Sound Energy PLC (LON:SOU) has reported that the company’s ongoing 3D seismic campaign, onshore Morocco, is making progress.
The Phase 2 seismic is now mostly complete, that’s according to the explorer’s Twitter account.
News just in, 90% of Phase 2 Seismic is now complete at Tendrara, Eastern Morocco #SoundAAA pic.twitter.com/IwM4CtIxjF
— Sound Energy (@soundenergyplc) April 23, 2018
It is just one of a number of social media communications today regarding the company’s efforts in Morocco.
Today's recording operations for TEN-28 see a team prepare the ground before the vibe trucks get to work. Generally, we will cover a 10km radius over one-day #SoundAAA pic.twitter.com/r8ZSA96mV4
— Sound Energy (@soundenergyplc) April 23, 2018
Time to head over to Morocco! This is a small warehouse we built near the TE-2 site to house all of our planting ⁰equipment #SoundAAA pic.twitter.com/CWr4B7KeBy
— Sound Energy (@soundenergyplc) April 23, 2018
Good morning from our office in Morocco! Soon we’ll be showing you what happens during a day on site #SoundAAA pic.twitter.com/58I3x3fp7T
— Sound Energy (@soundenergyplc) April 23, 2018
Potential for a new hydrocarbon province
Last month, in its financial results statement, Sound Energy reaffirmed its belief that its assets onshore Morocco have the potential to become a material hydrocarbon province.
At that time, the company highlighted that the second phase of 2D seismic exploration is underway and is due to complete in the summer. It is planning additional wells for the Tendrara area later this year.
In terms of development, the company noted its ‘good progress’ for the TE-5 Horst project for which resource certification was issued in January. Contracting, engineering and financing works are progressing , alongside offtake and other commercial efforts.
Sound intends to apply for a production concession this year and it anticipates final project sanction in 2018.