Share Name Share Symbol Market Type Share ISIN Share Description
Sound Energy LSE:SOU London Ordinary Share GB00B90XFF12 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -1.09% 45.50p 45.50p 46.00p 47.50p 44.75p 47.50p 4,492,296 16:35:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.8 -15.2 -2.5 - 307.65

Sound Energy PLC Badile Update

03/07/2017 7:00am

UK Regulatory (RNS & others)


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RNS Number : 8415J

Sound Energy PLC

03 July 2017

3 July 2017

Sound Energy plc

("Sound Energy" or the "Company")

Badile Update

Sound Energy, the African and European focused upstream gas company, is pleased to provide an update on the drilling of the Badile exploration well, onshore Italy.

The Company successfully set the 7" liner at 4375m and drilled to a total depth of 4472m measured depth. Further significant gas shows (gas chromatography measured C1 to C5) were encountered in an expanded Conchodon dolomitic reservoir section down to 4387m measured depth and in the primary Conchodon dolomitic reservoir at 4462m to 4472m measured depth. The significant gas shows in both the Upper and Primary Conchodon reservoirs were also accompanied by water influx and mud losses into what are believed to be fractures in the formation.

The gas shows suggest a 12m gas column was encountered below 4375m measured drill depth in the Upper Conchodon, beneath which, the water influx and resisitivity data are consistent with a gas/water transition zone. The Company has assessed this gas volume as sub commercial.

To verify this assessment, the Company is intending to run a limited set of logs which will, if confirmatory, likely be followed by operations to plug and abandon the well.

James Parsons, Chief Executive Officer of Sound Energy, commented:

"The likely sub commercial volumes at Badile are of course a disappointment.

Our focus now returns to our more material Eastern Moroccan position, where the seismic acquisition has begun and we are positioning for further drilling in Q4 of this year."

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact:

 
 Vigo Communications - PR                   Tel: +44 (0)20 7830 
  Adviser                                                  9700 
  Patrick d'Ancona 
  Chris McMahon 
  Alexandra Roper 
 Sound Energy                      j.parsons@soundenergyplc.com 
  James Parsons, Chief Executive 
  Officer 
 Smith & Williamson - Nominated             Tel: +44 (0)20 7131 
  Adviser                                                  4000 
  Azhic Basirov 
  David Jones 
  Ben Jeynes 
 RBC - Broker                               Tel: +44 (0)20 7653 
  Matthew Coakes                                           4000 
  Martin Copeland 
  Laura White 
 

The information contained in this announcement has been reviewed by Sound Energy's Exploration Director, Brian Mitchener, a chartered petroleum geologist.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 03, 2017 02:00 ET (06:00 GMT)

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