(Ecofin Agency) - Sound Oil PLC, an oil company listed in London with assets in Italy and Morocco, announced, on 24 September in its unaudited interim report for the six months ending on 30 June, its change of name to Sound Energy PLC, with effect from 1^st October. The change aims to "better reflect our increasing focus on gas", explained Simon Davies, Chairman of the oil and gas company with activities centred on the Mediterranean region with assets in production and exploration marked by discoveries in the evaluation phase.

This, while the executive team of the British company, under the leadership of Managing Director James Parsons, "executes a clearly defined ambitious strategy on Mediterranean gas", he underlined.

According to Davies, Sound Oil is in the process of finalising preparations for drilling its first gas well in Morocco and has succeeded, brilliantly during the period under review, in having the position of operator with 55% interest in the onshore Tendrara licence.

Tendrara comprises eight blocks, covering in total 14,500 km2 in the north-east of Morocco, and has available 4400km of seismic data 2D and 500 km2 of seismic 3D. "Morocco is a stable country, is growing fast and has a high consumption of gas with high prices and competitive fiscal conditions", said Simon Davies.

Sound Oil PLC has completed the first semester on an unaudited cash balance of €24.8 million.