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Tendrara Update

11 Jul 2016 07:00

RNS Number : 7454D
Sound Energy PLC
11 July 2016
 

11 July 2016

 

Sound Energy plc

("Sound Energy" or the "Company")

 

 

Tendrara Update

 

 

Sound Energy, the European / Mediterranean focused upstream gas company is pleased to provide the following update in relation to the Company's Tendrara licence area, onshore Morocco.

 

As announced by the Company on 6 June 2016, the first Tendrara well (TE-6) was drilled to a measured vertical depth of 2,665 metres and encountered approximately 28 metres of net gas pay in the TAGI reservoir.

 

The Company confirms that rigless operations continue and that the results are already significantly above Company expectations as a significant stable flow has already been achieved, despite only having accessed so far 18% of the total reservoir and no stimulation having yet been performed.

 

After completing the initial perforation of 5 metres of the 28 metres of net pay (between 2,601 and 2,606 metres) the well achieved a stable flow rate of 1.36 MMscf/d with a choke of 16/64".

 

The Company will now complete the remainder of the rigless operation, after which the results will be announced. The results are expected later this month.

 

James Parsons, Sound Energy's Chief Executive Officer, commented:

 

"I am absolutely delighted to report what appears to be an early and potentially very material success at the first of our three Strategic Plays.

We eagerly await the post stimulation flow rate but I believe the early results of this first well already both prove a material commercial rate at Tendrara and provide significant early clues as to the regional potential of the Eastern Morocco TAGI reservoir."

 

This announcement is inside information for the purposes of Article 7 of 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. 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
 
 
MSCURVVRNUABAAR
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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