Sound Energy ups gas resource estimate at Morocco well
Source - SMW
Sound Energy said it had upped an estimate of gas in place at a Moroccan prospect after conducing pressure testing.
The latest measurements at the TE-7 well indicated a current reservoir pressure of 413.4 bara, with the pressure continuing to increase towards the original reservoir pressure of 422.6 bara confirmed in July 2017.
Analysis of the pressures measured had led to an increase in the company's estimate of connected volume of in place gas to more than 115bn standard cubic feet.
Historical analysis of the pressure trend, announced in July 2017, had previously shown that the volume of connected GOIP around TE-7 exceeded 40 Bscf.
'The significant increase in the company's estimates of minimum GOIP connected to the TE-7 well provides support for the company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery,' Sound Energy said.
The period of pressure monitoring had been extended to observe the continued pressure increase and would continue.
At 9:10am: (LON:SOU) Sound Energy PLC share price was +0.92p at 23.92p