Morocco's L'Office National des Hydrocarbures et des Mines (ONHYM) has approved Sound Energy's entry into the optional Complementary Period under the exploration permits at Anoual that cover 8,873 sq km in eastern Morocco
While still subject to approval from the Moroccan Energy and Finance Ministerial, Sound has received go-ahead from ONHYM on a 18-month extension of the permits to 8 July 2024, and the merging of first and second complimentary periods into a single complimentary period of three years and eight months that extends to 7 March 2028.
The Anoual exploration permits now make up 10 years and six months since 2017.
In the intial period, Sound has acquired FTG-aerogradiometry and 2D seismic data for 600 kms. It has also conducted several geological and geophysical studies.
Drilling plans
For the complimentary period, the company will be drilling one exploration well with a Triassic objective, and also have the option of acquiring 150 sq kms of 3D seismic. If the first well yeilds positive results, the company will consider the drilling of another exploration well with a Triassic objective. The period will also include the drilling of the M5 exploration well.
John Argent, Sound Energy's vice-president-geoscience, said, "We are pleased to have secured these improved and extended terms across our Anoual exploration permits and progress into the next phase of exploration across these permits. We thank our partner ONHYM for their continued support during the constructive discussions we have had and, as partners, we await the necessary Ministerial approvals to conclude such that we can progress with our exploration activities. The company looks forward to updating stakeholders on our drilling plans to unlock the compelling potential of this basin leveraging the gas infrastructure we are developing at the TE-5 Horst."
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