From PetroMaroc Q1 2018 results5 Jun 2018 13:20
Dated 31at May 2018
" Subsequent to the quarter-end, the Company disposed of its residual 4,658,705 Sound Energy plc ordinary shares, with the cash proceeds totaling Cdn $3.3 million. PetroMaroc continues to retain a material upside with its ownership of the Sidi Moktar Net Profit Interests. Sound Energy's near-term Sidi Moktar work commitments include acquiring and processing 500 kilometres of 2D seismic and a short well test of the Koba-1 well, with the additional optional work programme commitments including two exploration wells with a minimum Liassic objective and acquisition and processing 150 square kilometres of 3D seismic. The Sound Energy work program is well conceived and PetroMaroc remains wholly supportive of management's efforts and strategy'. 'Following repayment of the secured debentures, cash balances held and the material upside of the Sidi Moktar Net Profits Interests, the Company is now carefully considering potential accretive business development opportunities' ".