|Reconnaissance Permit expiry||01-Aug-16|
|NPV||Subject to CPR|
|Prospective Resources||Subject to CPR|
|Sound Energy||Option to acquire a 55% interest in the exploration permit|
Sound has secured an option to acquire a 55% interest in the Meridja permit, located next to its Tendrara license.
The Meridja reconnaissance permit is currently held 75% by Oil & Gas Investment Fund S.A.S (“OGIF”) and 25% by Office National des Hydrocarbures et des Mines (“ONHYM”).
Both Meridja and Tendrara have a pericratonic position and are located between three geologic domains: the inverted High Atlas, the Folded Hercynian Basement and the Non Deformed Saraha Platform.
In Meridja, two main targets have been identified: the Paleozoic formations, which belong to the Hercynian Saharan Platform, and the Triassic Sandstones (TAGI) which belong to the Triassic province.
Currently, 15 leads have been identified with reserves potentially similar in scale to those in Tendrara.