LONDON (Alliance News) - Upstream gas company Sound Energy PLC said on Tuesday it has completed the 2,850 line kilometre 2D seismic acquisition programme in eastern Morocco.
In addition, the company said it has finalised the specific location of the TE-10 exploration well, which will target the North East Lakbir prospect and is expected to spud immediately after the drilling of TE-9.
This second well will target a high impact TAGI structural-stratigraphic play with previously estimated volumes of 2.6 trillion cubic feet mid case gas originally in place, and will drill both the TAGI and Palaeozoic layers.
The new seismic has also now revealed a new large Palaeozoic structure to the North West of the play. It is believed that the hydrocarbon migration pathways converge into this Palaeozoic structure, which would mean that this is the largest prospect in the entire basin.
Shares in Sound Energy were up 3.3% at 40.50 pence on Tuesday.
Sound Energy (SOU)