Sound Energy PLC (LON:SOU) gave investors an update on its operations in Morocco and said that it knows no operational or corporate reason for the recent fall in the share price.
It revealed that the rig-up process is now complete and final preparations for the spudding of the TE-9 exploration well, which is due to spud next week.
READ: Sound Energy ready for next “potentially transformational” drilling
The well will be drilled down to a depth of 3,022 metres and the drill programme is due to last for 35 to 45 days.
Sound said it intends to update investors on the achievement of each of the two casing points, and when the well reaches total depth - it is planned that a live webcam broadcast will be made available on the Sound Energy website.
Additionally, the company has begun ground works for the TE-10 well.
The company, in the statement, also noted that it continues to make strong progress on a gas sales deal for a development project in its Eastern Morocco area, following ministerial meetings earlier this week.
Elsewhere, in relation to the Southern Morocco portfolio, Sound noted that the process to farm-out a stake in the Sidi Moktar project is continuing, and, it is now in talks with remaining third parties and it expects to update the market in due course.
