Sound Energy has increased its stake in onshore development in Morocco.
The firm, which focuses on the Mediterranean, has increased its stake in the Meridja exploration permit to 55%.
A company spokesperson said: “The Meridja licence area is adjacent to the Tendrara licence and is a highly prospective 9,000 Km2 area with the same fundamental geology as Tendrara.
“The company continues to pursue its counter-cyclical growth strategy and to evaluate selective opportunities to complement its existing portfolio.”
Elsewhere, the firm confirmed its Tendrara well has since been completed.
A spokesperson added: “The preliminary petrophysical analysis confirms the presence of a number of gas bearing levels and a total net pay of 28 metres in the TAGI reservoir. This is ahead of initial expectations.
“A further announcement will be made following the completion of operations and when the results of the well test are confirmed.
“In anticipation of drilling of the second well at Tendrara, the Company has now applied for the first complementary period under the licence terms. This period triggers a commitment to a second well.”
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