Sound Energy PLC Badile Update and Rig Mobilisation (3708T)
January 05 2017 - 1:00AM
UK Regulatory
TIDMSOU
RNS Number : 3708T
Sound Energy PLC
05 January 2017
5 January 2017
Sound Energy plc
("Sound Energy" or the "Company")
Badile Update and Rig Mobilisation
Sound Energy, the African and European focused upstream gas
company, is pleased to confirm that:
-- Ground works at the well site are now complete.
-- The conductor pipe was set last week.
-- The 3000 HP EMSCO C3 rig, owned by Pergemine S.p.A, has been mobilised.
The mobilization and rig-up operations are expected to be
completed by the end of February 2017, enabling drilling to
commence during March.
The Badile exploration well is planned to be drilled to a total
depth of 4,600m to test the hydrocarbon potential of the Lower
Jurassic Conchodon Dolomite with an independently assessed 100%
unrisked best case estimate of 178 Bscfe, an upside high case in
excess of 670 Bscfe and low case of 46 Bscfe.
For further information please contact:
Vigo Communications - Tel: +44 (0)20 7830
PR Adviser 9700
Patrick d'Ancona
Chris McMahon
Alexandra Roper
Sound Energy j.parsons@soundenergyplc.com
James Parsons, Chief Executive
Officer
Smith & Williamson - Nominated Tel: +44 (0)20 7131
Adviser 4000
Azhic Basirov
David Jones
Ben Jeynes
Cantor Fitzgerald Europe Tel: +44 (0)20 7894
- Broker 8896
Sarah Wharry
David Porter
The information contained in this announcement has been reviewed
by Sound Energy's Moroccan Managing Director, Luca Madeddu, a
qualified petroleum geologist. The Company's internal estimates are
made in accordance with SPE standards.
Bscfe means billion standard cubic feet of gas equivalent;
low,best and high case estimates refer to finding given volumes
consistent with SPE (The Society of Petroleum Engineers) guidelines
on Prospective Resources.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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