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Eastern Morocco: Exploration Drilling Programme
Eastern Morocco: Exploration Drilling Programme.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6131S Sound Energy PLC 04 October 2017 \n\n4 October 2017\n \nSound Energy PLC\n(\"Sound Energy\" or the \"Company\")\n \nEastern Morocco: Exploration Drilling Programme\n \nSound Energy, the African and European focussed upstream gas company, is pleased to announce a forthcoming, high impact, three well exploration drilling programme in Eastern Morocco.\nCommenting on today's announcement, James Parsons, Sound Energy's Chief Executive Officer said:\n\"Sound Energy is now approaching another exciting period of back to back drilling in Eastern Morocco. The three well exploration programme we are announcing today has the potential to significantly increase the core value of our Moroccan acreage and to establish Eastern Morocco as a prolific but low cost gas province, on the doorstep of large and growing energy markets.\" \nSound Energy and its partners hold significant gas exploration acreage in Eastern Morocco, which the Company internally estimates to include a total of 1.03 Tcf gas originally in place (\"GOIP\") over the greater Tendrara, TE-5 Horst and Lakbir and TE-4 highs (consisting of a mid-case 0.63 Tcf GOIP on the TE-5 Horst and an additional 0.4 Tcf unrisked GOIP over the Lakbir High and the TE-4 high). A reserves certification is currently underway on the TE-5 Horst core volumes of 0.63Tcf GOIP.\nIn addition to the Company's geophysical programme of a combination of aerial gravity gradiometry, 2D seismic surveys, 2D seismic reprocessing and geological studies, the Company now intends to accelerate its exploration drilling programme with a view to rapidly and materially increasing its discovered volumes in Eastern Morocco, thereby significantly increasing the core value of the Moroccan acreage and enabling right-sizing of the planned facilities.\nThe new exploration programme in Eastern Morocco includes three wells to be drilled back to back and will target high impact locations with significant exploration potential, with the aim of further unlocking the Company's internally estimated unrisked gross GOIP exploration potential volumes across Sound Energy's Eastern Moroccan acreage of 17 Tcf mid case (31 Tcf upside case and 9 Tcf low case), as announced on the 1 February 2017. \nThese exploration wells will span multiple target types across structural and str...