5 January 2017
Sound Energy plc
("Sound Energy" or the "Company")
Badile Update and Rig Mobilisation
Sound Energy, the African and European focused upstream gas company, is pleased to confirm that:
· Ground works at the well site are now complete.
· The conductor pipe was set last week.
· The 3000 HP EMSCO C3 rig, owned by Pergemine S.p.A, has been mobilised.
The mobilization and rig-up operations are expected to be completed by the end of February 2017, enabling drilling to commence during March.
The Badile exploration well is planned to be drilled to a total depth of 4,600m to test the hydrocarbon potential of the Lower Jurassic Conchodon Dolomite with an independently assessed 100% unrisked best case estimate of 178 Bscfe, an upside high case in excess of 670 Bscfe and low case of 46 Bscfe.
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
Cantor Fitzgerald Europe - Broker
Tel: 44 (0)20 7894 8896
The information contained in this announcement has been reviewed by Sound Energy's Moroccan Managing Director, Luca Madeddu, a qualified petroleum geologist. The Company's internal estimates are made in accordance with SPE standards.
Bscfe means billion standard cubic feet of gas equivalent; low,best and high case estimates refer to finding given volumes consistent with SPE (The Society of Petroleum Engineers) guidelines on Prospective Resources.