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Sound Energy issues final TE-8 results

By BFN News | 09:55 AM | Tuesday 23 May, 2017


Sound Energy has confirmed its third well in Eastern Morocco as the definitive Paleozoic play opener with thick Westphalian sands which should be producible across the region. The TE-8 well was achieved Target Depth at 3120 metres. "Despite a relatively tight TAGI reservoir, the confirmation of the Gas Water Contact at 1,350 metres has enabled the Company to double its internal TAGI estimates and materially increase first phase development volumes," said CEO James Parsons in a statement. "We eagerly look forward to commencing the 2D exploration seismic programme in August and continuing operations in Eastern Morocco once we have finished at Sidi Moktar," he added. "In the meantime, we are focused entirely on the rapidly approaching results at Badile and Sidi Moktar." Separately, Sound Energy said it intended to appoint its executive vice president of exploration, Brian Mitchener, to the board as Exploration Director. At 9:55am: (LON:SOU) Sound Energy PLC share price was +2.13p at 72.13p Story provided by StockMarketWire.com

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