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Sound Energy kicks off new exploration drilling in Morocco

The AIM-quoted gas firm has begun the first of three planned new wells in the Greater Tendrara exploration area, located in proximity to the project's field development area

oil and gas operations
The two target programme is set to take between 35 and 45 days

Sound Energy PLC (LON:SOU) has confirmed that it has now begun drilling operations for the TE-9 exploration well in Morocco.

The new exploration well within the Tendrara project area is the first of three. It is targeting the A1 prospect, which is located some 19 kilometres from the Tendrara production concession area.

READ: Sound Energy shares in demand ahead of new Morocco drill programme

TE-9 will be drilled down to 3,022 metres. It will test two targets, one is the primary TAGI reservoir and the other is the underlying Paleozoic.

The programme is expected to take between 35 and 45 days.

Sound plans to update investors at a number points during the period, and, it has set up a webcam so that progress can be monitored online.

Shares were up 3.8% to 37.4p on Thursday afternoon.

--Updates for share price--

Quick facts: Sound Energy PLC

Price: 2.86 GBX

AIM:SOU
Market: AIM
Market Cap: £30.88 m
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Investor Update: Sound Energy agrees deal to sell stake in East Morocco

Headlines from the Proactive UK newsroom. Sound Energy (LON:SOU) has signed a preliminary agreement to sell just over half its stake in its Tendrara licences in East Morocco for US$113mln. The consideration is US$54mln cash and the rest is a carry for future capital...

on 6/11/19

2 min read