ound Energy has reopened the search for a partner at Sidi Moktar, the only exploration permit it still holds in Morocco, according to its half-year report published on September 17. The London AIM-quoted company would offer a partner a material position in the 4,712 km2 onshore permit, in the Essaouira Basin.
The document sets out a contractual situation to be regularized: the permit’s initial period expired in April 2026, and ONHYM has sent the company a claim for not completing the minimum exploration work program. Sound Energy says it has accrued what it considers it owes.
The company comes to that discussion unencumbered. The sale of its residual interest in Tendrara, completed in August for $57.0 million, let it repay all its term loans, and it reported $9.8 million of cash at the end of August.
Its annual accounts had earlier booked an impairment of roughly £12.5 million on Sidi Moktar.
The permit will thus have changed status without changing content, going from an asset carried to a file for sale.
Photo: Yassinoxinox, CC BY-SA 4.0.
Sound Energy plc - Sound Energy plc - Half-year Report, six months ended 30 June 2026
Sound Energy plc - Sound Energy plc - Final Results for the year ended 31 December 2025
Médias24 - Sound Energy relance la recherche d’un opérateur pour son bloc onshore Sidi Moktar
