logo-loader

Sound Energy unveils plans for new three-well exploration campaign in Morocco

Published: 07:38 04 Oct 2017 BST

onshore drilling operation
Sound expects each of the three wells in programme will cost around US$10mln.

Sound Energy PLC (LON:SOU) has detailed a new three-well drill programme planned in Eastern Morocco, where it intends to follow up recent successes at the Tendrara project.

At Tendrara, the company sees just over 1 trillion cubic feet of gas resources while the broader eastern Morocco acreage is estimated to host some 17 trillion cubic feet and a new accelerated drill programme will target ‘high impact’ locations. The aim is to unlock more of the areas that contribute to the wider estimate.

READ: Sound Energy boss James Parsons “hugely excited” as Morocco gas business advances

"Sound Energy is now approaching another exciting period of back to back drilling in Eastern Morocco,” said James Parsons, Sound Energy chief executive said in a statement.

“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."

It will kick off with a well on the ‘A structure’, located some 25 kilometres north-west of Tendrara’s TE-5 well, where the company is targeting between 0.4 and 1.2 trillion cubic feet of gas.

Sound’s second new well will be positioned 20 kilometres north-east of TE-5, at a location named North East Lakbir. This larger target is an extension of the TAGI play and it is estimated between 1.2 TCF and 5 TCF, with the mid-case estimate set at 2.6 TCF.

READ: Sound Energy expands footprint as it prepares to open up commercialisation

Less detail is given for the third target which is described as “a Paleozoic test beneath the TE-5 Horst”.

A separate appraisal programme is under review, pending completion of this new exploration campaign.

Sound expects each of the three wells in programme will cost around US$10mln.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 4 minutes ago