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Sound Energy PLC (SOU)

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Friday 07 December, 2018

Sound Energy PLC

Eastern Morocco: Commencement of Drilling at TE-10

RNS Number : 7481J
Sound Energy PLC
07 December 2018
 

7 December 2018

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Eastern Morocco : Commencement of Drilling at TE-10

 

Sound Energy, the Moroccan focused upstream gas company, is pleased to confirm that the drilling at TE-10, the second well of a planned three exploration well campaign in Eastern Morocco, has commenced.

 

The TE-10 well will test the North East Lakbir prospect in the Company's Greater Tendrara permit and is located approximately 25 kilometres to the northeast of the recently awarded Tendrara production concession.

 

The well is designed to test both a material TAGI stratigraphic trap and a smaller TAGI structural closure.  The North East Lakbir stratigraphic trap has updated mid case potential on a gross (100%) basis of 2.7 Tcf GOIP (4.5 Tcf GOIP upside case and a 1.5 Tcf GOIP low case) with a Sound Energy internally estimated chance of success of 14%. TE-10 lies within the stratigraphic trap, located on a smaller structural closure which has a mid case potential, on a gross (100%) basis, of 128 Bcf gas originally in place ("GOIP") (210 Bcf GOIP upside case and a 75 Bcf low GOIP case) with a Sound Energy internally estimated chance of success of 26%.

 

The well is expected to be drilling to a total depth at approximately 2,200m and is expected to take between 30 to 40 days. 

 

Further announcements will be made, as appropriate, in due course.

 

 

For further information please contact:

 

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon 

 

 

Tel: +44 (0)20 7390 0230

Sound Energy

James Parsons, Chief Executive Officer 

JJ Traynor, Chief Financial Officer

 

[email protected]

[email protected]   

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes 

 

Tel: +44 (0)20 7131 4000

RBC Capital Markets - Joint Broker

Matthew Coakes

Martin Copeland

 

 

  Tel: +44 (0)20 7653 4000

Macquarie Capital (Europe) Limited - Joint Broker

Alex Reynolds

Nick Stamp

 

  Tel: +44 (0)20 3031 2000

 

 

 

The information contained in this announcement has been reviewed by Sound Energy's Exploration Director, Brian Mitchener, a chartered petroleum geologist.  The estimated volumes are made in accordance with SPE standards. Bcf means billion standard cubic feet of gas; Tcf means trillion standard cubic feet of gas.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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