Sound Energy PLC Eastern Morocco: Aerial Gradiometry Results (8941W)

TIDMSOU

RNS Number : 8941W

Sound Energy PLC

20 November 2017

20 November 2017

Sound Energy PLC

("Sound Energy" or the "Company")

Eastern Morocco: Aerial Gradiometry Results

Sound Energy, the African and European focussed upstream gas company, is pleased to announce completion of the Airborne Full Tensor Gravity Gradiometry (FTG) and magnetic survey acquisition in Eastern Morocco.

The survey team, provided by AustinBridgeporth, flew a total of 26,700 survey line kilometres, across a total area of 22,800 square kilometres over the Tendrara, Matarka and Anoual licences in just less than twelve weeks. The survey, together with the new 2D seismic programme which is now underway, was commissioned to develop a better understanding of the subsurface structure and sedimentary succession.

The Company confirms receipt of a preliminary high resolution FTG and magnetic dataset, delivered on schedule and to budget, with highly encouraging results. Critically, these results include the delineation of previously unrecognised subsurface features and a clearer view of the deeper structure across the three licences. The preliminary data provides a far more detailed view of a deep, thick Paleozoic basin extending over the three permit areas, bounded by a series of NE-SW and NNE-SSW faults. The NNE-SSW fault trend is coincident with the Paleozoic anticline identified on 3D seismic beneath the TE-5 Horst (the possible third well location in the 2018 exploration programme). Other similar fault trends may indicate further Paleozoic potential. Following further data processing, likely mid-December, the Company expects to have an improved understanding of the exploration potential of the licence areas.

For further information please contact:

 
 Vigo Communications - PR                   Tel: [phone] 
  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 
 RBC Capital Markets - Broker               Tel: [phone] 
  Matthew Coakes                                           4000 
  Martin Copeland 
  Laura White 
 

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

This information is provided by RNS

The company news service from the London Stock Exchange

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November 20, 2017 02:00 ET (07:00 GMT)