Best AIM Company 2016

RNS Number : 8941W
Sound Energy PLC
20 November 2017
 

20 November 2017

 

Sound Energy PLC

("Sound Energy" or the "Company")

 

Eastern Morocco: Aerial Gradiometry Results

 

Sound Energy, the African and European focussed upstream gas company, is pleased to announce completion of the Airborne Full Tensor Gravity Gradiometry (FTG) and magnetic survey acquisition in Eastern Morocco. 

 

The survey team, provided by AustinBridgeporth, flew a total of 26,700 survey line kilometres, across a total area of 22,800 square kilometres over the Tendrara, Matarka and Anoual licences in just less than twelve weeks. The survey, together with the new 2D seismic programme which is now underway, was commissioned to develop a better understanding of the subsurface structure and sedimentary succession.

 

The Company confirms receipt of a preliminary high resolution FTG and magnetic dataset, delivered on schedule and to budget, with highly encouraging results.  Critically, these results include the delineation of previously unrecognised subsurface features and a clearer view of the deeper structure across the three licences. The preliminary data provides a far more detailed view of a deep, thick Paleozoic basin extending over the three permit areas, bounded by a series of NE-SW and NNE-SSW faults. The NNE-SSW fault trend is coincident with the Paleozoic anticline identified on 3D seismic beneath the TE-5 Horst (the possible third well location in the 2018 exploration programme).  Other similar fault trends may indicate further Paleozoic potential. Following further data processing, likely mid-December, the Company expects to have an improved understanding of the exploration potential of the licence areas.

 

 

For further information please contact:

 

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon 

Alexandra Roper

 

Tel: +44 (0)20 7830 9700

Sound Energy

James Parsons, Chief Executive Officer 

 

j.parsons@soundenergyplc.com

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes 

 

Tel: +44 (0)20 7131 4000

RBC Capital Markets - Broker

Matthew Coakes

Martin Copeland

Laura White

 

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
 
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