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Sound Energy primed to drill new well; reveals internal estimates for Morocco

Sound next well will test the TAGI reservoir as well as tapping for the first time the lower lying Palaeozoic horizons.

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Success in the desert: The company is making significant headway in Morocco

Sound Energy PLC (LON:SOU) said the gas pressure at its latest Morocco well correlates with what it’s seen elsewhere on the property as it provided some guidance on the potential scale of  Tendrara licence.

Currently, the Sound team reckon there is between 300bn and 500bn cubic feet of gas in place based on the work carried out to date.

The next well, a step out some 12 kilometres from the last hole, will test the lateral extent of the gas accumulation.

If it successfully finds gas at commercial rates via TE-8, then the estimate for Tendrara rises to up to 1.5 trillion cubic feet in place.

In a release to the stock exchange, Sound provided an update on the next well, where work is slated to start in February.

It will test the TAGI reservoir as well as tapping for the first time the lower lying Palaeozoic horizons.

Sound also confirmed it had retrieved memory gauges from its last hole, TE-7, that confirm “the reservoir pressure correlates with the gas gradient recorded at all previous wells on the structure”. 

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Price: 1.498 GBX

AIM:SOU
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Market Cap: £17.4 m
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