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Tendrara Certification - Preliminary TE-5 Results
Tendrara Certification - Preliminary TE-5 Results.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8914Z Sound Energy PLC 20 December 2017 \n\n20 December 2017\n \nSound Energy PLC\n(\"Sound Energy\" or the \"Company\")\n \nTendrara Volume Certification - Preliminary TE-5 Horst Results\n \nSound Energy, the African and European focused upstream gas company, is pleased to announce receipt of the preliminary results of the resources certification in relation to the TE-5 horst core volumes at the Company's Tendrara asset, onshore Morocco (\"Certification\"). \n \nThe Certification, which will include a full technical review of the Tendrara project, is being conducted by RPS Energy Consultants Ltd (\"RPS\"). The Certification, which utilises the latest SPE Petroleum Resources Management System (\"PRMS\") approved definitions of Reserves and Resources, is a very important step towards concession application and a Final Investment Decision. \n \nThe preliminary results of the Certification (final results on the Tendrara area are expected to be available in early January 2017) provide volumetric estimates for the TAGI-1 and TAGI-2 reservoir units in the TE-5 Horst. \n \nOn 23 May 2017, the Company announced an internal preliminary mid case gross Gas Originally in Place (\"GOIP\") estimate for the TE-5 horst of 0.63 Tcf. \n \nSound Energy is delighted to report that the preliminary results of the Certification validate this previous mid case GOIP (gross) estimate. \n \nPreliminary results of the RPS certification:\n \n· A mid case GOIP for the TE-5 horst alone of 0.65 Tcf \n· A 2C (mid case) recoverable, contingent resource for the TE-5 horst of 377 Bcf\n \nThe results of the Certification will be utilized for development planning and to advance development funding solutions, already under discussion. \n \nThe Certification was undertaken on an area of 250km2, which equates to around 1% of the total Eastern Morocco permit area of approximately 23,500km2. Planning for the Exploration drilling programme, announced on the 4 October 2017, continues in parallel with the development activity. This programme is an important step in unlocking the Company's previously estimated unrisked GOIP potential across all the Eastern Moroccan acreage, of 17 Tcf mid case (31 Tcf upside case an...