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Pin to quick picksSound Energy Share News (SOU)

Share Price Information for Sound Energy (SOU)

London Stock Exchange
Share Price: 3.80
Bid: 3.805
Ask: 3.99
Change: 0.00 (0.00%)
Spread: 0.185 (4.86%)
Open: 4.795
High: 4.795
Low: 3.80
Yest. Close: 4.55
SOU Live PriceLast checked at -

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Sound Energy drops after poor exploration results and deepened loss

Thu, 19th Sep 2019 11:52

(Sharecast News) - Shares in Sound Energy dropped on Thursday as the oil and gas explorer said a disappointing period had seen poor results from two exploration wells and a deepened interim loss.
The six months ended 30 June saw Sound Energy safely complete the first two wells of its 2018/19 Eastern Morocco exploration campaign on budget but both wells failed to achieve commercial gas flow rates.

Even so, the company is now exploring monetisation options for the Eastern Moroccan portfolio and said it remained confident in its potential following the drilling of five wells and the interpretation of new seismic data, saying that it contains a number of high impact opportunities and plays.

The group said progress is continuing in the advancement of the Tendrara TE-5 development, where front end engineering design work is ongoing and talks are underway over a possible gas sales agreement.

The AIM-traded company has yet to record revenue and booked a loss before tax of £11.5m compared to a loss of £3.4m in the same period the year before.

After raising £2.4m via an equity sale in June, cash and cash equivalents stood at £11.1m at the end of the period, down from £20.5m at the end of December.

Sound Energy shares were down 7.59% at 8.10p at 1149 BST.

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Sound Energy set to partially offload interest in eastern Morocco portfolio

(Sharecast News) - Morocco-focussed upstream gas company Sound Energy updated investors on the ongoing marketing process for its eastern Morocco portfolio on Wednesday.

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Sound Energy drops after poor exploration results and deepened loss

(Sharecast News) - Shares in Sound Energy dropped on Thursday as the oil and gas explorer said a disappointing period had seen poor results from two exploration wells and a deepened interim loss.

19 Sep 19 11:52

Sound Energy Loss Trebles In First Half On TE-10 Well Impairment

(Alliance News) - Sound Energy PLC on Thursday posted a more than trebled loss in the first half of 2019 after its TE-10 well in Morocco failed to achieve a commercial gas flow rate and was in at

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(Alliance News) - Sound Energy PLC on Tuesday said it will raise USD3 million in gross proceeds and will extend its cost reduction programme to include executive directors' pay.The gas

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Sound Energy Reappoints Simon Davies To Chair Role

LONDON (Alliance News) - Sound Energy PLC on Thursday said it appointed Simon Davies as independent non-executive chair of the company with immediate effect.Davies had previously served as

23 May 19 09:41

Sound Energy Shares Jump As Mulls Sale Of Eastern Moroccan Portfolio

LONDON (Alliance News) - Sound Energy PLC on Wednesday said it intends to pause operations in eastern Morocco and consider the disposal of its portfolio in this region.The stock was up 9.1%

22 May 19 09:35

Sound Energy mulls disposal of Moroccan acreage

(Sharecast News) - Exploration group Sound Energy revealed on Wednesday that it was considering offloading its Moroccan operations following yet another well disappointment.

22 May 19 09:33

Sound Energy Shares Sink After Morrocco Gas Discovery Disappoints

LONDON (Alliance News) - Shares in Sound Energy PLC plummeted Tuesday after a gas discovery in Morocco had not achieved commercial flow rates, whilst the firm also announced it was looking to its

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15 May 19 16:11

Sound Energy Board Member Clarkson To Leave After Morocco Work

LONDON (Alliance News) - Sound Energy PLC on Tuesday said Non-Executive Director David Clarkson is to leave the company later in 2019.Sound said he will depart once the company has finished

14 May 19 11:50

Sound Energy "Delighted" With Initial Testing Of Tendrara Well

LONDON (Alliance News) - Gas company Sound Energy PLC said Wednesday it is "delighted" with initial work at the TE-10 well on Morocco's Tendrara concession.Sound has already a

8 May 19 09:08

Sound Energy Receives Gas Sales Proposal From Moroccan Government

LONDON (Alliance News) - Sound Energy PLC has received a gas sales agreement offer from the government of Morocco, it said on Wednesday.The proposed gas sales agreement would cover future a

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Sound Energy Ready To Start Next Phase Of TE-10 Well In Morocco

LONDON (Alliance News) - Gas company Sound Energy PLC on Monday said equipment for work at the Tendrara site in Morocco is now on-site.Earlier in April, Sound said it would carry out a test

29 Apr 19 09:10

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