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Sound Energy buoyed by funding news while 88 Energy investors wait patiently

Proactive Investors oil and gas correspondent Jamie Ashcroft talks through today's funding offer for Sound Energy PLC's (LON:SOU) eastern Morocco gas project.

The indicative, non-binding proposal is from Advisory & Finance Group Investment Bank (AFG), a Moroccan financial institution that funds Oil & Gas Investment Fund (OGIF), Sound Energy’s partner and soon-to-be major shareholder.

Ashcroft also puts 88 Energy Plc (LON:88E, ASX:88E) under the microscope -- telling Andrew Scott that Icewine-2 has yet to deliver the sort of decisive result that investors have been hoping for.

The Alaska-focussed explorer, in a stock market statement, told investors that a week after restarting flow back operations the Icewine-2 is presently flowing back frack fluid at a rate of 70 barrels of oil per day.

Quick facts: Sound Energy PLC

Price: 3.015 GBX

AIM:SOU
Market: AIM
Market Cap: £32.55 m
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Investor Update: Sound Energy agrees deal to sell stake in East Morocco

Headlines from the Proactive UK newsroom. Sound Energy (LON:SOU) has signed a preliminary agreement to sell just over half its stake in its Tendrara licences in East Morocco for US$113mln. The consideration is US$54mln cash and the rest is a carry for future capital...

on 6/11/19

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