Sound Energy will have to wait to sell part of its assets to Tendrara (Oriental region). The British oil and gas company says that the non-binding agreement with a company specializing in the development and investment in energy assets based in the UK ended on February 14, but the sale was not completed. The company, as a reminder, intended to sell its assets for more than MAD 1 billion (113 million dollars).
According to her, the company interested in the assets was unable to present proof of funds “to the satisfaction of the business”. Negotiations continue, however, between the two parties. Sound Energy plans to continue producing liquefied natural gas (LNG) on the TE-5 well on the Tendrara concession in order to generate cash flow.