LONDON (ShareCast) - (Sharecast News) - Morocco-focussed upstream gas company Sound Energy updated the market on the TE-7 well reservoir pressure on Monday, following the latest retrieval of the pressure gauge data.
The AIM-traded firm said the measured pressure data provided further information on the extent and quality of the reservoir at TE-7, and provided additional confidence for the development plan of its existing TE-5 Horst discovery, which remained subject to a final investment decision.

It said the latest pressure measurements revealed a current reservoir pressure of 413.4 bara at the TE-7 well location, with the pressure continuing to increase towards the original reservoir pressure of 422.6 bara, which was confirmed by the company on 19 July 2017.

The period of pressure monitoring had been extended to observe that continued pressure increase, and would continue.

Sound Energy said the pressure build-up trend was important information, as it allowed the company to estimate the connected volume of in place gas accessible by the TE-7 well.

Analysis of the pressures measured in the well recorded over time had led to an increase in the firm's estimate of connected gas in place around TE-7 to a volume exceeding 115 Bscf.

Historical analysis of the pressure trend, announced on 19 July 2017, had previously shown that the volume of connected gas in place around TE-7 exceeded 40 Bscf.

"The significant increase in the company's estimates of minimum gas in place connected to the TE-7 well provides support for the company's field development plan consisting of a number of horizontal stimulated production wells spaced to optimise recovery," the board of Sound Energy said in its statement.

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