More innovative investment from Schlumberger for Sound Energy

Sound and Schlumberger have agreed to extend their partnership under the existing Field Management Agreement. In an era where more innovative financing arrangements are being seen, Schlumberger will be granted 27.5% interest in the Meridja and Tendrara Relinquished Areas in exchange for providing services.

Schlumberger will carry out the upcoming geophysical programme which will include:

• 2,600km of new 2D seismic covering the Paleozoic across the Tendrara and Meridja areas; and
• 24,000km² of gravity gradiometry

The programme has an estimated value of USD27.2 million and will be completed over the next 12 months in stages, with an updated prospect inventory produced at each stage.