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Pin to quick picksSound Energy Share News (SOU)

Share Price Information for Sound Energy (SOU)

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Share Price: 1.425
Bid: 1.35
Ask: 1.50
Change: 0.05 (3.64%)
Spread: 0.15 (11.11%)
Open: 1.375
High: 1.425
Low: 1.40
Yest. Close: 1.375
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Sound Energy eyes up to 31trn cubic feet of gas in Moroccan permits

Wed, 1st Feb 2017 15:56

(ShareCast News) - Sound Energy said an early estimate of its Tendrara and Meridja permit areas in Morocco put unrisked original gas in place of up to 31trn cubic feet (tcf), or 17tcf as a mid case.

The AIM-listed company, which has a 27.5% interest in the Tendrara licence and an option to acquire a 55% interest in Meridja, last month conducted various tests and has now received an initial basin model, from which it made internal estimates of volumes.

It said the basin model "highlights the possibility" for a range of estimated volumes across the entire Tendrara and Meridja permit areas, with a 9tcf low case for unrisked original gas in place and, if all the key elements of the petroleum system's model are present, an upside gross case of 31tcf of unrisked original gas in place.

The company said basin model, from which the volume estimates above are derived, is supported by a mapped inventory of discoveries, prospects and leads in the Triassic reservoir; the volume of hydrocarbons generated, and available to charge, from the Paleozoic source rocks post deposition of the thick salt seal; and a conceptual evaluation of the Paleozoic resource potential by analogue to neighbouring Algerian basins.

It cautioned that, notwithstanding its internal estimates for the exploration potential of the basin, it has so far only completed the first two wells on the structure which have established an estimated gross 300-500bn of standard cubic feet of gas (Bscf).

"Further exploration activity, including the acquisition of additional 2D and 3D seismic and the requirement for further drilling, will be required to substantiate the estimated exploration potential of the Basin.

"The company's estimates will be subject to a Competent Person's Report to be commissioned following the drilling of TE-8 and before the company takes final investment decision on the development later in 2017."

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22 Jun 21 16:11

Sound Energy to acquire Schlumberger interests in Morocco

(Sharecast News) - Morocco-focussed upstream oil and gas company Sound Energy has entered into a sale and purchase agreement with Schlumberger to acquire the entire issued share capital of Schlumberger Silk Route Services (SSRS), it announced on Monday.

14 Jun 21 15:01

AIM WINNERS & LOSERS: Tavistock up on GBP40 million wealth unit sale

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14 Jun 21 11:18

Sound Energy boosts Morocco interest with Schlumberger deal

Sound Energy boosts Morocco interest with Schlumberger deal

14 Jun 21 10:41

Sound Energy shares tumble on Moroccan tax reassessment

Sound Energy shares tumble on Moroccan tax reassessment

1 Jun 21 14:02

AIM WINNERS & LOSERS: Sound Energy falls on Morocco tax notification

AIM WINNERS & LOSERS: Sound Energy falls on Morocco tax notification

1 Jun 21 11:30

TRADING UPDATES: Amigo wants suspension lift; Young's sinks to loss

TRADING UPDATES: Amigo wants suspension lift; Young's sinks to loss

20 May 21 20:23

IN BRIEF: Sound Energy rises after bondholders approve restructuring

IN BRIEF: Sound Energy rises after bondholders approve restructuring

14 Apr 21 12:07

Sound Energy proposes restructure of EUR28 million 2021 notes

Sound Energy proposes restructure of EUR28 million 2021 notes

30 Mar 21 14:49

CORRECT: Sound Energy says hasn't signed Morocco deal, reversing rally

CORRECT: Sound Energy says hasn't signed Morocco deal, reversing rally

26 Mar 21 12:48

Sound Energy says it hasn't signed Morocco contract, reversing rally

Sound Energy says it hasn't signed Morocco contract, reversing rally

26 Mar 21 12:26

Sound Energy refutes reports on Morocco LNG deal

(Sharecast News) - Morocco-focussed upstream gas company Sound Energy responded to media reports in the north African country on Friday, confirming that it had not signed an agreement on a proposed liquefied natural gas project.

26 Mar 21 11:10

Sound Energy nets EUR 0.18m from sale of first land stage at Badile

(Sharecast News) - Morocco-focussed upstream gas company Sound Energy announced on Monday that it has received the first sale proceeds from the sale of the Badile land, totalling €0.18m (£0.15m) net of fees.

8 Mar 21 14:05

Sound Energy gets first payment from sale of Badile Land

Sound Energy gets first payment from sale of Badile Land

8 Mar 21 10:35

Sound Energy Moves Shares To New Trading Platform In London

Sound Energy Moves Shares To New Trading Platform In London

15 Feb 21 08:46

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