Sound Energy reveal up to 31 TCF of gas at Morocco project

Sound Energy reveal up to 31 TCF of gas at Morocco project

Sound Energy PLC (AIM:SOU) has announced an in-house estimation of between 9 trillion cubic feet (TCF) and 31 TCF of gas across its Tendrara and Meridia projects in eastern Morocco.

The exploration and production company projected a ‘mid-case’ unrisked figure of 17 TCF of gas across the sites, based on in-house data extracted from wells in the region.

Following this latest estimation, the firm is planning further exploration activity in Morocco, involving the use of additional seismic data, leading to further drilling.

It is believed that the next phase of work will help substantiate Sound’s estimated multi-trillion cubic feet exploration potential, and will provide a more accurate total figure of gas reserves in the area.

A company statement said: “The 2017 Tendrara/Meridja work programme will therefore be focused on accelerating the exploration activity to unlock the ultimate potential of the basin and advancing preparations to early first gas.”

Sound Energy were awarded Best AIM Company 2016, and also hold a number of oil and gas projects across Italy.

@RGNonline