RNS Number : 0853W
Sound Energy PLC
17 December 2021

17  December  2021

Sound Energy plc

("Sound Energy" or the "Company") 


Phase 1 Development LNG Sale & Purchase Agreement Update


Sound Energy, the energy transition company, announces that material progress has continued to be made towards satisfying  the remaining conditions precedent to the Phase 1 LNG Gas sales Agreement (the "LNG GSA") announced by the Company on 29 July 2021.


The LNG GSA, in relation to the Phase 1 liquified natural gas based development of the Company's Tendrara Production Concession, is in addition to the Phase 2 development gas sales agreement announced by the Company on 30 November 2021 in relation to the wider, pipeline based, development plan, and had been expected to become unconditional on or before 17 December 2021.


Reflecting ongoing progress, the parties to the LNG GSA now anticipate execution of final documentation, including in relation to the key loan note agreement described in the Company's announcement of 29 July 2021, and the waiver of any outstanding conditions precedent shortly - with documentation in the final stages of preparation. As a result, the LNG GSA long stop date has now been revised to 31 December 2021.


Graham Lyon, Sound Energy Chairman, commented:


"With much progress made we are very pleased to be nearing the finalisation and execution of documentation which will enable the Phase 1 LNG GSA to become unconditional and for the Phase 1 Notice to Proceed to be provided thereafter. I look forward to updating shareholders in this regard in due course"


Further announcements will be made, as appropriate, in due course.



For further information please contact:


Vigo Consulting - PR Adviser

Patrick d'Ancona

Chris McMahon 


Tel: 44 (0)20 7390 0230

Sound Energy

Graham Lyon, Executive Chairman




Cenkos Securities - Nominated Adviser

Ben Jeynes 

Peter Lynch


Tel: 44 (0)20 7397 8900

SP Angel Corporate Finance LLP - Broker

Richard Hail, Sam Wahab


Tel: 44 (0)20 3470 0470



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