Tendrara: TE-7 Pressure Build Up

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 Patrick d'Ancona Chris McMahon Alexandra Roper	Tel: [phone]
Sound Energy James Parsons, Chief Executive Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: [phone]
RBC Capital Markets - Broker Matthew Coakes Martin Copeland Laura White	Tel: [phone]

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.

 

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