Sound Energy PLC Tendrara: TE-7 Pressure Build Up (4280L)
July 19 2017 - 2:00AM
UK Regulatory
TIDMSOU
RNS Number : 4280L
Sound Energy PLC
19 July 2017
19 July 2017
Sound Energy plc
("Sound Energy" or the "Company")
Tendrara: TE-7 Pressure Build Up
Sound Energy, the African and European focused upstream gas
company, is pleased to provide an update on the TE-7 extended well
test, including an initial measurement of the reservoir pressure
build-up response.
In January 2017, the Company finalised the draw down phase of
its extended well test at TE-7, the Company's second well at
Tendrara, onshore Eastern Morocco. As announced on 19 January 2017,
the Company flowed close to 1.0 Bcf over a period of 56 days during
this phase. The Company has subsequently retrieved the downhole
pressure gauges from TE-7 to analyse the initial reservoir pressure
response.
The bottom hole pressure was recorded at 393.8 bar (against a
final drawdown flowing reservoir pressure of 140 Bar in January
2017, immediately following the test, and an original reservoir
pressure of 422.6 Bar). The Company therefore concludes that TE-7
has demonstrated a very strong pressure recovery to date. As
expected with low permeability reservoirs, the pressure build up is
still ongoing and pressure stabilisation is estimated to require a
further six to eight months.
Reservoir simulations suggest that, once the reservoir has
reached full pressure stabilisation, the estimated connected gas
volumes in place (gross, unrisked) for production from TE-7 are 40
Bscf. This is consistent with the Company's preliminary volume
estimates announced on 23 May 2017 and enables the Company to
confirm a field development concept with regular spacing of sub
horizontal stimulated wells, similar in design to TE-7.
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
Patrick d'Ancona
Chris McMahon
Alexandra Roper
Sound Energy j.parsons@soundenergyplc.com
James Parsons, Chief Executive Officer
Smith & Williamson - Nominated Adviser Tel: +44 (0)20 7131 4000
Azhic Basirov
David Jones
Ben Jeynes
RBC Capital Markets - Broker Tel: +44 (0)20 7653 4000
Matthew Coakes
Martin Copeland
Laura White
The information contained in this announcement has been reviewed
by Sound Energy's Exploration Director, Brian Mitchener, a
chartered petroleum geologist.
Bscf means billion cubic feet of gas.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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