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Sound Energy set to test TE-10 as key equipment arrives on site

The TE-10 well will now undergo both unstimulated and stimulated tests.

oil and gas operations
It is the first of three wells in the programme

Sound Energy PLC (LON:SOU) has told investors that a required piece of equipment has now arrived on site in Morocco, and, it will now advance testing programmes on the TE-10 well.

With the receipt of coiled tubing, the company will work to start a programme of unstimulated tests, followed by stimulated flow tests.

READ: Schlumberger takes direct stake in Sound’s Anoual permit

TE-10 is the second in a three well exploration programme in the Greater Tendrara area, onshore Morocco.

Earlier this month, Sound confirmed an important milestone for the Tendrara gas project.

Schlumberger converted its interest in the Anoual permits, part of the Tendrara exploration venture, into a direct stake in the project. As a result of the procedural milestone, Sound’s project equity stake amounts to 47.5% alongside Schlumberger with 27.5%, and Moroccan state vehicle ONHYM holding the remaining 25%.

It concludes the process across all the component parts of the Greater Tendrara project area, all of which is now 27.5% owned by Schlumberger. Meanwhile, the process is ongoing to convert Schlumberger’s interest in the TE-5 Horst discovery into a direct stake.

Quick facts: Sound Energy PLC

Price: 3.6 GBX

AIM:SOU
Market: AIM
Market Cap: £38.87 m
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