May 21, 2019 / 12:56 PM / 2 months ago

BUZZ-Sound Energy: Moroccan well test disappointing

** Shares of Moroccan focused upstream gas company down -32.7% at 11.6 pence, hits lowest since Dec. 2018

** Co says TE-10 gas discovery at Tendrara in Eastern Morocco, although having flowed hydrocarbon gas to surface, has not achieved commercial flow rates following the stimulated well test undertaken with partner Schlumberger

** Co says initiated a structural cost reduction programme aimed at materially reducing ongoing operating expenses, including reductions in staff and staff costs (Reporting by Justin George Varghese in Bengaluru)

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