RNS Number : 7419H
Sound Energy PLC
12 June 2017
12 June 2017
Sound Energy plc
("Sound Energy" or the "Company")
Operational Update: Sidi Moktar and Badile
Sound Energy, the African and European focused upstream gas company, is pleased to confirm the commencement of operations to re-enter and test the Koba-1 well at the Company's Sidi Moktar licence, onshore Morocco, and to provide a further update on the drilling of the Badile exploration well, onshore Italy.
The Company is pleased to announce that operations to re-enter and test the Koba-1 well at Sidi Moktar have now commenced. Operations will include the perforation and testing of the Lower Liassic and a potential testing of the Argovian. The total operation is expected to take approximately ten days, after which the rig will move to the Kamar-1 well for the second stage of the operation, as announced on 17 May 2017.
The Sidi Moktar licences cover 2,700 square kilometres in the Essaouira basin, central Morocco, and are close to existing infrastructure and gas demand, including the large scale Moroccan state owned OCP Phosphate plant.
The Company is looking forward to hosting investors on its Sidi Moktar site visit later this week. Investors are invited to observe live operations through the Company's webcam.
The Company confirms that drilling continues successfully at the Badile exploration well, which has reached a measured depth of 4,328 metres within the Medolo Formation. Drilling continues towards the reservoir which the Company expects to penetrate, after setting a 7" liner just above the pay zone, later this month.
Further updates will be made, as appropriate, in due course.
For further information please contact:
Vigo Communications - PR Adviser
Tel: +44 (0)20 7830 9700
James Parsons, Chief Executive Officer
Smith & Williamson - Nominated Adviser
Tel: +44 (0)20 7131 4000
RBC - Broker
Tel: +44 (0)20 7653 4000
The information contained in this announcement has been reviewed by Sound Energy's Executive Vice President, Brian Mitchener, a chartered petroleum geologist.
This information is provided by RNS
The company news service from the London Stock Exchange