Sound Energy Share Price (SOU)

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	Shares Traded	Last Trade
	-0.50p	-1.43%	34.50p	812,660	16:35:14

Bid Price		Offer Price	High Price	Low Price	Open Price
34.82p		34.98p	35.50p	34.00p	35.50p

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers		-12.34	-4.28		363.3

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Shell A (RDSA), BP (BP.), MX Oil (MXO), Path Investmen. (PATH)

Sound Energy (SOU) Latest News (4)

Sound Energy News

Date	Time	Source	Headline
26/10/2018	08:25	ALNC	Sound Energy Drills Eastern Morocco Well TE-9 To First Casing Point
26/10/2018	07:08	ALNCF	Alliance News Flash Headline
26/10/2018	07:00	RNSNON	Sound Energy PLC TE-9 First Casing Point (RNS Reach)
17/10/2018	09:18	ALNC	Sound Energy To Start Drilling At TE-9 In Eastern Morocco
17/10/2018	07:00	UKREG	Sound Energy PLC Eastern Morocco: Commencement of Drilling at TE-9
16/10/2018	09:48	ALNC	Sound Energy Gains Ministerial Approval For Petroleum Agreement
16/10/2018	07:00	UKREG	Sound Energy PLC Greater Tendrara Petroleum Agreement
11/10/2018	12:31	ALNC	Sound Energy Knows Of No Reason For Drop In Share Price
11/10/2018	11:14	UKREG	Sound Energy PLC Share Price Movement and Operational Update
01/10/2018	17:29	UKREG	Sound Energy PLC TVR and Block Admission Interim Review

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Date	Time	Title	Posts
26/10/2018	15:48	SOUND ENERGY PLC ►►►Focussed on the Mediterranean Area	13,672
17/10/2018	18:43	Sound Energy set to rocket	12
01/7/2018	18:32	SOU - Sound Oil plc	24,738
05/6/2018	08:30	Badile drilling issues?	45
04/3/2018	20:44	Yet again no announcement- False promises -I'm Baling out of this crap!	18

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Date	Subject
27/10/2018 09:20	Sound Energy Daily Update: Sound Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SOU. The last closing price for Sound Energy was 35p. Sound Energy has a 4 week average price of 28.86p and a 12 week average price of 28.86p. The 1 year high share price is 58.90p while the 1 year low share price is currently 28.86p. There are currently 1,052,913,182 shares in issue and the average daily traded volume is 1,297,631 shares. The market capitalisation of Sound Energy is £363,255,047.79. Read Full Thread Reply
11/10/2018 12:44	hmrc inspector: Sound Energy, the Moroccan focused upstream gas company, notes the recent movements in its share price, confirms that it knows of no operational or corporate reason for the movements and provides the following operational update on the Company's portfolio, onshore Morocco. Eastern Morocco: TE-9 and TE-10 TE-9, the first well of a planned three exploration well campaign, will test the A1 prospect in the Company's Greater Tendrara permit. The well is an exploration well located approximately 19 kilometres to the northwest of the recently awarded Tendrara production concession and is intended to drill both the TAGI as the primary target and the underlying Paleozoic as the secondary target. On 4 June 2018 the Company announced the final results of a CPR on the TE-9 TAGI reservoir with a mid-case of 624 Bcf, a low-case of 278 Bcf and a high-case of 1254 Bcf (unrisked undiscovered Gas Originally in Place). Ahead of drilling TE-9, the Company is pleased to report that the rig-up process is now complete and that preparations for rig acceptance are underway. Spudding of TE-9 is expected next week. The TE-9 main well bore will be drilled and logged to a true vertical depth ("TVD") of approximately 3,022 metres and is expected to take between 35 to 45 days. The Company looks forward to updating investors on achievement of each of two casing points (13 3/8" casing and 9 5/8" casing), the setting of a 7" liner (if required) and achievement of total depth. Investors will be able to observe live operations through the Company's webcam, available on the Company's website. The Company also confirms that ground works at TE-10 have begun. Eastern Morocco: Development Following Ministerial meetings this week, the Company confirms that it continues to make strong progress in relation to a gas sales agreement. The Company has also this week hosted a senior team from the consortium conditionally providing the infrastructure and is pleased to confirm that the FEED and the BOOT negotiations are progressing well. Eastern Morocco: Seismic Final Phase I processed products were received in February followed by Phase II in July allowing the Company to define locations for TE-9 and TE-10 and interpret additional upside options in the deeper Palaeozoic. Processing of Phases III and IV is expected to complete this month, after which the Company will be in a position to select the location for TE-11 from the range of available options. TE-11 is expected to have a primary Palaeozoic target with a secondary target in the TAGI. Southern Morocco As announced on 5 June 2018 the Company initiated a farm out process for the Sidi Moktar onshore licence with the objective of funding the forward work programme whilst retaining operatorship and has subsequently shared technical data with multiple potentially interested parties. As a result of this the Company is now in discussion with a few remaining parties and will update the market in due course. Investor Engagement The Company looks forward to hosting investors on site next week and in the meantime is delighted to host a Fireside Chat with investors at 10am tomorrow. Further announcements will be made, as appropriate, in due course. Read Full Thread Follow Reply
