(Correcting Sound Energy shares rose by 38% on Thursday.)
(Alliance News) - Sound Energy PLC on Friday said it hasn't signed an agreement on a Moroccan liquefied natural gas plant, responding to local media reports.
Shares in Sound, a Kent-based gas exploration and production company, were down 6.1% to 1.69 pence in London on Friday, after climbing by 38% on Thursday.
Sound is in exclusive talks with Italfluid Geoenergy SRL to rent a micro liquefied natural gas plant in the Tendrara field in Morocco. The talks were first announced on December 23.
Negotiations "continue positively and are well advanced", but no agreement has yet been reached. Talks will continue after the exclusivity expires on March 31, Sound said.
By Ivan Edwards; ivanedwards@alliancenews.com
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Sound Energy (SOU)