Gulf Oil and Gas accountACCOUNT

Sound Energy Provides Update on Eastern Morocco Drilling Program

Source: www.gulfoilandgas.com 10/4/2017, Location: Africa

Sound Energy, the African and European focussed upstream gas company, is pleased to announce a forthcoming, high impact, three well exploration drilling programme in Eastern Morocco.

Commenting on today's announcement, James Parsons, Sound Energy's Chief Executive Officer said:

"Sound Energy is now approaching another exciting period of back to back drilling in Eastern Morocco. The three well exploration programme we are announcing today has the potential to significantly increase the core value of our Moroccan acreage and to establish Eastern Morocco as a prolific but low cost gas province, on the doorstep of large and growing energy markets."

Sound Energy and its partners hold significant gas exploration acreage in Eastern Morocco, which the Company internally estimates to include a total of 1.03 Tcf gas originally in place ("GOIP") over the greater Tendrara, TE-5 Horst and Lakbir and TE-4 highs (consisting of a mid-case 0.63 Tcf GOIP on the TE-5 Horst and an additional 0.4 Tcf unrisked GOIP over the Lakbir High and the TE-4 high). A reserves certification is currently underway on the TE-5 Horst core volumes of 0.63Tcf GOIP.

In addition to the Company's geophysical programme of a combination of aerial gravity gradiometry, 2D seismic surveys, 2D seismic reprocessing and geological studies, the Company now intends to accelerate its exploration drilling programme with a view to rapidly and materially increasing its discovered volumes in Eastern Morocco, thereby significantly increasing the core value of the Moroccan acreage and enabling right-sizing of the planned facilities.

The new exploration programme in Eastern Morocco includes three wells to be drilled back to back and will target high impact locations with significant exploration potential, with the aim of further unlocking the Company's internally estimated unrisked gross GOIP exploration potential volumes across Sound Energy's Eastern Moroccan acreage of 17 Tcf mid case (31 Tcf upside case and 9 Tcf low case), as announced on the 1 February 2017.

These exploration wells will span multiple target types across structural and stratigraphic traps and Triassic and Paleozoic reservoirs, and each of the wells is expected to cost approximately US$10 million.

The anticipated targets of the three well programme and the Company's internally assessed volume estimates (gross unrisked GOIP) of each of those targets are as follows:

- The 'A' Structure (25km north-west of TE-5 Horst) targeting a 0.7 Tcf mid case with a 1.2 Tcf upside case and a 0.4 Tcf low case, all from the Triassic and a similar sized lead in the Paleozoic.

- North-east Lakbir (20km north-east of TE-5 Horst) designed to target the TAGI stratigraphic pinch-out play, with estimated volumes of 2.6 Tcf mid case, a 5.0 Tcf upside case and a 1.2 Tcf low case.

- A Paleozoic test beneath the TE-5 Horst.

The previously announced appraisal well evaluation will remain under review pending completion of the exploration drilling programme.

The exploration drilling programme leads will be reviewed again and high-graded towards the end of the year following receipt of the gradiometry, 2D seismic surveys, the 2D seismic reprocessing and the geological studies.

The Company cautions that general exploration in the oil and gas industry contains an element of risk and there can be no guarantee that its current estimates of volumes of gas originally in place will be substantiated by exploration drilling or would actually be available for extraction.

* the term 'unrisked' refers to exploration estimates of gross GOIP where no subsurface CoS (chance of success) has been applied.

Drilling News in Morocco >>

Brazil >>  3/30/2020 - Petro-Victory Energy Corp. is pleased to provide the market with a drilling and operational update across the Company’s portfolio of assets in Brazil....
Australia >>  3/26/2020 - Falcon Oil & Gas has provided an operational update on the Beetaloo project in the Northern Territory, Australia in light of COVID-19. Following the s...

Bahamas >>  3/25/2020 - Bahamas Petroleum Company, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, ...
Gabon >>  3/25/2020 - VAALCO Energy, Inc. provided an update on the successful completion of its 2019/2020 drilling program as well as an operational update. ...

Gambia >>  3/25/2020 - FAR Limited has implemented plans to ensure business continuity and preserve the Company’s cash (~A$150M at end of February 2020) in the wake of the C...
Egypt >>  3/19/2020 - SDX Energy Plc (SDX), the MENA-focused oil and gas company, is pleased to provide the following update on its drilling operations in Morocco and Egypt...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Morocco Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Morocco >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.