15/6/2018 12:29	easybrent: Sound Energy RNS today – beyond stupidity and desperation - Sound Energy CEO, James Parsons, is taking its PR strategy today to a new level of stupidity and desperation. - Todays RNS informs its investor that the company have decided on a well location for TE-9 - What dosent make any sense is that Sound Energy have already put out a “Final Competent Person’s Report: A1 Prospect (TE-9). - To be able to perform a CPR report on a prospect technical people needs to model plenty of seismic data, with the location of the prospect and simulate in 3D what the prospect looks like, its inevitable in the process not to have a very clear idea where the well location will be for the process. -> Todays RNS shows several things: 1. Sound Energy level of desperation to put out news to support the share price, before a possible capital increase (yes Sound doesn’t have enough money to drill the next exploration well, cover SG&A and nowhere near any money to finance development wells). 2. Sound Energy management team, is by putting out these kinds of RNS really assuming that their shareholder and possible new investor are stupid, and that is a mistake. Companys should not assume that their shareholder is idiots. Read Full Thread Follow Reply
09/12/2017 18:32	hpotter: Thanks to Salem/Pardeep for following this up. Saleem Khadir and Pardeep Verma posted in Sound Energy Plc - Investors' Group. Saleem Khadir December 8 at 4:04pm Response from the company to my query regarding the £1.50 per TCF. Thanks very much for joining the shareholder event in London and for your questions today. Let me expand a bit on the £1.50 / share rule of thumb that we discussed on the 6th of Nov. Firstly some back ground on the economic modelling in Tendrara - We make detailed economic forecasts for gas field developments in Tendrara, and this ensures that we are making the best commercial decisions for the shareholders. We are applying standard industry practice, and this combines the detailed engineering, reservoir and commercial solutions into an economic model for the field. All of that information is then used to calculate the free cash flow that the field will produce over its production life – free cash flow defined as operating cash flow after taxes, less capital costs. Standard industry practice is then to ‘discount̵7; that future cash flow stream into the net present value of the field – the “NPV” - which is a number that represents all of the costs and revenues of the project over its full cycle, expressed in today’s money. When we make these calculations, it’s normal to get a wide range of potential outcomes, depending on the assumptions we make for inputs such as reserves, capital cost, discount rates, gas price etc. We typically look at low-mid-high case outcomes, and make sure that shareholders are protected in the downside, and have good leverage to the upside. Estimating a ‘rule of thumb’ for shareholders - We want to continue to be as transparent as possible with our shareholders, and we have had quite a few questions from your selves on how to value the multi-TCF exploration programme that we have underway. The rule of thumb that we have given you is that 1 TCF of recoverable gas resources for Sound is worth approximately £1.50/share. Let me explain how we get to that number. The £1.50/share rule of thumb is the net present value of 1TCF of recoverable gas resources for Sound. It is scaled up from the economic models that we are maturing for the smaller Te-5 field - a fully loaded development with a 20” gas export pipeline, new wells and a new gas processing facility. The rule of thumb is calculated using a 10% discount rate, from an undiscounted free cash flow of £4 billion, or £3.90/share undiscounted, for 1 TCF of recoverable gas resources. There are in reality a wide range of potential economic outcomes from a new development. You should expect this rule of thumb to move around (up or down) as we get closer to the Te-5 FID, which is an important calibration point for the economics of the exploration programme. For example, a 2 percentage point reduction in the discount rate would increase the rule of thumb by some 20% to £1.80. If the development were to go ahead with a 12” pipeline rather than 20”, and the gas was sold at the $12/mcf gas prices than some smaller players are seeing in Morocco, then the rule of thumb would potentially increase by 80%, to £2.70/share. These are obviously more optimistic