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Https://www.soundenergyplc.com/investors/regulatory-news-rns/rns-announcement/?rid=4341266

Https://www.oilandgasmiddleeast.com/news/npcc-petrofac-samsung-engineering-named-top-epc-contractors

Https://www.oilandgasmiddleeast.com/news/adnoc-close-to-awarding-500-million-contract-for-major-carbon-capture-project

Https://www.constructionweekonline.com/projects-tenders/saudi-aramco-scraps-multi-billion-dollar-zuluf-contract-with-mcdermott

Https://twitter.com/soundenergyplc/status/1691330373412868096?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Https://www.soundenergyplc.com/media/xcmoocr1/investor-meet_final-withdisclaimer.pdf

https://www.soundenergyplc.com/media/k2bphqwc/01jp_sou-2023-06-28-flash-note.pdf

https://www.youtube.com/watch?v=NEDMXbT6HJI

https://www.calvalleypetroleum.com/

Https://twitter.com/soundenergyplc/status/1688434768785162242?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Https://www.atalayar.com/en/articulo/economy-and-business/new-gas-prospecting-increases-moroccos-natural-gas-reserves-exponentially/20230614114055186559.html

Https://www.soundenergyplc.com/media/xcmoocr1/investor-meet_final-withdisclaimer.pdf

Thank you for all the questions we have received so far - make sure you have registered on https://investormeetcompany.com/sound-energy-plc/register-investor…… to attend our Q&A session on 5th July at 6pm. We look forward to seeing you there so please register and submit your questions by 9am tomorrow.

Https://www.arabianbusiness.com/industries/energy/adnoc-gas-announces-1-34bn-plan-for-natural-gas-pipeline-expansion

Https://www.atalayar.com/en/articulo/economy-and-business/morocco-will-capitalise-the-second-phase-of-sound-energys-project-in-tendrara/20230629121813187448.html

Https://www.soundenergyplc.com/media/k2bphqwc/01jp_sou-2023-06-28-flash-note.pdf

The first financing of its size for a gas field development in Morocco

Commenting, Graham Lyon (Executive Chairman) said:

"We are delighted to have received the conditioned offer from our debt Arranger and lead bank Attijariwafa bank for an increased amount of MAD 2.365 billion. The majority of the conditions precedent to their offer are to be expected and as a result the Company has been advancing a number of these for these for some time. We look forward to working with the Arranger to conclude on what will be the first financing of its size for a gas field development in Morocco and further announcements will be made, as appropriate, in due course."

Notification of Investor Presentation

Sound Energy (AIM: SOU) the AIM listed transition energy company is pleased to announce that Graham Lyon, the Company's Executive Chairman, together with Garry Dempster, Chief Financial Officer will be holding a live Investor Presentation and Q&A session via the Investor Meet Company platform on 5 July 2023 at 6.00 p.m. (UK Local time).

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9.00 a.m. the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and arrange to meet Sound Energy via:

https://www.investormeetcompany.com/sound-energy-plc/register-investor

Investors who already follow Sound Energy on the Investor Meet Company platform will automatically be invited.

For further information visit www.soundenergyplc.com follow on twitter @soundenergyplc

or contact:

Conditions Precedent to the Conditional Offer:

o Governmental and Ministerial approvals.

o Tax authority clearance of loan structure.

o Amendment of certain Governance documents to lenders satisfaction.

o Amendment of Gas Sales Agreement to lenders satisfaction.

o Conclusion of Pipeline interconnection agreements to the lenders' satisfaction.

o FEED update to lenders satisfaction & agreement(s) in place with different contractors such as EPC, Rig provider, O&M etc.

o Various ancillary plans and budgets.

o Completion of further DD (including insurance, E&S, Tax, etc.) to be satisfactory for the lenders.

o Finalisation and entry of binding Loan Financing documentation in satisfactory form for the lenders.

o First drawdown from debt facility conditioned to simultaneous capital contribution in ensuring maximum gearing of 65%.

· Long stop date to the Conditional Offer: 30 September 2023.

