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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sound Energy Plc | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.042 | -5.14% | 0.775 | 0.702 | 0.848 | 0.85 | 0.70 | 0.758 | 16,751,020 | 16:35:06 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | 0 | 4.97M | 0.0026 | 3.23 | 16.09M |
From Apr 2019 to Apr 2024
TIDMSOU
RNS Number : 1910I
Sound Energy PLC
26 August 2016
26 August 2016
Sound Energy plc
("Sound Energy" or the "Company")
Tendrara: TE-7 Drilling Commences
Sound Energy, the European and African focused upstream company, is pleased to confirm the commencement of drilling of the second well at Tendrara, onshore Morocco.
Following the recent success of the first Tendrara well (TE-6), a sub-horizontal appraisal well (the Company's second well on the licence; TE-7) was spud on 25 August 2016. The well objectives of TE-7 include proving sufficient gas volumes and well deliverability to enable finalization of the field development plan and a concession application and demonstrating the benefits of sub-horizontal drilling, which is expected to be implemented as the production well concept for Tendrara.
The TE-7 site is approximately 830 metres to the Northeast of TE-5 and hence some 1.6 kilometres from the TE-6 site. Drilling is planned to reach a total measured depth of 3440 meters with specific tools being used to geo steer the well at close to an 88 degree angle inside the TAGI reservoir to ensure a horizontal drain of between 600 and 900 metres. The sub-horizontal section will run to the North, parallel to the minimum horizontal stress observed in TE-6.
The TE-7 drilling programme is anticipated to follow key three phases:
-- Drilling and logging (approximately 54 days) -- Completion and stimulation (approximately 30 days) -- Clean-up and initial well testing (up to 10 days)
The Company looks forward to updating shareholders on achievement of each of the three casing points and achievement of total depth. The final results of the well will be announced after the initial well test.
An extended well test will follow for approximately 70 days thereafter to confirm production sustainability and to aid comprehensive field development planning.
For further information please contact:
Vigo Communications - PR Adviser Tel: +44 (0)20 7830 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 4000 Adviser Azhic Basirov David Jones Ben Jeynes ---------------------------------- ----------------------------- Cantor Fitzgerald Europe - Broker Tel: +44 (0)20 7894 8896 Sarah Wharry David Porter ---------------------------------- -----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLEAKPSASEKEFF
(END) Dow Jones Newswires
August 26, 2016 02:00 ET (06:00 GMT)
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