21: Sound Energy PLC (LON:SOU) James Parsons, Chief Executive Officer
October 19, 2018
Sound Energy plc is a growth focused and private investor centric Moroccan gas explorer.
We are listed on AIM and benefit from:
a low cost, multi Tcf potential onshore gas discovery
a strategic partnership with Schlumberger - one of the largest companies in our sector
two supportive cornerstone investors
a potentially transformational drill programme, and
a strong retail shareholder base
We are pursuing an onshore gas strategy underpinned by strong gas market fundamentals, which is proving very robust to the current oil price environment and to an increasingly carbon-conscious world. Gas is, rightly, seen as a cleaner alternative to coal and oil.
The energy sector is in a period of some transition, with oil prices having fallen significantly since 2014, which has put considerable strain on the global oil & gas industry, despite the recent partial recovery in oil prices. We observe a “new order” emerging, with the market increasingly rewarding companies with low debt levels, strong management, cash on the balance sheet and a bias for gas.
Despite the challenging sector backdrop, Sound Energy is positioned in a sweet spot – analogous to being in the peaceful eye of a violent storm – with an opportunity to grow boldly and counter-cyclically whilst valuations are low and competition is limited.
We are focused on unlocking the Moroccan gas promise, which includes:
Proving further volumes with three bold exploration wells in Eastern Morocco (starting mid 2018), each with multi Tcf potential
De-risking of its 31 Tcf exploration potential in Eastern Morocco and up to 9 Tcf in Sidi Moktar through shooting new seismic and aerial gradiometry
Development of its existing 0.6 Tcf gas discovery
Consolidating our onshore gas position in Morocco
So, in summary, Sound Energy is a focused on “shaping moves” and working to deliver a substantial gas company.
Chief Executive Officer