Commenting, Graham Lyon (Executive Chairman) said:

"We are delighted to have received the conditioned offer from our debt Arranger and lead bank Attijariwafa bank for an increased amount of MAD 2.365 billion. The majority of the conditions precedent to their offer are to be expected and as a result the Company has been advancing a number of these for these for some time. We look forward to working with the Arranger to conclude on what will be the first financing of its size for a gas field development in Morocco and further announcements will be made, as appropriate, in due course."

RNS Number : 1163E

Sound Energy PLC

28 June 2023

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

28 June 2023

Sound Energy plc

("Sound Energy" or the "Company")

Project Finance Update

Attijariwafa bank conditioned project financing offer of up to US$237 million, the first of its size for a gas field development in Morocco

Sound Energy (AIM: SOU), the transition energy company, is pleased to provide an update in relation to the project debt funding for the phase 2 development of the Tendrara Production Concession and announces the receipt of a conditioned offer made by Attijariwafa bank.

Project Debt Funding

The Company announced on 23 June 2022 that it had entered into an Arrangement and Mandate letter (the "Mandate") with Attijariwafa bank (the "Arranger"), a Moroccan multinational bank and one of the leading banks in Morocco, under which the Company mandated the Arranger in relation to the arrangement of project debt financing for the Phase 2 development of Sound Energy's Tendrara Production Concession (the "Agreement").

Under the Agreement, as amended and extended, the Arranger was mandated to arrange a long-term project senior debt facility with a term of no more than 12 years of up to 2.250 billion Moroccan dirhams.

The Company is pleased to announce that the Company, on behalf of the Tendrara Production Concession partners, have now received a conditioned offer from the Arranger for a maximum financing of MAD 2.365 billion (c.US$237 million), proposed to be 100% underwritten by the Arranger, subject to the conditions precedent to the conditioned offer being satisfied prior to 30 September 2023 (the "Conditional Offer").

Material terms of the Conditioned Offer

· Borrower: A to be newly incorporated Tendrara Production Concession partner special purpose vehicle incorporated under Moroccan law (the "Borrower").

· Loan amount: MAD 2.365 billion (approx. US$237 million) subject to a maximum gearing level of 65%.

· Term: 12-year term including 2 year grace period from first drawdown.

· Security: Customary security package over Borrower and Tendrara Production Concession.

· Interest rate: Optionality provided to the Borrower to select from fixed rate, variable and fully floating alternatives with at customary margins for hydrocarbon infrastructure development project financing facilities.

· Use of loan proceeds: Design, drilling, construction and operation of wells, a treatment facility (CPF) and a gas pipeline (from CPF to GME) to transport and sell the natural gas produced under the Tendrara Production C

We remain focused on closing out legacy contracts, with five of the remaining eight contracts expected to be completed(2) during the second half of the year or early in 2024. On the Thai Oil Clean Fuels contract, good progress is being made on the construction phases of the project. The execution plan remains in line with the update provided with the FY22 year end results and discussions with the client in relation to cost recoveries are ongoing.

Bidding activity remains high with a total pipeline scheduled for award by December 2024 of approximately US$57 billion, of which US$14 billion is scheduled for award in 2023.

Asset Solutions

Order intake(1) in the first half is expected to be approximately US$1.0 billion, with a book-to-bill of approximately 1.4x, comprising both new contract awards and extensions in both the Asset Operations and Wells and Decommissioning service lines.

Asset Solutions continued to deliver robust performance in the first half, with revenue expected to be approximately US$0.7 billion.

The EBIT margin in the first half is expected to be between 2%-3%. We expect EBIT to be weighted to the second half of the year, with full year EBIT in line with guidance.

Asset Solutions has a strong pipeline of opportunities with US$16 billion scheduled for award by December 2024, of which US$7 billion is scheduled for award in 2023.

In New Energies, we have continued to secure further early-stage awards and strategic alliances with technology providers in the first half, including an exclusive partnership with OCI Global to deliver their gasification-based green methanol projects. We remain well positioned over the medium-term to secure engineering, procurement, and construction scopes of work, as well as other execution phase project work, as projects reach final investment decision.

Integrated Energy Services (IES)

IES’ financial performance in the first half of the year is expected to be in line with the guidance provided in April 2023. Net production is expected to be 0.6 million barrels of oil (mboe) for the first half of the year (H1 2022: 0.6 mboe).

