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Tendrara: Update on TE-7 Connected Gas Volume
Tendrara: Update on TE-7 Connected Gas Volume.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7951T Sound Energy PLC 25 March 2019 \n\n25 March 2019\nSound Energy plc\n(\"Sound Energy\" or the \"Company\")\n \nTendrara: Update on TE-7 Connected Gas Volume\n \nSound Energy, the Moroccan focused upstream gas company, is pleased to provide a further update on the TE-7 well reservoir pressure, following the latest retrieval of the pressure gauge data. The measured pressure data provides further information on the extent and quality of the reservoir at TE-7 and provides additional confidence for the development plan of the Company's existing TE-5 Horst discovery, which remains subject to Final Investment Decision.\n \nThe latest pressure measurements reveal a current reservoir pressure of 413.4 bara at the TE-7 well location with the pressure continuing to increase towards the original reservoir pressure of 422.6 bara confirmed by the Company on 19 July 2017. The period of pressure monitoring has been extended to observe this continued pressure increase and will continue. The pressure build-up trend is important information as it allows the Company to estimate the connected volume of in place gas (\"GOIP\") accessible by the TE-7 well.\n \nAnalysis of the pressures measured in the well recorded over time has led to an increase in the Company's estimate of connected GOIP around TE-7 to a volume exceeding 115 Bscf. Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected GOIP around TE-7 exceeded 40 Bscf. \n \nThe significant increase in the Company's estimates of minimum GOIP connected to the TE-7 well provides support for the Company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery.\n \nFor further information please contact:\n \n \n\n\n\nVigo Communications - PR Adviser\nPatrick d'Ancona\nChris McMahon \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\[email protected]\n \n \n \n\n\n\n\nCenkos Securities - Nominated Adviser\nAzhic Basirov\nDavid Jones\nBen Jeynes \n \n\n\nTel: +44 (0)20 7397 8900\n\n\n\n\nRBC - Joint Broker\nMatthew Coakes\nMartin Copeland\n \n\n\nTel: +44 (0)20 7653 4000\n\n\n\...