Sound Energy (SOU)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.88p
   
  • Change Today:
      0.000p
  • 52 Week High: 1.25p
  • 52 Week Low: 0.63p
  • Currency: UK Pounds
  • Shares Issued: 2,080.62m
  • Volume: 637,795
  • Market Cap: £18.21m
  • RiskGrade: 409
  • Beta: 0.03

Sound Energy eyes up to 31trn cubic feet of gas in Moroccan permits

By Oliver Haill

Date: Wednesday 01 Feb 2017

LONDON (ShareCast) - (ShareCast News) - Sound Energy said an early estimate of its Tendrara and Meridja permit areas in Morocco put unrisked original gas in place of up to 31trn cubic feet (tcf), or 17tcf as a mid case.
The AIM-listed company, which has a 27.5% interest in the Tendrara licence and an option to acquire a 55% interest in Meridja, last month conducted various tests and has now received an initial basin model, from which it made internal estimates of volumes.

It said the basin model "highlights the possibility" for a range of estimated volumes across the entire Tendrara and Meridja permit areas, with a 9tcf low case for unrisked original gas in place and, if all the key elements of the petroleum system's model are present, an upside gross case of 31tcf of unrisked original gas in place.

The company said basin model, from which the volume estimates above are derived, is supported by a mapped inventory of discoveries, prospects and leads in the Triassic reservoir; the volume of hydrocarbons generated, and available to charge, from the Paleozoic source rocks post deposition of the thick salt seal; and a conceptual evaluation of the Paleozoic resource potential by analogue to neighbouring Algerian basins.

It cautioned that, notwithstanding its internal estimates for the exploration potential of the basin, it has so far only completed the first two wells on the structure which have established an estimated gross 300-500bn of standard cubic feet of gas (Bscf).

"Further exploration activity, including the acquisition of additional 2D and 3D seismic and the requirement for further drilling, will be required to substantiate the estimated exploration potential of the Basin.

"The company's estimates will be subject to a Competent Person's Report to be commissioned following the drilling of TE-8 and before the company takes final investment decision on the development later in 2017."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sound Energy Market Data

Currency UK Pounds
Share Price 0.88p
Change Today 0.000p
% Change 0.00 %
52 Week High 1.25p
52 Week Low 0.63p
Volume 637,795
Shares Issued 2,080.62m
Market Cap £18.21m
Beta 0.03
RiskGrade 409

Sound Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.71% above the market average79.71% above the market average79.71% above the market average79.71% above the market average79.71% above the market average
88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average
Price Trend
13.80% above the market average13.80% above the market average13.80% above the market average13.80% above the market average13.80% above the market average
37.84% above the sector average37.84% above the sector average37.84% above the sector average37.84% above the sector average37.84% above the sector average
Income Not Available
Growth
38.18% above the market average38.18% above the market average38.18% above the market average38.18% above the market average38.18% above the market average
56.52% above the sector average56.52% above the sector average56.52% above the sector average56.52% above the sector average56.52% above the sector average

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