Sound Energy PLC (LON:SOU) has confirmed that its partner Schlumberger has now converted its interest in the Anoual permits, part of the Tendrara exploration venture, into a direct stake in the project.
As a result of the procedural milestone, Sound’s project equity stake amounts to 47.5% alongside Schlumberger with 27.5%, and Moroccan state vehicle ONHYM holding the remaining 25%.
READ: Sound Energy awaits start of TE-10 well testing programme
It concludes the process across all the component parts of the Greater Tendrara project area, all of which is now 27.5% owned by Schlumberger.
Meanwhile, the process is ongoing to convert Schlumberger’s interest in the TE-5 Horst discovery into a direct stake.