3 July 2017
Sound Energy plc
("Sound Energy" or the "Company")
Sound Energy, the African and European focused upstream gas company, is pleased to provide an update on the drilling of the Badile exploration well, onshore Italy.
The Company successfully set the 7" liner at 4375m and drilled to a total depth of 4472m measured depth. Further significant gas shows (gas chromatography measured C1 to C5) were encountered in an expanded Conchodon dolomitic reservoir section down to 4387m measured depth and in the primary Conchodon dolomitic reservoir at 4462m to 4472m measured depth. The significant gas shows in both the Upper and Primary Conchodon reservoirs were also accompanied by water influx and mud losses into what are believed to be fractures in the formation.
The gas shows suggest a 12m gas column was encountered below 4375m measured drill depth in the Upper Conchodon, beneath which, the water influx and resisitivity data are consistent with a gas/water transition zone. The Company has assessed this gas volume as sub commercial.
To verify this assessment, the Company is intending to run a limited set of logs which will, if confirmatory, likely be followed by operations to plug and abandon the well.
James Parsons, Chief Executive Officer of Sound Energy, commented:
"The likely sub commercial volumes at Badile are of course a disappointment.
Our focus now returns to our more material Eastern Moroccan position, where the seismic acquisition has begun and we are positioning for further drilling in Q4 of this year."
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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 Exploration Director, Brian Mitchener, a chartered petroleum geologist.