We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.78 | 0.81 | 0.83 | 760,400 | 16:08:43 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | 4.97M | 0.0026 | 3.00 | 14.94M |
TIDMSOU
RNS Number : 1312K
Sound Energy PLC
05 July 2017
5 July 2017
Sound Energy plc
("Sound Energy" or the "Company")
Sidi Moktar: Successful Koba-1 Well Test
Sound Energy, the Moroccan and European focused upstream gas company, is delighted to report the success of operations to date at the Koba-1 well at Sidi Moktar, onshore Morocco.
The Company has successfully re-entered, completed, perforated and flared gas at surface from the Argovian reservoir (historically the main producing reservoir in the Kechoula discovery).
A five metre interval was perforated in the Argovian reservoir at a measured depth of 1406 metres where the static pressure was measured at 98 bar, confirming a producible gas accumulation. The Company has now temporarily suspended the well in preparation for a rigless extended well test - after which the Company hopes to move rapidly to production. The Koba-1 well, drilled at the crest of the Kechoula discovery, is close to existing infrastructure and gas demand, including the large scale Moroccan state owned OCP Phosphate plant.
The Company believes the Sidi Moktar licences also contain significant pre-salt potential and notes the quantitive assesment prepared by a previous operator in 1998 which referred to exploration potential of the Sidi Moktar licences of up to 9 Tcf unrisked gas originally in place (gross) in the TAGI and Paleozoic. The Company will require the reprocessing of existing 2D seismic, acquisition of new 2D seismic and drilling results before forming its own volume estimates for the exploration potential of the Sidi Moktar licences.
The Company also advises that due to poor quality cement bonding across the Lower Liassic in the Koba-1, and likely the Kamar-1, wells, the Company no longer intends to immediately re-enter the Kamar-1 well (subject to agreement with the regulatory authorities). The Lower Liassic at Kechoula will therefore be evaluated at a later date together with the deeper pre-salt.
As a result, the rig will be immediately released from Sidi Moktar and will likely return to the Company's licences in Eastern Morocco.
James Parsons, Sound Energy's Chief Executive Officer, commented:
"We are delighted by this early success at the Kechoula discovery and look forward to both the extended well test and to unlocking the deeper, and much larger, pre-salt potential in the future.
Our attention now turns back to our very significant position in Eastern Morocco where we are preparing for further near term drilling and seismic."
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.
Tcf means trillion cubic feet of gas.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLMMGGNGDDGNZZ
(END) Dow Jones Newswires
July 05, 2017 02:00 ET (06:00 GMT)
1 Year Sound Energy Chart |
1 Month Sound Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions