LONDON (Alliance News) - Sound Energy PLC on Friday reported the commencement of drilling at TE-10 exploration well, the second well of a planned three-well campaign in Eastern Morocco.
The Morocco-focused upstream gas company said the TE-10 well will test the North East Lakbir prospect in the company's Greater Tendrara permit. 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 basis of 2.7 trillion cubic feet of gas originally in place, with a Sound Energy internally estimated chance of success of 14%. The smaller TAGI structural closure has a mid case potential of 128 billion cubic feet of gas originally in place, with a 26% success chance.
The TE-10 exploration well will be drilled to a total depth of 2,200 metres and is expected to take between 30 to 40 days, Sound Energy said.
Shares in the company were trading 10% lower at 12.75 pence each on Friday morning.
Sound Energy (SOU)