SOUND ENERGY PLC

Legal Proceedings Report • Apr 16, 2019

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RNS Number : 3981W

Sound Energy PLC

16 April 2019

16 April 2019

Sound Energy plc

("Sound Energy" or the "Company")

Anoual: Schlumberger Conversion to Direct Licence Position

Sound Energy, the Moroccan focused upstream gas company, is pleased to announce that the process to convert Schlumberger's existing 27.5% interest in the Anoual permits to a direct 27.5% licence position has completed following receipt of the relevant Moroccan Ministerial approvals.

The Company's unchanged interest in the Anoual permits consists of an operated 47.5% participating interest, with the remaining interests in the Anoual permits held by Schlumberger (27.5%) and Morocco's L'Office National des Hydrocarbures et des Mines (25%).

This most recent conversion concludes the process of converting Schlumberger's previously synthetic interests across the Company's Eastern Moroccan exploration portfolio to direct licence positions. Schlumberger now has a direct 27.5% licence interest in the Greater Tendrara Petroleum agreement, as previously confirmed, and the Anoual permits.

The process to convert Schlumberger's 27.5% existing interest in the Tendrara production concession, which contains the TE-5 Horst discovery, is ongoing. Further announcements will be made, as appropriate, in due course.

For further information please contact:

Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon  Kate Rogucheva	Tel: +44 (0)20 7390 0230
Sound Energy James Parsons, Chief Executive Officer  JJ Traynor, Chief Financial Officer	questions@soundenergyplc.com
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: +44 (0)20 7131 4000
RBC Capital Markets - Joint Broker Matthew Coakes Martin Copeland	Tel: +44 (0)20 7653 4000
Macquarie Capital (Europe) Limited - Joint Broker Alex Reynolds Nick Stamp	Tel: +44 (0)20 3031 2000

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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