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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
23rd Aug 20122:15 pmRNSOperations Update
1st Aug 20124:41 pmRNSHolding(s) in Company
1st Aug 20127:00 amRNSEngineering Appointment & Funding Contract
26th Jul 20127:00 amRNSChange of Adviser & Open Offer
25th Jul 201212:33 pmRNSOperations Update
16th Jul 20127:00 amRNSFunding Update
10th Jul 20127:00 amRNSOperations Update
1st Jun 201211:00 amRNSStrombone Funding
28th May 20122:09 pmRNSOperations Update
8th May 20121:17 pmRNSOperations Update
4th May 20124:28 pmRNSPosting of Annual Report
3rd May 20122:44 pmRNSHolding(s) in Company
1st May 20127:00 amRNSFinal Results
4th Apr 201212:34 pmRNSOperations Update
22nd Mar 20128:50 amRNSOperations Update
9th Mar 20127:00 amRNSOperations Update
7th Mar 20127:00 amRNSCompany Presentation
6th Mar 20127:00 amRNSOperations Update
27th Feb 20127:00 amRNSDirector/PDMR Shareholding
16th Feb 20127:00 amRNSDirector/PDMR Shareholding
13th Feb 20129:51 amRNSOperations Update
7th Feb 20127:00 amRNSIssue of Equity
23rd Jan 20123:32 pmRNSOperations Update
13th Jan 20121:03 pmRNSDirector/PDMR Shareholding
5th Jan 201211:30 amRNSDirector/PDMR Shareholding
4th Jan 20127:00 amRNSManagement Appointment
3rd Jan 201211:56 amRNSOperations Update
30th Dec 201112:16 pmRNSDirector's dealing, Issue of Equity and TVR
20th Dec 20117:00 amRNSOperations Update
19th Dec 201112:48 pmRNSHolding(s) in Company
12th Dec 201111:15 amRNSHolding(s) in Company
1st Dec 20112:12 pmRNSCompletion of Private Placement
25th Nov 20111:46 pmRNSOperations Update
21st Nov 20117:00 amRNSOperations update: Casa Tiberi-1 well
18th Nov 201112:01 pmRNSTotal Voting Rights
15th Nov 201112:03 pmRNSOperations Update
10th Nov 20115:34 pmRNSDrawdown on Equity Line
10th Nov 20117:00 amRNSAcquisition of Celtique & Private Placement Heads
31st Oct 201110:55 amRNSOperations Update
25th Oct 20117:00 amRNSStart of Casa Tiberi-1 Exploration Well, Italy
12th Oct 20114:47 pmRNSOperation Update
30th Sep 20114:50 pmRNSDirector/PDMR Shareholding
29th Sep 20117:00 amRNSHalf Yearly Report
29th Sep 20117:00 amRNSOperations Update
23rd Sep 20114:57 pmRNSHolding(s) in Company
13th Sep 20113:31 pmRNSNotice of Results
5th Sep 20117:00 amRNSDirectorate Change
24th Aug 20117:00 amRNSRapagnano Concession Update
22nd Aug 20112:09 pmRNSAcquisition of further shares in Consul Oil & Gas
22nd Aug 20117:00 amRNSOperations Update

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