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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.001 | 0.12% | 0.818 | 0.838 | 0.88 | 0.818 | 0.70 | 0.758 | 16,393,375 | 10:59:27 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | 0 | 4.97M | 0.0026 | 3.15 | 15.71M |
From Apr 2019 to Apr 2024
TIDMSOU
RNS Number : 4280L
Sound Energy PLC
19 July 2017
19 July 2017
Sound Energy plc
("Sound Energy" or the "Company")
Tendrara: TE-7 Pressure Build Up
Sound Energy, the African and European focused upstream gas company, is pleased to provide an update on the TE-7 extended well test, including an initial measurement of the reservoir pressure build-up response.
In January 2017, the Company finalised the draw down phase of its extended well test at TE-7, the Company's second well at Tendrara, onshore Eastern Morocco. As announced on 19 January 2017, the Company flowed close to 1.0 Bcf over a period of 56 days during this phase. The Company has subsequently retrieved the downhole pressure gauges from TE-7 to analyse the initial reservoir pressure response.
The bottom hole pressure was recorded at 393.8 bar (against a final drawdown flowing reservoir pressure of 140 Bar in January 2017, immediately following the test, and an original reservoir pressure of 422.6 Bar). The Company therefore concludes that TE-7 has demonstrated a very strong pressure recovery to date. As expected with low permeability reservoirs, the pressure build up is still ongoing and pressure stabilisation is estimated to require a further six to eight months.
Reservoir simulations suggest that, once the reservoir has reached full pressure stabilisation, the estimated connected gas volumes in place (gross, unrisked) for production from TE-7 are 40 Bscf. This is consistent with the Company's preliminary volume estimates announced on 23 May 2017 and enables the Company to confirm a field development concept with regular spacing of sub horizontal stimulated wells, similar in design to TE-7.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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 Adviser Tel: +44 (0)20 7131 4000 Azhic Basirov David Jones Ben Jeynes RBC Capital Markets - Broker Tel: +44 (0)20 7653 4000 Matthew Coakes 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.
Bscf means billion cubic feet of gas.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUPCMUPMGAR
(END) Dow Jones Newswires
July 19, 2017 02:00 ET (06:00 GMT)
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