Sound Energy (SOU)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.95p
   
  • Change Today:
      0.016p
  • 52 Week High: 2.05
  • 52 Week Low: 0.64
  • Currency: UK Pounds
  • Shares Issued: 1,963.12m
  • Volume: 2,171,800
  • Market Cap: £18.67m
  • RiskGrade: 409

Sound Energy mulls disposal of Moroccan acreage

By Iain Gilbert

Date: Wednesday 22 May 2019

LONDON (ShareCast) - (Sharecast News) - Exploration group Sound Energy revealed on Wednesday that it was considering offloading its Moroccan operations following yet another well disappointment.
While Sound Energy assured investors that results from its TE-10 well did not diminish the overall assessment of its Eastern Morocco acreage, the group was now considering whether or not a sale of the East Morocco acreage would be a preferred option ahead of the final investment decision for the Tendrara TE-5 production area.

The AIM-listed group noted that after five wells it still saw several high impact plays in the region, including the TE-5 discovery and production concession, but chose to suspended plans to drill the TE-11 well as it advances a marketing exercise.

Chief executive James Parsons said: "We are now approaching the final stages of Sound Energy's strategy to drill a bold exploration programme in Morocco and then explore options for early monetisation.

"Should the board receive the right price for the company's East Morocco acreage, our intention would be to return the net proceeds of any divestment to Sound Energy shareholders in the most efficient manner possible."

As of 0930 BST, Sound Energy shares had shot up 9.35% to 11.70p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sound Energy Market Data

Currency UK Pounds
Share Price 0.95p
Change Today 0.016p
% Change 1.71 %
52 Week High 2.05
52 Week Low 0.64
Volume 2,171,800
Shares Issued 1,963.12m
Market Cap £18.67m
RiskGrade 409

Sound Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.72% above the market average76.72% above the market average76.72% above the market average76.72% above the market average76.72% above the market average
13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average13.16% above the sector average
Price Trend
49.26% below the market average49.26% below the market average49.26% below the market average49.26% below the market average49.26% below the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
69.95% above the market average69.95% above the market average69.95% above the market average69.95% above the market average69.95% above the market average
1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sound Energy Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:20 49,139 @ 1.01p
16:16 114,142 @ 1.00p
16:16 137,722 @ 0.97p
16:16 307,026 @ 0.97p
16:14 616,286 @ 0.97p

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