Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSound Energy Regulatory News (SOU)

Share Price Information for Sound Energy (SOU)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.95
Bid: 0.97
Ask: 0.99
Change: 0.01 (1.03%)
Spread: 0.02 (2.062%)
Open: 0.99
High: 1.00
Low: 0.95
Prev. Close: 0.97
SOU Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
22nd Mar 20137:00 amRNSResult of Open Offer
6th Mar 20137:00 amRNSOpen Offer
5th Mar 20131:47 pmRNSNervesa Drilling Authorisation
28th Feb 20137:00 amRNSAsset Swap
27th Feb 20137:00 amRNSRevised Work Programme
19th Feb 20137:00 amRNSBadile Prospect Update
15th Feb 20137:00 amRNSChange of Adviser
14th Feb 20137:00 amRNSNervesa Rig Contract
1st Feb 20137:00 amRNSItalian Portfolio Update
24th Jan 20134:43 pmRNSHolding(s) in Company
24th Jan 20137:00 amRNSExisting Placement & Open Offer
22nd Jan 20137:00 amRNSNervesa Consent
17th Jan 20133:51 pmRNSHolding(s) in Company
16th Jan 20137:00 amRNSFunding Update
8th Jan 20137:00 amRNSRapagnano Final Test Results
7th Jan 20137:00 amRNSRapagnano Flow Rates
4th Jan 201312:02 pmRNSResult of Meeting
20th Dec 20127:00 amRNSOperations Update
18th Dec 20125:33 pmRNSPosting of Circular
17th Dec 20127:00 amRNSDirector/PDMR Shareholding
12th Dec 20127:00 amRNSSale of Sub, Bd Change, Share Consolidation & GM
11th Dec 20122:28 pmRNSHolding(s) in Company
4th Dec 20127:00 amRNSOperations Update
30th Nov 20129:36 amRNSConcession Award
30th Nov 20127:00 amRNSRapagnano Gas Sales Agreement
21st Nov 20127:00 amRNSPresentation
20th Nov 20127:00 amRNSFunding Update
14th Nov 20127:00 amRNSRe-opening of D150 and D148 Permit Applications
8th Nov 20127:00 amRNSNervesa EIA Approval
2nd Nov 20127:00 amRNSInvestor Engagements
1st Nov 20125:29 pmRNSHolding(s) in Company
26th Oct 201212:21 pmRNSGrant of Options
24th Oct 201212:29 pmRNSDirector/PDMR Shareholding
24th Oct 20127:00 amRNSNervesa Funding Contract
22nd Oct 20127:00 amRNSRig Letter of Intent for Nervesa
18th Oct 20127:00 amRNSCitarum Sale
12th Oct 20129:21 amRNSHolding(s) in Company
11th Oct 20127:00 amRNSDirectorate Change
4th Oct 20124:34 pmRNSPosting of Interim Report
3rd Oct 20122:07 pmRNSChange of Date for Investor Conference Call
2nd Oct 20123:16 pmRNSHolding(s) in Company
2nd Oct 201212:24 pmRNSOperations Update
1st Oct 20127:00 amRNSOperations Update - Italy
28th Sep 20127:00 amRNSHalf Yearly Report
21st Sep 20123:09 pmRNSHolding(s) in Company
20th Sep 20127:00 amRNSInvestor Conference Call
12th Sep 20122:54 pmRNSOperations Update - Indonesia
7th Sep 20124:24 pmRNSHolding(s) in Company
31st Aug 20122:19 pmRNSOperations Update
23rd Aug 20122:15 pmRNSOperations Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.