ORDER BACKLOG

The Group's backlog(3) is expected to significantly increase to approximately US$5.6 billion at 30 June 2023 (31 December 2022: US$3.4 billion), reflecting strong order intake in both E&C and Asset Solutions.

CASH FLOW AND NET DEBT

We continue to target a broadly neutral free cash flow for the full year, with a reduction in working capital weighted to the second half. We therefore expect free cashflow to be negative in the first half, reversing in the second half. As a consequence, net debt is expected to increase at 30 June 2023, and to reduce by year end.

Conference call

Afonso Reis e Sousa, Chief Financial Officer, will host a conference call for analysts and investors at 8.30am today.

PETROFAC LIMITED

TRADING UPDATE

Petrofac issues the following pre-close trading update for the six months ending 30 June 2023.

Significant increase in Group backlog to US$5.6 billion at 30 June 2023 (31 December 2022: US$3.4 billion) with strong order intake in both E&C and Asset Solutions Asset Solutions and IES performance in line with expectations E&C expecting an EBIT loss of approximately 20% on revenues of US$0.5 billion, which includes write-downs of over US$50 million on receivables from historical contracts to protect full year cash flows Well positioned to continue backlog growth in both E&C and Asset Solutions, with a healthy Group pipeline scheduled for award in the next 18 months of US$73 billion Free cash flow negative in the first half, continue to target broadly neutral free cash flow for the full year

Tareq Kawash, Petrofac's Group Chief Executive, commented:

"In the first six months of the year we have announced over three and a half billion dollars in new work across E&C and Asset Solutions, in both the traditional and new energy sectors, and continue to pursue a strong pipeline of future opportunities in core geographies. By further progressing our plans to strengthen the financial position of the Group by unlocking the working capital built up through the pandemic, and building on the momentum of the significant awards won in the first half, we are focused on delivering Petrofac’s potential. We have an exceptional EPC and Operations capability that is well positioned to deliver and support critical energy infrastructure for the world’s leading resource holders.”

DIVISIONAL HIGHLIGHTS

Engineering & Construction (E&C)

Order intake(1) in the first half is expected to be approximately US$2.5 billion, resulting in more than a doubling of E&C backlog. Awards comprise the first platform contract under the framework agreement with TenneT to deliver 2GW offshore wind transmission systems in partnership with Hitachi, a major petrochemical project for Sonatrach in Algeria, and a follow-on EPC contract with ORLEN Lietuva on the existing project site in Lithuania. Of the US$1.5 billion of opportunities at preferred bidder stage at the end of 2022, approximately US$1.2 billion have now been awarded.

First half revenues are expected to be around US$0.5 billion reflecting the lower levels of activity due to lower opening backlog compared with the prior year. E&C is expected to report a first half EBIT loss of approximately 20%, comprising an operating loss and one-off write-downs of more than US$50 million in receivables from historical contracts to protect full year cash flows. E&C results continue to reflect the impact of onerous contracts with no margin recognition and adverse operating leverage due to low levels of activity.

Petrofac extends relationship with NEO Energy to optimise life of field

Petrofac, a leading provider of services to the global energy industry, has been awarded an extension to its integrated services contract with NEO Energy.

The life of field extension, worth £250 million, will see Petrofac continue to deliver operations, maintenance, engineering and construction support for NEO Energy’s UKCS-based floating production storage offtake (FPSO) vessel, Global Producer III (GPIII).

Current forecasts expect the asset to remain fully operational until at least 2026 when it is due for its next reclassification by DNV. In parallel, both NEO Energy and Petrofac are working hard to further extend field life beyond this date.

Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions business, said:

“Our partnership with NEO Energy has seen us collectively overhaul production efficiency, maintenance execution and safe operations. Our proven approach to late life asset transformation, including a robust programme of continuous improvement and deployment of digital tools, has again played out to significantly extend asset life.”

Today's announcement builds on Petrofac's proven track record of supporting NEO Energy since 2020 with operations, maintenance, engineering and construction under our integrated delivery model. This is in addition to Well Management and Well Operator support for 25 wells across four fields in the Central North Sea UK, which was extended for five years in 2022.