Discover our journey from exploration, discovery and now to development.

  • 2022

    June

    Appointment of Attijariwafa Bank for debt financing for the Tendrara Production Concession

    March

    Pipeline tie-in agreement to the Gas Maghreb-Europe pipeline with ONEE of the Phase 2 development of the Tendrara Production Concession

    February

    Issue of notice to proceed to Italfluid

  • Journey 1

    2021

    December

    Non-Executive Director announced – Dr Christian Bukovics

    November

    Binding gas sales agreement signed for Phase 2 Tendrara Development

    September

    12-month extension to initial period of Anoual Exploration Permits granted

    August

    Completion of Schlumberger Silk Route Services Limited acquisition

    July

    Binding 10-year LNG sales agreement signed with
    Afriquia Gaz

    June

    Acquisition of additional Eastern Morocco Interest

    April

    Bond restructuring proposals accepted

    March

    Payment for disposal of Badile land

    Journey 3
  • Journey 2

    2020

    December

    Phase 1 Development – letter of exclusivity and extension of LNG heads of terms

    October

    Extension of Sidi Mokthar Permits

    July

    Renegotiation of terms of Anoual Exploration Permits

    June

    LNG heads of terms with Leading Moroccan Energy Group agreed

    April

    Binding MOU on Tendrara Gas Sales Agreement reached with ONEE

    March

    EIA approval received from the Moroccan Ministry of Finance for gas treatment plant and compression station

    February

    Announcement of Micro LNG production plan

Production Focus

Exploration Focus

  • SE 60

    2019

    November

    Sound announces exclusivity for sale of Eastern Morocco. Selling 51% for headline $112 million, solving development funding, and retaining production and exploration upside

    May

    Decision made to undertake a marketing process for the Eastern Moroccan portfolio. Operations have been paused while this marketing process is ongoing

    May

    TE-10 discovery is non-commercial post testing

    April

    ANL Conversion

    March

    Increase in the Company's estimates of minimum GOIP connected to the TE-7 well

    January

    Initial results at TE-10. c. 10.5 million net pay identified. Gas bearing sands interpreted in and below structural closure, potential for significant stratigraphically trapped upside volumes Q1-Q2 – Testing operations at TE-10 were undertaken

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  • SE 79

    2018

    December

    Commencement of drilling at TE-10

    November

    Results of TE-9 drilling show no presence of gas

    October

    Receipt of Moroccan ministerial approval of the new Greater Tendrara Petroleum Agreement. Commencement of drilling at TE-9

    September

    Award of production concession for Tendrara gas discovery

    August

    New petroleum agreement that unites Tendrara and Matarka into the Greater Tendrara licence

    August

    2D seismic acquisition programme in Eastern Morocco is completed

    July

    Conversion of Schlumberger interests in the Eastern Morocco portfolio into joint venture licence participating interests

    June

    Formal farm out process for the Sidi Mokhtar licence initiated

    June

    Heads of terms signed with a consortium for the front end engineering and design, construction and financing of the required infrastructure for a 20 inch pipeline and associated facilities under a ‘build-own-operate-transfer’ (BOOT) structure

    June

    Competent Person's Report received: A1 Prospect (TE-9)

  • 2017

    November

    Completion of Aerial gradiometry at Tendrara, Eastern Morocco

    September

    Start of Tendrara Aerial gradiometry and seismic programme

    August

    Tendrara – Next operation, Three alternatives under consideration

    June

    Badile - Moirago -1, Exploration well in Italy
    Sidi Mokhtar – Koba-1 & Kamar-1, Workover and test of Koba-1 and Kamar-1(Sidi Mokhtar wells)
    CFO Appointment – to be announced

    June

    Start of Sidi Mokhtar Work Programme

    May

    Final TE-8 results and revised estimates

    April

    Schlumberger investment into Anoual (Geophysical Survey (including seismic)with gross cost fully carried)

    March

    Badile Moirago-1 well spud (Italy)

    February

    Tendrara (TE-8) – Prove extension of TAGI discovery and explore the Paleozoic

    January

    Tendrara (TE-7) – Extended well test results

  • 2016

    December

    Inclusion in MSCI Global Small Cap Index

    November

    Successful £26.9 million capital raise

    November

    Results of TE-7 at Tendrara (32mmscf/d after clean up)

    September

    Inclusion on FTSE AIM UK 50 Index

    August

    Results of TE-6 at Tendrara (28m net pay, 17mmscf/d on test)

    July

    Farm out of Badile to Schlumberger

    May

    Receipt of final Badile drilling approval

    April

    Spud of TE-6 (first well at Tendrara, Morocco)

    April

    Receipt of $1 million Indonesian Contingent Consideration

    March

    Introduction of partner to Sidi Mokhtar

    February

    Secured option to acquire Anoual reconnaissance area

    January

    Further Sidi Mokhtar acquisition

  • 2015

    December

    Introduction of Schlumberger to Tendrara

    October

    Acquisition of Sidi Mokhtar licences, consolidating our position in Morocco

    June

    Memorandum of Understanding (“MOU”) with Schlumberger as strategic partner

    May

    Morocco country entry through the onshore gas licences at Tendrara

    April

    Secured further funding from the institutional cornerstone investor

  • 2014

    September

    Purchase of the land required for the Badile prospect

    July

    First gas on the Casa Tiberi field (Marche Region of Italy)

    April

    Introduction of a new Institutional Cornerstone Investor, Continental Investment Partners

  • 2011–2013

    Strategic decision to focus on Mediterranean onshore gas. Acquisition of onshore gas portfolio. Disposal of Indonesian assets

    Achieved first gas from the onshore Rapagnano field in central Italy. Maturation of Italian portfolio