scenarios, but clearly there is a lot to play for in value creation ahead of us. I would warn against “false precision”! Spreadsheet outputs are not always what we see in the real world. Overall, the rule of thumb that we have provided is a good guideline for valuing exploration potential, and we are intending to update you on that figure as the parameters change. Like any company, we are not able to comment specifically on our share price. In general, growth stocks like Sound are valued on their current asset bases, and on the future potential from exploration. Investors in growth stocks often try to calculate what is “discounted into the share price”, in other words how much future growth potential is priced in, as well as established assets. Again, thanks very much for the joining the event in London yesterday evening and for your follow up questions. Thanks and regards Read Full Thread Follow Reply
12/9/2017 07:05	james_jones: RNS hTTps://uk.advfn.com/stock-market/london/sound-energy-SOU/share-news/Sound-Energy-PLC-Completion-of-OGIF-Acquisition-an/75623720 Sound Energy PLC Completion of OGIF Acquisition and Issue of Equity 12/09/2017 7:00am UK Regulatory (RNS & others) RNS Number : 4317Q Sound Energy PLC 12 September 2017 Sound Energy plc ("Sound Energy" or the "Company") Completion of OGIF Acquisition and Issue of Equity Sound Energy, the African and European focused upstream gas company, is pleased to announce the completion of the Company's previously announced acquisition by the Company of the interests of Oil & Gas Investment Fund S.A. ("OGIF") in Eastern Morocco (the "Acquisition") following receipt of final approvals in relation to the Anoual and Tendrara licence areas. As a result, the Company now holds: -- An operated 75% position, of which 27.5% is shared with Schlumberger resulting in a net 47.5% position for the Company, in the Tendrara petroleum agreement; and -- An operated 75% position, of which 27.5% is shared with Schlumberger resulting in a net 47.5% position for the Company, in the Anoual petroleum agreement (formely the Meridja reconnaissance area); and -- An operated 75% position, of which 27.5% is shared with Schlumberger resulting in a net 47.5% position for the Company, in the Mararka reconnaissance exploration licence (covering the previously relinquished Tendrara acreage). In consideration, the Company will now issue 272,000,000 new ordinary shares to OGIF (the "Consideration Shares"). The issue of the Consideration Shares, which represent 27.0% of the Company's issued ordinary share capital, as enlarged by the issue of the Consideration Shares, was approved by Sound Energy shareholders on 15 March 2017. Application will be made to the London Stock Exchange plc for the Consideration Shares, which rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). Dealings are expected to commence at 8.00 a.m. on 18 September 2017. Following the issue of the Consideration Shares the Company will have 1,007,429,393 ordinary shares in issue. From Admission, the relationship agreement between the Company and OGIF (the "Relationship Agreement"), will take effect. Further details of the Relationship Agreement are provided in the circular posted to Sound Energy shareholders on 21 February 2017 (and available on the Company's website at www.soundenergyplc.com). This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. Read Full Thread Follow Reply
19/7/2017 16:28	lowflow: I think its very likely that the stock will be below 40p in August, and I tell you why here: 1. The current gas discovered in Tendrara doesn't support the current share price. James was very unclear about the 1 TCF = £1 on the last call, he would stand behind that number anymore. I am not surprised, as a number of variables have changed since they made that statement: a) The number of shares has exploded (James and the team have printed options / warrants to suppliers, BOD, lenders, former director and just anyone who borrowed the WC at the Seven Oak office), b) The gas price assumption they used in the Sep 2015 CPR, just doesn't hold anymore. Algeria is selling gas to Spain and Italy for $5-5.5 / mcf, so why the h.ll would Morocco utilities pay a premium to this price. Anyone who now claims that SDX is getting much higher prices and Sound should get the same prices, needs to consider that SDX is producing very small volumes and their sales can more be seen as distribution sale to small local industries while Sound sale will be going to CCGT requiring 10-20x what SDX is selling. 