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
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j.parsons@soundenergyplc.com
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Smith & Williamson - Nominated Adviser
Azhic Basirov
David Jones
Ben Jeynes
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Tel: +44 (0)20 7131 4000
|
Cantor Fitzgerald Europe - Broker
Sarah Wharry
David Porter
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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
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