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Sound Energy names new non-exec chairman

Published: 07:15 05 Jul 2016 BST

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James Parsons, chief executive of Sound said: "It is with great pleasure that I welcome Steve as chairman.”

Experienced  director  at Sound Energy PLC (LON:SOU) Stephen Whyte has been elevated to the role of non-exec chairman of the oil and gas firm with immediate effect, the firm said.

He has over 25 years' experience in the oil and gas industry and was chief operating  officer at Galp Energia for three years and prior to that spent a further three years as senior vice president commercial at gas behemoth BG Group  (LON:BG.) and 14 years at Royal Dutch Shell Group (LON:RDSB).

James Parsons, chief executive of Sound said: "It is with great pleasure that I welcome Steve as chairman. 

"I know that his connectivity to institutional and private equity investors will be invaluable in the next stage of evolution of our business and I look forward to success together."

Sound noted it did not intend to appoint an additional director in the short term, with a view to securing a structural cost reduction.

Earlier this month, the group said its first well at Tendrara, onshore Morocco, have indicated gas bearing levels and it is readying to drill a second well.

The preliminary petrophysical analysis showed a total net pay of 28m in the TAGI reservoir, which Sound said was ahead of its initial expectations.

Further details will be released when the well and testing are completed, Sound said.

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