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Tendrara and Meridja Update

20 Jun 2016 07:00

RNS Number : 6196B
Sound Energy PLC
20 June 2016
 

20 June 2016

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Tendrara and Meridja Update

 

Sound Energy, the European / Mediterranean focused upstream gas company, is pleased to provide the following update.

 

Tendrara

 

The processing of the logs while drilling and wire line logs at the first Tendrara well has now been completed. The preliminary petrophysical analysis confirms the presence of a number of gas bearing levels and a total net pay of 28 metres in the TAGI reservoir. This is ahead of initial expectations.

 

A further announcement will be made following the completion of operations and when the results of the well test are confirmed.

 

In anticipation of drilling of the second well at Tendrara, the Company has now applied for the first complementary period under the licence terms. This period triggers a commitment to a second well.

 

Meridja

 

The Company is also pleased to announce that it has now exercised its option to acquire, subject to regulatory and other approvals, a 55% participating interest in the Meridja exploration permit, onshore Morocco, from Oil & Gas Investment Fund S.A.S. (the "Option"). The consideration payable and the other terms of the Option were announced by the Company on 8 February 2016.

 

The Meridja licence area is adjacent to the Tendrara licence and is a highly prospective 9,000 Km2 area with the same fundamental geology as Tendrara.

 

The Company continues to pursue its counter-cyclical growth strategy and to evaluate selective opportunities to complement its existing portfolio.

 

 

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.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFAFWUFMSEEM
Date   Source Headline
25th Jun 20147:00 amRNSDirector/PDMR Shareholding
25th Jun 20147:00 amRNSDirectorate Change
18th Jun 20147:00 amRNSInstitutional Investment Agreements
12th Jun 20147:00 amRNSLaura Gas Discovery - Permit Award
11th Jun 201411:56 amRNSHolding(s) in Company
9th Jun 20147:00 amRNSRapagnano Reserve Upgrade
27th May 20147:00 amRNSCasa Tiberi - Operations Update
22nd May 201410:00 amRNSAnnual Report and Notice of AGM
21st May 20147:00 amRNSFinal Results
28th Apr 20147:00 amRNSNervesa Farm Out
25th Apr 20147:00 amRNSInstitutional Investment
14th Apr 20147:00 amRNSCasa Tiberi - Operations Commence
14th Mar 20147:00 amRNSCasa Tiberi Concession Award
14th Feb 201410:30 amRNSDirector/PDMR Shareholding
7th Feb 20144:00 pmRNSDirector/PDMR Shareholding
6th Feb 201410:16 amRNSDirector/PDMR Shareholding
5th Feb 20147:00 amRNSDirectorate Changes and Directors' Interests
3rd Feb 20147:00 amRNSResult of Open Offer
28th Jan 20147:00 amRNSLand Lease Agreement
14th Jan 20147:00 amRNS24 month Work Programme
14th Jan 20147:00 amRNSBoard Appts, Underwritten Open Offer and Loan
10th Jan 20147:00 amRNSRapagnano Production Update
8th Jan 20147:00 amRNSNervesa Rig Letter of Intent
23rd Dec 20137:00 amRNSDirectorate Change
23rd Dec 20137:00 amRNSSanta Maria Goretti Permit Award
18th Dec 20131:46 pmRNSDirectorate Change
21st Nov 20137:00 amRNSCasa Tiberi EPC Award
8th Oct 20137:00 amRNSNew Badile CPR
27th Sep 201311:18 amRNSDirector/PDMR Shareholding
27th Sep 20137:00 amRNSHalf Yearly Report
27th Sep 20137:00 amRNSCasa Tiberi Approval
4th Sep 20137:00 amRNSSuccessful Nervesa Well Test
9th Aug 20137:00 amRNSNervesa Update
18th Jul 20137:00 amRNSAppointment of Chief Financial Officer
17th Jul 20137:00 amRNSNervesa Gas Discovery
15th Jul 20137:00 amRNSNervesa Total Depth
5th Jul 20137:00 amRNSNervesa Appraisal Well Update
27th Jun 201312:30 pmRNSResult of AGM
24th Jun 20131:39 pmRNSNervesa Appraisal Well Update
11th Jun 20138:41 amRNSNervesa Update
7th Jun 20132:23 pmRNSCommencement of Drilling
7th Jun 20131:08 pmRNSDirector/PDMR Shareholding
4th Jun 20137:00 amRNSPosting of Annual Report and Notice of AGM
30th May 20137:00 amRNSFinal Results
17th May 20137:00 amRNSNervesa Rig Release
16th May 20137:00 amRNSRapagnano First Gas
7th May 20137:00 amRNSProject Update
24th Apr 20137:00 amRNSProject Update
22nd Apr 20137:00 amRNSSuccessful Rapagnano Commissioning
28th Mar 20137:01 amRNSNervesa Appraisal Well Update

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