2. Sound needs to raise capital, you will now say that - NO James said on the call that they wont. I tell you one thing, I have listen to a lot of these investor calls, and in my view James was indeed warming up the market for a capital increase. And they need to raise equity and its pretty simple why they need to do that. They have $40m in cash and $30m in debt, and to be frank I think Grenberry who have written the bond to Sound feels that its pretty important that Sound holds a solid cash balance to support this bond. The more important reason to raise cash is the following. Sound next well will be on Tendrara or in that area. Sound can afford its share of the well with the cash balance. But if you consider the implication of the result of this well you will see that the conservative and most prudent thing to do is to raise cash before drilling this well. If the well comes in great, the stock will bounce. But as we know all wells dosent come in (Badile and TE-8). So if the next Tendrara dosent come in, the stock will be slaughtered, as they market will read it as, there might not be more to Tendrara than the discovery around TE5-TE7 and the stock could easily half to 20-25p. Considering this its much smarted to raise $30-50m before drilling this well, so they have plenty of cash to drill additional exploration/appraisal wells and support the Tendrara development of the next well is a duster. Raising $30-50m will put pressure on the stock, but its much better than raising $30-50m below 20p in Q1 2018 if the next well is a duster (if the equity market is even open for them). The pressure to raise cash will build up over the coming months and put pressure on the stock. 3. The fall in the share price is starting to get self-fulfilling. A lot of retail investor has put in significant parts of their savings and pensions in Sound. Most of them might have thought that they would take a fall in the share price and hold for the long run. But as we all know this is not the way psychology works. When the stock keeps going down 55p, 50p, 45p, 40p etc. The holders will feel significant pain and they will have to sell some of their positions as it’s the prudent thing to do. Golden Tickets are nice to have but in the end of the day its better to have some savings left rather than putting everything on James Golden Tickets. Below 40p in August. Read Full Thread Follow Reply
05/7/2017 11:03	kevjames: Good job the RNS was positive - otherwise we would be in the 40's! Daybreakers - My research tells me that eastern Morocco could be a very lucrative gas producing area - if SOU can prove up the area with both seismic and the drill bit ( and the gas flows well ) then there is no doubt the economics will play out as there is demand for gas at good prices, there are tax incentives to explorers and there is already some supporting infrastructure. Is the shareprice worth 10 p or £10 - depends on what happens going forward, we currently have 0.5 TCF and the goal is 30TCF. If each TCF is worth £1 to the SOU share price, then even if only 2 TCF is proven, that is nearly a 4 bagger from here. The goal is to sell the asset at some point in the next 18-24 months. The downside is that they can't flow the gas (clearly the gas exists) and we need more funds or they go broke in trying to prove it up. Place your bets and GLA, I am still a buyer on the dips. However, if news suggests that the gas cannot be economically extracted from Tendrara (which seems unlikely given the TE6 and 7 data)then I will be out. Read Full Thread Follow Reply
23/5/2017 08:23	terry topper: Cantor's comments: Sound Energy (BUY) – Final TE-8 results and revised estimates up to 1.03Tcf SOU LN (70p, TP 76p), Market Cap: £508m Our view: Following an active drilling programme at Tendrara, Eastern Morocco, Sound has today issued its revised internally generated resource estimates for locations that have been drilled. The company estimates that there is a total of 1.03Tcf (gross) GIIP, consisting of a mid-case of 0.63Tcf on the TE-5 horst and an additional 0.40Tcf unrisked GIIP (gross) over the Lakbir High and the TE-4 high up-dip of the well. Prior to the drilling of TE-8 the company had internally estimated GIIP over the TE-5 horst of between 0.3Tcf and 0.5Tcf (gross). Final Investment Decision ("FID") on the initial development of the estimated 0.63Tcf GIIP over the TE-5 horst is planned for end of 2017. A competent persons report (CPR) will be conducted pre-FID.We will therefore leave our volumes unchanged until they are confirmed through this third party analysis later this year. The company continues its drilling activities at Sidi Mokhtar (Morocco) and Badile (Italy), which will provide a number of near term share price catalysts. We therefore retain our BUY rating and 76p TP. • Resource estimate grow to 1.03Tcf unrisked - Based on these final TE-8 results, the company has now reassessed its internal volumetric estimates within the area of the Tendrara 3D seismic, and today reports internal preliminary volume estimates over the Tendrara greater TE-5 horst and Lakbir and TE-4 highs to a total of 1.03Tcf (gross), consisting of a mid-case of 0.63Tcf on the TE-5 horst and an additional 0.40Tcf unrisked over the Lakbir High and the TE-4 high up-dip of the well. FID on the initial development of the estimated 0.63Tcf over the TE-5 horst is planned for end of 2017. A competent persons report will be conducted pre-FID. • Sound continues to build out its Moroccan footprint - As announced last week, the SAIPEM rig used to drill TE-8 has now arrived on site at Sidi Moktar in Western Morocco. Two wells will be re-entered and tested by Sound, Koba-1 and Kamar-1, have already been drilled at Kechoula by previous operators and have been estimated to have a gross unrisked mid case original gas in place in the Lower Liassic reservoir of 293Bcf. 