14 December 2017
Sound Energy PLC
("Sound Energy" or the "Company")
Eastern Morocco: 2D Seismic and Magno-Telluric Update
Sound Energy is pleased to confirm that, further to the announcement on 20 November 2017, it has now completed the first phase of the 2D seismic and magneto-telluric (MT) acquisition in Eastern Morocco.
The Company is delighted to report the successful completion of the first phase of this four-phase programme, which includes 8 2D seismic lines (341line kilometres in total) over the 'A' Structure located 25km north-west of TE-5 Horst. The seismic data density and integrity is of the high quality expected and already clearly highlights the 'A' structure. The 'A' structure is expected to be the first target for the Company's rapidly approaching three well exploration programme. The MT has proven to have exceptionally high signal to noise ratio and will provide another independent measure of basin geometry and subsurface rock properties to complement the 2D seismic and the newly acquired airborne FTG gravity gradiometry and magnetic datasets which completed in November.
The 2D seismic and MT data collected has now been despatched to the WesternGeco processing centres for fast-track processing and evaluation. We expect to receive processed results in January to support the first CPR currently scheduled for completion during Q1 2018. This is in addition to the Reserves Certification which is expected imminently.
Seismic parameter testing is continuing in the Anoual permit to further optimise imaging after which the Western Geco crew will commence phase two of the programme across a region eastward of the TE-5 Horst. Survey efficiency continues to improve and is aligned to our expectations. The crew are currently acquiring our tenth 2D seismic line and have completed a total of 445 line kilometres out of the approximately 2800 line kilometres programmed.
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 Capital Markets - 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.