7 December 2018
Sound Energy plc
("Sound Energy" or the "Company")
Eastern Morocco : Commencement of Drilling at TE-10
Sound Energy, the Moroccan focused upstream gas company, is pleased to confirm that the drilling at TE-10, the second well of a planned three exploration well campaign in Eastern Morocco, has commenced.
The TE-10 well will test the North East Lakbir prospect in the Company's Greater Tendrara permit and is located approximately 25 kilometres to the northeast of the recently awarded Tendrara production concession.
The well is designed to test both a material TAGI stratigraphic trap and a smaller TAGI structural closure. The North East Lakbir stratigraphic trap has updated mid case potential on a gross (100%) basis of 2.7 Tcf GOIP (4.5 Tcf GOIP upside case and a 1.5 Tcf GOIP low case) with a Sound Energy internally estimated chance of success of 14%. TE-10 lies within the stratigraphic trap, located on a smaller structural closure which has a mid case potential, on a gross (100%) basis, of 128 Bcf gas originally in place ("GOIP") (210 Bcf GOIP upside case and a 75 Bcf low GOIP case) with a Sound Energy internally estimated chance of success of 26%.
The well is expected to be drilling to a total depth at approximately 2,200m and is expected to take between 30 to 40 days.
Further announcements will be made, as appropriate, in due course.
For further information please contact:
Vigo Communications - PR Adviser
Tel: 44 (0)20 7390 0230
James Parsons, Chief Executive Officer
JJ Traynor, Chief Financial Officer
Smith & Williamson - Nominated Adviser
Tel: 44 (0)20 7131 4000
RBC Capital Markets - Joint Broker
Tel: 44 (0)20 7653 4000
Macquarie Capital (Europe) Limited - Joint Broker
Tel: 44 (0)20 3031 2000
The information contained in this announcement has been reviewed by Sound Energy's Exploration Director, Brian Mitchener, a chartered petroleum geologist. The estimated volumes are made in accordance with SPE standards. Bcf means billion standard cubic feet of gas; Tcf means trillion standard cubic feet of gas.