Sound Energy plc (AIM:SOU) entered into a heads of agreement to acquire 50% working interest of three onshore gas permits in Morocco from PetroMaroc Corporation plc (TSXV:PMA) on January 26, 2016. Under the heads of agreement, Sound Energy will acquire PetroMaroc's 50% working interest in and operatorship of three onshore gas permits in Morocco. On completion of the acquisition, Sound Energy will issue PetroMaroc new ordinary shares with a market value of £3.65 million and will grant PetroMaroc, a 10% net profit interest in any future cash flows from the Kechoula discovery and a 5% net profit interest in any future cash flows from structures within the three onshore gas permits in Morocco other than the Kechoula discovery. The transaction is subject to contract and regulatory and other approvals. The deal is also subject to the consent of PetroMaroc's debentureholders, the required third parties consents and applicable shareholder approvals. As of March 8, 2016, Sound Energy signed a binding agreement to acquire 50% working interest three onshore gas permits in Morocco from PetroMaroc. As of September 23, 2016, a revised binding agreement was entered under which any proceeds from a sale (in whole or in part) of the 21.26 million new Sound Energy ordinary shares to be issued to PetroMaroc as consideration on completion of Sound Energy's acquisition of the Sidi Moktar Licences will be shared between Sound Energy and PetroMaroc as follows: PetroMaroc will receive all proceeds from sale(s) up to £0.5 per Consideration Share and sale proceeds in excess of £0.5 per consideration share will be shared equally between PetroMaroc and Sound Energy.  In addition, the long stop date for completion of the acquisition has been extended to December 31, 2016 or such later date as is necessary to satisfy the remaining conditions precedent. As of December 12, 2016, the regulatory approval for the transaction was received. Patrick d'Ancona, Chris McMahon and Alexandra Roper of Vigo Communications acted as PR advisor for Sound Energy plc. Azhic Basirov, David Jones and Ben Jeynes of Smith & Williamson acted as financial advisors for Sound Energy plc. Sarah Wharry and David Porter of Cantor Fitzgerald Europe acted as broker for Sound Energy plc. Sound Energy plc (AIM:SOU) completed the acquisition of 50% working interest of three onshore gas permits in Morocco from PetroMaroc Corporation plc (TSXV:PMA) on January 9, 2017.