Last checked at 19 Jan 2017 07:00
19 January 2017
Sound Energy plc
("Sound Energy" or the "Company")
Successful TE-7 Extended Well Test
Sound Energy, the African and European focused upstream gas company, is pleased to confirm a successful extended well test at TE-7, the Company's second well at the Tendrara licence (onshore Morocco).
The Company has flowed just under 1.0 Bscf from TE-7 over a period of 56 days continuous flow and has now started a final pressure build-up phase. The overall extended test results are consistent with the Company's estimates and confirm the good deliverability of the TAGI reservoir, the horizontal well concept and the Company's view of the significant potential of the field.
Throughout the test the flow rate was limited by the Company at a maximum 40% drawdown to preserve completion integrity. The average constrained flow rates over the course of the extended well test were as follows:
Choke Size Average Rate
44/64 inch 28 mmscfd
36/64 inch 22 mmscfd
28/64 inch 15 mmscfd
The Company confirms that, as expected, no formation water was produced during the test and no indication of barriers were detected - confirming a significant connected volume. The pressure gauges at TE-5 and TE-6 will be monitored over the next month to further confirm the physical connectivity of the reservoir.
The results of the extended well test will now be analysed and utilized to finalise field development planning.
As announced on 15 December 2016, the reservoir pressure at TE-7 has been confirmed to correlate with the gas gradient recorded at all previous wells on the structure.
This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.
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. The Company's internal estimates are made in accordance with SPE standards.
Bscf means billion cubic feet of gas and mmscfd means million standard cubic feet of gas per day.