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UPSTREAM
Sound Energy announces

Sidi Moktar permits update

Sound Energy, the Moroccan focused upstream
gas company, has reported a 24 month extension
to the initial period of the Sidi Moktar Permits,
onshore Morocco.
On February 12, 2018, the Company
announced the award of a new petroleum agree-
ment related to the Sidi Moktar Permits. The Sidi
Moktar Permits cover 4,712 square km in the
Essaouira basin, central Morocco with an initial
period of 2 years and 6 months. The Company
holds an operated 75% position in the permits
with the remaining 25% held by L’Office National
des Hydrocarbures et des Mines (ONHYM).
Due to further disruption caused by the
impact of the COVID-19 pandemic, during The reconnaissance programme and baseline off-takers and likely equity. The latter will be a
which the Company has been in regular dia- survey consist of the traversing of the proposed function of the agreed field development con-
logue with the regulatory authorities, ONHYM infill seismic lines for a planned acquisition cam- cept and the associated capex.
has approved a 24-month extension to the ini- paign in the 2021 dry season. The programme The next stage of this work effort will be
tial period of the Petroleum Agreement in order will capture details such as topography, existing the preparation of the Field Development Plan
for the Company to complete the committed access roads, drainage, vegetation cover, soil (FDP) and Preliminary Information Memoran-
work programme. Subject to the issuance of the types, rock exposures, sampling of any natural oil dum (PIM) and associated suite of lender due
Joint Arreté signed by the Minister in charge of and gas seeps, areas of development (construc- diligence reports, in preparation for financing
Energy and Minister in charge of Finance, the tions and cultivation), plus any sites of cultural, discussions. Bowleven has engaged a financial
length of the initial period will now be four years religious or historic importance. The duration of advisor to assist with this.
and six months, commencing April 9,2018. The the programme is expected to be approx. 30 days As part of the FEED process, the JV partners
work programme commitments for the initial and is in the final stages of planning and will be are currently reviewing a number of commercial
period remain unchanged. The lengths of the completed before the wet season. options regarding gas offtake and condensate
first and second complimentary periods, which The Cabora Bassa Project encompasses the marketing. Also, as a result of the work restric-
would commence upon the successful com- Mzarabani Prospect, a multi-trillion cubic feet tions imposed by COVID-19, the timeline for
pletion of the recently extended initial period, and liquids rich conventional gas-condensate the project’s Final Investment Decision (FID) is
remain unchanged at three years and two years target, which is potentially the largest, undrilled now expected in mid-2021.
and six months, respectively. seismically defined structure onshore Africa. The The JV continues to benefit from a collabo-
Sound Energy, October 13 2020 prospect is defined by a robust dataset acquired rative working relationship with a wide range of
by Mobil in the early 1990s that includes seismic, stakeholders to obtain the support required to
Invictus to commence gravity, aeromagnetic and geochemical data. reach FID, which represents the key objective in
the short term. This includes the JV obtaining
Invictus Energy, October 11 2020
field operations in the Bowleven still making good the licence extension at Etinde. All parties are
confident of achieving this and will update the
Cabora Bassa Basin market further in the release of Full Year End
results.
Invictus Energy has announced that the Com- progress on Etinde project Bowleven Oil & Gas, October 07 2020
pany is set to commence a field reconnaissance offshore Cameroon
programme in the next fortnight and has com-
pleted a further placement for the equivalent of Despite the challenges of COVID-19, Bowleven, MIDSTREAM
AUD220,000 at a share price of AUD0.066 with together with its joint venture partners, con-
the Mangwana Opportunities Fund under a sec- tinue to make good progress on the Etinde ADM Energy reports
ond tranche of the equity funding agreement as development, offshore Cameroon. As part of
announced on April 30, 2020. the development planning, and following the on 14th cargo lifting
Commencement of field operations in the appointment of TechnipFMC as lead contractor,
Cabora Bassa Project: Following the approval Front End Engineering Design (FEED) work is at Nigeria’s Aje field
of the Environmental Management Plan, easing continuing alongside other workstreams includ-
of COVID-19 related restrictions and the com- ing field optimisation and commercial discus- ADM Energy, a natural resources investing com-
pletion of the final cultural ceremonies in the sions with key stakeholders. pany, is pleased to announce the completion of
Muzarabani and Mbire Districts, the Company The Etinde financing plan will likely com- the 14th lifting at the Aje Field, part of OML 113
will commence field operations in the Cabora prise various layers, including senior project offshore Nigeria in which the Company cur-
Bassa Basin. finance debt, vendor financing from contractors, rently holds a 5% crude entitlement.

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