08:00 Wed 17 May 2017
Sound Energy PLC - Sidi Moktar: Rig Arrival and Work Programme
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The two wells to be re-entered and tested by the Company, Koba-1 and Kamar-1, have already been drilled at Kechoula by previous operators and have been estimated to have an unrisked mid case original gas in place ("GOIP") in the Lower Liassic reservoir of 293 Bscf (gross). The Company notes the quantitive assesment prepared by a previous operator in 1998 which referred to exploration potential of the Sidi Moktar licences of up to 9 Tcf unrisked GOIP (gross) in the TAGI and Paleozoic. The Company will require the reprocessing of existing 2D seismic, acquisition of new 2D seismic and drilling results before forming its own volume estimates for the exploration potential of the Sidi Moktar licences.
In the near term, the Company plans to complete a 2 stage workover of the two wells, which will include:
· Completion, perforation and testing of the Lower Liassic in Koba-1, with possible additional testing of the Argovian - all expected to commence before the end of
· Completion, perforation and testing of the Lower Liassic in Kamar-1, with a possible additional testing of the Dogger - all expected to start
Should the wells deliver a commercial flow rate, the Company will complete an Extended Well Test and assuming a successful test, target first commercial gas to the domestic market, around the end of 2017.
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For further information please contact:
Patrick d'Ancona
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Tel: +44 (0)20 7830 9700 |
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Smith & Williamson - Nominated Adviser Azhic Basirov
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Tel: +44 (0)20 7131 4000 |
RBC - Broker |
Tel: +44 (0)20 7653 4000
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The information contained in this announcement has been reviewed by
Tcf means trillion cubic feet of gas; Bscf means billion cubic feet of gas.
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