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Pin to quick picksSound Energy Regulatory News (SOU)

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Operations Update

14 Mar 2016 07:00

RNS Number : 9045R
Sound Energy PLC
14 March 2016
 

14 March 2016

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Operations Update

 

Sound Energy, the European/Mediterranean focused upstream gas company, provides the following update on certain of its Moroccan and Italian gas portfolio assets.

 

Badile, Italy

The Company has now been advised that the "Conferenza dei Servizi" (which is the central and final approval meeting for the Badile permission to drill) has been scheduled for 21 March 2016. This "Conferenza dei Servizi" follows an initial meeting held on 3 February 2016 and the final permission to drill the Badile exploration well is expected to be granted after this meeting.

 

Nervesa, Italy

The Company advises that since achieving first gas on 3 February 2016, the Company has produced some 24.6 MMscf of gas (at an average production rate, constrained by the Company, of 0.7 MMscf/d). On 11 March 2016 the Company completed planned static and dynamic profiles, which have identified an initial reduction in well pressure with an associated minor production of water, and suggests that not all perforated levels are yet in production. The Company has therefore decided to temporarily further constrain the flow rate from the well to approximately 0.4 MMscf/d. After a further period of production at these levels, the Company will complete a second static profile to confirm the level of pressure support. The Company may then consider re-perforating select layers of the reservoir or installing a velocity string to facilitate the load up of the minor amount of liquid being produced.

 

Tendrara, Morocco

The Company is pleased to announce that civil works and camp construction on site are progressing well, that the rig has now (as scheduled) arrived in Morocco and that the unloading of the equipment has started on site. The 40 day drill programme for the first Tendrara well is expected to commence in April 2016.

 

For further information please contact:

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Alexandra Roper

 

Tel: +44 (0)20 7830 9700

Sound Energy

James Parsons, Chief Executive Officer

 

j.parsons@soundenergyplc.com

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes

 

Tel: +44 (0)20 7131 4000

Cantor Fitzgerald Europe - Broker

Sarah Wharry

David Porter

 

Tel: +44 (0)20 7894 8896

 

The information contained in this announcement has been reviewed by Sound Energy's Moroccan Managing Director, Luca Madeddu, a qualified petroleum geologist. MMscf means million standard cubic feet of gas and MMscf/d means million standard cubic feet of gas per day.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFFFMFFMSEID
Date   Source Headline
11th Oct 20167:00 amRNSDirector/PDMR Shareholding
7th Oct 20167:00 amRNSTendrara: TE7 Completion of Drilling & Log Results
3rd Oct 20163:00 pmRNSTotal Voting Rights
23rd Sep 20167:00 amRNSSidi Moktar Acquisition: Renegotiated Terms
20th Sep 20167:00 amRNSBadile: Commencement of Civil Works
19th Sep 20165:27 pmRNSBlock Admission
19th Sep 20167:00 amRNSTendrara: TE-7 Final Casing Point
15th Sep 20167:00 amRNSHalf-year Report
8th Sep 20167:00 amRNSTendrara: TE-7 Second Casing Point
2nd Sep 20167:00 amRNSInclusion in FTSE AIM UK 50 and Migration to SETS
1st Sep 20163:43 pmRNSBlock Admission Update and Total Voting Rights
31st Aug 20167:00 amRNSTendrara: TE-7 First Casing Point
26th Aug 20167:00 amRNSTendrara: TE-7 Drilling Commences
24th Aug 20167:00 amRNSExecutive Changes and Change of Registered Office
16th Aug 20163:21 pmRNSDirector/PDMR Shareholding
15th Aug 20164:05 pmRNSDirector/PDMR Shareholding
8th Aug 20166:01 pmRNSIssue of Options and Director/PDMR Shareholding
8th Aug 20163:40 pmRNSDirector/PDMR Shareholding
8th Aug 20167:01 amRNSTendrara: Gas Discovery
1st Aug 20163:00 pmRNSTotal Voting Rights
29th Jul 20164:42 pmRNSExercise of Options and Issue of Equity
27th Jul 20167:00 amRNSBadile: Schlumberger Investment
18th Jul 201612:00 pmRNSTendrara Update
11th Jul 20167:00 amRNSTendrara Update
7th Jul 20167:00 amRNSTendrara Development Funding
5th Jul 20169:38 amRNSDirector/PDMR Shareholding
1st Jul 201612:40 pmRNSTotal Voting Rights
29th Jun 20161:12 pmRNSResult of AGM
29th Jun 201611:02 amRNSDirectorate Change
21st Jun 201611:17 amRNSIssue of Bonds and Warrants
20th Jun 20167:00 amRNSTendrara and Meridja Update
2nd Jun 20165:34 pmRNSPosting of Annual Report and Notice of AGM
2nd Jun 20167:00 amRNSTendrara: Completion of Drilling
1st Jun 20161:49 pmRNSTotal Voting Rights
24th May 20167:00 amRNSFinal Results
24th May 20167:00 amRNSTendrara: Final Casing Point
16th May 20167:00 amRNSTendrara: Second Casing Point
16th May 20167:00 amRNSNervesa Update
11th May 20167:00 amRNSReceipt of Final Badile Drilling Approval
10th May 20167:00 amRNSHeads of Terms in respect of Bond Programme
3rd May 20165:38 pmRNSHolding(s) in Company
28th Apr 20167:00 amRNSTendrara: First Casing Point
28th Apr 20167:00 amRNSSuccessful Badile Approval Meeting
21st Apr 20167:00 amRNSTendrara - Drilling Commences
5th Apr 20167:00 amRNSIndonesian Contingent Consideration
1st Apr 201610:53 amRNSTotal Voting Rights
24th Mar 20163:01 pmRNSIssue of Options and Director's Dealing
14th Mar 20167:00 amRNSOperations Update
10th Mar 20167:00 amRNSSidi Moktar: Further Acquisition and Farm Out
29th Feb 20167:00 amRNSBadile Rig

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