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. • Attractive entry point - We believe that Sound has sufficiently grown its acreage position to become a material player in Mediterranean gas. The company is benefitting from attractive and robust pricing fundamentals which have served to boost project economics. With a number of drilling catalysts in the short term, supported by a robust financial position, and a funded 2017/18 drilling campaign, we see Sound’s current share price as representing a compelling entry point for investors. We therefore reiterate our BUY rating and 76p TP. • Risks – Geological risk, exploration risk (Badile), Government risk (Italy). Read Full Thread Follow Reply
18/4/2017 13:58	lowflow: Big question marks ahead The TE-8 well has not turned out to be the homerun, the market was hoping for. Its now been 20 days since Sound announce the result from TE-8, but with the caveat that they don’t have the full result until the cores from the well has been analyzed. We have had a few RNS since the TE-8 results announcement but neither of these announcements has given any incremental information about the TE-8 results. The company has 1.117bn shares in issue after the OGIF deal and including all warrants and options, that equates to a market cap of £770m or $961m. To justify this market cap Sound needs to find considerably more than the 300-500 bcf of gas in place they found at the core of Tendrara. Sounds owns 47.5% of this discovery. The expected recovery rate is 65%, which means that the net recoverable resources to Sound is 92-154 bcf or 15-26m boe. At the current share price the market is valuing this resources to $37-63/boe, which makes these resources to some of the most expensive on the market, assuming that Sound isn’t discovering any additional resources. The last weeks RNSs creates several questions marks to the Sound story. The issues began to arise when TE-8 didn’t come in like most shareholders had hoped for. Before TE-8 was drilled the game-plan was something like this: -> Drill TE-8 and prove up 1.5 TCF and prove up the Paleozoic -> Re-entry TE-1 and prove up 3-4 TCF -> Commission the CPR report which would put a more precise value on the 3-4 TCF, which would more than justify the current share price. -> Complete the large seismic program over Tendrara. The result from the seismic program would give a more precise picture of the size of the various prospect. And a path to the possible multiple TCF asset. This game-plan seems to have been knocked of the road since the completion of TE-8. -> TE-8 didn’t not turn out to be a homerun. The TAGI was tight and the Paleozoic seems to be a tighter rock as well. The results seem to be so inconclusive that 3 weeks in the lab has not been enough to decide what they have found. Maybe they should have sent the samples to CSI for a full forensic study instead! -> Todays RNS shows that there are big questions marks if and when the TE-1 well will be re-entered, as the rig is sent to Sidi-Moktar. The company has in the past said that its was of the highest priority to re-entry TE-1 if TE-8 was a success. -> It seems like the most likely scenario is now that Sound wants to completed the seismic program over the Tendrara block before they will drill additional wells. From an industrial perspective, it makes sense, but from a hyped AIM stock perspective its killing the equity story for many months to come. If this is the case it could very well be that Sound wont re-entry or drill anymore wells in the Tendrara block in 2017. Today’s RNS creates additional question marks when it comes to Sidi-Moktar. In the 2016 Annual Report, which came out 6 days ago the company wrote the following: Page 23 “In accordance with the Heads of Terms announced on 10 March 2016, Sound Energy’s effective interest in Sidi Moktar is expected to reduce to 25%, with the Company carried for the first $18m gross capital expenditure invested in the licence.” In todays RNS, Sound mgmt. explains that the company is so well capitalized that they don’t need to farm-out Sidi-Moktar. This seems a little bit odd as they 6 days ago thought it was a brilliant move to financially de-risk the asset by farming it out. Maybe James realized over the Easter Holiday, while eating some Chocolate Cupcakes that, hey we got plenty of cash in the bank lets not farm-out Sidi-Moktar. Lets not get into how this incremental spending adds up with the announcement of a share buyback 6 days ago. Today’s RNS, seems also to be an attempt to create some hype over the Sidi-Moktar asset, James or his assistant or someone else has over the long weekend managed to dig out a report from 1998 saying that someone at that time thought the block could hold 9 TCF. If I would be a guessing man I think James will continue this path and try to refocus investor interest on Sidi-Moktar when he will do his webcast next week. Nothing wrong with spreading some light on Sidi-Moktar but it probably tells you that Tendrara isn’t going to turn out to be the discovery of a decade as James has been talking about, at least not in the near future. Read Full Thread Follow Reply
