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Pin to quick picksSound Energy Regulatory News (SOU)

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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
28th Jan 20197:00 amRNSEastern Morocco Operations Update
25th Jan 20194:40 pmRNSSecond Price Monitoring Extn
25th Jan 20194:35 pmRNSPrice Monitoring Extension
7th Jan 20197:00 amRNSEastern Morocco: Further TE-10 Update
2nd Jan 20193:00 pmRNSTotal Voting Rights
27th Dec 20187:00 amRNSEastern Morocco: TE-10 Drilling Update
12th Dec 20187:00 amRNSChange of Adviser following Acquisition
7th Dec 20187:00 amRNSEastern Morocco: Commencement of Drilling at TE-10
30th Nov 20181:44 pmRNSTotal Voting Rights
23rd Nov 20187:00 amRNSIssue of Equity
19th Nov 20187:00 amRNSEastern Morocco: TE-9 Results
14th Nov 20183:27 pmRNSTE-9 Total Depth (RNS Reach)
5th Nov 20187:00 amRNSTE-9 Second Casing Point (RNS Reach)
31st Oct 20183:00 pmRNSTotal Voting Rights
26th Oct 20187:00 amRNSTE-9 First Casing Point (RNS Reach)
17th Oct 20187:00 amRNSEastern Morocco: Commencement of Drilling at TE-9
16th Oct 20187:00 amRNSGreater Tendrara Petroleum Agreement
11th Oct 201811:14 amRNSShare Price Movement and Operational Update
1st Oct 20185:29 pmRNSTVR and Block Admission Interim Review
26th Sep 201810:17 amRNSDirector/PDMR Shareholding and Issue of Equity
13th Sep 20187:00 amRNSHalf-year Report
6th Sep 20187:00 amRNSEastern Morocco: Award of Production Concession
31st Aug 20182:25 pmRNSTotal Voting Rights
31st Aug 20187:00 amRNSEastern Morocco: New Petroleum Agreement
21st Aug 20187:00 amRNSEastern Morocco: Seismic completion
13th Aug 20187:00 amRNSTE-9: Rig Mobilisation
1st Aug 20184:42 pmRNSTotal Voting Rights
24th Jul 20187:00 amRNSTE-9: Commencement of Civil Works
23rd Jul 20187:00 amRNSUpdate re Eastern Morocco
11th Jul 20187:00 amRNSDirectorate Change
2nd Jul 20187:00 amRNSPlacing and TVR
29th Jun 20187:00 amRNSEastern Morocco: New Basin Model
15th Jun 20187:00 amRNSTE-9 Well Location
8th Jun 20187:00 amRNSEastern Morocco: Concession Application
7th Jun 20187:01 amRNSEastern Morocco: FEED Award
6th Jun 20187:00 amRNSTendrara: EIA Approval for TE-9 and TE-10
5th Jun 20187:00 amRNSSidi Moktar: Ministry Approval & Farm Out Process
4th Jun 20187:00 amRNSFinal CPR: A1 Prospect (TE-9)
31st May 20184:25 pmRNSTotal Voting Rights
24th May 20182:17 pmRNSResult of AGM
14th May 20187:00 amRNSDirectorate Change
30th Apr 20183:00 pmRNSTotal Voting Rights
30th Apr 20182:21 pmRNSDirector/PDMR Shareholding
26th Apr 20185:27 pmRNSIssue of Equity, LTIP and PDMR Shareholdings
26th Apr 20187:00 amRNSPreliminary Competent Person?s Report: A1 Prospect
18th Apr 20185:45 pmRNSAnnual Report and Notice of Annual General Meeting
9th Apr 20188:06 amRNSCompletion of Italian Divestment
3rd Apr 20185:09 pmRNSTVR and Block Admission Interim Review
22nd Mar 20187:00 amRNSFinal Results
14th Mar 20187:00 amRNSUpdate re Sound Italy Divestment

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