Sound Energy PLC (LON:SOU) has had validation of its own in-house estimates at the Tendrara gas project onshore Morocco.
The company, in a stock market statement, revealed that preliminary results of a volume certification process (being conducted by consultant RPS Energy) regarding the TE-5 Horst well location validate the group’s prior estimate, which put mid-case gross Gas Originally in Place at some 0.63 trillion cubic feet.
READ: Sound Energy completes first phase of 2D seismic in Morocco
RPS’s preliminary certification sees 0.65 TCF (mid-case GOIP) at the TE-5 Horst location alone, and it sets a recoverable, contingent resource figure of 0.377 TCF.
Sound highlighted that the certification, which is described as “very important step towards concession application”, covers only 1% of the total Eastern Morocco project area and fresh exploration work is being advanced in parallel with the initial Tendrara development operations.
Crucially, the TE-5 resource certification also moves the Tendrara start-up closer to final investment decision.