Sound Energy PLC (AIM:SOU) 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.

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This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.


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