Sound Energy upgrades estimated size of Morocco gas discovery
Source - SMW
Sound Energy upgraded the size of a recent gas discovery in Morocco after conducting further test work.
The TE-10 well -- the second of a three-well campaign -- was now estimated to have a net pay of up to 15.4 metres, a 47% increase on the previous estimate of up to 10.5 metres.
The company said it had also recognised the presence of a fracture network during testing that was not included in the analysis, but which would be considered following further test work.
'Following our initial post-drill technical analysis, we are delighted to materially upgrade our net pay and provide confirmation of the multi-trillion-cubic-feet potential of this well,' chief executive James Parsons said.
'We now look forward to addressing reservoir deliverability and hence commerciality with the well test.'
At 9:30am: (LON:SOU) Sound Energy PLC share price was +0.69p at 25.49p