10/2/2017 17:00	brookemia: Question and Answer to James yesterday, and just received answer guys, happy to share! Morning James, Hope today is going well and everyone close to you is hale and hearty. I was wondering if I might elicit an answer to a question that has been going around my head, and other investors. Sound is comprised of four elements,3 being in Morocco and Badile. If-after TE8 and further drilling/successful assessments/CPR, the share price went to £x per share. A would be suitor says, we should like to buy out Sound in Morocco and offer £XXXXXXXXXX, and Sound says yes, and the share price went to £xx per share, how would the remaining Badile investment apportionment be judged? In essence James, I am asking if there is/will be an apportionment of nominal MCAP per element or in Morocco/Italy ? Hello Alan and Wendy. Thanks for your question. Let me try to explain. Were someone to offer Sound to purchase it’s Moroccan asset and Sound accept the deal then Sound would exchange the asset for cash. The effect on the share price would theoretically be nil if the market perception of value of the asset was the same as the cash received. The Company could then chose to distribute the cash to shareholders in a tax efficient manner. Once the cash was distributed the share price should fall by the amount of the cash distributed divided by the number of shares in issue (although shareholder would be indifferent as they would hold the cash plus the shares). This is a rather theoretical question of course but I hope the logic makes sense. James Read Full Thread Follow Reply
16/12/2016 16:29	brookemia: Is now the time to buy Sound Energy? Share 11:02 15 Dec 2016 With a number of event driven catalysts on the horizon, supported by a robust financial position, and now a funded 2017 drilling campaign, we see Sound’s current share price as representing a compelling entry point for investors - Sam Wahab. Sound has sufficiently grown its acreage position to become a material player in Mediterranean gas, the analyst said The current share price represents an attractive entry point for would-be investors in Sound Energy (LON:SOU), the gas exploration company focused on Morocco and Italy. That, at least, is the belief of Sam Wahab, analyst at Cantor Fitzgerald. The shares, down 5% at 68p in morning trade, are worth 103p, according to the Cantor number cruncher. READ - Sound Energy primed to drill new well; reveals internal estimates for Morocco READ - Today's announcement in full Wahab’s call on the stock followed an update on drilling plans and publication of its first internal estimates of the scale of its Tendrara gas asset in Morocco. “We believe that Sound has sufficiently grown its acreage position to become a material player in Mediterranean gas,” the analyst said in a note to clients. “The company is benefitting from attractive and robust pricing fundamentals which have served to boost project economics. “With a number of event driven catalysts on the horizon, supported by a robust financial position, and now a funded 2017 drilling campaign, we see Sound’s current share price as representing a compelling entry point for investors.” For finnCap’s Dougie Youngson, who rates Sound a ‘buy’ up to 87p, one of the major potential ‘dial movers’ is the results from extended well test on latest well at Tendrara. “The purpose of this is to confirm the sustainability of the initial flow tests seen during the current work programme,” he said. The latest from Sound Earlier, Sound provided some guidance on the potential scale of Tendrara licence. Currently, the Sound team reckon there is between 300bn and 500bn cubic feet of gas in place based on the work carried out to date. The next well, a step out some 12 kilometres from the last hole, will test the lateral extent of the gas accumulation. If it successfully finds gas at commercial rates via TE-8, then the estimate for Tendrara rises to up to 1.5 trillion cubic feet in place. In a release to the stock exchange, Sound provided an update on the next well, where work is slated to start in February. It will test the TAGI reservoir as well as tapping for the first time the lower lying Palaeozoic horizons. Sound also confirmed it had retrieved memory gauges from its last hole, TE-7, that confirm “the reservoir pressure correlates with the gas gradient recorded at all previous wells on the structure”. Read Full Thread Follow Reply

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