Philip Whiterow
Sidi Moktar covers 3,000 sq km and lies in the Essaouira basin.
Sound is looking to buy a company that owns a 25% working interest in the Sidi Moktar licence.
Sound Oil (LON:SOU) has been granted a two month exclusive period over another asset in Morocco.
Maghreb Petroleum has given Sound Oil that amount of time to carry out due diligence work and negotiate a deal to buy its subsidiary that owns a 25% working interest in the Sidi Moktar licence.
Sidi Moktar covers 3,000 sq km and lies in the Essaouira basin, which contains multiple Jurassic gas discoveries.
Sound sees Morocco as way to both increase its presence around the Mediterranean and diversifying its current focus on Italy.
In May, it inked a deal that may eventually see it take a 55% stake in the Tendrara licence area in the north east of the country.
