LONDON (ShareCast) - (ShareCast News) - Sound Energy has confirmed a significant gas discovery and a potential single gas column at its Tendrara licence, onshore Morocco.
The company had already announced that the first Tendrara well, TE-6- was drilled to a measured vertical depth of 2,665 metres, and encountered the top of the structure and approximately 28 metres of net gas pay.

Sound said on Monday that it has now completed operations and on 7 August achieved a stabilised gas flow rate, post stimulation, of 17m standard cubic feet per day, which is "significantly above" initial expectations and represents a highly commercial rate.

The group also said the Tendrara gas discovery could comprise a significant gas column within a continuous extended structure.

Together with Schlumberger, Sound Energy is now preparing the second well at Tendrara, TE-7, using sub-horizontal drilling techniques which are expected to significantly increase the individual well flow rate in a success case.

Chief executive officer James Parsons said: "I believe Tendrara, Meridja and the Eastern Morocco TAGI play have the potential to be a material hydrocarbon province on a regional scale and therefore to transform both Sound Energy and the Moroccan gas industry."

At 0812 BST, shares were up 5.4% to 63p.

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