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Sound Energy says well pressure data has boosted Tendrara development plan

More gas may be accessible to the TE-7 well at the Tendrara field development project, according to pressure build-up data

oil and gas operations
At least 115bn cubic feet of gas (GOIP) is connected to the well, Sound said

Sound Energy PLC (LON:SOU) has given investors additional technical insights with the release of information from pressure build-up analysis in the TE-7 well, onshore Morocco.

The trend observed in the well pressure data over time indicates that higher than previously estimated volumes of gas will be accessible from the well.

READ: Sound says it is “financially well positioned” for rest of 2019

Sound described a continuing increase in pressure towards the original reservoir pressure and the pressure build-up testing has now been extended.

Data recorded to date has led to an increase in Sound’s estimate of gas-originally-in-place (GOIP) connected to the well to at least 115bn cubic feet, up from a prior estimate of at least 40bn.

“The significant increase in the company's estimates of minimum GOIP connected to the TE-7 well provides support for the company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery,” Sound said in a statement.

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Price: £0.09

Market: AIM
Market Cap: £95.55 m
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