A prospective resource with multiple tcf potential
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Area: 14,500 km2
Effective date: 23 April 2013
Term: 8 years
Net effective interest of 27.5%, following Field Management Agreement with Schlumberger
Figuig Province, North-East Morocco
120 km from Gazoduc Maghreb Europe (GME) pipeline (connecting Algeria and Morocco to the Spanish/Portuguese gas grids)
Sub-divided into eight blocks
Combined area of 14,500 km2.
Represents a continuity of the Algerian Triassic Province and Saharan Hercynian platform
Same basin shows as the tectono-sedimentary evolution in the Algeria Basins
Sound Energy farmed in to the Tendrara licence in June 2015, taking a 55% working interest in the licence, partnering ONHYM (25% interest) and Oil & Gas Investment Fund (“OGIF”) (20% interest) and assuming Operatorship
December 2015, Sound entered into a Field Management Agreement (FMA) with Schlumberger. Schlumberger agreed to fund a significant portion of the capital expenditure on the first three Tendrara wells and provide technical services, equipment and personnel to Sound Energy as Operator in exchange for an upside linked to production performance.
OGIF has expressed interest to fund a new pipeline connecting Tendrara to the Gazoduc Maghreb Europe (GME) pipeline
First well (TE-6): During the first half of 2016, the first Tendrara well, TE-6, was drilled to a measured vertical depth of 2,665 metres and successfully encountered approximately 28 metres of net gas pay in the TAGI reservoir. Flow was achieved pre-stimulation and, post-stimulation, a rate of 17 mmscf/d (0.5 million scm/d) was achieved. This rate is significantly above initial expectations and represents a highly commercial rate.
Second well (TE-7): the Company's second Tendrara well (TE-7) was drilled successfully to a total measured depth of 3,459 metres, corresponding to a vertical depth of 2,611 metres. TE-7 has a total contact length through the TAGI reservoir of some 837 metres, including a 700 metres sub-horizontal section. A gas flow rate was achieved, post stimulation, of 32 MMscf/d. This rate is significantly above the Company's pre-drill expectations. Based on the clean up phase, the well's potential is predicted by the Company to be significantly above 40 MMscf/d with a 50% drawdown
All wells in the licence appear to sit on the same gas gradient. None of the historically drilled wells on the licence have identified a gas/water contact
Suggests the possibility of a significant gas column within a continuous extended structure
Extended well test to confirm production sustainability and aid field development planning
Target: Prove 1.5 Tcf field in TAGI and explore the Paleozoic