Project Profile
Value: Undisclosed
Location: adjacent to Tendrara licence, onshore Morocco
Reserves: unknown
Area: 9,000 Km2
Start-up Year: -
Meridja is an exploration license located adjacent to Sound Energy\'s existing Tendrara licence and is a highly prospective 9,000 Km2 area with the same fundamental geology as Tendrara, where Sound Energy expects to drill its first well shortly. Meridja has a pericratonic position and is placed 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. OGIF currently holds a 75% interest in a reconnaissance permit over the Meridja area, with the remaining 25% interest held by Morocco\'s Office National des Hydrocarbures des Mines (ONHYM). In 2016, Sound Energy signed a binding agreement with Oil & Gas Investment Fund S.A.S (OGIF) whereby OGIF has granted Sound Energy an option to acquire a 55% interest in the Meridja permit, onshore Morocco. OGIF has granted the Option to Sound Energy, under which Sound Energy is able to acquire (subject to regulatory and other approvals) a 55% interest in and operatorship of the Meridja exploration permits, once awarded. The Reconnaissance Permit, which was recently successfully extended by OGIF, has an expiry date of 1 August 2016.
Operators:
Oil & Gas Investment Fund S.A.S (OGIF): Operator with 20% interest (if option exercised, otherwise 75%)
Sound Energy: 55% interest (if option exercised, otherwise 0%)
Office National des Hydrocarbures des Mines (ONHYM)