oil to OGIF in respect of the Tendrara Licence, the indicative terms of which are described below. The onshore…