Sound Energy PLC (LON:SOU) has released a new competent persons report for the A1 prospect, confirming the potential scale of the gas assets hosted in the Tendrara-Lakbir permit.
Preliminary findings of consultant RPS Energy confirm previous estimates of the A1 prospect.
READ: Sound Energy says Phase 2 Morocco seismic is mostly complete
At A1, RPS sees between 278bn cubic feet (low case) and 1.25 trillion cubic feet (high case) of originally in place gas resources in the TAGI reservoir - with the mid-case pitched at 7624bn cubic feet and the mean resource estimated at 712bn.
“The company believes that further work may de-risk the first well and the chance of success may increase on positive results from the seismic processing and geological studies,” Sound said in a statement.
It is expected to be the first in a series of competent persons reports across Sound Energy’s eastern Morocco acreage, in the wake of new seismic acquisition.
Sound said a final CPR will follow in May, including a full technical review of the A1 prospect.
The explorer noted that further work may de-risk the first well and the chance of success may increase on positive results from the seismic processing and geological studies.
It plans to drill the TE-9 well to target, both the TAGI reservoir and the deeper Paleozoic (which isn’t included in the CPR).
Subject to the finalisation of prospect volumes and the chance of success, Sound will secure partner approvals and start ground works at the location.