LONDON (Alliance News) - Sound Energy PLC on Monday said it completed the drilling programme at TE-10 well in North East Lakbir, Morocco, and intends to start test work in February.
Sound Energy shares were up 19% early on Monday at 24.90 pence each.
The Moroccan-focused gas company confirmed that TE-10 exploration well, which was the second in Sound Energy's current three well exploration programme in the Tendrara area, was drilled to a total depth of 2,218 meters.
The programme was designed to explore three geologically independent plays and to establish the potential of the basin.
Upon completion of the high-definition formation micro-imager log, which provides a microresistivity image of the well bore, Sound Energy has identified potential gross reservoir interval between 1,899 meters and 2,009 meters depth.
The company said it a gas sample was successfully recovered from 1,937 meters depth using a modular formation dynamics tester system. The successful retrieval of this gas sample confirms the presence of moveable hydrocarbons in the reservoir, Sound Energy said.
Looking ahead, the company said it concluded the TE-10 well drilling operations and now intends to conduct a well test over the reservoir interval. This is expected to occur during February, after rig de-mobilisation and mobilisation of the necessary testing equipment.
Sound Energy (SOU)