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Sound Energy’s roadmap to production in Morocco
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07:00 06 Oct 2016
The document ‘road-maps’ development, starting with the horizontal well, TE-7, followed by TE-8, which will test the extent of the gas opportunity.
Sound Energy’s roadmap to production in Morocco
Sound reveals just when it expects to turn on the taps.
Sound Energy PLC (LON:SOU) is hoping to produce its first commercial gas from the Tendrara property in Morocco in the first half of 2019, according to a corporate presentation, uploaded to the company’s website.
The document ‘road-maps’ development, starting with the horizontal well, TE-7, followed by TE-8, which will test the extent of the gas opportunity.
According to the updated literature the near-term potential of the asset could be anywhere up to 3-4 trillion cubic feet of gas.
Flow rates from Te-6, Sound’s first well on the Tendrara acreage, impressed both the management and the wider investment community.
Flow rates better than expected
Finance director Mary Hood in a recent Proactive Investors interview said: “Did the multi-TCF potential surprise us?
“No, it didn’t, but, what we were looking for was a commercial flow rate of say 3 to 3.5 million scuffs [standard cubic feet or ‘scf’] per day, and what we’ve actually got from that first well, the T6 well, is a flow rate of 17mln scuffs per day.”
She added: “It definitely surpassed our expectations.”
Tendara could be a far larger regional play as it also has a 55% interest in the neighbouring Meridja permit.
Both are within 75 miles of a gas pipeline that plugs Algeria and Morocco into the main gas grid of Spain and Portugal, the presentation pointed out.
Sound Energy has been one of the in-form stocks of 2016 and is up 400% since the start of July on the back of its success in Morocco.
http://www.proactiveinvestors.co.uk/...co-166953.html
Sound Energy’s roadmap to production in Morocco
Share
07:00 06 Oct 2016
The document ‘road-maps’ development, starting with the horizontal well, TE-7, followed by TE-8, which will test the extent of the gas opportunity.
Sound Energy’s roadmap to production in Morocco
Sound reveals just when it expects to turn on the taps.
Sound Energy PLC (LON:SOU) is hoping to produce its first commercial gas from the Tendrara property in Morocco in the first half of 2019, according to a corporate presentation, uploaded to the company’s website.
The document ‘road-maps’ development, starting with the horizontal well, TE-7, followed by TE-8, which will test the extent of the gas opportunity.
According to the updated literature the near-term potential of the asset could be anywhere up to 3-4 trillion cubic feet of gas.
Flow rates from Te-6, Sound’s first well on the Tendrara acreage, impressed both the management and the wider investment community.
Flow rates better than expected
Finance director Mary Hood in a recent Proactive Investors interview said: “Did the multi-TCF potential surprise us?
“No, it didn’t, but, what we were looking for was a commercial flow rate of say 3 to 3.5 million scuffs [standard cubic feet or ‘scf’] per day, and what we’ve actually got from that first well, the T6 well, is a flow rate of 17mln scuffs per day.”
She added: “It definitely surpassed our expectations.”
Tendara could be a far larger regional play as it also has a 55% interest in the neighbouring Meridja permit.
Both are within 75 miles of a gas pipeline that plugs Algeria and Morocco into the main gas grid of Spain and Portugal, the presentation pointed out.
Sound Energy has been one of the in-form stocks of 2016 and is up 400% since the start of July on the back of its success in Morocco.
http://www.proactiveinvestors.co.uk/...co-166953.html
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