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Eastern Morocco: New Basin Model
Eastern Morocco: New Basin Model.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9793S Sound Energy PLC 29 June 2018 \n\n29 June 2018\n \nSound Energy plc\n(\"Sound Energy\" or the \"Company\")\n \nEastern Morocco: New Basin Model Suggests Anoual Oil Play\n \nSound Energy, the Moroccan focused upstream gas company, is pleased to confirm that it has now finalised a new geochemical and Basin Modelling study (the \"Basin Model\") across its Tendrara-Lakbir, Matarka and Anoual permits, Eastern Morocco (the \"Eastern Morocco Portfolio\"). \n \nThe key conclusions from the geochemical study and Basin Model are:\n \n· Hydrocarbon charge across the Eastern Morocco Portfolio is predominantly generated from a carbonate rich marine source rock, interpreted as of Devonian age.\n \n· The Basin Model predicts that there is sufficient gas charge available to fill the high graded TAGI leads and prospects.\n \n· The prediction of a potentially significant oil play within the Palaeozoic on the Anoual permit area (in addition to the Paleozoic gas play already identified). Further 2D seismic data is currently being acquired and processed over this play fairway, which is being evaluated as a candidate for the planned third exploration well (TE-11).\n \nThe Basin Model also enables the Company to provide estimated volumes for the range of hydrocarbons available for migration into mapped prospects and leads across the Eastern Morocco Portfolio and is an update on the work undertaken in early 2017. Preliminary volume estimates resulting from a previous basin model were first announced by the Company on 1 February 2017.\n \nFollowing receipt of the Basin Model, the Company is pleased to update the Company's internally estimated volumes for the exploration potential** of the Eastern Morocco Portfolio acreage, expressed as unrisked gross gas originally in place, of a low case of 7 Tcf, a mid-case of 20 Tcf and a high case of 34 Tcf. This range represents further support of the previous estimates announced on 1 February 2017.\n \nThe Company commissioned the Basin Model from the leading independent petroleum systems analysis consultancy, Integrated Geochemical Interpretation Ltd (IGI). IGI built the m...