Extensions Attijariwafa Term sheet ONEE Agreement
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596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018.
Sound Energy plc
("Sound Energy" or the "Company")
Extensions to Attijariwafa Term sheet and ONEE Gas Sales Agreement
Sound Energy (AIM: SOU), the transition energy company, confirms the extension of both the ONEE (Office National de l'Electricité et de l'Eau Potable) Gas Sales Agreement ("GSA") and the Attijariwafa bank funding offer until 31st December 2023.
Further to announcement of 28th June regarding the conditioned financing offer by Attijariwafa bank, the Company confirms that it is in discussions with ONEE under the auspices of the Ministry of Energy to conclude the amendments to the GSA to the lender's satisfaction, in order to complete the necessary conditions precedent to the Conditional Offer.
Commenting, Graham Lyon (Executive Chairman) said:
"Various elements within the GSA are being amended to meet the debt funders criteria and to meet international standards. As such, Sound Energy, ONHYM, ONEE and Attijariwafa bank are engaged under the auspices of the Ministry of Energy to conclude a revised GSA by year end."
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