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 Patrick d'Ancona Chris McMahon Alexandra Roper |
Tel: +44 (0)20 7830 9700 |
Sound Energy James Parsons, Chief Executive Officer |
[email protected] |
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes |
Tel: +44 (0)20 7131 4000 |
RBC Capital Markets - Broker Matthew Coakes Martin Copeland Laura White |
Tel: +44 (0)20 7653 4000 |
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.
