(MENAFN- ProactiveInvestors)Sound Energy (LON:SOU) is in an excellent position with a strengthened portfolio according to broker finnCap. The AIM quoted firm recently expanded acquiring assets in Morocco to add to its Italian portfolio. Earlier this month the company began earth works at its first Moroccan programme at the Tendrara licence area. And the company also recently reached a long awaited milestone with the start-up of production at the Nervesa gas field in Italy. 'This time last year Sound was solely focused on Italy and more specifically on Nervesa coming onstream' said finnCap analyst Dougie Youngson. 'Through a series of balance sheet-friendly acquisitions it has acquired a strong foothold in Morocco consistent with its Mediterranean gas strategy. 'Today Nervesa is onstream and there is scope for new production coming from Morocco in the short term enhancing the cash flow generation aspect of the Sound story.' He added that with the strengthened portfolio and as activity ramps up Sound Energy is in an excellent position 'to see serious traction across a number of its assets this year.' Finncap repeated a 'buy' recommendation with a 32p price target.
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