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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
7th Dec 200712:51 pmRNSDirector/PDMR Shareholding
23rd Nov 20075:33 pmRNSDirector/PDMR Shareholding
9th Nov 20071:29 pmRNSHolding(s) in Company
2nd Nov 20074:26 pmRNSDirector/PDMR Shareholding
31st Oct 20078:53 amRNSDirector/PDMR Shareholding
8th Oct 20075:09 pmRNSDirector/PDMR Shareholding
28th Sep 20077:02 amRNSInterim Results
26th Sep 20077:01 amRNSOperations Update
18th Sep 20077:00 amRNSOperations Update
4th Sep 20077:00 amRNSNotice of Interim Results
31st Aug 20072:18 pmRNSOperations Update
22nd Aug 200710:34 amRNSOperations Update
16th Aug 20076:21 pmRNSHolding(s) in Company
16th Aug 200710:31 amRNSAIM Notice (Rule 26)
31st Jul 20073:04 pmRNSAGM Statement
26th Jun 20077:00 amRNSChange of Adviser
18th Jun 200710:46 amRNSDrilling Report
4th Jun 20077:01 amRNSFinal Results
21st May 20074:00 pmRNSDrilling Update
14th May 200712:42 pmRNSDrilling Update
9th May 200711:46 amRNSDrilling Update
15th Mar 200710:52 amRNSDirector/PDMR Shareholding
12th Mar 200711:20 amRNSHolding(s) in Company
28th Feb 20077:01 amRNSOperations Update
2nd Feb 20073:46 pmRNSHolding(s) in Company
16th Jan 20077:13 amRNSHolding(s) in Company
21st Dec 20067:01 amRNSHolding(s) in Company
15th Dec 20064:17 pmRNSTotal Voting Rights
10th Nov 20067:00 amRNSDirector/PDMR Shareholding
25th Oct 200611:35 amRNSDirector/PDMR Shareholding
5th Oct 20063:15 pmRNSHolding(s) in Company
2nd Oct 20067:01 amRNSNew appointment
29th Sep 20067:03 amRNSInterim Results
18th Sep 20062:56 pmRNSHolding(s) in Company
5th Sep 20067:01 amRNSNotice of Results
31st Aug 20067:01 amRNSPOD Approval
1st Aug 20067:02 amRNSHolding(s) in Company
1st Aug 20067:02 amRNSHolding(s) in Company
17th Jul 20065:42 pmRNSHolding(s) in Company
13th Jul 20068:24 amRNSRe-admission to AIM
12th Jul 200612:04 pmRNSResult of EGM
11th Jul 20065:29 pmRNSHolding(s) in Company
27th Jun 20063:56 pmRNSOption grant
26th Jun 20062:05 pmRNSSch 1 - Sound Oil PLC
26th Jun 200611:17 amRNSDirector/PDMR Shareholding
26th Jun 20068:40 amRNSRestoration - Sound Oil PLC
26th Jun 20067:01 amRNSAcquisition
22nd May 20062:48 pmRNSAcquisition
30th Mar 20067:01 amRNSFinal Results
20th Mar 20067:02 amRNSSuspension

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