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Eastern Morocco: Commencement of Drilling at TE-10
Eastern Morocco: Commencement of Drilling at TE-10.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7481J Sound Energy PLC 07 December 2018 \n\n7 December 2018\n \nSound Energy plc\n(\"Sound Energy\" or the \"Company\")\n \nEastern Morocco : Commencement of Drilling at TE-10\n \nSound Energy, the Moroccan focused upstream gas company, is pleased to confirm that the drilling at TE-10, the second well of a planned three exploration well campaign in Eastern Morocco, has commenced.\n \nThe TE-10 well will test the North East Lakbir prospect in the Company's Greater Tendrara permit and is located approximately 25 kilometres to the northeast of the recently awarded Tendrara production concession. \n \nThe well is designed to test both a material TAGI stratigraphic trap and a smaller TAGI structural closure. The North East Lakbir stratigraphic trap has updated mid case potential on a gross (100%) basis of 2.7 Tcf GOIP (4.5 Tcf GOIP upside case and a 1.5 Tcf GOIP low case) with a Sound Energy internally estimated chance of success of 14%. TE-10 lies within the stratigraphic trap, located on a smaller structural closure which has a mid case potential, on a gross (100%) basis, of 128 Bcf gas originally in place (\"GOIP\") (210 Bcf GOIP upside case and a 75 Bcf low GOIP case) with a Sound Energy internally estimated chance of success of 26%. \n \nThe well is expected to be drilling to a total depth at approximately 2,200m and is expected to take between 30 to 40 days. \n \nFurther announcements will be made, as appropriate, in due course.\n \n \nFor further information please contact:\n \n\n\n\n\nVigo Communications - PR Adviser\nPatrick d'Ancona\nChris McMahon \n \n \n\n\nTel: +44 (0)20 7390 0230\n\n\n\n\nSound Energy\nJames Parsons, Chief Executive Officer \nJJ Traynor, Chief Financial Officer\n\n\n \[email protected]\[email protected] \n \n\n\n\n\nSmith & Williamson - Nominated Adviser\nAzhic Basirov\nDavid Jones\nBen Jeynes \n \n\n\nTel: +44 (0)20 7131 4000\n\n\n\n\nRBC Capital Markets - Joint Broker\nMatthew Coakes\nMartin Copeland\n \n \n\n\n Tel: +44 (0)20 7653 4000\n\n\n\n\nMacquarie Capital (Europe) Limited - Joint Broker\nAlex Reynolds\nNick Stamp\n \n\n\n Tel: +44 (0)20 3031 2000\n \n \n\n\n\n\n \nThe information contained...