Sound Energy PLC Badile Update and Rig Mobilisation (3708T)

TIDMSOU

RNS Number : 3708T

Sound Energy PLC

05 January 2017

5 January 2017

Sound Energy plc

("Sound Energy" or the "Company")

Badile Update and Rig Mobilisation

Sound Energy, the African and European focused upstream gas company, is pleased to confirm that:

   --        Ground works at the well site are now complete. 
   --        The conductor pipe was set last week. 
   --        The 3000 HP EMSCO C3 rig, owned by Pergemine S.p.A, has been mobilised. 

The mobilization and rig-up operations are expected to be completed by the end of February 2017, enabling drilling to commence during March.

The Badile exploration well is planned to be drilled to a total depth of 4,600m to test the hydrocarbon potential of the Lower Jurassic Conchodon Dolomite with an independently assessed 100% unrisked best case estimate of 178 Bscfe, an upside high case in excess of 670 Bscfe and low case of 46 Bscfe.

For further information please contact:

 
 Vigo Communications -                      Tel: [phone] 
  PR Adviser                                               9700 
  Patrick d'Ancona 
  Chris McMahon 
  Alexandra Roper 
 Sound Energy                      [e-mail] 
  James Parsons, Chief Executive 
  Officer 
 Smith & Williamson - Nominated             Tel: [phone] 
  Adviser                                                  4000 
  Azhic Basirov 
  David Jones 
  Ben Jeynes 
 Cantor Fitzgerald Europe                   Tel: [phone] 
  - Broker                                                 8896 
  Sarah Wharry 
  David Porter 
 

The information contained in this announcement has been reviewed by Sound Energy's Moroccan Managing Director, Luca Madeddu, a qualified petroleum geologist. The Company's internal estimates are made in accordance with SPE standards.

Bscfe means billion standard cubic feet of gas equivalent; low,best and high case estimates refer to finding given volumes consistent with SPE (The Society of Petroleum Engineers) guidelines on Prospective Resources.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 05, 2017 02:00 ET (07:00 GMT)